Today we’re featuring the Canadian Imperial Bank of Commerce (CIBC) for their high achievements in diversity and transparency.
Here’s a glimpse at their stats:
- 50% of board female and 8% LGBTQ+
- 50% of C-Suite female
- 55% of total workforce female
- 9% of Canadian employees have a reported disability
- 11% of Canadian Senior Leaders have a reported disability
This type of success doesn’t come without a concerted effort. Here’s a breakdown of the company’s goals as stated in their 2022 Sustainability Report.
Representation of Board-Approved Executive Roles
- At a minimum, 35%–40% women in Board approved executive roles by 2022 – this goal was met at 38% women in board-approved executive roles.
- They’re targeting at least 40% women in Board-approved executive roles by 2024.
- They’re on track to have at least 25% people of colour in Board-approved executive roles by 2024 – currently at 24%.
- At least 4% leaders from the Black community in Board-approved executive roles by 2023 – at 3% at the end of 2022.
- At least 2% Indigenous peoples in Board-approved executive roles by 2025 – at 1% as of their 2022 report.
Workforce representation Goals
- A goal of at least 9% of workforce identify as persons with disabilities by 2024 was met.
- As was a goal of at least 3% of workforce identify as Indigenous peoples by 2024.
Student recruitment
- A goal of at least 5% of student recruitment from the Black community in 2022, was exceeded, landing at 6%.
- Their goal for 2023 is the same.
Why do we care?
This is an example of a company setting goals, and building programs to hit them. The line between stated goals, and the initiatives promoted on their website is very clear. There is a partnership or program to support nearly every goal in their sustainability report.
Their website reads:
At CIBC, we’re committed to building an inclusive and diverse organization that supports all of our clients and team members. This is an organization-wide objective built on the belief that an inclusive and diverse team drives innovation, builds better client relationships and makes us a better company.
Partnerships
We have built important professional partnerships with the National Black MBA Association (NBMBAA), Out in Finance, CareerSpring and the Association of Latino Professionals For America (ALPFA) to ensure that we’re not only listening and learning from diverse voices, but hiring them as well. We’re also exploring more recruiting partnerships with the intent to increase diverse representation across the spectrum of disability, sexual orientation and veterans.
Inclusive recruiting
We continue to increase our efforts in how we recruit, retain, develop and promote unique talent. To support this objective, we’ve cultivated relationships with organizations and partners that help shape how we think about talent, grow our talent base and build a work environment that supports personal and professional growth. Our Campus Champion team focuses on building and deepening our engagement efforts with identified Historically Black Colleges and Universities (HBCUs), Hispanic Serving Institutions (HSIs) and other diverse community partners.
Additionally, they have internal employee networks to celebrate diversity, connect and support team members from all different backgrounds, and maintain an inclusive culture.
To see a breakdown of these stats from the S&P 500, the Russell 1000, and MSCI World (coming soon!) – start a free trial of DiversIQ: Start Trial