Diversity, Equity and Inclusion
We believe that it is our responsibility, as an employer, to foster a workplace where all people are treated with respect and dignity, in an inclusive, diverse and safe work environment. Our talented people are the most valuable assets we have, and we know that the collective sum of their individual differences and unique capabilities represents a significant portion of overall success.
Our Commitment
We strive to offer our employees a work environment that allows them to thrive and feel valued, respected and included. We are committed to creating and maintaining a workplace characterized by mutual trust and the absence of intimidation, discrimination, oppression and exploitation.
We will not tolerate discrimination – on the basis of, among other things, age, sex, sexual orientation, race, national origin, religion or disability – as well as sexual or psychological harassment, or violence in the workplace. We will take appropriate and immediate action in response to complaints or knowledge of violations of our policy.
Diversity, equity and inclusion are priorities for us, both as an employer and as an active owner in a variety of companies operating across numerous geographic locations. Our group companies attract a diverse team of employees, all with unique expertise and perspective, from different backgrounds, age groups, genders and nationalities. Attracting and retaining a workforce that reflects the communities in which we are located and the breadth of experience we need underpins our goal to be a great employer and to achieve our business objectives.
Our Code of Business Conduct and Ethics, our Respectful Workplace Policy and Procedures and our Diversity, Equity and Inclusion Policy (DE&I Policy), which apply to all current employees of the Corporation, reinforce not only our commitment to provide a work environment of equal opportunities in employment, appointment and advancement, based on appropriate qualifications, requirements and performance, but also our commitment to support a diverse, equitable and inclusive workforce in which all individuals realize their maximum potential.
Programs
Anchored by our Code of Business Conduct and Ethics, our Respectful Workplace Policy and Procedures and our DE&I Policy, we have focused our strategy on supporting a respectful, diverse, equitable and inclusive work environment through the implementation of the following programs:
Respectful Workplace
Our Respectful Workplace Policy and Procedures describe behaviours that are prohibited, as well as the roles and responsibilities of everyone in maintaining a respectful workplace, free of discrimination, harassment and violence.
The policy also outlines the procedures and mechanisms that are available for anyone believing they have been subject to or have witnessed any behaviour which is contrary to the Policy, including a reporting hotline and web portal operated by a third-party provider that is available 24 hours a day, 365 days a year.
Power Corporation is also committed to handling all complaints swiftly and confidentially, to the extent possible in light of the need to take appropriate corrective measures. The Corporation will not take any reprisal or retaliation measures, including any adverse employment measures, against any Director, officer, employee and/or third party who in good faith brings forward actual or potential violations or other concerns.
We provide an annual training on our Code of Business Conduct and Ethics and on our Respectful Workplace Policy and Procedures, which emphasize our commitment to provide a respectful and equitable workplace.
Diversity, Equity and Inclusion
We support diversity at all levels of the organization. As it relates to our Board and senior management, this commitment was formalized through the Corporation’s policy relating to Board and Senior Management Diversity. The Board believes diversity ensures directors provide the necessary range of perspectives to achieve effective stewardship and recognizes that gender diversity is a significant aspect of diversity. Power Corporation’s objective Is to have at least 30% of its Board composed of women by 2025. Following the 2022 Annual Meeting of Shareholders, the number of women elected to the Board increased to four, representing 29% of Board.
As it relates to our employees in general, the Corporation's DE&I Policy sets forth our approach to fostering, cultivating, and preserving a culture of DE&I in which all individuals realize their maximum potential. This policy addresses topics such a reasonable accommodation, recruitment, career management, pay equity, DE&I-related training and learning, and diversity monitoring. Our talent management practices aim to foster equal opportunities in employment based on appropriate qualifications, requirements, and performance, including as part of hiring- and advancement-related decisions. Moreover, as a Quebec-based company, the Corporation has, since 2001, complied with the Quebec Pay Equity Act, which provides for the creation of a pay equity plan applicable throughout the enterprise and the conducting of a pay equity audit every 5 years.
As at December 31, 2022, the women in our business represented:
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29% at the Power Corporation Board level
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52% at the management level at Power Corporation
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31% at the executive officer level within the Corporation's group companies (including its publicly traded operating companies and their respective principal subsidiaries)
Also, when considering executive officer positions at the Corporation and its publicly traded operating companies, there were four “members of visible minorities” (representing 11% of the executive officers of the Corporation and its publicly traded operating companies), one “person with disabilities” (representing 3% of the executive officers of the Corporation and its publicly traded operating companies) and no “Aboriginal peoples”, each as defined in the Employment Equity Act (Canada).
For additional information on gender diversity and ethnic/racial identity within the Power group of companies, please consult our 2022 ESG Data Tables.