Getting Canada out of this ‘she-cession’
After a year filled with major setbacks, Canadian women have some reason for hope.
When Finance Minister Chrystia Freeland introduces the federal budget on April 19, indications are it will include measures aimed at opening up career paths for women. Freeland has signalled that “Canada’s future prosperity and competitiveness depend on the ability of women to participate equally — and fully — in our workforce.”
In his 2021 provincial budget, Ontario Finance Minister Peter Bethlenfalvy was explicit about the specific challenges facing women: “It’s clear we are experiencing a ‘she-cession.’ In large part, this is because more women have tended to work in the jobs most affected by the necessary public health restrictions.”
Measures introduced in the Ontario budget — continued investment in child care spaces, new investments in child care supports and women-specific retraining programs — are certainly welcome. Judging by public announcements, we can feel optimistic that the Trudeau government will follow suit with a female-centric recovery plan of its own.
Child care is an essential first step, both in terms of accessibility and affordability. Nobody should be forced to abandon their career dreams due to child care concerns. The more all levels of government do to address this challenge, the better.
This is not just a government issue. All of us need to rethink our approaches to the barriers holding women back and the role we can each play in knocking those barriers down.
The need for strong and clear female voices to influence policies and spur meaningful action has never been greater. This is why, as a female business owner myself, I am proud to be one of the founders of the Prosperity Project, a not-for-profit organization with members from multiple sectors of the economy, created to mitigate the impact of the COVID-19 pandemic on Canadian women who are being disproportionately affected.
In this work and in conversations with my peers, employees and clients, I see a common thread. Underlying the fundamental issues of fairness and equity, there is a cold hard economic truth: there can be no sustainable economic recovery unless women are fully engaged in it.
Beyond child care, there are many ways private and public sector leadership can make a difference. We know that the sectors hardest hit by the pandemic — and likely slowest to bounce back — such as the hospitality sector have traditionally had large female workforces. Recognizing this challenge, targeted retraining and credentialing support for more women workers can go a long way.
Women entrepreneurs are also more likely to work in sectors harder hit by the pandemic. Access to credit and liquidity is the lifeblood for any small business, particularly those starting out. Identifying ways to make it easier for more female small business owners to access the credit they need is an area where financial institutions, as well as governments, can help open doors.
Finally, all of us — men and women alike — who are privileged with positions of leadership today should take the time to mentor more women building their professional careers.
Throughout my own career in a traditionally male-dominated industry, I’ve seen — and sometimes experienced first-hand — how the tables are often tilted against women trying to establish themselves in their careers. I am extremely grateful to the mentors who helped me along the way, and I now make it a point to use more of my own time and relationships to pay it forward, mentoring and supporting more young women as they set out on their own professional journeys. I know that many others doing the same. Women helping women has never been more important.
There is no magic budget announcement or piece of legislation that will get Canada out of the “she-cession.” Yes, government can, and must continue to, play a leadership role. At the same time, all of us can contribute by broadening our perspectives, and being generous with our resources and our time to help more women succeed.