Toronto-Dominion Bank, Canada’s largest lender by assets, is giving all full- and part-time employees $500 bonuses as a reward for their efforts during the pandemic.
Many in the industry were adding counseling services to benefits packages even before the coronavirus outbreak spurred demand for assistance with mental well-being.
The bank is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter.
The Best Banks to Work For package is a collaboration between American Banker and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies.
Leaders at the 85 institutions that made the eighth annual ranking have found ways to navigate crises (there have been plenty this year) while also bolstering employee morale.
While some institutions have held off on staffing up for new projects, many mission-critical positions at the executive level are still being filled. It may take until well into 2021 before normal patterns return.
