Barriers Indigenous people face when seeking employment in banking

Principal Investigator: Merridee Bujaki, Accounting
Project Title: Indigenous Perspectives on Creating a Better System to Support and Encourage Indigenous Employment
Funder: SSHRC Partnership Engage
Partner: Indigenous Works

There is a discrepancy between the numbers of Indigenous Canadians needing banking services and the prevalence of Indigenous employees in banking to serve or represent them. Indigenous banking needs include retail banking for individuals, business accounts and lending facilities for Indigenous entrepreneurs, and banking services for Indigenous communities. Yet there are relatively few Indigenous individuals working in the Canadian banking sector. A lack of Indigenous representation among banking staff may lead to consequences, such as a lack of understanding of the needs and values of Indigenous clients, customers facing bias or discrimination or inadequate savings, financial planning and investment advice.

A clear understanding of employment barriers encountered by Indigenous people in the banking sector is required in order to attract and retain Indigenous employees in this sector. However, only a minority of employers reported having consulted with Indigenous employees in identifying these barriers. This project proposes to address this lack of consultation by asking Indigenous employees in the banking sector about their experience working in the sector.