What is the business case for RBC’s diversity strategy or initiatives?
ZH: First of all, let me speak about women. It’s a pretty compelling business case – women make up 50% of the population, 50% of the potential talent pool, and 50% of the potential client base. Women make many financial decisions as individuals or for their families and we need to understand and serve the women’s market. Our workforce is about 70% female, so there is a compelling business case to ensure we are attracting and retaining the best talent, enabling them to perform at their best, and achieve their full potential at all levels of the organization. As we look at cultural diversity, I sometimes say to people, “Ride the subway in Toronto or walk the streets of Vancouver and you can certainly see a strong business case.” Visible minorities currently make up about 13% of the Canadian population and this is projected to exceed 20% in the next twelve years. So our client markets are changing with the changing population. Having a culturally diverse workforce and understanding their
