Performance and Development
- Performance and Development
Developing employees is essential to our growth as an extraordinary place to work. We hire and promote on individual merit and performance.
Performance and Development Culture
At the core of employee development at TD is our Personal Performance & Development process. We encourage employees to take ownership of their careers and personal development and help managers prepare for personal development and career planning discussions. All managers and employees participate in mid-year and year-end reviews.
Examples of the tools and programs designed to support employee development include:
- Learning maps;
- The Learning Management System;
- Accelerated Learning Pipeline programs for various in-demand roles;
- Tuition reimbursement programs; and
- Group and individual mentoring.
Career Development Support
To bring greater career and development support to a broader audience across TD, our offerings include:
- A simple, four-step career management process
- Videos and webinars about career planning and personal development
- An interactive online assessment to help employees find the right tools to meet their needs
- Advice from internal and external experts on careers and development
- Executive interviews and testimonials on their real-life career experiences
- Career Advisor – an interactive online career development tool that helps employees.
What We’re Working On
In 2011, virtually all TD employees will have access to TD’s online performance tool system, People Planning and Performance (P3), resulting in a more consistent and better experience for all our employees. P3 eliminates the need for paper-based performance assessments and personal development plans, and allows employees and managers to collaboratively review and update all aspects of their performance and development online in real time.
- We launched P3 (People Planning and Performance), a one-stop online tool to integrate performance and development planning with other career management processes.
- Our U.S. employees now have access to many of the same performance management tools as all other employees in TD. They will have access to online objective setting in 2011.
- This is the first full year when annual performance assessments have been completed online, and to date approximately 78% of Canadian employees have received either a mid-year review and/or a year-end review online.
- To date, approximately 33% of Canadian employees have an online Personal Development Plan in place. We expect to see this number increase in the coming year.
TD invested more than $74 million in learning and development in the past year. In addition to the courses available through TD’s Learning Management System, the figures below also include external courses, certificates and accreditations.
TD’s Global Investment in Training and Development 1234 2010 2009 2009 TD’s investment in training (in millions of dollars) 73.9 56.2 55.6 TD’s investment in training per employee (in dollars) 1,047 1,215 $621 Average number of days of training per employee 5.81 3.90 3.88 Amount employees received through TD’s Tuition
Assistance for external learning (in millions of dollars)
13.6 8.46 11.7
1 2010 excludes The South Financial Group as the data is not available and cannot be estimated.
2 2009 and 2008 exclude data from TD Bank as the data is not available and cannot be estimated.
3 An average day is considered 7 hours for U.S. employees and 7.5 for all other employees.
4 Training data by employee category is not available and cannot be estimated.