07 Mar 2019
Louise Martel
Partner | B.A.A, C.R.I.A. | Human resources consulting

International Women’s Day, March 8, is an opportunity to take stock: what about the representation of women in senior management positions?

According to Louise Martel, Partner in Human Resources Consulting, while the current situation does not yet reflect the acknowledged determination regarding women in senior management positions, a balance should be achieved in the not-too-distant future. What’s more, companies seem to be more likely to recruit women to occupy the highest levels of management.

Several studies indicate that Canada is a leader when it comes to gender equality. For its part, Quebec is among the most equalitarian societies on the planet. Despite the similar results of numerous studies in this area, as shown in a study published by Grant Thornton International, Women in business: building a blueprint for action, it’s important to temper these findings with the following data.

Women’s roles:

  • 34% are chief financial officers (CFO);
  • 20% are chief marketing officers (CMO);
  • 18% are chief operating officers (COO);
  • 16% are chief information officers (CIO);
  • 15% are chief executive officers (CEO);
  • 7% are partners.

What’s noticeable about these numbers is that the percentage of women in senior management positions drops as you move up the hierarchy, even though women are just as ambitious as men.

The glass ceiling that seems to be preventing women from reaching the highest levels is primarily due to archaic structural phenomena still present in today’s society. For example, restricted networking opportunities and caring responsibilities outside work are hurdles that women have to overcome.

On the other hand, men are three times more likely than women to move from manager to vice-president. To say the least, we still have a long way to go before full gender parity is achieved.

Another fact that modifies the picture: in the past 20 years, there has been virtually no progress in gender parity and, if things don’t change, it will take more than 30 years to bridge the gender parity gap.

The winds of change are blowing, the profile of tomorrow’s business leaders is evolving

Organizations, whether they are in the public, parapublic or private sector, want to hire women for senior management positions. Many businesses are preparing for tomorrow’s leaders. The next generation of leaders will be more eclectic and the presence of women will be stronger. The growing awareness of diversity has led organizations to review their positioning and consider that tomorrow’s leader may well be a woman.

Diversity is good for business

It seems that women’s representation on boards of directors helps increase profitability. Although the cause-and-effect has not been proven, some experts have proposed the following explanation: the diversity in expertise, culture and points of view helps improve the quality of discussions on social issues and, hence, leads to better decision making.

The skills women bring to the table complement those of men. Generally, women are more objective when making decisions. They use a methodology that meets the organization’s needs. They are able to take a step back and have the ability to question themselves, which fosters innovation. Several studies show that a gender mix on a board of directors has a significant impact on business growth.

Evolving behaviours

Men’s behaviour and perceptions have evolved considerably in recent years. You will recall the #MeToo social movement that shed light on the full extent of the problem of the relationship between men and women. This collective awareness has not escaped the notice of the business world.

We are seeing that a number of economic players are starting to adopt new measures, such as flexible working hours, to attract women who want to build a career and still maintain a family life.

What actions can businesses put into place?

Businesses must assume their responsibility and play a key role in this initiative. This must be reflected in and conveyed by the corporate culture. Businesses must support women talent internally, hold awareness meetings with senior management, define quantifiable objectives and implement measures to help women reach their full potential and advance their career internally. One such tool could be mentoring.

The next few years promise to be exciting for women’s place in the highest corporate levels. If businesses implement certain measures, women’s representation in senior management should improve. Nevertheless, women must overcome certain preconceived ideas and learn to put themselves forward more than ever, because great business opportunities await them.

07 Mar 2019  |  Written by :

Louise Martel is a partner at Raymond Chabot Grant Thornton. She is your expert in human resources...

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06 Mar 2019
Christian Menier
Partner | CPA, CA, M. Fisc. | Tax

Just in time for tax season, Protégez-vous magazine published an article with the main tax credits and deductions available for homeowners.

These credits and deductions apply to buying or selling a property, renovations and rental income.

