TD Introduces Industry-Leading Parental Leave Policy

The expanded policy covers fathers, same-sex parents and adoptive parents.

REUTERS

TD Securities U.S. and TD Bank (No. 38 on the DiversityInc Top 50 Companies list), launched a new parental leave policy, which offers 16 weeks of paid leave to all parents – men and women – welcoming a new child, either by birth or adoption.

The policy is among the most generous in the financial services industry and is in line with TD’s commitment to ensuring women and men across diverse communities have every opportunity to be successful in their careers at TD while making family a priority.

Key provisions of the policy include:

  • 16 weeks of paid leave to all eligible parents
  • Primary and secondary caregiver eligibility, regardless of gender
  • Job protection during leave

“In revising our policy, we wanted to recognize and reflect the changing needs and beliefs of families,” said Glenn Gibson, Vice Chair and Regional Head of TD Securities U.S. “TD supports and recognizes the unique needs of all families.”

In expanding its parental leave benefits, TD revealed insights from its TD Bank Family First Survey finding that 62 percent of Americans – and 85 percent of millennials – believe a parental leave policy is an important factor to consider when choosing an employer. Additionally, more than one-third (37 percent) of Americans – and half of millennials – believe parental leave policies should evolve to be inclusive of modern families.

The TD Bank Family First survey also found that, for 78 percent of Americans, if an employer didn’t offer parental leave it would impact the amount of time they would take off; and 78 percent would take additional unpaid time if money were not a factor.

TD believes there is no “one size fits all” approach when it comes to families. “All parents should have the opportunity to welcome their new children home, without worrying about work or pay checks, which is why our new parental leave policy is so important to our employees,” said Beth Webster, Head of Human Resources at TD Bank.

Learn more about the TD Bank Family First Survey here.

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