Diversity, equity and inclusion

Commitments

Great-West Lifeco and IGM Financial, two of our publicly traded operating companies, have formalized their respective commitments to diversity, equity and inclusion (DE&I) through the adoption of board and senior management diversity policies as well as several policies and statements catering to DE&I within their respective workforce.

GBL has also developed a Diversity & Inclusion Policy which supports and facilitates a diverse and inclusive environment that embraces differences and recognizes their benefits. These differences can be notably age, gender, sexual identity and orientation, disability, ethnicity, cultural and religious background.

In addition, Mackenzie Investments and IG Wealth Management, as well as Canada Life, Sagard and Wealthsimple, have all signed the BlackNorth Initiative’s pledge, which objective is to combat anti-Black systemic racism in corporate Canada. Furthermore, both IG Wealth Management and Canada Life are signatories of Winnipeg’s Indigenous Accord, committing to acting on one goal each year for three years to help advance a specific Call to Action of Canada’s Truth and Reconciliation Commission.

DE&I Strategy and Targets

Great-West Lifeco is putting in place the building blocks to meet the needs of a diverse and multicultural employee population, reflective of its customers. The company has set itself a goal to achieve 50% women in management roles across its business segments by 2030, as well as to increase the number of individuals from underrepresented groups in management roles to 25% by 2030.

Canada Life, a subsidiary of Great-West Lifeco, continued fostering a culture of belonging and through the support of its executive leaders and the commitment of its employee resource groups, the company is building a culture and workplace that’s inclusive and welcoming, where their employees can be their best version of themselves. Canada Life's strategic support of local and national organizations enable them to connect and create a positive impact with diverse communities. In 2025, the company introduced new training for employees focused on building awareness of diverse identities and fostering a culture of belonging. Through tailored learning tracks, employees gained practical tools on how to become active allies and champions for equity and respect in the workplace. Beyond their walls, Canada Life also worked alongside local and national organizations to build bridges, grow connections and make a meaningful impact across Canada. For example, in February 2025 the company helped the Black Talent Initiative bring their signature event, IGNITE, to Winnipeg for the first time – creating a platform for networking, learning and empowerment. Throughout the year they also supported the organization’s other events and initiatives, including their NAVIGATE Summit, and collaborated on workshops alongside the Black and People of Colour ERG. Lastly, in 2025, Canada Life continued to enhance its physical spaces with universal washrooms, wellness areas, improved wayfinding and ergonomic workstations – supporting its ambition to create environments that work for everyone. Beyond physical spaces, Canada Life is also embedding accessibility into its digital platforms to create more inclusive and seamless interactions. 

IGM Financial aims to embed inclusion into everything they do to ensure that its employees and advisors across Canada feel seen, heard and supported. The company's volunteer, employee-led Business Resource Groups (BRGs) are the engine of the company’s inclusive culture, helping sustain momentum, build belonging and translate inclusion into everyday practices and measurable outcomes. IGM supports six BRGs to advance its inclusion goals (Women, Black, Pan-Asian, Pride, diverseABILITIES, Indigenous) and the Green BRG to support environmental efforts. As of 2025, participation in the BRGs has grown to approximately 15% of the employee population.  

Mentorship plays a crucial role in fostering inclusive work environments, increasing employee engagement and retention, and facilitating career growth and leadership development. IGM’s Black BRG launched its third annual mentorship program in 2025, with 25 mentor-mentee pairs across IGM. The six-month program aims to advance the development of Black employees by connecting them with leaders who are motivated to build stronger connections with employees and committed to nurturing a diverse and inclusive culture. In addition, its Pan-Asian BRG mentorship program connects Pan-Asian employees with experienced mentors from various backgrounds. It is aimed at supporting professional growth and skills development, cultivating future leaders and promoting understanding and appreciation of diverse Asian cultures within the organization. The program ran with 39 mentor-mentee pairs in 2025. 

IGM also makes a concerted effort to ensure that everyone understands their role in creating a more inclusive workplace. Since 2020, over 90% of its workforce (more than 3,500 people) has participated in team-based inclusive behaviours workshops. These sessions continue to be offered to new employees. The company has also taken steps to increase accessibility across its group of companies. After completing an organizational needs assessment, IGM created an Accessibility Action Plan to address areas that required attention and made annual accessibility training mandatory for all employees. 

They also revamped their Accessible Emergency Response Plan to accommodate a hybrid work model and ensure employee safety and accessibility remain top priorities. Their partner, Disability:IN, helps them advance accessibility processes, policies and knowledge, and they are represented on its global committees. IGM also continued to make inroads in raising awareness and removing physical, systemic and attitudinal barriers to inclusion across its organization and surrounding communities. In 2025, the company revised its Workplace Accommodation Policy to ensure employees, candidates and new hires have clear pathways for support. In line with the policy, they developed an end-to-end accommodation process, including job aids and healthcare provider templates to improve clarity and consistency. They also benchmarked their disability inclusion practices by participating in Disability:IN’s Disability Index. The findings identified opportunities for improvement they are committed to working on.

In 2025, 89% of IGM Financial’s employees – up from 87% in 2024 – provided information through its Count me in! initiative. The initiative helps direct the company’s inclusion strategies, resources and programs to ensure they are meeting the needs of all advisors and employees and creating an equitable workforce for everyone. 

In addition, to drive continued progress, IGM Financial has a goal of increasing representation of women at all levels of the organization, particularly those from equity-deserving communities. Its targets include no less than 30% women on the Board of Directors, at least 40% women at the assistant vice-president-level or above and 35% women at the vice-president level or above. At the end of 2025, women occupied 33% of vice-president-level positions or above and 37% of assistant vice-president-level positions or above. Moreover, IGM Financial also has a goal of providing access to meaningful employment opportunities for equity-deserving communities, including targets of having 3.5% Black executive and Board roles by 2025, and 5% Black hiring in the student workforce. At the end of 2025, the company continued to exceed its target of having more than 3.5% Black executive and Board roles (at 3.6%) and had achieved 3% Black hiring in its student workforce.