In this BPM TV Special, host Josh Welsh speaks with Diana Godfrey, Senior Vice-President of Human Resources at Fidelity Canada, who shares unique insights into the company’s workplace culture, what sets Fidelity apart and why it has been named one of BPM’s top employers this year.
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[00:00:08] Josh Welsh: Hello and welcome to this BPM TV special. My name is Josh Welsh, Lead Reporter for Benefits and Pensions Monitor. As you may have seen, BPM has just released our 2025 Top Employers list, naming best companies to work for in the Canadian benefits, pensions and institutional investment space this year. Today, we are lucky to be joined by Diana Godfrey, Senior Vice President and Human Resources at Fidelity Canada, who was named as one of our top winners. Today, Diana will share a unique insight into the company's growth, not only as head of people and workplace culture, but as an employee herself, having joined the company in 1995. Diana, thank you for joining us and congratulations to you and the Fidelity team.
[00:00:50] Diana Godfrey: Thanks, Josh. Thanks for having me today.
[00:00:53] Josh Welsh: My pleasure. Diana, I want to start off and just ask you, you know, how does it feel to be one of BPM's top employers of the year?
[00:01:03] Diana Godfrey: It's an honor, to be honest. This is the first year that we've engaged in this survey and really thought about the programs that we have, particularly as it relates to the subject matter at hand in the magazine. And it made us think about things differently. And we're really pleased that what we do resonates with the organization and that our efforts have been recognized. So we're grateful. Thank you.
[00:01:32] Josh Welsh: That's great. That's awesome. So happy to hear that. What do you think Fidelity has done over the last year to be recognized for this award? Is there anything that maybe stands out to you?
[00:01:42] Diana Godfrey: You know, I don't think it's any one year that matters. I think it's about incremental change. I think it's about staying true to yourself. Understanding what's going on in the environment that we operate in, making sure that we understand what our employees' needs are. It's not all about giving, you know, everything for every person, but what has the most impact to the largest group of people, all while being client-centric. And so if our employees are happy and engaged, then we know that our clients are more likely to receive the service that's really important to us.
[00:02:23] Josh Welsh: I think that's really important, especially as we kind of keep hearing about, you know, the importance of well-being and mental health and just making sure that you're meeting the employees' needs where they are. And I think that kind of speaks to the work that you guys are doing and certainly being one of the top employers as well, you know, ensuring that you're meeting, again, those needs, I think is crucially and utterly important this year and, I mean, every other year, I would say. Speaking of that, how is Fidelity building a better future for its investors?
[00:02:54] Diana Godfrey: Well, it's about ensuring that we have the products that they need in the market and that they're available in the marketplace and reaching them in the way that they want to be reached. So we work very closely with advisors. We work very closely with pension administrators to ensure that our products are available, but also that the products are performing and that it's what the clients want. And so we spend an awful lot of time measuring and evaluating what we're doing and how it resonates. And I think the reality is, if we're all marching to the beat of the same drum, it goes a long way to ensuring that we're meeting the needs of our clients.
[00:03:38] Josh Welsh: I think that makes sense. Can you explain to me why Fidelity's values are focused on trust and integrity? Why these two values specifically, and in particular?
[00:03:49] Diana Godfrey: Well, I think the reality is that we're granted the privilege of serving the clients that we service. And so we need to gain their trust. And the best way to gain trust is through having integrity. And I think the real differentiator is that our employees all share that sort of common set of values. And it's easier to work for an organization that finds those things, you know, to be important in the underpinning of everything that we do. And so we talk about them and we talk about what does that look like and how does it resonate and how do we demonstrate all of those things every day. And if you do that and you act with compassion, it's much easier to move forward.
[00:04:40] Josh Welsh: I think that makes sense. Maybe a little bit to build on that. Why do these values matter? I mean, maybe either for Fidelity or just in general for any other employer?
[00:04:51] Diana Godfrey: Well, I think the reality is if you can't trust your employees and they can't trust you, it's very hard to move forward. And when you demonstrate the competency or you demonstrate integrity, there's an element of trust that's created automatically. And I think when you're servicing clients, they're looking for those things too. So while we may appear conservative, we're thoughtful, while our employees might like to move forward more quickly, they understand that it's important to ascertain what the impact is to the business, to our clients, before we make grandiose changes. And I think the reality is when we talk about what we need to do in the workplace, the reality is if your employees trust you, it's much easier to change and to move forward and engage them as part of that change. And so I would say every employer wants to operate from a place of trust and that their clients and their employees, you know, trust that there's integrity in all that they do.
[00:06:01] Josh Welsh: Absolutely. That's great. I think that makes sense. So maybe, Diana, you can kind of give me a little bit of insight in terms of how Fidelity puts the client first.
[00:06:13] Diana Godfrey: Well, I would say given that we rely on distribution channels, there's two sets of clients. We have the end client, who's the actual investor, whether they come to us through a pension or whether they come to us through an app or through an advisor, but there's also those intermediaries as well. And so I think the reality is we have to work closely with all constituents to understand their needs and to ensure that we're having open dialogue and understanding what the next thing is that people are looking for. So if you're working through an intermediary, you need to hear what their needs are, but you need to understand what the end user is asking of them as well. Because whatever you can do to make their life easier, the reality is it makes everybody's life easier. And I think it, again, speaks to product, performance, the way that you engage, the level of trust you create with all of the constituents. And your behaviors are what really demonstrate your commitment to those values or to that sort of way of thinking.
