38 Talent acquisition
We aim to hire from the broadest possible talent pools. This allows us to represent the changing demographics in our markets and benefit from the innovation that comes from applying diverse experience and thinking to competitive challenges. Virtually all of our hiring is done within our significant areas of operation, and we strive to make our workforce reflect the communities we serve. We also recruit on a global basis as the market for top talent today is very competitive. TD supports a strong “promote from within” culture, with 70–80% of executive positions filled by internal candidates.
In the past year, our workforce population grew by 1,557 employees, which included 250 new jobs in Canada. In August 2012, TD made the decision to sell our U.S.-based business, TD Insurance Inc., to USI Insurance Services, which included 596 positions.
+ TD Careers
2012 Highlights • We launched TD Opportunities, a new online recruitment tool that is consistent for internal and external candidates and includes jobs throughout our North American operations. We post all jobs, up to and including the vice president level in Canada.
• We also initiated our 1,000th mentoring relationship with TRIEC’s Mentoring Partnership Program, which matches internationally educated professionals who are new to Canada with employees for occupation-specific mentoring relationships
• Our Diversity Recruitment Council brings together talent acquisition and diversity professionals across all our businesses, and our employee networks also provide insights, contacts and ideas. We work with external partners to build awareness of TD as a diverse and inclusive employer.
In 2013 we will offer a tool kit for managers on hiring persons with disabilities. This is the first in a planned series aimed at supporting more hiring from diverse communities.
Retention
We strive to create a welcoming and engaging work environment where employees can develop to their potential and want to stay.
• Turnover rates for Canada saw a marginal increase across all categories.
• We can attribute the higher voluntary turnover in the U.S. to a few factors: After a prolonged period of economic uncertainty the job market began to pick up in early 2012, which caused increased movement; and within our retail network, TD hires many seasonal employees, which is also reflected in our numbers.
1 Employee Turnover
Average turnover rate for TD Bank Group
Canada1
Voluntary2 Involuntary3 Retirement TOTAL
U.S.4
Voluntary2 Involuntary3 Retirement TOTAL
2012 19.26% 2
8.97% 3.78% 1.27%
14.02%
20.97% 9.00% 0.52%
31.43%
8.54% 3.26% 1.06%
12.86%
17.60% 8.40% 0.40%
26.42% Annual turnover by age and gender – Canada
The results show that turnover continues to be higher among our younger employees, which likely reflects the number of part-time employees who work in our branches while also pursuing post-secondary education. Our internal TD Pulse results in both the U.S. and Canada indicate that the level of engagement of employees is consistent across all age groups.
Canada Female 2010 2011 2012
Male
11.15% 11.79% 12.80%
13.59% 14.78% 16.12%
<30 Yr. 19.74% 19.72% 21.45%
30–50 Yr. 7.60% 9.23% 9.94%
>50 Yr. 9.53%
10.23% 12.21%
Total
11.98% 12.86% 14.02%
7.80% 3.13% 1.05%
11.98%
18.80%5 8.87%5 0.44%5
28.10%6 3 2011 2010
2010 Canadian data excludes TD General Insurance as this data is not available and cannot be reasonably estimated.
A voluntary exit from TD occurs when the employee chooses to leave TD.
An involuntary exit from TD occurs when employment is terminated.
4
2011 U.S. data excludes TD Auto Finance which was acquired in April 2011, as this data is not available and cannot be estimated. 2010 U.S. data excludes The South Financial Group as the data is not available and cannot be reasonably estimated.
5
2010 data has been restated due to system process changes that more accurately reflect the turnover categories.
Build an Extraordinary Workplace
The Mentoring Partnership
TD 2012 Corporate Responsibility Report
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