Beyond the numbers: Diversity and inclusion at Wave 2022
Wave’s annual engagement survey is an important one. Learning is a part of our culture, and being generous with feedback is a big part of that. Every year, Wave’s People & Culture team conducts a voluntary, confidential survey to understand what we’re doing right, and where we need to try again.
When we saw our overall gender ratio was 80% men and 20% women back in 2015, we knew it was important to do better. Not just for our business, but because it was (and still is) important to be the kind of company where all kinds of people can contribute meaningfully and have a successful career.
Since 2015, we’ve made significant impact by developing equitable hiring practices, investing in training and development, and building a deep culture of inclusiveness internally. Our gender ratio across all of Wave currently stands at 50% men, 46% women, and 4% beyond the binary. As averages can be deceptive, we won’t gloss over the fact that there’s more work to do in Engineering which stubbornly holds tight at 79% men and 21% women. We know that until there is greater access for all genders to pursue education in STEM, we’ll need to focus more effort on this area. And so we are proud of the success of our internal mentorship and leadership development programs and the resulting promotions we’ve seen for many of our women in technology roles.
We’re proud to see representation at all levels, with 52% of Wavers (Wave employees) identifying as a racialized person, exceeding the Toronto average of 47% in 2021. We’ve seen growth in other areas, too. Beyond race, Wave’s 2SLGBTQ+ population has grown over time, with 1 in 5 employees self-identifying as a member of the 2SLGBTQ+ community.
Our engagement survey also found that 20% of Wavers identify as having a mental or physical accessibility need. We are committed to supporting all Wavers, so accommodations can be requested at any point including during recruitment, hiring, and employment. Building supportive systems from the ground up that prevent bias is an important part of creating lasting equity at Wave. These are just a few of the components contributing to our Employee Value Proposition, known as Ready, Set, Go (RSG).
Wave’s leadership team at a Director level is composed of 42% women and 42% people of colour, and 50% of our VPs are women. In our annual increase and promotion cycle this July, we announced 28 promotions, with more than half of those earned by women and 64% going to people of colour.
While we’re proud of our growth in these meaningful areas, we’re also proud of the way we support and prioritize the need to feel heard and respected. Overall, 95% of Wavers feel their managers support them whenever needed, so we know we’re on the right track. Nearly 100% of Wavers feel they work effectively with their teams regardless of location while also still being productive, which is a big win, especially after we embraced hybrid work.
We’re incredibly proud to have earned places on the 2022 lists for Best Workplace for Youth and Best Workplaces for Hybrid Work, as well as our recognition in 2021’s Best Workplaces for Inclusion, for Mental Wellness, in Technology, in Ontario, in Financial Services, for Women, and overall in Canada. Awards like these are meaningful because they are based directly off anonymous employee feedback. There’s no opportunity for edits, adjustments, or in other words: changing the data. Integrity is important to us, and our values are the principles that guide us every day. They guide the way we build our products, run our business, and of course, treat each other.
Come one, come all: Join the Wave team
For folks who believe in our mission to simplify the financial lives of small business owners: we’re here for you, and there’s a place for you with us. Check out our career page for details on life at Wave or links to our postings.
The information and tips shared on this blog are meant to be used as learning and personal development tools as you launch, run and grow your business. While a good place to start, these articles should not take the place of personalized advice from professionals. As our lawyers would say: “All content on Wave’s blog is intended for informational purposes only. It should not be considered legal or financial advice.” Additionally, Wave is the legal copyright holder of all materials on the blog, and others cannot re-use or publish it without our written consent.