Recognition Professionals International
2008 Best Practices Nomination
Submitted by
55 King Street West Toronto M5K 1A2 Canada RPI Best Practice 2008
Nomination Form Deadline for Entries: December 1, 2007 Page 2
Part A: General Information
Name of organization: TD Canada Trust
Dept/Division/Section (if applicable): NA
Address: 55 King St. W.,
City/State/Zip: Toronto, Ontario M5K 1A2
1) Number of employees: 22,000
2) The organization is: ___ non-profit ___ government __ X _ for-profit
3) Industry: Financial Services
4) If we choose to study your organization, whom should we contact for more information?
Name: Karey Stanley
Position: Senior Manager, Reward & Recognition
Address (if different than above): 120 Adelaide St. W., 6 th Floor
City/State/Zip: Toronto, Ontario M5H 1T1
Phone Number: (416) 982-5550
RPI occasionally transmits information regarding the Best Practice program via electronic communications (Email). I authorize the Recognition Professionals International (RPI) to send association Email communications to my Email Address: [email protected] RPI occasionally transmits information to its members via FAX communications. I authorize the Recognition Professionals International (RPI) to send association FAX communications to my Fax number: (416) 308-9040 Who referred you to RPI? Steve Richardson How did you hear about RPI? Local conference
Nominated by: Name: Karey Stanley
Organization: TD Canada Trust Address: 120 Adelaide St. W.,
City/State/Zip: Toronto, Ontario M5H 1T1
Email: [email protected] Phone: (416) 308-9002 Part B: Program Information
Please complete each of the specific recognition program elements covered by the seven Best Practice Standards:
Standard 1. Recognition Strategy.
Standard 2. Management Responsibility.
Standard 3. Recognition Program Measurement.
Standard 4. Communication Plan.
Standard 5. Recognition Training.
Standard 6. Recognition Events and Celebrations.
Standard 7. Program Change and Flexibility.
All nominations are judged first on Standards 1 and 2, which are the basic elements of a successful recognition program, and then on Standards 3 through 7, which treat specific program elements in more detail.
Please respond to each item in the spaces provided below. If necessary, you may create additional space below the item as needed.
Nomination Deadline: Completed Nomination Forms with application fee must be postmarked by December 1, 2007:
RPI Best Practice Committee 1801 Mill Street, Suite R Naperville, IL 60563 [email protected]
If you have any questions about the Best Practice Program or the nomination process, please contact RPI Headquarters at 630-369-7783 or [email protected]. TD Canada Trust – Post merger bank launches recognition program to solidify its new shared culture, sales and service priorities
INTRODUCTION Headquartered in Toronto, Canada, with offices around the world, TD Bank Financial Group (TDBFG) offers a full range of financial services through various businesses such as TD Canada Trust, TD Waterhouse and TD Ameritrade.
TD Canada Trust (TDCT) is the personal and commercial banking business line of TDBFG, offering products and services to more than 10 million customers across Canada, including savings, lending, investing and advisory services.
TDCT is the result of a merger between Toronto Dominion Bank and Canada Trust in 2000. This merger, which was the largest ever of its kind in the Canadian financial services sector, created the second largest Canadian bank by assets with top market share in many product categories.
While impressive in size, the colossal $8 billion merger was not without its detractors. Among the critics, the investment community speculated on whether the combination of two financial institutions with distinct and contrasting corporate cultures could effectively mesh together, achieve the promised synergies and refocus on customer sales and service objectives to preserve and build the customer base and profitably grow the business.
Putting added pressure on the merged entity, the new TDCT executive team pledged that the new bank would distinguish its brand from its competitors by offering the highest level of customer service in Canada. This focus on the customer would be matched by an organizational commitment to both employees and shareholders. This was no small promise for an organization facing the usual post-merger staffing, administration and systems challenges as they combined some 22,000 retail employees and 1,100 branches.
Under the leadership of the TDCT senior management team, the organization designed and implemented a recognition program which has directly supported these objectives, achieving record levels of employee satisfaction, industry-leading customer service rankings and top-tier financial performance. In 2007 alone, we earned considerable third-party acknowledgement, As a top employer:
In October, Canada’s national current affairs magazine, Maclean's Magazine, selected TD as one of the top 100 employers in Canada.
The Toronto Star, one of Canada’s largest circulation newspapers, named TDBFG as one of the Greater Toronto Area's top employers in their October 13th issue.
Canada’s national business daily, The Financial Post, featured TDBFG as one of Canada's top 10 employers - the only financial institution on this year's top 10 listing - in their October 17th issue.
TDBFG was named one of the Best Workplaces in Canada by Canadian Business Magazine in April 2007, and was the only major Canadian financial institution to do so.
Page 4 of 50 For outstanding customer service:
TDCT ranked No. 1 in service among the top five Canadian banks for the third consecutive year in the annual Synovate survey. TDCT was also ranked #1 in seven other Financial Service Excellence Award categories: “Overall Quality of Customer Service,” “Would Recommend to Family and Friends,” “Branch Access and Convenience,” “Information Handling and Communications.”
J.D. Power and Associates, Canadian Retail Banking Customer Satisfaction Study 2007, ranked TDCT the highest in customer satisfaction among Canadian banks for the second year in a row.
TDCT was also named "Best Consumer Internet Bank in Canada" by Global Finance magazine, winning four award categories in September 2007.
And for best-in-class shareholder performance:
As at October 31, 2007, TDBFG enjoyed its 20th consecutive quarter of double- digit earnings.
STANDARD 1: RECOGNITION STRATEGY 1. Describe the organization’s recognition strategy. Include the specific recognition strategy statement and describe how the recognition strategy links to the overall organizational vision, mission, and values.
Aligned with the TD Canada Trust merger, the entire organization adopted a vision of ‘Being the Better Bank’ in the eyes of customers, employees, shareholders and community stakeholders. Specific to the retail banking division, TDCT focused on delivering a superior level of customer service, promoted and marketed as ‘TD Canada Trust’s Comfortable Banking Experience’. Measures to gauge success in achieving customer satisfaction were developed, in addition to targets for sales and revenue growth for key product and service lines.
Among the leadership priorities established for TDCT employees: nurture a caring, performance- based culture where each employee feels valued and recognized. In addition, TDCT established a goal of being recognized as a ‘great place to work’ in which employees are engaged, supported and encouraged to learn, succeed and receive outstanding reward and recognition for their individual and shared achievements. In line with extensive tracking of customer satisfaction levels, employee satisfaction would be a key management priority with performance indicators established to monitor and target workforce improvements.
Page 5 of 50 TD Bank Financial Group Vision, Strategy and Priorities
TDBFG Vision To be the Better Bank Where we compete, we will be the best run, integrated, customer focused financial institution TDCT Strategy Be known for a superior customer experience Be recognized as a great place to work Generate supergrowth in underrepresented businesses Sustain a healthy gap between revenue and expense growth Deliver top tier performance through consistent double digit earnings growth TDCT Personal Bank 2007 Priorities
Customer Employee Financial Business Community Customer FosterEmployee a caring Financial OperationsBusiness Community Widen the gap performanceFoster a caring Operations Widen the gap performanceculture Drive solutions Simplify our Get involved culture Drivefaster solutions businessSimplify our Get involved faster business
To support the new corporate vision, strategy and priorities, the TDCT executive team realized the importance of creating a reward and recognition program that was tailored to the new TDCT retail network, consisting of eight regions, 62 districts, 1,100 branches and 22,000 employees.
They understood that an effective recognition strategy would be crucial in creating a single, united team among their retail bank employees, reinforcing the merged organization’s values and priorities, and driving sales and service behaviors to help the bank achieve business results.
In developing a new recognition strategy, TDCT leadership faced several significant challenges: They needed to carefully and respectfully wind-down the existing recognition programs offered by the former banking rivals; develop a program that better reflected the new organization’s culture and business priorities and ensure that both employee populations perceived the changes as an improvement or, at least, not a reduction in value. Finally, they needed to minimize the change and disruption for bank employees who were already fully occupied in supporting integration activities and adapting to new priorities, policies and procedures.
To satisfy these considerations, TDCT senior management spent the following 12 months wrapping-up the existing reward programs while beginning to chart the new recognition strategy.
To inspire the recognition program design team in 2003, newly-appointed TD Canada Trust Executive Vice President Tim Hockey shared his vision for, “A new program built on the foundation of the predecessor programs, which creates an exclusive club-like membership feel, but with greater accessibility and participation among all employees, and based on business- driven metrics.”
The development team conducted employee surveys and focus groups, gathered best practices from industry experts and completed a gap analysis to determine the existing programs’ strengths and weaknesses.
