In 2016, shortly after being elected President of the Desjardins Group, Guy Cormier made a striking observation: although women held 70% of positions across the organization, they made up only 23% of senior management – and were rarely present on executive committees. From that moment, gender parity became a strategic priority for Desjardins – not just as a matter of fairness, but as a way to better reflect member expectations and keep pace with social progress. As Guy Cormier puts it: “The diversity of experiences and perspectives is a key driver of our performance and innovation.”

Setting the tone as leader

From the very start of his role as president, Guy Cormier made gender parity a personal and public priority. He actively championed the organization’s commitment to equality, sharing the message on multiple platforms. He also recognizes that the road to parity will not be easy. Internal and external resistance would be part of the journey. He firmly states: “We must have the courage to maintain our commitments, even in the face of criticism or internal resistance. These challenges should not distract us from our objectives.”

“Some people told me that if we’re too ambitious in our equality objectives, we’ll lose male candidates to our competitors! But how many women will we lose if we do nothing?’’ – Guy Cormier

Make a rigorous diagnosis, act, and then measure progress

To fully understand the environment in which it navigates, Desjardins Group carried out a global internal diagnosis on equity, diversity, and inclusion. It then proceeded to compare itself to competitors. This data-driven assessment served as a real wake-up call for senior management. It prompted them to take meaningful steps and implement a series of concrete actions to drive organizational change.

Clear governance is key to ensuring gender parity efforts are sustainable over time. At Desjardins, this means using a cross-functional approach to management. Progress is tracked through KPIs that are regularly reviewed and discussed during performance evaluations.

Demand accountability from senior management

Change starts at the top. Guy Cormier’s first concrete action toward gender parity was to form the first-ever parity task force, featuring an equal representation of women and men. The goal? To ensure accountability at the highest levels and keep parity efforts on track, even as leadership teams evolve over time. “As president, I deeply believe that inclusion and parity must be embodied at all levels of the organization. It’s through our example that we inspire our teams,” says Guy Cormier.

To drive real progress on equity, diversity, and inclusion (EDI), Guy Cormier has put key structures in place:

• A dedicated EDI Office and a governance team made up of senior leaders to ensure alignment with Desjardins’ overall vision.
• An EDI performance report presented to the Board of Directors each quarter to track progress and maintain accountability.
• EDI performance reviews every six months with first vice-presidents to monitor progress and reinforce leadership commitment.

According to Guy Cormier, setting targets, launching strategic initiatives, and building accountability mechanisms are all important – but they’re not enough on their own. The real driver of change is people and their willingness to make a difference. As he puts it: “As long as there are excuses and evasions, it won’t work.”

He believes that men have a crucial role to play and that women must also act as allies to their colleagues. This underscores the importance of internal networking initiatives: “As leaders, it’s our responsibility to spotlight female talent and open doors for them to step into strategic roles.” For Desjardins, solidarity is a key pillar that enables everyone to move forward together.

Take action on a larger scale: nurture all female talent

Many companies today focus on developing team members identified as having high potential, often overlooking a significant portion of their workforce. Under Guy Cormier’s leadership, Desjardins Group chose to take a broader approach, engaging a wider range of individuals to create a more substantial impact.

To support this effort, Desjardins established the Empowering Women group, an initiative designed to elevate women’s leadership and improve gender parity both within Desjardins and in society at large. The A Effect is a key partner, with its programs being an integral part of the Empowering Women initiatives.

Desjardins also takes an intersectional approach to reach all women, regardless of age, background, or position. It tailors its programs to provide more personalized support:

An impact on talent retention

Parity also has a positive impact on the employer brand. The new generation of workers values the societal impact of businesses and chooses to join organizations based on their actions and values. As a result, gender diversity is a key priority for attracting and retaining top talent. For Marie-Huguette Cormier, Senior Vice-President of Human Resources at Desjardins, “Our organizations have a responsibility to create environments where everyone feels inspired to thrive and be authentic at work. And that benefits everyone. Beyond advancing to higher-level positions, employees who benefit from Desjardins’ initiatives feel more engaged and appreciative of the organization, which in turn contributes to their retention.”

Impressive Results

In just a few years, Desjardins Group has reached gender parity across most levels of its organizational hierarchy and has been recognized as one of the best employers in the country for 13 consecutive years. In 2022, Forbes even ranked it fourth in the world for women. Over the past seven years, Desjardins has also earned Women’s Governance certification five times at the Gold level and twice at the Platinum level – an acknowledgment of its strong practices supporting the development, advancement, and representation of women.

Behind these accolades lies a firm conviction: that championing gender parity is both the right thing to do and a smart economic strategy. “Today, the presence of women at the management table makes a huge difference in how we show up as leaders and how we care for our members,” says Guy Cormier.

Desjardins has put in place a wide range of innovative strategies, driven by a clear vision and disciplined execution. The results speak for themselves – positioning the organization as a true leader in its field.