Author: Claire Edwards

As the year comes to a close, we take a critical look at the 2024 trends in women’s advancement to better understand what needs to be done in 2025 to keep the momentum going.

A big-picture look

Overall, gender equity in the professional setting did not see a lot of advancement in 2024, but there were a few wins for women in the workplace.

McKinsey & Company and Lean In’s 2024 Women in the Workplace report shows that 29 per cent of C-suite leaders are women, a jump from just 17 per cent back in 2015. And in the last decade, female representation has increased at every level. There is no denying that we’re making headway to gender parity, but at what speed?

According to the World Economic Forum’s 2024 Global Gender Gap Report, in Canada, the gender gap is 76.1 per cent closed, 0.1 per cent less than last year. Canada also dropped six rankings, coming in at 36th in the Global Gender Gap Index 2024 rankings.

What do companies have to say?

Seventy-eight* per cent of companies say gender and racial diversity are high priorities; this is 10 per cent less than in 2017. Since 2022, formal mentorship programs focused on women have declined from 48 per cent to 37 per cent, and internship programs for women have dropped from 24 to 11 per cent.

There’s been an increase in DEI training for managers, but it’s not proving to be overly effective. Ninety-one per cent of companies offer management training to create respectful and inclusive environments (compared to 82 per cent in 2022). Still, only 54 per cent of employees say their managers actually encourage this type of behaviour.

Eighty-six per cent of companies offer bias training for employees and 60 per cent offer allyship training, but only 11 per cent of men recognize microaggressions against women.

According to the Deloitte Women @ Work 2024 report, 43 per cent of women say they experienced microaggressions or harassment (or both) in the past 12 months. This is one per cent less than in 2023.

What does this mean for 2025?

The needle is moving, but slowly. McKinsey & Company and Lean In estimate total gender parity is 50 years away.

It takes a collective effort to advance gender diversity, and as we head into the new year, Axis is committed to championing gender equity and helping drive change. We will continue to celebrate the advancements and positive actions being taken, and offer more opportunities through our events, programs and workshops, where women in business can connect, network and advance professionally.

Together, we can keep opening more doors for women on our journey to gender parity.

Keep an eye out for Axis Connect’s 2024 numbers on women in the workplace coming soon. Stay up to date with what’s happening in women’s advancement and become an Axis member today.

*All statistics have been pulled from McKinsey & Company and Lean In’s 2024 Women in the Workplace report (focused on women in corporate America) unless otherwise stated.

Everything you need to know about the Calgary Influential Women in Business Awards nomination process.

Every year, we host the Calgary Influential Women in Business (CIWB) Awards to recognize and celebrate the people and organizations who are advancing gender diversity and inclusion in business. First launched in 2020, this gala event has quickly become a must-attend with more than 1,400 local visionaries and leaders ready to celebrate the honourees. As we continue to toward gender diversity and equity becoming the industry standard in professional spaces, it’s vital to recognize the remarkable leaders who are helping change the landscape along the way. Join us in celebrating the changemakers helping move us forward.   

The 2025 nominations are now open. Here are a few things to know.  

• • • Nominations are open until December 31, 2024. 
    • Winners will be announced on International Women’s Day, March 8, 2025. 
    • The awards ceremony will be held April 16, 2025. 

Who to nominate

Do you know inspiring professionals helping Alberta’s business landscape reflect more diversity in its leadership? Take a look at the CIWB categories and see which one applies to your nominee best.  

CIWB will announce five women and one man as winners. The categories are professional services, large enterprise, small-medium enterprise, social enterprise and male champion. 

Once you find the right category, make sure your nominee’s company headquarters is based, or has significant presence, in Alberta. All nominees must identify as female (with the exception of the male champion category) and be available to attend the Awards Gala on April 16, 2025, in Calgary, if selected. 

How to nominate

Now that you know who to nominate, log in or register on our website and complete the online nomination. You will need to provide two to three letters of recommendation, a minimum of two reference contacts and an up-to-date curriculum vitae highlighting key elements of the nominee’s career and education. Most importantly, make sure to highlight how your nominee is championing and supporting women in the workplace with clear examples of impact. After that, it’s as simple as pressing submit! 

We judge the nominations based on professional accomplishments, community involvement, the promotion and advancement of women and overall influence on the Alberta business community. 

Winners will be announced in March. Good luck to all nominees!  

To learn more, visit our website. 

