TD Bank Employee Report Essay Sample
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TD Bank Employee Report Essay Sample
The goal for this business report is to inform TD bank’s initiatives, programs and policies that contributed to making TD bank one of the “2012 best workplaces in Canada”. The report include: Benefits, Safety & Flexibility, Leadership Development, and Feedback of the TD bank. (1) Benefits: amazing health benefits helps TD bank retain their employees (2) Health, Safety & Flexibility: TD bank working so hard on keeping staff healthy and safe and make their employees happy. (3) Leadership Development: TD bank think building talent is critical to their future growth. (4) Feedback: TD bank like to hear feedback
The report shows the four elements make TD bank one of the “2012 best workplaces in Canada”. Also it shows TD bank’s culture is to drive to deliver exceptional customer service and passion of the environment giving back to the communities, trying to create a unique, diverse, respectful and safe workplace for their employees.
This report is the answer of why the TD bank‘s company specific initiatives/programs and policies that contributed to making TD bank one of the “2012 best workplaces in Canada”. First, what is TD bank? The Toronto-Dominion Bank is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank branch network in North America. Commonly known as TD and operating as TD Bank Group (French: Groupe Banque TD), the bank was created in 1955 through the merger of the Bank of Toronto and the Dominion Bank, which were founded in 1855 and 1869, respectively. TD’s Institution Number is 004. The bank and its subsidiaries have over 79,000 employees and over 19 million clients worldwide. In Canada, the bank operates as TD Canada Trust and serves more than 11 million customers at over 1,150 branches.
In the United States, the company operates as TD Bank (the initials are used officially for all U.S. The U.S. subsidiary was created through the merger of TD Bank north and Commerce Bank, and serves more than 6.5 million customers with a network of more than 1,300 branches in the eastern United States The company is ranked at number 86 on the Forbes Global 2000 2010 listing. In October 2008, the company was named in the listings of Canada’s Top 100Employers in Maclean’s and Greater Toronto’s Top Employers by the Toronto Star. Furthermore, in February 2011, it was named one of Canada’s top 10 employers by the Financial Post. In this report, these are four category such as: Benefits, Safety & Flexibility, Leadership Development , Feedback of the TD bank , to inform TD bank’s initiatives/programs and policies that contributed to making TD bank one of the “ 2012 best workplaces in Canada”. Benefits
1. Compensation and Benefits
The objective of our compensation strategy is to attract, retain and motivate high-performing employees to produce long-term profitable growth. We work to ensure a consistent approach to compensation across TD that fosters a pay-for-performance culture. The majority of employees receive a base salary and an incentive compensation award. Typically, incentive compensation is based on a combination of financial and non-financial measures. For the majority of employees and executives, non-financial measures include Customer Experience Index and Customer WOW! Index results. Individual incentive compensation awards are also based on individual performance, again evaluated on both financial and non-financial measures.)(http://www.tdcanadatrust.com) The compensation for employees whose actions could have a significant impact on the risk exposure of TD that also the compensation tied employees to the bank’s share price to ensure that decisions are made in the best interests for the shareholders. 2. Retirement and Benefits
When designing benefit programs for TD employees, we aim to ensure employees have a minimum level of essential protection to act as a safety net in the event of death, disability or a serious illness. This philosophy also extends to our retirement programs, where a minimum level of Bank-paid benefit is provided, regardless of whether an employee contributes to a plan. In 2011, we introduced a Wellness Account. The online account allows employees to use TD-paid benefit credits to pay for fitness programs and equipment, health improvement programs and various types of counselling and preventive items for themselves and eligible family members.)(http://www.tdcanadatrust.com/) TD bank has range of retirement, benefits, savings and wellness programs that their employees can choice so that can help them to meet their need and the need for their families.
Health, Safety and Flexibility
In Canada, we have a National Policy H&S Committee, H&S representatives at each work location and H&S training for all managers and H&S representatives * best-practice ergonomic standards, which are applied to branch and building design and refurbishments * tools to support employees working away from a typical office environment; * a comprehensive H&S training program, including mandatory courses for all managers and H&S representatives; and * a dedicated intranet resource with information on a range of health issues and communicable diseases, such as malaria and tuberculosis http://www.tdcanadatrust.com) TD bank trying to keep staff healthy and safe wherever they are working. Their employees and managers play a valuable role in how to maintaining H&S record. Supporting Work/Life Flexibility
Part of maintaining the physical and mental well-being of our employees involves supporting personal decisions to help balance work with demands on their personal time. At TD, some of those options include: Unpaid Leave
* Up to eight weeks to care for a family member who is gravely ill Parental Leave
* Employees are entitled to up to 52 weeks of unpaid maternity/parental leave. TD provides a six-week income top-up, over and above the government childcare benefits for the mother, father, biological or adoptive parent. Gradual Return
* Gradual return-to-work programs are offered to employees returning from a leave. Volunteering
* Paid time off for volunteering in the community during regular working hours. Flex-Time
* Flex-time, part-time, job sharing and a compressed work week. TD bank provides a flexible work options to help managers and employees to choose when to accomplish.