Page 6 of 50 With this analysis completed, the team established the following tenets, dictating that the new program must be:
Simple – both for employees to participate and for administrators to execute efficiently; Vertically-aligned – touching and connecting all employee levels with business strategy using key metrics; Focused on key business drivers – including managers who drive sales and service results; Fully supported by executive team – with active management participation.
Summarizing TDCT’s recognition strategy: “To support the corporate vision of “Being the Better Bank” by delivering a meaningful reward and recognition program that is simple, vertically aligned and continuously evolving, that focuses on key drivers of sales and service results and makes TD a great place to work”.
Looking back at the creation of the reward program that he today oversees, TDCT Executive Vice President Brian Haier observes that, “The Champions program – which has continued to evolve since it was launched in November ’04 - truly reflects our corporate vision and has helped us deliver a high-quality employee experience that, in turn, produces a superior customer experience. By offering a meaningful program to all of our employees, we are building a caring performance culture, everywhere, and making reward and recognition a way of life at TDCT. Champions Club, which is carefully aligned with creating shareholder value, motivates our employees to constantly do better. That’s what our caring performance culture is all about.”
TDCT REWARD & RECOGNITION PROGRAM COMPONENTS Based on TDCT’s freshly-crafted reward and recognition strategy outlined above, a seven-tier reward and recognition program has been developed for TDCT employee participation. The seven programs are visually depicted below in hierarchical order.
Page 7 of 50 1) Recognition in a Box/ e.Cards
To support year-round ongoing recognition behaviors, TDCT people managers, including Branch Managers and executives, receive a Recognition in a Box kit each year with twice yearly updates. This kit includes all the tips, tools and tactics required by managers to reinforce TDCT’s recognition culture. A recently launched e.Cards program supports regular peer-to-peer recognition by allowing any employee to go online and choose from a selection of electronic thank-you or special moment recognition cards to acknowledge a peer for a job well-done, or for demonstrating a positive attitude or behaviour that the nominator feels has supported TDCT’s success or helped the branch or team achieve their goals.
2) Champions Quarterly Team Cash Rewards
Focused on team successes, this program rewards branches for achieving any two of three key metrics based on the teams’ annual business plans. Cash is awarded to the team and is used to celebrate successes each quarter. Branch Managers are free to utilize the cash rewards to recognize their team in any manner, typically a team dinner, movie night or party. This program potentially recognizes 100% of the branch employees
3) Champions Momentum Rewards
This program rewards sales and service results achieved during the five annual product campaigns by offering each Branch Manager online points for merchandise to kick-off product campaigns. Points are awarded at the Branch Manager’s discretion throughout the campaign to maintain excitement and enthusiasm for product campaigns. This program can recognize up to 30% of the branch employees.
4) Champions End of Campaign Rewards
To cap each of the five annual product campaigns, the top 17 employees from each District receive 15,000 reward points valued at $150. The point recipients are selected as follows: top 10 full-time employees, top part-time employee, top 5 campaign co-ordinators, top Branch Manager. This program recognizes about 25% of the branch employees.
5) Customer Experience Champions
This year-round program is focused on making TDCT the leader in offering an outstanding customer experience. The program lets all employees earn quarterly online points for submitting “Moment of Truth” stories that illustrate real-life examples of how they delivered exceptional customer service or made a lasting impact on a customer. Reward points can be redeemed for merchandise through an online catalogue. This program reinforces the critical importance of our service efforts and establishing personal connections with our customers.
6) Champions Club
National: The most prestigious reward and recognition program offered to mid and senior-level TDCT management, this is an annual award for the top 25% of Branch Managers based on composite branch key metrics ranking. Approximately 300 recipients earn a 4-day all- expense-paid business conference at an exotic location and a one-year membership to the “club”.
Page 8 of 50 Regional: The most prestigious reward and recognition offered to sales and service employees and junior management, this is an annual award for the top 6% of branch employees (excluding Branch Managers) based on the key metrics for team and individual ranking. Approximately 1,200 recipients earn a 3-day all-expense-paid business conference at an exotic location and a one-year membership.
Vision in Action (corporate program)
Aligned with the Champions Program, this corporate program is open to all TDBFG employees and recognizes the best of the best. In TDCT, only members of the Champions Club are eligible to receive this award based on their consistent demonstration of all six of the TDBFG Guiding Principles.
This program recognizes 21 TDCT retail employees each year who are nominated by their District Vice Presidents and selected by the Regional Senior Vice Presidents.
2. Provide examples of how the organization provides a three-dimensional approach to recognition through the following:
Day-to-day recognition: To complement the formal Champions programs, TDCT people managers, including Branch Managers and executives, receive a Recognition in a Box kit (see Exhibit 1) each year to help instill regular recognition activities year-round. Updated twice yearly, the kit includes all the tips, tools and tactics required by managers to reinforce TDCT’s recognition culture within their local branch or office. Most importantly, instructions emphasize making recognition simple and fun, so that it becomes an easy, enjoyable and natural aspect of each manager’s role. This kit – equipped with a noisemaker that applauds upon opening - includes:
An introductory letter from the Executive Vice President, emphasizing the importance of recognition.
“How do you like to be recognized?” forms which Branch Managers distribute among their staff so they can determine their employees’ preferred recognition method. By gathering this information, managers can understand what type of recognition motivates each employee, allowing them to customize future activities. (See Exhibit 2)
“Make their Day” Recognition binder which houses all the reward and recognition updates sent out over the course of the year. The binder also helps managers organize their own recognition activities and staff information.
Blank “Champion in the Making” certificates that Branch Managers can give to their employees as a way of saying “Thank you and keep up the good work” for activities that they performed well. (See Exhibit 3)
A supply of “Champions” thank you cards for the Branch Manager to recognize their employees for noteworthy achievements throughout the year.
Access to an online repository of recognition e.Cards to facilitate the peer-to- peer recognition process (See Exhibit 4)
“Priceless Motivation” book by Debra Sikanis.
Page 9 of 50 Noisemakers and other celebratory tools which help the Branch Manager make recognition fun and interactive.
In addition, managers are constantly encouraged by their District Vice Presidents to utilize all the tips and tools in the box on a regular basis and to apply their own creativity to plan innovative and relevant local celebrations.
Informal recognition: Since TDCT understands that spontaneous, on-the-spot acknowledgement of employee achievements is an important part of building a recognition culture, many of the items included in the Recognition in a Box kit help managers perform random acts of appreciation to team- members with minimal planning. For example:
All managers received a “Recognition Toolkit” which included an instructive video that shows them the negative and positive behaviours of employees and how to recognize and emphasize those positive behaviours.
Managers receive a supply of “I Like What you Did” post-it notes to use as a quick thank-you to recognize day-to-day employee contributions (see Exhibit 5).
Managers receive a copy of “The 24-Carrot Manager” book by Adrian Gostick and Chester Elton, which highlights great ideas and simple things that a Branch Manager can do to enhance the recognition culture at the branches.
Note: See Standard #5 Training, page 24, for more information on programs to encourage informal on-site recognition behaviors.
Formal recognition: Formal recognition at TDCT is encompassed through the Champions Club, Champions Rewards and Vision in Action programs summarized in Standard 1, #1, page 5.
For TDCT managers and employees, earning membership in the Champions Club program serves as the highest level of formal recognition within the retail bank division. New Champions Club members are announced at the end of the fiscal year and are invited to attend a high profile business conference at an exotic location (for example, last year’s national conference was at the Ritz Carlton in Jamaica; Regional conference locations included South Beach Florida, Las Vegas and Caribbean cruises).
During these conferences, members enjoy the opportunity to celebrate and network with the entire TDCT senior management group. Participants are treated as VIPs at the conference to highlight the prestige and importance of earning Champions Club membership.
In addition, to highlight their club membership year-round, members receive a gold Champions pin, business cards branded with the gold Champions Cup emblem (See Exhibit 6) as well as gifts such as customized leather portfolios, gift certificates, etc periodically through out the year.
Following the conference, the Champion Club members regularly receive letters and gifts such as customized leather portfolios from the Executive Vice President and the Senior Vice Presidents to motivate them to earn the membership the following year.
Page 10 of 50 3. Provide examples of documented procedures for the following:
a) Process for identifying and recognizing day-to-day positive behaviours
Each year TDCT distributes a Recognition in a Box kit and the Recognition Toolkit, (described above in Standard 1, #2, page 9) to all Branch Managers to provide them with tools to recognize positive day-to-day behaviours year-round on an informal, ongoing basis.
Formalized programs for recognizing behaviours that contribute to overall team, District, Region and TDCT objectives include the Customer Experience Champions, Champions Momentum Awards and e.Card initiatives:
The Customer Experience Champions program rewards merchandise points on a quarterly basis to district and regional level winners who submit their “Moment of Truth” stories which describe examples of how they provided such outstanding customer service that a customer told friends, family or colleagues about the experience. These stories are submitted online by the employee and are reviewed by a regional judging panel of region/district executives based on specific criteria that the company has determined to be pillars of delivering excellent customer service. Award winners can be employees in direct customer-facing roles or individuals who impact the customer experience through their indirect support.
