Bank says program saved $1.4 million in productivity in Toronto, wants to expand program across the country
The CIBC is expanding its backup child care program to 14 cities across Canada following the success of its initial service launched in Toronto more than two years ago.
Since it launched its facility in Toronto in 2002, the CIBC Children’s Centre has saved more than 6,800 employee days representing nearly $1.4 million in productivity savings when employees used the centre to look after their children on short notice.
“Our employees in Toronto have told us that this service gives them peace of mind when their usual child care arrangements are suddenly unavailable due to illness or other unexpected events,” said Joyce Phillips, CIBC executive vice-president human resources. “I am delighted that we are now going to be able to expand the program from coast to coast.”
Full- and part-time employees with children aged three months to 12 years can use the child care centres up to a total of 20 days per year. CIBC pays all the costs for the program.
“CIBC is a leader in helping employees balance the demands of work and family,” said Phillips. “We’re demonstrating our commitment to be an employer of choice. It’s one more way CIBC focuses on what matters to our employees.”
CIBC’s partner in the expanded program is Kids & Company, a firm that operates permanent and backup child care centres in Toronto. Within the next few months, CIBC employees will be able to use three existing Kids & Company centres in the Toronto area (Scarborough, North York and Markham.)
Later this year the program will be expanded to include:
•Calgary;
•Ottawa;
•Vancouver;
•Ajax, Ont.;
•Mississauga, Ont; and
•Waterloo, Ont.
In 2006 the bank plans to include:
•Halifax;
•Montreal;
•London, Ont.;
•Winnipeg; and
•Edmonton.
Since it launched its facility in Toronto in 2002, the CIBC Children’s Centre has saved more than 6,800 employee days representing nearly $1.4 million in productivity savings when employees used the centre to look after their children on short notice.
“Our employees in Toronto have told us that this service gives them peace of mind when their usual child care arrangements are suddenly unavailable due to illness or other unexpected events,” said Joyce Phillips, CIBC executive vice-president human resources. “I am delighted that we are now going to be able to expand the program from coast to coast.”
Full- and part-time employees with children aged three months to 12 years can use the child care centres up to a total of 20 days per year. CIBC pays all the costs for the program.
“CIBC is a leader in helping employees balance the demands of work and family,” said Phillips. “We’re demonstrating our commitment to be an employer of choice. It’s one more way CIBC focuses on what matters to our employees.”
CIBC’s partner in the expanded program is Kids & Company, a firm that operates permanent and backup child care centres in Toronto. Within the next few months, CIBC employees will be able to use three existing Kids & Company centres in the Toronto area (Scarborough, North York and Markham.)
Later this year the program will be expanded to include:
•Calgary;
•Ottawa;
•Vancouver;
•Ajax, Ont.;
•Mississauga, Ont; and
•Waterloo, Ont.
In 2006 the bank plans to include:
•Halifax;
•Montreal;
•London, Ont.;
•Winnipeg; and
•Edmonton.
