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Many investors mistakenly believe their vote doesn't make a difference. In fact, investors do have influence over the governance and the future of the companies they own.
For example, in recent years, shareholders have taken steps to promote sustainable business practices, to elevate issues related to the environment and climate change, and to encourage actions to increase gender and ethnic diversity.
Shareholder proposals can also lead to greater disclosure and transparency into operations, affect changes to hiring practices or executive pay and influence the composition of a company’s board.
For large, publicly traded companies, one of the most impactful ways proxy voting has an effect is through the election of board members. Board members can serve as the shareholders’ representative to management and have significant influence on the strategic decisions and behaviours of the company they oversee. Beyond simply making your voice heard, by engaging in the proxy voting process you can have a positive effect on the companies you invest in. Voting —either in person or by proxy—encourages better corporate governance.
As a shareholder, subject to certain shareholder ownership requirements, you also have the right to introduce resolutions or proposals on any topic to company management and ask that they are voted on at the next shareholder meeting.
Whether you are a proxy voting expert or new to the process, you have the opportunity to vote across a range of topics. Take this interactive quiz to explore the ways voting your shares can make a difference and see how you compare to fellow investors. When you are done you’ll be ready to influence your financial future and own your vote.