Champions Campaign Momentum Rewards are designed to help employees maintain their focus during product campaigns by recognizing their achievements to date towards campaign targets. Branch Managers are granted the discretion to award ‘Momentum points’ towards reward merchandise to sales and service employees or team leaders who show behaviours that support campaign success.
The recently launched e.Cards program allows any employee to go online and choose from a selection of electronic thank-you or special moment recognition cards to acknowledge a peer for a job well-done, or for demonstrating a positive attitude or behaviour that the nominator feels has supported TDCT’s success or helped the branch or team achieve their goals. The recipient and his/her manager then receive an e-mail notification that they can access their e.Card online via the TDCT intranet. This program is supported by quarterly random draws by which three card senders and three recipients in each district receive 2,500 reward points.
b & c) Nomination, selection criteria, notification, tracking procedures and award selection
Vision in Action This annual award of distinction recognizes the best of the best employees across TDBFG (the parent company of TDCT) and is open to any TDCT employee who has earned Champions Club membership in that year. TDCT employees are nominated by their District Vice Presidents and selected by a Senior Operating Committee based on meeting the following criteria:
Employees have to consistently demonstrate all six Guiding Principles : i. Be Customer Driven ii. Respect Each Other iii. Execute with Excellence iv. Know our Business
Page 11 of 50 v. Enhance our Brand vi. Increase Shareholder Value
Employees have to have a rating of “Quality High” or better in their annual performance review
Each February, Vision in Action recipients are formally announced and recognized in front of their peers at a local event by their Senior Vice President. During this team celebration, a congratulatory video from the TDBFG President & CEO is screened and the award recipient receives a gift, cake and refreshments.
Later that month, the President & CEO formally announces the 55 Vision in Action recipients throughout the company, including the 21 winners from TDCT. The announcement is emailed to all TDBFG employees and posted on the TDBFG Employee Recognition website. These recipients and a guest are then invited to attend the TDBFG Annual Meeting (each year held in a different Canadian city) where they are formally recognized by the President & CEO at the shareholders meeting and during numerous VIP celebrations and activities held in their honour. Award recipients also receive $1000 spending money and $500 to donate to a charity of their choice, in line with TDBFG’s focus on community giving.
Champions Club (National and Regional) Champions Club membership has to be earned annually and is based on the rankings achieved by employees for key sales and service metrics, which are aligned with the overall TDBFG financial goals. Through these rankings, the top quartile of Branch Managers is selected for Champions Club National membership and the top 6%* of branch employees (excluding the Branch Manager) are selected for the Champions Club Regional membership.
Note: this allocation is being increased to 8% in 2008 and 10% in 2009.
New Champions Club members are notified after the fiscal year-end (October 31) based on their annual ranking. The recipients are announced during regional ‘road shows’ in November where TDCT executives present the retail bank’s strategy, sales and service and campaign goals for the upcoming season. Award recipients are presented with gold lapel pins in front of their peers, by the President, the Executive Vice President and the Senior Vice President. They are formally invited to attend the National or Regional conference (based on their position) which takes place in January.
Once Champions Club targets have been established for the new year, they are uploaded to the intranet where employees can review their annual goals. Results are tracked and reported based on employees’ daily, weekly and monthly service targets. An employee’s final ranking is calculated based on a weighted average of key metrics and is tracked monthly. These daily, weekly and monthly rankings are all posted on the intranet so that each employee can regularly check their rank. Based on this rank, the top quartile Branch Managers and the top 6% of branch employees (excluding the Branch Managers) are selected to be Champion Club members for one year. (For a sample of the reports, please see Exhibit 7.)
4. Describe the overall recognition program objectives and how they align with the recognition strategy.
TDCT’s recognition program goals align directly with the organization’s overall recognition strategy because they were developed together to address the post-merger employee recognition needs of the new bank. First, the recognition program was designed to support TDCT’s Employee
Page 12 of 50 Objective of “fostering a caring, performance-based culture in which each employee feels valued.” Through the Champions program, all TDCT employees clearly understand their performance objectives and can receive tangible, meaningful rewards based on their individual or team contributions.
Secondly, the program directly supports TDCT’s Financial Objective by targeting specific sales volume growth for key product categories. To do so, program rewards are linked to key employee and branch metrics which align with the annual financial and business goals of the organization. Employee ranking in the Champions program is based on a weighted average of all the products and services offered by the bank with weightings established to emphasize particular product and service focus areas. Based on the weightings assigned to each product or service, employees concentrate their efforts on selling the right product mix to maximize their reward program rankings.
Thirdly, since TDCT established its brand based on delivering outstanding customer service, the Champions program supports the bank’s Customer Priority of “Delivering a powerful and distinctive customer experience.” The Champions program helps ensure that employees pay equal attention to satisfying the needs of the customer and providing excellent service. The Champions metrics include a service weight to ensure that the customers are being looked after and are receiving exceptional customer service.
All of these key metrics for the national and regional Champions Club are reviewed annually to ensure that the goals assigned to the employees are in line with the financial and business objectives of the company.
5. Describe how the organization builds continuous improvement into its recognition programs.
Although the TDCT recognition program was recently launched in fiscal 2005, it has evolved and incorporated process changes to fine-tune program elements as a result of senior management, employee and manager input, focus group feedback and regular program reviews by the national recognition team. These changes have helped ensure that the program continues to meet original strategy objectives, program Guiding Principles and shifting business priorities.
As described in Standard 3: Program Measurement, page 18, program changes are inspired by data gathered through program evaluation, including TDCT employee satisfaction surveys, recognition program surveys, program participant comments and other formal and informal feedback mechanisms.
Before implementing any process changes, TDCT’s national recognition team makes it a priority to ensure that any proposed program revisions maintain the integrity of the Champions brand in the eyes of employees. Similarly, in light of the fact that TDCT employees have been subjected to considerable change in their sales, service and support roles resulting from the TDCT merger and integration process, a concerted effort has been made to keep the program largely consistent over the past three years, with only “tweaks” to existing elements to improve their effectiveness.
STANDARD 2: MANAGEMENT RESPONSIBILITY 1. Describe senior management’s role in defining and documenting the organization’s recognition strategy and policies.
The TDCT recognition strategy was directly initiated by the retail bank’s most senior executive, Tim Hockey, Executive Vice President, in 2003. The program has continued to enjoy strong
Page 13 of 50 senior executive involvement in the design, implementation and evolution of program components over the past five years. Not only did Mr. Hockey communicate his broad vision for the new program to guide the recognition development team, but Mr. Hockey and all TDCT executives, including the Senior Regional Vice Presidents, were consulted frequently throughout the design process and provided final approval for all program elements.
Today, senior management continues to play a regular, active role in program direction and planning including current Executive Vice President, Brian Haier, who instills a strong emotional and financial commitment in the program both personally and among his management team by participating in regular R&R update meetings and providing strategic direction as well as acting as the “owner” of the Champions program. As evidenced by his role in the various videos (DVD included in nomination submission) which have been created to create excitement and build momentum around these programs, Mr. Haier is supportive and passionate about Champions and is willing to do whatever it takes to get the attention of the TDCT employees.
2. Describe how senior management has identified and allocated adequate resources to manage and maintain the recognition program. Describe these general roles and responsibilities.
TDCT’s Reward and Recognition department is responsible for all aspects of the National Reward and Recognition programs and the team consists of these permanent positions: Senior Manager, Reward & Recognition, who is responsible for the overall program strategy and vendor relations
Manager, Reward & Recognition Communications, who is responsible for the day-to-day Champions Club management and communications program, as well as the R&R training/culture
Manager, Reward & Recognition Programs, who is responsible for the Customer Experience Champions program, Campaign Rewards and Quarterly Team Cash rewards
With the support of TDCT senior management, members of the Reward and Recognition department have been encouraged to attain their RPI Certified Recognition Professional designation. To date, the Senior Manager has completed 3 of 4 courses and each manager has completed 2 of 4 courses. This symbolizes the commitment of TDCT senior management to ensuring our recognition team has the expertise to deliver a best-in-class recognition program.
To incorporate regional and local input into the planning process and to coordinate day-to-day program execution, a group of 6 – 8 Regional Senior Managers meet weekly with the R&R team from February to May to review each element of the current year’s program and recommend any changes. As detailed in Standard 2, #1 page 13, all changes to the program are scrutinized and approved by the executive team including the Executive Vice President and the Regional Senior Vice Presidents.
To illustrate senior management’s active support for the program, the leadership group has directly approved the growth of the national reward and recognition budget from $7 million to $10 million over the past three years, symbolizing their strong commitment to recognition at TDCT.