[00:07:30] Josh Welsh: Absolutely. And I know a lot of times employers have to make, you know, decisions, whether it's good decisions, bad decisions, tough decisions. What do you classify as a good decision?
[00:07:43] Diana Godfrey: Oh, that's a hard one. I think a great decision is where everybody feels that they've won. You know, that might be unrealistic. It might sound, you know, a little euphoric. But I think the reality is if somebody feels that they didn't win, if they understand the reason why, you can actually gain agreement. And so I think that's we're back to trust again and we're back to integrity. But it's also about communication. It's about sharing what's happening in the organization. It's about sharing, you know, transparently, whatever you can in order to have everybody on board. So I think a good decision is one where people all buy into the decision. It might be for different reasons, and it might be that there's different outcomes for all of the people. But if there's a person who didn't go in thinking it was the right thing to do, but at the end understands why it's a necessity, I feel like that's a win for everybody.
[00:08:57] Josh Welsh: Absolutely. I think that's a great answer. So if Fidelity's values are around trust and integrity, how do you lead example with your own employees?
[00:09:08] Diana Godfrey: I think you need to walk the talk, not just talk the talk. So I talked to, you know, I shared the necessity for transparent communication and ongoing dialogue. And so some of the things that we do is each department has their own town halls. We do company town halls as well. And then we do Fidelity Canada-wide town halls. And at each of those sessions, different pieces of information are shared because it's more granular as you go further down. But in each case, any employee is invited to ask questions. And our goal is to provide responses. And the reality is, if the questions aren't answered in the session, we follow up after so that the person who asked the question at least gets the answer. But most often we post it on our internal intranet site to ensure that everybody understands. So it goes back to, you know, being transparent, ensuring people understand the reason for decisions. You know, you can't share everything right away, but you can over time ensure that you're sharing more and more. And that's really part of what we talk about. And I think the other thing is, you know, listening to what people are saying, listening to your clients, listening to the end investor, or listening to your employees. A wise person once told me many years ago, listening isn't waiting for your turn to speak. Listening is hearing what the person says and adjusting your dialogue or response accordingly. And I think that that's something that we've worked really hard at is finding an avenue to listen. We have an employee suggestion program, but I think we try to operate as a relatively flat organization. So while there's a hierarchy, you know, we operate that anybody can speak to anyone and anybody can have a good idea. And I think that's part of what makes us different, to be honest.
[00:11:19] Josh Welsh: So, Diana, as a plan sponsor, how are you helping your Fidelity employees prepare for retirement?
[00:11:27] Diana Godfrey: You know, Josh, there's so many ways to respond to that question. But the reality is, you know, like your readers or viewers. The reality is we rely on other organizations to help us as well. I spoke earlier about record keepers and intermediaries. So we too rely on those people as our partners. But I think the one thing that's different for us maybe is that we're also the organization that provides the investment solutions. So we need to ensure that our products work for all the end users or end investors, but also for our employees. I think the other thing, too, is about making them ready for retirement. So, you know, providing them with the support to make the right decisions. So whether it's investment advice, whether it's education, I think the reality is we work with our internal partners, but we work with our external partners as well to provide those services to our employees, ensuring that while they might be closer to the investment solutions that they're actually just as close and just as thoughtful about the planning. And so that's an integral part of our benefit program. And I know from speaking to many of our clients attending industry events, those are the things that are critical for them as well.
[00:12:54] Josh Welsh: Absolutely. I think that's fair to say. And thank you for highlighting that. Diana, maybe as we wrap up here, I just want to throw it back to you, ask if there's anything that you want to highlight that has led to Fidelity's growth, what's led Fidelity to be a top employer this year, and where you maybe see employers being able to benefit as they move forward in employee rewards, employee benefits, anything else.
[00:13:25] Diana Godfrey: Thanks, Josh. Well, the first thing I want to do is thank our employees because the reality is we can't possibly be a top employer without them. And so they are the ones that demonstrate their commitment to the clients every day. They are the ones who come to work, whether virtually or in person, but they are the ones who set the tone and the culture for the organization. And they are the ones that ensure that they put the clients first. So I think first and foremost, I want to recognize their contributions because that's what makes a difference. I think going forward, one of the challenges, you know, for us will be the changing landscape for businesses and what do we do to adapt. And we aren't followers. You know, we don't follow for the sake of following. We do what's right for our organization. My advice to all would be, don't be a fast follower. Understand what you're doing and what's right for you. And I think we'll adapt as we go along based on what we hear from our clients.
[00:14:36] Josh Welsh: Great. Okay. Well, Diana, thank you very much for your time today. It's been a pleasure hearing from you and hearing what's going on at Fidelity. And congratulations again. We look forward to seeing more in terms of the innovation at Fidelity and where you guys are going from here. Thank you again.
[00:14:53] Diana Godfrey: Thanks so much, Josh. Really appreciate you having me join you.
[00:14:56] Josh Welsh: Of course. Our pleasure. It's Josh Welsh for BPM TV. Thank you for watching. Take care and bye for now.