The Calgary TELUS Convention Centre was vibrant with energy as leaders in all sectors across the city joined us for our third Axis Connects Leadership Forum, powered by ATB. The day offered thought-provoking, dynamic and engaging conversations sparked by our incredible roster of speakers. Almost 600 mid-to senior-level professionals gathered to challenge preconceived notions of leadership, network and build strong partnerships.

The 2024 Forum had a resounding message: gender diversity in the workplace is a strategic advantage, a driver of innovation and a surefire way to success. Together, we can collectively work to advance women and create a more inclusive and equitable standard.

Here’s a recap of some of the empowering experiences, expertise and advice our speakers shared.

Dr. Ty Wiggins kicked off the day with a fireside chat about leadership transitions. We got to hear his insights on what characteristics make a great CEO (resilience, empathy, emotional intelligence and communication), and we learned some tips to make the leap to CEO easier, like building a good relationship with the board and knowing other CEOs who will be able to support you.

Zabeen Hirji discussed responsible leadership and the forces of change shaping the future of work. Her advice on how to handle being overlooked and stand out? Stop thinking about how you would be great in a higher role and start taking on those responsibilities and acting like you already have it.

“Embrace your leadership journey with purpose, courage and curiosity. You have the power to shape the future, not just for yourself, but for your employees, organizations, communities and beyond” –Zabeen Hirji

The breakout sessions helped us hone our negotiation skills with Joanna Shea, look at what’s next for Alberta with Cristina Lopez and Gitane De Silva, and examine and help shift the existing gender data gap with Danika Kelly and Janine Rogan.

Over the lunch hour, the Right Honourable Stephen J. Harper took the stage and discussed how the U.S. election results impact Canada and shared his hope for the future, not only in Canadian politics but in the overall landscape for the future.

“If you’re a young person who’s got passion, who’s got real education, who’s focused on what you want to do and is prepared to shape those ends to serve the needs of many others, I just think the sky is going to be the limit. I think it’s going to be a great time to be alive. I don’t think we should be pessimistic at all, and particularly looking at the history of women, I think the era to come is going to be the best era in human history to be a woman ever.” –Stephen Harper

Diana Matheson, Russell Reimer and Alyson Walker shared the promising new era of women’s sports, changing the narrative that it doesn’t make money or people aren’t watching. The discussion highlighted why investing in women’s sports is a good business move and shared other ways that we can all empower women in sports.

“Greatness is gender-neutral.” –Russell Reimer

Dr. Indira Samarasekera and Dr. Martha Piper captured the audience with a dynamic discussion as they shared their experiences with mentorship and sponsorship, seizing opportunities, making decisions that reflected their values even when people didn’t agree and having the nerve it takes to get to the top.

“What we often lack is nerve. Nerve to be yourself, do it your way, think differently, act in a peculiar way, reinvent yourself, take on power, make tough decisions. […] It’s always used as a negative attribute for women, almost a pseudonym for ambition. ‘They’re too ambitious, they’re too nervy.’ We believe it’s a trait to encourage in women and not discourage.” –Dr. Martha Piper

To close out the speaker sessions, attendees engaged in an interactive session hosted by Sabrina Sullivan and Meghan Donohoe to practice foresightful leadership. The room was encouraged to think outside the box, ask “What if?”’ and reimagine leadership for the uncertainties and complexities of the future.

“The promotion of women in business is really important to our economy and to our future,” says former Prime Minister Stephen Harper. “It’s great to have the Margaret Thatcher’s of the world who will power their way through, but ultimately, for most people, you need a critical mass to get that kind of change. I know that’s what Axis is doing and doing successfully.”

Missed out on this year’s forum? Become an Axis member today, and get the news first for future events.

How do you make a system that wasn’t built for you work?

How do you make a system that wasn’t built for you work?

As Financial Literacy Month is in full swing, conversations, tips and tricks on managing money are being shared, often through a one-size-fits-all lens. The reality is that conversations about money need to be different for women.

Women approach finances uniquely: they make, spend, save and invest differently than men. Historically, banking didn’t include women — we weren’t able to open a bank account or get a mortgage without a male co-signer until 1964. The lack of consideration of women decades ago has left us with a system that doesn’t work in our favour.

The system doesn’t account for the different rewards and challenges unique to women’s life journeys. Women make less than men, pay more for the same products, have different financial risk tolerances and do the majority of unpaid work. We tend to be the primary caregivers for children and aging parents, which affects income and career growth when we take a career break or opt for flexible work options.