Page 14 of 50 3. Give examples of how recognition is part of management reviews and agendas. Describe how senior management holds managers responsible for constructively participating in recognition.
TDCT senior management understands the importance of instilling a recognition culture across all management tiers. As such senior managers routinely discuss, plan and evaluate local recognition efforts with their people managers, including both formal and informal recognition activities such as campaign, sales & service, length-of-service and other individual and team achievements within their departments.
In addition, for the 2007 fiscal year, the senior executive team formally revised the TDCT people manager Performance Management Program by adding employee recognition criteria to all manager accountabilities and objectives (A’s & O’s). This action will effectively formalize the recognition process even further and ensure that every manager is consistently accountable for recognizing their employees. (Please see Exhibit 8 for a sample of the Branch Manager A’s & O’s).
For details on management reviews of the TDCT recognition strategy and programs, see Standard 2, #5 page 17.
4. Describe how senior management supports the recognition program, communicates their support to all employees and is personally involved in the program.
In addition to the senior executive team involvement in year-round planning described above, the leadership team clearly demonstrates its hands-on support for the Champions Club program by communicating the annual program launch, actively encouraging employees to attain, or retain, Champions Club membership and, finally, by participating in recipient celebrations, before, during and after the annual conference. In fact, through frequent direct communications with membership candidates and current members, the TDCT Executive Vice President serves as a “virtual one-on-one coach” to high performing and high potential managers.
Pre-conference The Executive Vice President (EVP) performs extensive direct communications with Champions Club candidates at least monthly leading up to the program finale in October when new Champions Club members are announced: At the beginning of the fiscal year in November/December, the EVP emails the top 50% of Branch Managers to inform them that they are in the running for Champions Club membership.
In January, top 50% receive a destination-specific themed trinket (for example, a logo’d fleece scarf for Whistler). The top Branch Manager in each region and top District Vice President nationally each receives a phone call from the EVP. The top employees in each role in each region receive a phone call from their respective Senior Vice President.
In February and March, top 40% receive congratulatory email from EVP;
In April, top 40% receive a congratulatory voice mail message from EVP; In addition, a mid-year momentum package, including a video message from the EVP, is sent to all District Vice Presidents to screen for staff at their semi-annual Managers meetings;
In May, top 40% receive another destination-specific trinket and note of encouragement from the EVP, with the top District Vice President nationally and top Branch
Page 15 of 50 Manager in each region receiving a phone call from the EVP. Top employees in each role in each region receive a phone call from their respective Senior Vice President.
In June and July, top 40% receive a congratulatory email from EVP;
In August, top 40% received a destination-themed trinket (such as a destination coffee table book) with the top District Vice President nationally and top Branch Manager in each region receiving a phone call from the EVP. Top employees in each role in each region receive a phone call from their respective Senior Vice President.
In September, top 30% receive a congratulatory email from the EVP;
In October, the year end announcement of Champions Club winners is made at annual road show event. On this occasion, the TDCT business head executives and EVP go on a cross-country road show to each TDCT region to present the strategic priorities for the upcoming year to the Branch Managers and District Vice Presidents. At each of these road shows, the respective Regions Champions Club members are announced. During the high energy presentation, each winner is called to the stage, congratulated by the executives and presented with their Champions Club pin.
To support the equivalent Regional Champions Club programs, the respective Regional Senior Vice Presidents send emails, program updates and encouragement messages to all regional employees to promote the program and the planned exotic destination.
At the conference During the annual conference, TDCT senior management have a prominent presence to symbolize their program support. The National Champions enjoy the opportunity to network and mingle with 30 of the top executives of the company during morning business sessions, afternoon optional activities and evening gatherings and cocktail receptions. A similar theme is repeated at the Regional level with the members being hosted by the Regional executive teams. (Please see Exhibit 9 for a sample of the Champions Club – Atlantis conference itinerary.) Each year, event feedback from Champions Club participants indicates strongly that the access and networking opportunities they were given to TDCT executives was the absolute highlight of the event, even surpassing their satisfaction with the exotic destination and peer recognition.
As shown in Standard 3, #1, page 18, evaluation forms gathered at the 2007 event from 170 participants indicated that: 97% rated the final evening/event finale as excellent;
83% rated the executive presentations excellent;
98% rated the Executive Vice President closing remarks and involvement as excellent;
After the conference Throughout the year following the national conference, TDCT’s Executive Vice President sends periodic emails to continue to motivate Club members to strive for membership again the next year. The timetable is as follows:
One month after the conference A “Happy Snaps” DVD is sent to the recipients with conference photos (DVD included in nomination submission).
Page 16 of 50 Executive Vice President writes to congratulate them on earning club membership. Members receive a survey to give feedback for conference improvements. They receive a team photo and letter from their regional Senior Vice President.
Three months after the conference, members receive: A letter from the Executive Vice President. A Waterford pen with the Champions Club logo.
Six months after the conference, members receive: A letter from the Executive Vice President. $50 gift certificate from Chapters, a well known Canadian bookstore chain.
Nine months after the conference they receive: A letter from the Executive Vice President informing them that their membership is ending and wishing them luck for the upcoming year.
Note: A similar process is followed for the Regional Champions where the letters sent by the Senior Vice Presidents of the regions.
TDCT senior management is also highly involved in selecting retail bank employees for participation in the corporate Vision in Action Program. In each region, a senior operating committee of seven to fifteen executives (depending on region size) chooses 2-3 Vision in Action winners from their regional pool of Champions Club recipients. The committee assesses candidates based on their contributions to TDBFG’s corporate Guiding Principles while ensuring a balance of management and non-management representation.
5. Describe how senior management periodically reviews the recognition programs to determine effectiveness.
Each year, TDCT senior management plays a regular role in reviewing program direction, results and effectiveness. Current TDCT Executive Vice President Brian Haier is the formal program owner of the Champions programs and he personally provides high-level strategic direction to the recognition team. Aligned with the annual program planning process, which begins in February and culminates with the annual launch in November, the R&R team and 6 – 8 Senior Regional Managers Sales and Service attend monthly planning meetings to review the existing R&R program and recommend changes and enhancements.
To ensure the regional executive teams are fully consulted in the recognition program process, annual plans are presented to and ratified by the eight Regional Senior Vice Presidents each May. This leadership group reviews and formally approves all program elements, changes to program rewards, processes and procedures, participation levels and program budgets.
Page 17 of 50 STANDARD 3: RECOGNITION PROGRAM MEASUREMENT
1 Describe how your recognition program results are linked to recognition strategy and program objectives and then measured for effectiveness. The measures should be statistically valid and substantive in nature. (Examples could be nominations per communications dollar, level of participating in programs, productivity increase per recognition dollar and employee feedback through surveys or otherwise.) Be sure to include at least one year of data.
Since the TDCT recognition strategy is designed to elevate employee satisfaction and drive sales and service results, we measure our recognition programs by these criteria using a variety of methodologies.
To measure program success in terms of TDCT’s financial and customer objectives, TDCT recognition programs are linked directly to specific annually-established sales and service metrics, including campaign targets. Demonstrating the programs’ ability to support TD’s shareholder and financial objectives, on October 31, 2007, TDCT parent company TDBFG marked its 20th consecutive quarter of double-digit earnings.
To evaluate program effectiveness in raising overall employee satisfaction, we leverage the organization’s company-wide internal survey, TD Pulse, which is conducted twice a year to gather anonymous and candid feedback on the TD work environment. Since this survey enjoys approximately 85% participation rate among the bank’s workforce, it is deemed to be an ideal vehicle to evaluate employee attitudes on reward and recognition themes. See Standard 3, #3, page 22 for details on TD Pulse results.
To gauge the specific program’s success in achieving TDCT’s recognition strategy, several measurement tactics were established as described below with highlights of results achieved:
Champions Program survey: In spring 2007, we launched a Champions program-specific survey to evaluate employee satisfaction with the TDCT Recognition strategy, specific program components and to gauge employees’ overall perspective on our corporate goal of “Making TD a great place to work.” Replacing a previous annual reward and recognition survey which reached a smaller employee sample group, the new 2007 survey selected 750 TDCT employees across the country to participate in the online 19-question survey, representing a cross-section of high, mid and low-performers. (See Exhibit 10 for questionnaire.)
1) Highlighted results included: 79.7% of employees were extremely/very likely to recommend TD as a great place to work based upon their experience as an employee. Among TDCT branch management, 88.2% of Branch Managers and 78.5% of Managers, Financial Service, indicated that they strongly agree/agree with the statement “I am happy with the recognition that I receive at TDCT.” At the other end the branch staff hierarchy, 75% of Sales & Service Associates agreed or strongly agreed. 94.4% of employees indicated that they are “always/sometimes” recognized by their manager when they do a great job (50.9% indicated “always”); 61.3% of employees agreed/strongly agreed that, in the last seven days they had received recognition or praise for the good work they have done. 82.1% of employees indicated they were extremely, very or somewhat likely to recommend the Champions Program to a new employee or colleague.
