According to a study that was recently published in the Harvard Business Review, in regions like North America, the most talented individuals prefer to work in companies that foster diversity.
Pay equity is a tool in promoting diversity in companies. It will assist companies to attract top talent, which will in turn assist them to outperform their peers.
In preparing for the new legislation coming into force, I have conducted extensive consultations with unions, employers, women's organizations and employer associations to identify any concerns they may have and to find out how we could best address them. In response to the needs identified by stakeholders, the pay equity team is developing educational materials, guidance documents and concrete tools that will assist the workplace parties to implement the act.
We are working closely with stakeholder groups to ensure that these tools work well for employers and employees.
Communication about the new legislation is key to our success. My goal as commissioner is to demystify pay equity and help employers to see that it is a golden opportunity to demonstrate their commitment to gender equality in the workplace.
The economic conditions for women are perilous right now and need to be addressed. Pay equity is one tool among many that will make a concrete difference in the economic reality of many women and help us as a nation to benefit from the full participation of women in the workplace.
I welcome your questions. Thank you.