TD think building talent is critical to their future growth and it is also a key accountability for TD to executives at all levels. Our key programs and tools include:
* Leadership Academy – An introductory program for new executives to orient them to their new leadership role in the context of our strategy, our values and the profile of an effective leader at TD. * Build for the Future (BFTF) – A program for executives that emphasizes the role of leaders in building talent for the future and deepens understanding about creating an inclusive environment. Our CEO makes it a priority to attend and spends time answering questions about TD’s business and people strategies. * BFTF Communities of Practice enables executives to further develop their leadership skills and sustain their learning beyond the BFTF four-day learning program. The program includes online participation, teleconferences and face-to-face meetings.
Executives share business-related lessons learned from across the bank and across North America. * The BFTF Pipeline Program – is modelled from BFTF to ensure that we have a strong talent pool of candidates among management-level employees for future executive leadership positions who understand our strategies, the role of leaders and our culture. The learning is sustained through an online Collaboration Centre for Leadership Excellence offering articles, blogs, and a calendar of events, themed webinar topics and e-newsletters. In 2011, the program was extended to the U.S. * Leadership Curriculum – In 2011 the Build for the Future Pipeline Program evolved into a curriculum to build leadership skills in both people managers and individual contributors. The three-day core program was augmented by programs on high-impact coaching, emotional intelligence for leadership excellence, and the art of collaboration.
We track employee engagement through TD Pulse, a company-wide internal survey conducted twice a year and open to every employee, including those on leave, in all countries of operation. The surveys are managed by an independent third party, with a participation rate of 86% of our global workforce. In addition to the list of survey questions, we ask employees to tell us “two things TD could do to make this a better place to work.” In 2011, the most common suggestions related to upgrading technology, career development opportunities, flexible work options and compensation. Through all of these surveys, common feedback, issues or trends are used to identify opportunities and guide future improvements to the employee experience. The program “Integration Pulse survey” is the way to help TD bank’s employer know more about their employee’s satisfaction. It is not purchasing a private fleet. In this report that is one employee of TD bank have some other Concern and what did the employee really think of TD bank.
* Pay: Td base pay and incentives are good compared to the top other 5 banks. In my opinion they rank second after National Bank. * benefits: amazing health benefits and pension: if you are under the old pension plan * Hours: not the best and it makes it harder for employees to balance work and personal life. However this is one of the items the institution chose to do build their future image on. Their “edge” if i may say over the others as they are the ones with the most opened hours. I must also add that i do not personally agree with the strategy as in my opinion they also became the Wal-Mart of the banks. * Management: I do have to agree with most of the comments on this matter. Management at TD is unfortunately not promoted because of the management skills they portray but only on who’s ass have they been kissing and if you dare have a backbone and state your opinions than unfortunately you kiss good bye to your growth within the company and if you sell a lot you can also say good bye to your growth as they will block you and keep you in a sales position. * Sales pressure: The same in all institutions. The objectives are purposely high how else can they record the gain that they records year over year. If you ask average you will get less than average. Conclusion
In summary, the report has showed the benefits, health, safety and flexibility, leadership development for TD bank. Is easy to see TD bank’s culture is to drive to deliver exceptional customer service and passion of the environment giving back to the communities, trying to create a unique, diverse, respectful and safe workplace for their employees. Those are the reason why they have one of the “2012 best workplaces in Canada”
http://www.ratemyemployer.ca/employer/employer.aspx?l=en&empID=3142 http://www.tdcanadatrust.com/easyweb5/crr-2011/workplace/compensation_benefits/index.jsp#/tab-content/0 http://www.tdcanadatrust.com/easyweb5/crr-2011/workplace/health_safety/index.jsp http://www.td.com/corporate-responsibility/crr-2009/our-approach/our-key-stakeholders/employee-feedback/index.jsp http://www.tdcanadatrust.com/easyweb5/crr-2011/about/governance/index.jsp