Christian Menier, Tax Partner at Raymond Chabot Grant Thornton, contributed to the article with useful advice and reminded new homeowners of the importance of submitting claims or notifying their accountant about their new status.

“As surprising as it may seem, some clients forget to let us know they’ve become homeowners. We only notice the change because they’ve changed their address.”

Christian explains that there are two interesting measures for new owners: the federal home buyers’ amount and, since 2018, the Quebec first-time home buyers’ credit. Terms of eligibility are similar to those of the Home Buyers’ Plan (HBP), that is, you did not own a home in the previous four years.

He goes on to say that these tax measures help cover some of the costs associated with buying a home: transfer fees (welcome tax), inspection, notary, moving, etc.

Read the article in Protégez-vous (for subscribers only).

For assistance in completing your tax returns, consult the online Tax Planning Guide.

To get the help of a professional, use our taxo.ca service, an online accounting service for individuals that is available all year long. You can quickly enter your data, at any time, and let our professional handle the calculations for you.

Remember that the tax filing deadline is April 30, 2019.

07 Mar 2019  |  Written by :

Christian Menier is a partner at Raymond Chabot Grant Thornton. He is your expert in taxation for...

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27 Feb 2019

The Les Grands de la comptabilité 2019 report published by Les Affaires last February showed that Raymond Chabot Grant Thornton is staying the course in its growth and continues to reinforce its market position.

Aggressive pursuit of technological shift

Again this year, the firm has maintained its growth, especially thanks to two major acquisitions: Laberge Lafleur Brown, enabling the firm to open a second office in Québec City, and FPM360, specializing in finance function consulting services. According to Les Affaires, the latter acquisition demonstrates Raymond Chabot Grant Thornton’s aggressive pursuit of the digital shift.

Emilio Imbriglio, President and CEO, said: “We are pleased to have acquired FPM360’s expertise and technological tools. The arrival of some 50 experienced professionals almost doubled the size of our team in this field.”

In this same vein, the National Bank and BDC have begun proposing the Operio digital platform to their clients. This platform, powered by Raymond Chabot Grant Thornton’s subsidiary, offers integrated accounting consulting services to SMEs.

Growth despite labour shortage

The labour shortage, especially in the IT field, is pushing firms to review their employee engagement and retention measures. The measures implemented by Raymond Chabot Grant Thornton are bearing fruit: “It’s not easy but we’re managing to attain our objective of always recruiting from the best applicants in a sector,” stated Emilio Imbriglio.

Read the Les Grands de la comptabilité report. on Les Affaires (for subscribers).

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26 Feb 2019
Mario Morin
Partner | FCPA, FCA | Assurance

Raymond Chabot Grant Thornton is proud to count in its ranks a new recipient of the prestigious title Fellow (FCPA) of the Ordre des comptables professionnels agréés du Québec.

Mario Morin serves as Vice-President of the Québec City and Regional Urban Centres region. In this capacity, he plays a highly strategic role where his talents of a seasoned unifier, visionary and manager shine through.

Since he began at Raymond Chabot Grant Thornton in 1989, Mario has always given his utmost to provide quality services and strive for excellence, which has enabled him to build performing, passionate and dedicated teams focused on client service. He believes in the importance of transparency, collaboration, knowledge-sharing and collective intelligence. This recognition is a testament to his great leadership and exemplary professionalism.

Beyond his illustrious professional career, Mario has volunteered in numerous initiatives and contributed to the development of communities and those involved.

Mario also stands out through his qualities as an inspiring leader, using his expertise and commitment to make of this region and its talent a distinctive community: it’s no surprise that he has received this hallmark award.

Following Paul Bérubé, Edmundston office Partner, who was named a Fellow last January, Mario joins the ranks of the twenty or so of our Fellow Partners. This is truly a proud moment for Raymond Chabot Grant Thornton!

07 Mar 2019  |  Written by :

Mario Morin is an assurance expert at Raymond Chabot Grant Thornton. Contact him today.

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