Customers Employee Turnover
TD’s global turnover for 2013 is 19.17%. We know U.S. turnover rates are an area of concern; reducing voluntary turnover is a priority for our U.S. business for 2014 and 2015. While U.S. turnover rates will always be higher than in Canada we recognize a pressing need to retain employees. Among several approaches, we continue to compare our compensation to the market- place and have made investments to increase pay levels. We are also working to provide more development opportunities in retail banking so that employees choose to build their careers at TD.
Annual Turnover by Age and Gender – Canada
The results show that turnover continues to be higher among our younger employ- ees, 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.
Workplace
Environment Transitions
We aim to minimize the impact on our employees of changes to our business or operational processes through communica- tion and natural attrition and by delaying hiring. In the case of job loss, we offer notice and severance packages that comply with or exceed regulatory requirements and industry best practices.
+ TD’s Approach to Job Loss
Communities
How We Operate Labour codes
TD adheres to, and in many cases exceeds, all applicable labour laws and standards in every country where we operate. We have developed our own policies, guidelines and procedures to protect human rights throughout our operations. Our Harassment, Discrimination and Violence in the Workplace Policy articulates our commitment to providing a work environment free from any form of harassment and unlawful discrimination.
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Performance Trends: Employee Turnover 2013
Average turnover rate for TD Bank Group Voluntary1 Involuntary2 Retirement TOTAL
Canada U.S.
Voluntary1 Involuntary2 Retirement TOTAL
1 A voluntary exit from TD occurs when the employee chooses to leave TD. 2 An involuntary exit from TD occurs when employment is terminated.
3 2011 U.S. data excludes TD Auto Finance, which was acquired in April 2011, because this data is not available and cannot be estimated.
19.17% 8.74% 3.60% 1.16%
13.50% 22.24% 8.75% 0.67%
31.71% 2012
19.26% 8.97% 3.78% 1.27%
14.02%
9.00% 0.52%
2011
8.60% 3.30% 1.10%
13.00%
20.97% 17.60%3 8.40%3 0.40%3
31.43% 26.42%3
Employee Turnover by Age and Gender (Canada only) Female
Male
2011 2012 2013
11.79% 12.80% 12.66%
14.78% 16.12% 14.91%
<30 Yr. 30–50 Yr. 19.72% 21.45% 20.75%
9.23% 9.94% 9.85%
>50 Yr. 10.23% 12.21% 11.23%
Total
13.00% 14.02% 13.50%
TD 2013 Corporate Responsibility Report
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