Traditional wealth planning doesn’t take these factors into account, and it’s not hard to find financial gender bias: it’s in credit algorithms that don’t consider that women are more likely to have a non-linear income, in retirement calculators that miss the fact that women tend to live longer, and in the bias (conscious and unconscious) we still face by some financial advisors.

While it’s a systemic issue that demands a systemic solution, there’s hope, but it requires us to take charge of our financial future today.

A brighter future

The strides that women have taken to increase financial literacy and success should serve as a reminder that things are changing for the better.

Women’s incomes are growing, and more women feel confident making financial decisions than ever before. Women are increasingly making up more of the workforce, controlling more financial assets and are responsible for the majority of consumer spending — women play a large and important role in controlling wealth.

Taking charge

The time is now to actively shape your financial destiny. Taking charge is not just about understanding your finances today but about making informed decisions for tomorrow — decisions that will affect not only your life but also the generations to come.

Here are a few basics to get you started, no matter your current financial position:

• • • • Know what you have — and how to grow it. You may already be very involved and knowledgeable about your financial situation, that’s the first step. If you’re not, it’s not too late to start; you have a stake in your family’s finances. Take the first step by gaining a clear view of your household accounts and income (sometimes the ‘household’ part is the most difficult). Having this in one place and reviewing it regularly will give you the perspective you need to make growth-related financial decisions.
      • Learn how much money you need to have to maintain your desired lifestyle during retirement. Take into consideration any planned or unforeseen circumstances that may involve you stepping away from work, such as caring for elderly parents or an older spouse. Adapt your wealth-building strategy to ensure you stay on track, regardless of life’s curveballs.
      • Talk about money — openly and often. Don’t let money be a taboo topic. Conversations about finances should be as common as discussions about health or career growth. By discussing money, especially with other women, you break down barriers and learn valuable insights. Seek mentors, share experiences and ask questions. Lean on others and learn from their mistakes and successes.

Owning and acknowledging the financial challenges you face helps create an effective plan to navigate your finances and be better prepared for the uncertainty that will come with it, too.

At Axis, we know that we can all play a role in helping move the needle forward for women’s financial success. We encourage you to do just that by acknowledging the myriad of factors that impact a woman’s financial journey and the disparities we face, celebrating the growth of women’s financial power and creating safer spaces to have more uncomfortable discussions about money.

Are you interested in more conversations about money?

This month, we hosted an engaging and thought-provoking Career Development Dialogue with Curtis Stange, CEO of ATB Financial, and Allison Comeau, VP of strategy and growth, ATB Advisory Services. The session offered deep insights into ATB’s ongoing journey to address systemic issues and create a culture where everyone can thrive. It was an inspiring look at how ATB Financial is committed to championing diversity and inclusion, not only through policies but by fostering a culture of allyship and accountability.

Curtis Stange on breaking barriers and driving systemic change

As the CEO of ATB, Stange opened the discussion by sharing his experience leading change. He emphasized the importance of holding the organization accountable for equity initiatives, noting the progress made but also acknowledging there is still work to be done.

One of ATB’s most notable achievements is closing the compensation gap. ATB’s focus on equity is not just a box to tick under ESG goals; it’s about creating sustainable diversity of thought. Stange explained, “Diversity allows for better, albeit trickier, conversations, but the end result is always more impactful.” This diversity is reflected in the leadership team, where women now make up 50 per cent of senior leadership and board members. This is a significant jump from earlier years when only one in nine women were part of the executive team. He noted that when women are promoted into senior roles, it sends a powerful message to others in the organization that they too can achieve leadership positions.

Stange also discussed the practical steps ATB is taking to further inclusion. The company has revamped its recruitment practices using gender decoders to ensure job postings are not unconsciously skewed toward men. Additionally, 96 per cent of ATB’s business bankers have completed gender bias training, with plans to extend this training to wealth advisors and other areas of the bank.

Allison Comeau on wealth transfer and community empowerment

Comeau took the conversation in another exciting direction, discussing the shifting dynamics of wealth transfer in Canada. With economic challenges and rising costs, more and more families are opting to transfer their wealth earlier to assist the younger generation. “30 per cent of new home purchases in Canada have down payments that come from someone other than the homebuyer” she noted, illustrating a growing trend of intergenerational financial support.

This shift has positioned initiatives like W by ATB to play a critical role in empowering communities. W by ATB aims to help women business owners and their families navigate these changing financial landscapes, ensuring that wealth transfer is not just a transaction but a way to build stronger communities.