Page 18 of 50 2) Champions Club participant evaluation forms: Each year we distribute event evaluation forms to participants in our national and regional Champions Club programs and review comments for significant trends and areas for improvement. Highlights of the 2007 National Champions Club event evaluations among 170 respondents included: 97% rated the final evening/event finale as excellent; 83% rated the executive presentations excellent; 98% rated the Executive Vice President closing remarks and involvement as excellent;
3) Semi-annual Champions program focus groups: We regularly host focus groups with 100 employees, including Branch Managers and frontline staff to gain insights into program rules, regulations and campaign rewards. Highlights from our April 2006 focus groups of 78 employees (which were actioned in 2007) included: Positive feedback for electronic/online prize/merchandise system and enthusiastic response to improved prize choice and selection.
4) Third Party Recognition: We also pay serious attention to all third-party recognition earned by TDCT as a key indicator of our progress towards our vision of “Being the Better Bank”, particularly external awards or accolades that highlight the superior customer experience we offer and our efforts to become known as a “Great Place to Work.” In 2007 alone, we earned considerable third-party acknowledgement: 2007 recognition as a top employer: In October, Canada’s national current affairs magazine, Maclean's Magazine, selected TD as one of the top 100 employers in Canada. The Toronto Star, one of Canada’s largest circulation newspapers, named TDBFG as one of the Greater Toronto Area's top employers in their October 13th issue. Canada’s national business daily, The Financial Post, featured TDBFG as one of Canada's top 10 employers - the only financial institution on this year's top 10 listing - in their October 17th issue. TDBFG was named one of the Best Workplaces in Canada by Canadian Business Magazine in April 2007, and was the only major Canadian financial institution to do so. 2007 customer service awards: TDCT ranked No. 1 in service among the top five Canadian banks for the third consecutive year in the annual Synovate survey. TDCT was also ranked #1 in seven other Financial Service Excellence Award categories: “Overall Quality of Customer Service,” “Would Recommend to Family and Friends,” “Branch Access and Convenience,” “Information Handling and Communications.” J.D. Power and Associates, Canadian Retail Banking Customer Satisfaction Study 2007, ranked TDCT the highest in customer satisfaction among Canadian banks for the second year in a row. TDCT was also named "Best Consumer Internet Bank in Canada" by Global Finance magazine, winning four award categories in September 2007.
Page 19 of 50 5) Reward & Recognition ROI measurement: As the relatively young TDCT recognition strategy continues to evolve with organizational needs, one of the gaps that we have identified in our program evaluation process is the absence of an Reward & Recognition Return on Investment (R&R ROI) key indicator. As a result, in the spring of 2007, we developed a base formula for measuring R&R ROI, using employee and customer key metrics. These metrics include: Customer Experience Index score (Likelihood to recommend based on our Voice of the Customer survey process) Units per Day sold TD Pulse Employee Satisfaction Survey score for the question “I am appropriately rewarded and recognized” Champions survey results, with the ultimate question “I am likely to recommend TD Canada Trust as a great place to work” The ROI review will be completed on an annual basis and will provide information on the trending of key results and the correlation to the corporate R&R investment.
2. Describe how the organization documents employee and manager participation in recognition programs and include at least one year of participation data.
Since Champions programs are directly linked to employee achievement of specific sales and service metrics and targets, participation is documented through central program results tracking reports. Employee engagement in the programs is further illustrated by the volumes of points requests, rewards redemptions and visits to the TDCT Champions Rewards intranet site.
The summary below shows employee participation levels for the past three years and going forward:
Program name 2005 2006 2007 2008 participation participation participation participation
Vision in Action 20 20 21 21 *Number of TDCT participants Champions Club National 235 278 296 311 Champions Club Regional 684 695 1162 1562 (includes all regions) * % age of 100 100 100 100 Champions employees eligible End of * Number of 4860 5010 6120 6528 Campaign merchandise Rewards points granted/redee med * % age of 100 100 100 100 Champions employees participating Momentum * Number of 33,285 34,285 35,505 36,000 Rewards merchandise points granted/
Page 20 of 50 Program name 2005 2006 2007 2008 participation participation participation participation
redeemed Champions Quarterly 3068 2122 1813 TBD Team Cash Rewards * Number of branches recognized Customer * Number of 2445 5308 17,598 22,000 (target) Experience ‘Moments of Truth’ Champions nomination stories submitted * Number of 79 86 264 936 (target) award recipients Hits to Champions NA NA 14,539 TBD Rewards intranet site (during month of September) Spring 2007 Champions NA NA 75.9% NA Survey: %age of employees who have visited Champions Rewards intranet site % of employees self- NA NA 17,341 TBD registered to Champions online merchandise points
For new programs active for one year or less:
Program name Measurement timeframe
Service MVP Program 274 in 278 in 465 in 625 in * Number of recipients 2005 2006 2007 2008 E.Card Recognition program 8000 in 4000 in 4081 in TBD in * Number of peer-to-peer e.Cards sent August, Sept. ‘07 Oct. ‘07 Nov ‘07 ’07)
Local branch tracking: Local tracking of employee participation in the program is a critical component so as to enable managers to encourage and coach their team-members to strive for Champions Club membership or Champions End of Campaign rewards. As a result, every branch has a scorecard that tracks results for each employee, consisting of key metrics which are aligned to the financial objectives of the bank for the year. Detailed drill down reports can be generated right down to the individual employee level. These reports are accessible by all managers so that they can track their progression during the year. It also helps management to track progress for each Branch, District or Region. Apart from the ranks, the reports also drill down on the products or services being sold to further aid manager/employee sales coaching. (Please see Exhibit 7 report samples)
Page 21 of 50 3. Describe employee and manager satisfaction ratings with the organization’s recognition programs. Explain how employee satisfaction was measured. Include at least one year of data and/or a summary report.
In addition to the evaluation methods described above to measure TDCT’s specific reward and recognition programs, TDCT relies on its respected, bank-wide employee survey process TD Pulse to obtain a twice-yearly overall assessment of many critical workplace issues, including reward and recognition.
Through collaboration with TD Human Resources, our TD Pulse survey administrators and external vendor, we have determined that TDCT’s reward and recognition programs have a key direct role in survey question #11 and the overall Employee Experience Index.
TD Pulse Survey Results* Key reward and recognition Spring Fall Spring Fall Spring Fall topics included in survey: 2005 2005 2006 2006 2007 2007
Question #11: “I work in an 3.79 3.81 3.87 3.85 3.86 3.89 environment where performance is recognized and rewarded appropriately.” 4.16 4.2 4.21 4.23 4.23 4.24 Employee Experience Index**
* Results for the TDCT retail bank population; Survey respondents indicate whether they “Strongly agree, agree, neither agree nor disagree, disagree or strongly disagree” with each of the 21 statements included in the survey;
** The Employee Experience Index measures overall employee satisfaction by providing an weighted average of the final 3 questions: My work gives me a feeling of accomplishment. I plan to be with TD one year from now. I am proud to say I work for TD.
STANDARD 4: COMMUNICATION PLAN 1. Describe the organization’s overall strategic recognition communication plan, its goals and programs. Include specific information about branding, methods, frequency and content of communications.
An effective annual communication strategy has been a key factor in the success of TDCT’s recognition program for the past three years. Each year the national recognition team develops a communication plan designed to increase interest, momentum and enthusiasm for the various program elements.
The communication plan focuses on two primary objectives: 1) To communicate program details to employees so they understand how to participate and they are aware of the potential rewards. 2) To publicize employee award recipients and showcase the behaviours and achievements that helped them win recognition. Key principles incorporated into each year’s communications plan:
Consistently communicate a recognizable and prestigious brand (Ie. The Champions Club) to build awareness and interest among employees;
Page 22 of 50 Deliver a disciplined and regular communication program with clear and easy-to- follow communication materials for managers and employees;
Instill a sense of excitement, fun and team camaraderie in the look, feel and tone of all communication pieces;
Build year-round awareness and understanding of the program and create program momentum by distributing frequent communications, via various channels, in advance of, during, and at conclusion of major recognition events and campaigns;
Position TDCT executives as the primary spokespersons to create a sense of management ownership and involvement in the program;
Utilize a mix of communication vehicles to effectively reach and engage the diverse employee audience (team meetings & huddles, emails and management circulars, newsletters, intranet website and interactive resources).
2. Describe any tools or media used to communicate the recognition program (examples include internet and intranet, presentation or trainings, bulletin boards, posters, video, CD, e-mail, literature, telephony, etc).
