Scotiabank is aiming to increase the representation of visible minorities in senior management roles by 30 per cent or more over the next five years, as part of renewed efforts to diversify its employee population.
The step is one of several the bank is taking to address diversity and inclusion in its workforce in the wake of global protests over a recent string of racially motivated incidents that occurred in the U.S. in 2020.
Scotiabank is focused on welcoming diverse communities and addressing issues of racism among its employees, customers, business partners and in communities where it operates, said Barb Mason, the bank’s group head and chief human resources officer, in a press release.
The latest goals are in addition to the company’s announcement in July that it’s launching a series of initiatives to increase its workforce diversity and eliminate racial discrimination in the workplace. This included doubling the current representation of Indigenous peoples in its workforce, as well as increasing the representation of people with disabilities by 20 per cent and women in senior leadership roles, including the C-suite, to 40 per cent globally.
In keeping with its BlackNorth pledge, Scotiabank said it also plans to increase representation of Black employees in senior leadership roles to 3.5 per cent and ensure five per cent of its student workforce is recruited from the Black community.