The 50-30 Challenge: Your Diversity Advantage is an initiative in Canada aimed at promoting diversity and inclusion in corporate boards and senior management positions.
It was announced by the Minister of Innovation, Science and Industry on December 10, 2020. The challenge is a collaborative effort between the Government of Canada, businesses, not-for-profit organizations and diversity-focused groups.
The goal of the 50-30 Challenge is to increase the representation and inclusion of diverse groups within workplaces while highlighting the benefits of giving all Canadians a seat at the table. It sets two specific targets for participating organizations:
- Gender Parity (50%): Organizations are encouraged to achieve gender parity, ensuring that at least 50% of board members and senior management positions are occupied by individuals of any gender.
- Significant Representation of Underrepresented Groups (30%): Organizations are also urged to achieve significant representation, with at least 30% of board members and senior management positions held by individuals from underrepresented groups.
The term “underrepresented groups” includes individuals from diverse backgrounds, such as Racialized, Black, and/or People of Colour (“Visible Minorities”), People with disabilities (including invisible and episodic disabilities), 2SLGBTQ+ and/or gender and sexually diverse individuals, and Aboriginal and/or Indigenous Peoples (including those that identify as First Nation Peoples, Métis Nation, and Inuit).
By encouraging companies to meet these targets, the 50-30 Challenge aims to promote greater diversity and inclusivity in leadership positions, fostering more equitable and representative workplaces across various sectors.