The main communication program elements/tools utilized include the following:
The annual Recognition in a Box communication package to encourage and support year-round, locally-based recognition activities: As described above in Standard 1, #2, page 9, this communication serves as the foundation of TDCT’s recognition culture and provides a manager with all the tools and resources to create an informal, easy-to-execute recognition program within a local branch or office.
Champions Club Launch kit (see Exhibit 11) to promote the program for the new year: Each December, the Champions Program is relaunched and all Branch Managers receive a launch kit including items such as: . A meeting planner; . Video message from the Executive Vice President (DVD included in nomination submission); . Program description materials, brochures and newsletters . Tracking charts and awareness posters to be displayed in branch staff areas;
Champions Club momentum-building communications (see Exhibit 12) to facilitate year-round interest and involvement, including the Reward & Recognition intranet site. As described above in Standard 2, #4, page 15, extensive communications tactics are applied to encourage employees to strive to win membership in the Champions Club. Targeted emails, notes and trinket gifts are sent and recorded executive voicemail messages are regularly issued from TDCT executives to inspire top-ranked managers and branch teams. Seasonal newsletters and executive messages are distributed to branches while special promotional video messages are screened at semi-annual regional managers meetings to build the excitement. Video is also utilized at mid-year with a themed inspiration message from the Executive Vice President (DVD included in
Page 23 of 50 nomination submission) and dramatic video presentation during the road show winner announcements to promote the following year’s destination. A Reward and Recognition intranet site is accessible to all employees and it provides full details on the Champions Club and other annual reward promotions. Clearly marked links allow individual employees to locate their individual campaign reports and track their progress on a daily, weekly or monthly basis. (Please see Exhibit 13 for screen samples of website.)
Champions Club member communications (see Exhibit 14) to build pride among recipients, year-round. As described above in Standard 1, #2, page 9 above, new members are announced annually at regional road shows in November, kicking off a full year of member-directed communications issued by the TDCT executive or regional management team. To continue the excitement after returning from the national conference, members receive three seasonal letters from the Executive Vice President as well as a premium gift in the spring, gift certificate in the summer and end-of-year communications wishing them luck in earning the subsequent year’s membership.
Champions Campaign Momentum Rewards communications: To support each of the five annual product and service campaigns, a launch kit is sent to every Branch Manager at the beginning of each product campaign. Each kit includes a meeting planner and campaign tracking and awareness posters. In addition, each manager receives an allocation of points to recognize sales and service employees for results during the campaign period. Additional resources available to the manager are provided on the Reward and Recognition intranet site, such as weekly reports to help provide updates to and motivate staff. At the conclusion of each campaign all campaign winners’ names are published on the intranet site and Branch Managers are encouraged to make group presentations of campaign rewards once they are delivered to the branches.
STANDARD 5: RECOGNITION TRAINING 1. Describe the organization’s overall recognition training strategy for managers and employees and its role in the organization’s recognition strategy. Describe how the organization has committed resources to the training. Include examples of training curriculum literature, materials, videos, etc.
Recognition training is provided to TDCT managers both as a part of the annual recognition program roll-out (Recognition in a Box and Recognition Toolkit) and is also integrated into various people manager role-specific learning programs throughout the year.
. As part of the annual distribution of the TDCT reward and recognition program, including the Recognition in a Box and Recognition Toolkit, described in Standard 1, #2, page 9, all Branch Managers receive extensive resources to hone their recognition skills with their teams. Each year, the Recognition Toolkit includes special additional components to build on managers’ existing skills or help new managers adjust to their supervisory roles. For example, the 2005 Toolkit included a special 20-minute instruction video to help managers prepare for and perform effective and inspiring recognition presentations for staff members. This video is currently being adapted to a video-streaming format so that it is readily accessible via the TDCT Reward & Recognition intranet site.
Page 24 of 50 Managers are also encouraged to adapt the instructions and suggestions provided in the kits to practice new recognition tactics in their location. For example, managers receive a copy of The 1001 Rewards & Recognition Field Book, by Bob Nelson and Dean R. Spitzer, accompanied by a letter from the Executive Vice President, encouraging its use. As part of the communication in fiscal 2005, each branch was given a small budget of $150 to “test” some of the ideas in the book and branch managers are asked to share their success stories on the TDCT Reward & Recognition intranet site, so that branches can exchange best practices and learn practical, creative new ways to build the reward and recognition culture within their branch. . Over the course of the year, TDCT managers are exposed to recognition components in the following training programs: District training teams provide periodic refresher and skills upgrade presentations on staff management and team-building, including recognition techniques. Standard corporate training courses include effective recognition segments including the “Important Conversations” and “Coaching for High Performance” which are delivered to all new branch managers to prepare them for their supervisor roles. Employees can access online training via the Service Recognition intranet site which provides managers with support in recognizing long-term employees who have completed significant career milestones with the bank. In addition, the TDCT Learning & Development department is creating plans to include additional recognition-focused content within their employee and management courses and online tutorials.
2. Give examples of how the recognition training has met its objectives, how it has been effective and the results achieved.
While manager feedback and informal evaluation of the various recognition training programs indicates that these training initiatives have been effective, the best indication of their success lies in the evidence that a solid recognition culture has been established across TDCT. For example: . In the spring 2007 Champions program employee survey, 94.4% of employees indicated that they are “always/sometimes” recognized by their manager when they do a great job (50.9% indicated “always”); 61.3% of employees agreed/strongly agreed that, in the last seven days they had received recognition or praise for the good work they have done. . The spring 2007 Champions survey also demonstrated that program details were being relayed clearly to employees as show by the fact that: 74.4% of employees learned about the Champions program from their manager; 77.4% of employees agreed/strongly agreed that they understand how the Champions Reward program works and how they earn points. 75.5% agreed/strongly agreed that they understand what they have to do to win Champions Club. 75.7% understand how their branch can earn Champions Quarterly Team Cash. . Front-line employees have embraced the recognition culture as shown by the incredible levels of participation in the new peer-to-peer e.Card recognition program. In fact, more than 8,000 cards were distributed in the first month of the program in August, 2007.
Page 25 of 50 . In the spring 2007 Champions program survey, 79.7% of respondents indicated that “based on their experience as an employee they were extremely or very likely to recommend TD as a great place to work.”
STANDARD 6: RECOGNITION EVENTS AND CELEBRATIONS 1. Describe the process for celebration, event planning and/or award ceremonies to recognize employees.
Local Celebrations Branches and districts arrange local celebrations based on quarterly results. When 2 of 3 key business plan objectives are achieved, team are provided with cash for funding celebrations. This can include movie night, beer and wings night, or any type of celebration the team deems appropriate. Individuals are recognized throughout the year based on results at quarterly or semi-annual events, including luncheons and overnight getaways. Finally employees are recognized at events for their contribution to product-specific sales and service results.
Champions Club Regional Celebrations: Each of the eight TDCT regions hosts an annual conference to recognize their Champions Club recipients, usually encompassing a 3-4 day, all expense paid trip for the regional winners. Regional executives, including the Regional Senior Vice Presidents and District Vice Presidents participate fully in the events and present the awards to the members. Members enjoy a full roster of fun activities each day with evening cocktail sessions to create additional opportunities to meet and mingle with the executives. (See Exhibit 15 for examples of regional conferences.)
Champions Club - National The 250 – 300 Champions Club recipients celebrate their membership at the all-expense-paid annual conference, held each January at a different exotic location. In 2006, the conference took place in Atlantis resort on Paradise Island in the Bahamas. In 2007, the conference was held at the Ritz Carlton in Jamaica.
The conference includes a mix of business components, such as the speeches by the senior management team, as well as optional fun activities, such as deep sea fishing, catamaran snorkeling or dolphin encounters offered during the 2006 Bahamas conference. In the evenings, various receptions and cocktail parties provide the Champions Club members the chance to network with their peers and senior executive team members. (Please see Exhibit 9 for the itinerary for Champions Club – Atlantis).
At the conclusion of the conference, the Champions are given a “Happy Snaps” DVD of conference highlights as a keepsake. The DVD contains the award ceremony and other shots of employees during the conference. Please see the sample video for a photo montage of Happy snaps from the Jamaica Champions Club Conference (DVD included in nomination submission).
Vision in Action As described above in Standard 1, #3 b), page 11, TDCT Champions Club recipients may also be chosen to participate in the corporate Vision in Action Award which annually invites 55 top performers from across TDBFG to attend the company’s Annual General Meeting, attend celebration events with TDBFG executives and enjoy the weekend in the host city. Recipients also receive $1,000 in spending money and a $500 donation to a charity of their choice.
Page 26 of 50 2. Describe how the organization has assigned responsibility for event planning and implementation?