Stange didn’t shy away from acknowledging historical issues in the finance industry, stating, “Bankers have been jerks for a long time,” and emphasizing that ATB is working hard to change that by focusing on what women in finance actually need from a workplace for everyone to thrive. ATB is clearly working to create a more equitable financial future, setting a strong example for what it means to lead inclusively in today’s evolving world.

If you missed this event, keep an eye out for future Career Development Dialogues, or send us some suggestions to hello@axisconnects.com!

Since 2019, we’ve been helping advance women professionally and championing gender equity in the workplace. In just five years, we’ve welcomed over 5,000 members, supporting women on their journey to fulfill their professional potential. Let’s take a look at some of the inspiring feedback and data we’ve received from our members over the past year.

Who are our members?

According to the 2024 member survey, our membership reflects mid- to senior-level roles in different industries across Calgary. 40 per cent of members are aged 25-44, and 34 per cent are in the 45-54 range. And while most members identify as women, men and non-binary individuals also make up the membership. The conversation on gender diversity in the workplace involves everyone, especially those in positions to make change happen.

Our mission

In our 2024 focus group report, dozens of female professionals in Calgary expressed their views on the barriers women face in the workplace. With many women still facing hurdles in career advancement, our mission is to tackle these issues and work to address the underrepresentation of women in leadership. In Canada, women account for less than 34 per cent of leadership roles, and in Alberta, that number dips as low as 17 per cent. By identifying the specific challenges women face, we hope to implement strategies to create more equitable spaces.

• • • 86 per cent of participants emphasized the importance of formal mentorship and informal socializing to grow networks and sponsorship opportunities. Yet, it’s been reported that many women are not invited to participate in such activities.
    • 41 per cent of participants expressed difficulty balancing their career and family obligations and felt women were at a disadvantage in this area.
    • 66 per cent of participants feel there’s a lack of flexibility in the workplace, a major factor women take into account when considering a position.

Participants also listed the difference in how male and female characteristics are valued, pay inequity, lack of female leaders and promotion bias as other factors that lessen the opportunities of professional potential for women.

Our impact

When asked why they joined Axis Connect, 47 per cent of members said it was to further develop as a professional and 35 per cent to expand their network.

Our work is making a difference — helping to address equity in the workplace, connecting women professionals and helping women advance their careers.

• • 90 per cent of members are very or somewhat likely to recommend Axis to others.
  • 84 per cent think Axis is fulfilling its mission well or very well.

Join thousands of other women accelerating their careers and become a member today.

On November 13, 2024, the Axis Connects Leadership Forum will bring together 500 mid-to senior-level corporate professionals at the Calgary TELUS Convention Centre. Here’s what to expect.

Hear from inspiring keynote speakers

Every year, the forum hosts some of Canada’s most prominent leaders to share insights, knowledge and experience to help inform and inspire attendees. This year, topics include the future of leadership, sports, politics and more.

Former Prime Minister Stephen J. Harper will discuss the impact the U.S. election will have on Canada, CEO and executive transition practice lead Dr. Ty Wiggins will share insights from his recent book, The New CEO, and Zabeen Hirji, executive advisor on the Future of Work, will explore leadership in a changing landscape. Meghan Donohoe and Sabrina Sullivan will also lead an interactive session on leadership for the future.

Russell Reimer, Alyson Walker and Olympic medalist Diana Matheson will discuss the business of women’s sports, and two trailblazing women in leadership, Dr. Martha Piper and Dr. Indira Samarasekera, will share their experiences breaking down barriers to become the first female presidents of two of Canada’s largest and most prestigious research universities.

Learn and interact at tailored workshops

Attendees can engage in breakout sessions where speakers take a deep dive into specific topics. The workshops offer intimate settings with opportunities to connect through individually tailored conversations.

Choose from an interactive session on negotiation and conflict types with Negotiations Collective CEO Joanna Shea, an insightful look at what’s next for Alberta with Cristina Lopez and Gitane De Silva or a discussion on the gender gap in data with Janine Rogan, author of The Pink Tax, and My Normative CEO Danika Kelly.

Network, network, network!

In a room of people looking to take their leadership to the next level, the forum is designed to make networking easy. Get to know people who have faced or are facing similar professional hurdles. Chat with professionals across the city during the networking cocktail hour, discover how other leaders have overcome barriers or catch up with colleagues between speakers.

Join hundreds of like-minded women on their journey to professional growth and leadership potential and expand your network at this year’s leadership forum.

If you can’t attend the whole day, remember that you can still join our networking event!

Learn more at axisconnects.com/axis-leadership-forum/.