Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at workplaces.
The Canadian insurer is planning a 30% increase in minority representation in leadership positions by 2025, while hiring at least 25% through its graduate program, Manulife said in a statement.
A number of companies, including Microsoft Corp, Alphabet Inc’s Google and Royal Bank of Canada, are confronting discrimination after the death of George Floyd at the hands of Minneapolis police triggered protests in the United States against racial inequality.
Last month, Manulife and Bank of Nova Scotia pledged C$3.5 million ($2.58 million) and C$500,000, respectively, for diversity initiatives.
The Canadian Council of Business Leaders Against Anti-Black Systemic Racism in June to commit to increasing Black representation in their workforce and boardrooms by 2025.
($1 = 1.3576 Canadian dollars) (Reporting by C Nivedita in Bengaluru; editing by Anil D’Silva)
Was this article valuable?
Here are more articles you may enjoy.
How Insurers Know When It’s Time to Scale AI 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