While the national reward & recognition department oversees the day-to-day planning and execution of the National Champions Club events and celebrations, ownership and responsibility for the events is held by the TDCT Executive Vice President, Brain Haier. This individual is the official host for all celebrations and takes part in regular planning meetings to set priorities and authorize all decisions. Similar senior management ownership occurs for the Regional Champions Club events, which are executed by regional managers of sales & service but are officially hosted by the Regional Senior Vice President who also participates actively in all event planning duties.
3. Describe how the events demonstrate creativity, management involvement, and include any event documentation – including photos, newsletter stories, etc.
Creativity is incorporated in the Champions Club through elaborate theme-setting in communications materials, including motivational coaching letters, videos and trinket mementos sent to membership candidates throughout the year (See Standard 2, #4, page 15). Each year, these themes are based on the reward destination chosen for the following year with tone, language, visuals and accents selected that complement the destination’s culture and activities. For example, to highlight Jamaica as the 2007 Champions Club destination, both business and optional recreational events at the conference focused on a Jamaican music theme. High calibre international musicians and a celebrity DJ were hired to participate at events and music-related challenges and competitions were staged for club members. Similarly, the 2008 event in Whistler will encompass a Winter Olympics theme with well-known Canadian sports broadcasters and Olympic athletes invited to speak at and host various Champions club events. For details on management involvement in event activities, see Standard 2, #4, page 15.
STANDARD 7: PROGRAM CHANGE AND FLEXIBILITY 1. Describe the regular process to review and evaluate recognition program elements and change them as needed to promote the organization’s goals and values.
As outlined above in Standard 3, #1, page 18, TDCT follows numerous evaluation disciplines to assess program effectiveness. They then review these data to plan and implement required program enhancements. These changes are discussed, planned and executed by the Reward & Recognition department. Each year, from February through May, a committee composed of members of the Reward & Recognition department and representatives from each TDCT region meet weekly to scrutinize each element of the recognition program, including rules and regulations, and recommend changes. These proposed changes are all reviewed and ratified by senior management, as outlined in Standard 2, #5, page 17.
2. Describe how the organization has adjusted recognition to meet the diverse needs of individuals and teams. Please describe the process, any significant changes that have been made, the reasons for the changes, and how the changes have affected the programs.
Among key program changes implemented: Revamped employee reward choices: As a result of employee feedback through our evaluation processes and a review of industry best practices, in 2007 we revamped the reward options to give employees the freedom and flexibility to select their individual prizes
Page 27 of 50 earned from an online merchandise catalogue. Now, employees earn points through the Champions End of Campaign and Momentum Rewards programs and they can redeem these points for merchandise through an internet merchandise catalogue with hundreds of items to choose from. This online catalogue replaces the former procedure through which standard reward merchandise was selected by head office and provided to Branch Managers to allocate among their team members. This change has greatly raised employee enthusiasm for the program and increased their perception of prize quality and flexibility. Additionally, employees can opt to redeem their points immediately or “bank them”, saving up for larger reward merchandise. Improved peer-to-peer recognition: Recognizing the need to bolster peer-to-peer recognition, fostering greater team camaraderie and empowering employees to become directly involved in workplace recognition, we launched an e.Cards program in August 2007. Through this program, managers and employees can instantly recognize staff or co-workers for a job well done or for making a positive contribution to the company, branch or team. Recognized employees receive a personalized electronic card with a copy sent to their manager so they are aware of their employees’ impact on others around them. This program has been tremendously successful since it launched with over 8,000 e.cards exchanged in the first month alone. (Please see Exhibit 4) Enhanced recognition for non-sales achievements: Although the TDCT recognition strategy was intentionally-designed to reflect the organization’s performance culture and inspire employees to achieve quantifiable sales, service and campaign targets, we realized the need to properly recognize the contributions of employees who did not have the benefit of individual metrics, specifically service employees and regional support staff. To do so, the Service MVP program was introduced in early 2007 by which employees can nominate colleagues for their support roles through a branch and regional office ballot box system. Each quarter a Service MVP is chosen in each region by members of the regional executive team who are given discretion to select relevant and meaningful prizes for winners. (See Exhibit 16) Increased employee participation rates: Towards the goal of greater individual employee participation in TDCT’s rewards program, senior management has regularly increased program budgets to permit higher rewards participation by the employee population. As a result, Regional Champions Club participation increased from 4% of FTE to 6% FTE in 2007, equaling an additional 360 employees. A similar planned increase in 2008 will raise participation rates to 8% of FTE, equaling another 360 additional employee participants. We have targeted 10% FTE for 2009. Strengthen day-to-day recognition of service accomplishments: To create greater momentum around daily employee efforts to provide excellent customer service, we have finalized plans to enhance our Customer Experience Champions program in 2008. This program, launched in originally in January, 2007, was designed to distribute rewards points to employees on a quarterly basis. However, based on regional and branch management feedback, we will begin rewarding points on a monthly basis to help maintain day-to-day visibility for this program and to help keep up the customer service momentum in our branches.
Page 28 of 50 EXHIBIT 1 – RECOGNITION IN A BOX
Page 29 of 50 EXHIBIT 2 – “HOW DO YOU LIKE TO BE RECOGNIZED?” FORM
Page 30 of 50 Page 31 of 50 EXHIBIT 3 – “CHAMPION IN THE MAKING” CERTIFICATE
Page 32 of 50 EXHIBIT 4 – E.CARD SAMPLES
Page 33 of 50 EXHIBIT 5 – “I LIKE WHAT YOU DID” POST-IT NOTES
Page 34 of 50 EXHIBIT 6 – CHAMPIONS CLUB PIN/CHAMPIONS CLUB BUSINESS CARD SAMPLE
Page 35 of 50 EXHIBIT 7 – CHAMPIONS CLUB REPORTS
This report ranks the Regions nationally. The yellow signifies Regions in the top quartile. The rank for the entire year and the month-over-month improvement is also reported. From this report, readers can further drill down to see how individual Districts or Branches are performing. The names of the Regions, Districts and Vice Presidents have been removed for confidentiality.
Top quartile rankings among Names of the district regions Vice Presidents and their regions are displayed here Month over month trend is displayed here Na mes of the regi ons Year to Date are performance disp laye d her e
Page 36 of 50 This report ranks sales employees. The rank and each metric is reported so that management and employees can see how their overall rank was determined and how they did in the individual key metrics. Their overall rank is based on the service and sales components.
Key metrics are aligned to the overall business goals
Overall rank is based on 30% of branch composite rank and 70% of individual rank. Individual scores are based on the ranks of the key metrics. Branch composite score is largely Raw scores based on the for each service score metric on Customer Service Index
Page 37 of 50 This report ranks service employees by Branch.
Report can be generated by District, Region or Branch
Details of the district, branch number, Customer branch name and branch manager are Service displayed here Index rank
Overall ranking in Customer the Region Service Index based on raw score are service displayed only here
Branch composite rank indicates the total of sales and service
Page 38 of 50 EXHIBIT 8 – BRANCH MANAGERS’ ACCOUNTABILITIES & OBJECTIVES
Accountability to the Customer & Community
Customer Service – 25% Lead, coach and model quality service delivery at every customer interaction Lead and contribute to the ongoing improvement of the customer experience Coach to ensure customer problems are handled appropriately, and participate in the negotiation and resolution where necessary Actively promote TD Canada Trust’s image within the community through participation and leadership in community business groups, initiatives, fundraisers, etc.
