how td bank group embedded diversity and inclusion...
TRANSCRIPT
Candace Atamanik,
Research Manager, Talent Management Research,
Bersin by Deloitte
Deloitte Consulting LLP
How TD Bank Group Embedded Diversity
and Inclusion Practices to Create a Long-
Term Strategy for Success
Copyright © 2015 Deloitte Development LLC. All rights reserved. 2
• Overview of Current State of D&I
• The TD Bank D&I Story
• Q & A
Agenda
Additional Resources:
• TD Bank Case Study: Banking on an Open Workplace
• Diversity and Inclusion in Canada: The Current State
Copyright © 2015 Deloitte Development LLC. All rights reserved. 3
Largely
homogeneous
with limited
diversity
Compliance Numbers-
based
organization
focused on
affirmative
action goals
Has and
appreciates
employees
who
represent
both
traditional
and invisible
diversity
Understands
value of
diverse
workforce;
begun to
engage
diverse
employees in
talent and
business
initiatives
the diverse
backgrounds
of individuals
to drive value
and business
results;
employees
feel involved,
respected,
valued and
connected
6%
14%
36%
33%
Singular
Embracing
Collaborative
11%
Inclusive Leverages
Source: “The Diversity & Inclusion Benchmarking Report,” Bersin by Deloitte / Stacia Sherman Garr, March 2014.
3
The Current State of Diversity and Inclusion
Our Speakers Today
Ron Puccini Senior Manager
Diversity and Inclusion,
TD Bank Group
Sherri Gray Senior Manager
Diversity and Inclusion,
TD Bank Group
5
How we are building The Better Bank
Diversity and Inclusion at TD November 3, 2015
TD Bank Group
6
At a glance
• Year Founded: 1955
• Headquarters: Toronto, Canada
• Employees: 85,000+
• Assets (in Canadian Dollars):
$945 billion in assets as of October 31, 2014
• Stock Symbol: NYSE/TSX:TD
2002 – 2015 Evolving Landscape
9
• Competition • Political landscape
• Distinct regulatory and compliance requirements
• Vast, diverse continent – evolving demographics
Growth and change
Diversity & Inclusion Journey
10
The Timeline
2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Awareness Engagement Embedding Foundation
Formal Governance
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Authentic top down leadership
CEO Bharat Masrani
Diversity Leadership Council Chair: Riaz Ahmed
Led by Senior Executives
Talent & Diversity & Inclusion Office
Corporate HR
Diversity Leadership Council Committees
Headed by Senior Executives
Diversity Leadership Council - established in 2006 to help drive our Diversity Agenda forward. This council comprises of Sr. Executives who meet every 6 times per year to monitor our progress against goals and tactics.
Authentic leadership from the top – Bharat Masrani and the Senior Executive Team often speak to the importance of, and are recognized internally and externally for, their leadership on diversity.
There are over 300 executives dedicated to our diversity & inclusion commitment.
Embedding Diversity & Inclusion
12
All aspects, all levels of the business
DLT
Subcommittees
13 Regional & Back-Office Diversity Councils
Metro Pennsylvania /
New Jersey
Northern New England
and Upstate New York
Metro Carolinas
U.S. Technology Solution
Metro Southern
New England
Mid-South Metro
Corporate and
Specialty Banking
Metro New York
Direct Channels
TD Auto Finance
(Michigan and Texas)
Metro Florida
Bank Operations
Diversity Council Working Groups
(Maximum Five per Diversity Council)
Diversity Council working group lead works directly with subcommittee liaison.
Working Group “Volunteer Pool” = ERG
ERGs (Ideal = One per region / line of business, with one area of focus)
Women in Leadership
People with Disabilities
Visible Minority Leadership
Serving Diverse Communities
LGBTA
Executive leaders determine overarching goals and tactics for five areas of focus.
Subcommittees execute DLT tactics for specific areas of focus to drive enterprise wide changes or activity (e.g., large-scale sponsorships, benefits changes, policy reviews, national award submissions).
In partnership with subcommittee liaison, regional and back-office diversity councils implement subcommittee plans and set goals at a local level.
Each regional diversity council creates working groups to address the 5 areas of focus, with a sub committee liaison for support.
Work in specific areas of focus along with regional / back-office diversity council lead and subcommittee liaison.
US Diversity Council Structure:
Diversity & Inclusion Framework
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Consistency in approach
Levers
Objectives
The Workforce: Attract, hire, develop and retain the best diverse workforce reflective of the communities we serve
Recruitment and hiring processes
Development
Mentoring
Sponsorship
Resource planning
Accommodation
Leadership accountability
Our People
EE representation/flows
Applicant tracking
Performance and Development Planning (P3)
Resource Planning tracking
Our Culture
The Workplace: Build and maintain a Unique and Inclusive Employee Culture
Visible leadership/development, communication, events
Community investments
Competency in leading/managing a diverse workforce – Having the right conversations
Pulse
Focus groups
360 feedback
Performance objectives and outcomes
The Marketplace: Build the TD brand and capture business opportunity among key diverse segments
Understanding the consumer via cultural insights
Brand and local area business (LOB) Marketing
Community sponsorship
Business development
Enhance the customer experience
Our Customers & Brand
Bank of Choice
Market insights and research
Appropriate Customer Experience measures
Customer/business metrics
Awards
Measures
What we've learned
14
• Power of the business case – D&I is NOT an HR initiative
• Authentic leadership and strong governance are key
• Embed D&I in everything you do
• Metrics – pick the right measures and understand when and how to use them
• Be prepared to make some difficult choices and to hold people accountable – actions must demonstrate values
• Leverage technology, social media
• It takes time – relationships, partnerships, trust
Copyright © 2015 Deloitte Development LLC. All rights reserved. - 16 -
Q & A /
Discussion
Candace Atamanik, Research Manager, TM Research, Bersin by Deloitte Deloitte Consulting LLP [email protected]
Ron Puccini Senior Manager, Diversity and Inclusion, TD Bank Group
Sherri Gray, Senior Manager, Diversity and Inclusion, TD Bank Group
Questions & Additional Discussion