In the wake of COVID-19, Earth continues to rotate, but the world is on lock-down. At the time of any global crisis, industries begin to look to its verticals and horizontals to see how other companies are responding.
In 2020, one of the most pressing issues society faces today involves calling for greater attention to fairness and human rights. And this is evident from The Rosenzweig Report, which just made its 15th annual debut in March. For 15-years, the search firm and talent agency, Rosenzweig & Company have meticulously tracked the number of leading women in named corporate positions in Canada’s largest companies in its Rosenzweig Report. The Report looks at the top 100 largest publicly-traded corporations in Canada, based on revenue, and examines how many of the top leadership roles are held by women, primarily C-Suite organizations. It has since grown into a much broader springboard for a global discussion on equality, justice, and diversity.
However, in this year’s report, numbers reveal serious setbacks for women in leadership as top political, business, and creative voices demand change.
Well, with the abrupt fall of high-profile individuals from the worlds of business, entertainment, politics, and media, coupled with the rise of broad-based movements like #MeToo and #TimesUp, seems to signal a profound shift in societal attitudes towards gender, power, and authority, according to internet and technology attorney, Andrew Rossow.
Here’s what we’ve learned from the 15th Annual Rosenzweig Report:
- Of the 538 Named Executive Officers (NEOs), 495 are men and 43 are women;
- In percentage terms, women now hold 7.99% of these important jobs compared to 9.96% a year ago and 4.62% in 2006, when Rosenzweig & Co. began this study;
- Of the 100 largest companies, 35 have at least one woman in a top leadership role, down from 42 from the previous year;
- In the 25 largest companies, there are now 9 female NEOs, down from 11 the previous year;
- The most common female NEO job title is CFO; and
- In the corner office, there are three women CEOs this year, same as last year.
Over the years, notable individuals have contributed to the Report. New additions to the list, include Nancy Buese, EVP & CFO of Goldcorp; Helena Foulkes, CEO of HBC, Karen Higgins, CEO EVP & CFO of Cooperators; Barbara Munroe, EVP Corporate Services and General Counsel of Westjet; Jocelyn Perris, EVP & CFO of Fortis, and Mary Anne Whitney, SVP & CFO of Waste Connections.
Obtaining dignity, respect, and advancement for women is not just a woman’s issue, it’s a human rights issue,” Milano stated. “It requires including men and welcoming their help to change behavior and perceptions. Jay Rosenzweig, through The Rosenzweig Report and his support for the #MeToo movement, shows that men can be important and effective allies and advocates for real change.”
“As a musician and as one who travels the world practicing my art form, I have observed that collaboration and inclusion make for better music and for better societies,” says Grammy and Academy Award winner, A.R. Rahman. “The Rosenzweig Report plays an important role in that regard because it tells us how far we have come, while also reminding us of how much further we have to go.”
But with COVID-19 still at large, it’s hard to predict what 2021 will look like, Rosenzweig shared with us. In our view, we believe that women will continue to rise up and look for a change in the way our society thinks and conducts business.