Accountability to the Team
Develop and Manage the Team / Teamwork – 25% Lead and apply the performance management process, supporting employees in their personal and performance development by utilizing learning maps and external courses, as appropriate Develop and manage the branch team by recruiting, training, coaching and recognizing employees Create and foster a cohesive team, and promote a positive work environment Demonstrate TDBFG management practices Lead and follow up on action plans to improve the employee experience
Accountability to the Shareholder
Business Results – 40% Achieve branch business objectives for sales, revenue, volume growth and profitability by negotiating and executing branch business plan Plan and execute business development activities, review and communicate results, and adjust plan accordingly Coach employees to deliver on the business sales and service strategy Identify and develop relationships with existing customers (personal and small business) and external referral sources to generate demand for Bank products/services
Internal Practices & Processes – 10% Follow and ensure employees are knowledgeable of and comply with Bank and industry codes of conduct and with securities laws and regulations Follow and ensure employees understand and apply bank/branch operating policies and procedures Ensure necessary due diligence is taken to support the accuracy of all customer transactions
Page 39 of 50 EXHIBIT 9 – CHAMPIONS CLUB – ATLANTIS CONFERENCE ITINERARY
Wednesday Thursday Friday Saturday Sunday January 18 January 19 January 20 January 21 January 22 Breakfast 6:30-8:00 am 6:30-8:00 am 6:30-8:00 am Private Group Breakfast Private Group Breakfast Private Group Breakfast – – Waters Edge – Crown Ballroom A Crown Ballroom A Morning 9:00 a.m. General Session Room 8:30 – 10:00 am 8:30 – 10:15 am Checkout and departures Activities General Session Room set-up continues – Coral Business Session – Coral “Breakfast in Bahamas” for home cities Set up – rear screen Ballroom A&B Ballroom A&B Business Session Royal projection , rounds of 8 - Executive Presentation / Deck Coach transfers to the Coral Ballroom A&B Main Group departs Panel (Mike Carbonne) Brian Haier airport home cities for . Ed Clark, Tim (Coral Ballroom A&B Workrooms and storage destination city Hockey, Bernie backup) for TD Canada Trust and Dorval, Brian Haier, Wynford Lisa DB 10:15 – 10:30 am Atlantis, Clieto, Hercules. . Junkanoo Coffee Break – Royal Question Development Deck (Coral Ballroom Foyer - 10:00 – 10:30 am backup) Coffee Break – Coral Ballroom Foyer 10:30 – 11:30 am Business Session cont’d. 10:30 – 11:00 am Keynote Speaker – Rick Business Session cont’d. Grandinetti Q&A Panel - open to floor with Mike Lunch In-flight where 11:30 am – 12:30 pm 11:30 am – 12:30 pm applicable Boxed and Group Lunch Boxed and Group Lunch – Coral Foyer – Coral Foyer Afternoon Early afternoon arrivals. 1:00 pm 12:30 pm Activities Coach transfers to Transfer to activity sites Transfer to activity sites Atlantis Resort 1:30 – 5:00 pm 1:00 – 5:00 pm Arrival at the Atlantis Extra-curricular Extra-curricular Resort. Check-in at the Activities Activities Coral Towers . Heli Tours . Heli Tours Registration Desk. . Dolphin Encounter . Dolphin Encounter TD Canada Trust . Catamaran . Catamaran Hospitality Desk – Coral Snorkeling Snorkeling Lobby . Deep Sea Fishing . Deep Sea Fishing A Buffet lunch will be . Golf . Golf available . Earth & Fire Pottery . Earth & Fire Pottery Painting Painting Rehearsals in the . Shopping . Shopping General Session Room . Spa . Spa . Leisure . Leisure
5:00 – 7:30 pm – Free 5:00 – 7:00 pm – Free Time Time Evening 6:00 pm – 7:30 pm 6:00 – 7:00 pm 6:00 – 7:00 pm Activities Regional Cocktails – Brian to host Business Brian to host DVP & SVP 11 regions – Dig Deck Partner & SVP cocktail cocktail reception patio reception . One hour open bar with hot and cold 7:00 – 10:00 pm hors d’oeuvres / Pin 7:00 – 10:00 pm Final Gala Dinner – presentations Dine Around Paradise Harbour . Columbus Tavern, . Junkanoo parade & 7:30 -10:30 pm Graycliff (wine fire dancers Champion Club – West cellar), Humidor . Happy Snap Video Beach: “Treasure (cigar rolling), Chez . Fireworks Island” Willie’s, Luciano’s (3 . Open bar / Gourmet groups) dinner . Groups photos prior . Piped music or duo to departure 10:00 pm – 1:00 am to entertain Post dinner drinks in . Assigned Seating Hospitality Suite . Kick off for Business 10:00 pm – 1:00 am (New Providence Room) Partners Post dinner drinks in – DJ Music Hospitality Suite 10:30 pm – 1:00 am (New Providence Room)
Page 40 of 50 Post dinner drinks in – DJ Music Hospitality Suite (New Providence Room) – DJ Music
Page 41 of 50 EXHIBIT 10 – CHAMPIONS PROGRAM SURVEY QUESTIONS
1. Welcome
This survey has 19 short questions. In order to complete this survey, you will need to be familiar with the Champions Rewards program. Your feedback will assist us in ensuring that we have a "best in class" Reward and Recognition Program. Please note: This survey is anonymous, and we will not be asking you any identifying information.
2. Please tell us about yourself
1. What is your current position?
2. How long have you worked for the Bank?
3. How would you rate your overall satisfaction with the Champions Rewards Program? Please give a rating between 1 and 7, where 1 is not at all satisfied and 7 is extremely satisfied.
4. I regularly visit the Reward and Recognition Site on the B-Web.
5. I understand the rules and regulations for Champions Club.
6. I understand how the Champions Rewards Program works and how to earn points.
7. I understand how the Customer Experience Champions Program works and how to earn points.
8. I understand how my branch can earn Champions Quarterly Team Cash.
9. I am motivated by the Champions Quarterly Team Cash Rewards my Team receives.
10. I understand what I have to do to win Champions Club.
11. The Champions Campaign Rewards motivate me to work harder on the related campaign products and services.
12. The Champions Program provides me with the recognition that I want.
13. I am happy with the recognition that I receive at TD Canada Trust.
14. In the last seven days, I have received recognition or praise for the good work that I have done.
15. How often are you recognized by your manager when you do a great job?
16. How did you learn about the Champions Program?
17. Have you been to the championsrewards.com site?
18. How likely would you be to recommend the Champions Reward and Recognition Program to a new employee or colleague?
19. Based on your experience as an employee, how likely are you to recommend TD Canada Trust as a great place to work.
Page 42 of 50 EXHIBIT 11 – CHAMPIONS LAUNCH KIT
Quarterly goals are listed here Pertinent Branch results Individual team Space for Campaign for service and members’ recognizing Month to Date information is sales are results are employees who results are posted here posted here posted here did something recorded here special
Page 43 of 50 Page 44 of 50 Page 45 of 50 EXHIBIT 12 – CHAMPIONS CLUB MOMENTUM BUILDING COMMUNICATIONS
Month Content of letter Trinket
March Based on the January Composite rankings, you are tracking in the top half of your peer group.
Keep up the great work and you could qualify for Champions Club - Atlantis, our National Sales Conference being held in the Bahamas, January 2006. Remember, to get to Atlantis, you need to be in the top quartile of your peer group. Letter was accompanied by Enclosed is a little something to help keep your mind on the a conch with the Champions paradise that awaits you Cup logo as a reminder of the sands of Bahamas - Brian July You’re receiving this journal because you’re in the top 40% composite ranking among peers in your region. You could be eligible to attend Champions Club – Atlantis in 2006.
Remember – You’ll need proper travel documentation to attend the event. Plan early to get your documentation in order. We have included a list of websites on the back inside cover of this journal to help you.
Will I see you there? You have to be in the top quartile to qualify. If you’re already there, retain your ranking. If you’re close, you still have one quarter for that extra push to move into the Letter was accompanied by qualifying group. the travel journal with the Champions Club logo. The Travel journal gave useful -Brian information on the travel documents and other things to note for the conference. September We’re once again tightening the niche to the top 30% as the race to the finish line quickly approaches.
The final quarter is upon us, and it will soon be time to announce the 2006 Champions at the upcoming fall road shows. In the meantime, keep striving for those great results and these cards might come in handy on the airplane, beach, or by brushing up your gaming skills for the casino at Atlantis. Letter was accompanied by a deck of playing cards with Will you be there? the Champions Club logo to remind employees about the - Brian excitement of Atlantis Casino.
Page 46 of 50 EXHIBIT 13 – CHAMPIONS INTRANET SITE LANDING PAGE
Page 47 of 50 EXHIBIT 14 – CHAMPIONS CLUB MEMBER COMMUNICATIONS
Month Content of Letter Accompanying gift
February Communication was sent out to include the names of the Champions and the “Happy Snaps” from the conference in the form of a DVD which the Champions could keep as a memoir. The DVD also has the names of all the Champion winners
May With the Champions Club – Atlantis event already The letter was accompanied with several months behind us, I wanted to take this this leather portfolio with the moment to remind you that your membership Champion’s first and last name embossed on it. lasts for the full year. I’m counting on you to continue to strive for sales and service excellence and to play a key role in our success.
This personalized portfolio will certainly help keep you organized and looking and feeling like a Champion, and I hope it will serve as a constant reminder of the celebration in Nassau —enjoy!
Yours Sincerely,
Brian Haier Executive Vice President
August In recognition of your 2006 Champions Club Letter was accompanied with a membership, I’m happy to be sending you the $50.00 gift card from Chapters enclosed gift card for Chapters-Indigo. so that Champions could have a pleasant summer reading. This gift card can be used at any Chapters-Indigo store and can also be redeemed online. That way, you can shop at your convenience and have your book delivered directly to your home or office.
Enjoy the rest of your summer and enjoy your book!
Yours sincerely,
Brian Haier Executive Vice President
Page 48 of 50 EXHIBIT 15 – REGIONAL CHAMPIONS CLUB CONFERENCE COMMUNICATION SAMPLES
Example 1 – Ontario Central Region
Example 2 - Prairie Region
Page 49 of 50 EXHIBIT 16 – ENHANCED RECOGNITION FOR NON-SALES ACHIEVEMENT
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