Chosen as one of Canada's Top 100 Employers for 2012, Top Employers for Canadians Over 40 for 2011 and Montreal's Top Employers for 2012:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors
(
Oct 6, 2011)
Some of the reasons why BDC was selected as one of Canada's Top 100 Employers for 2012:
supports employees who are new mothers with maternity leave top-up payments (to 95% of salary for 17 weeks) and provides them with a variety of alternative work arrangements for when they return to work
encourages ongoing employee development through subsidies for tuition and professional accreditation, online skills inventory, and an impressive in-house training program, which features a training facility with classrooms and computer lab, as well as a curriculum of in-house and online training programs
also manages an academic scholarship program for children of employees who purse post-secondary education (to $2,500 per child)
lets everyone share in the company's success with year-end bonuses and a profit-sharing plan available to all employees
helps older workers prepare for life after work with phased-in work options, retirement planning assistance, and matching contributions to a RSP plan as well as contributions to a defined benefit pension plan
provides employees with a flexible health benefits plan, allowing them to adapt their benefits to suit their needs throughout their careers, as well as offering assistance finding child and eldercare placements and the option of purchasing additional vacation days
Employer Background
Business Development Bank of Canada (BDC) is a federal Crown corporation that provides financing and consulting services for small and medium-sized businesses.
Established in 1944, BDC primarily focuses on the technology and export sectors of the economy, providing entrepreneurs with long-term, project-based and venture capital financing. The bank serves its clients (in both official languages) through a network of 92 branches across the country. BDC also provides a range of business consulting services, from business plan development to equipment and land acquisition assistance. The bank also supports women entrepreneurs through a dedicated $25 million equity fund and assists Aboriginal-owned businesses through specialized consulting services and financing.
Industry: Monetary Authorities - Central Bank.
Established: 1944.
Major Canadian hiring locations: Vancouver BC, Calgary AB, Toronto ON, Halifax NS.
Revenues: $632 million.
Full-time employees in Canada: 1,834.
Full-time at this location: 421.
Part-time employees in Canada: 50.
Voluntary employee turnover last year: 9.4%.
Longest serving employee: 39.6 years.
Workforce engaged on a contract basis: 2.7%.
Number of applications received at this location last year: 6,072.
Percentage of employees who are women: 51.9%.
Of managers: 36.2%.
Of directors: 25%.
Percentage of employees who are visible minorities: 13.2%.
Of managers: 5.6%.
Of directors: 8.3%.
Average age of all employees: 43.
Percentage of employees who are aboriginals: 1.3%.
Of managers: 1.7%.
Rating: B+Physical Workplace
BDC's physical workplace is rated as very good. BDC's downtown head office is located in one of Montréal's most recognized office buildings, Place Ville-Marie. The office complex is centrally located and directly linked to the city's extensive underground walking network, providing comfortable all-season access to shopping malls, restaurants and the Métro. The head office features an employee lounge (with comfortable seating, newspapers, magazines, music, television and subsidized fair-trade coffee and tea); onsite cafeteria (with healthy menu items and outdoor eating area); secure bicycle parking; shower facilities; nearby fitness facility (with subsidized memberships).
Rating: BWork Atmosphere & Communications
BDC's work atmosphere is rated as average. At work, employees enjoy casual dress Fridays. BDC hosts a number of company-paid social events throughout the year, including the President's annual reception for head office employees, a fun sports day during the summer, departmental lunches and dinner celebrations, and a special brunch for employees' children during the Christmas season (complete with fun activities and gifts). BDC keeps employees up-to-date and captures feedback through a company newsletter; corporate intranet site; email suggestion box.
Rating: A+Financial Benefits & Compensation
BDC's financial benefits are rated as exceptional. To keep salaries competitive the company participates in outside salary surveys every 12 months. Individual salaries are reviewed every 12 months. In addition to competitive compensation, BDC provides signing bonuses for some employees; new employee referral bonuses (to $2,000 for some positions); year-end bonuses for all employees; year-end bonuses (to $35,000); profit-sharing plan for all employees; defined benefit pension with employer contributions (up to 12.9% of salary); matching RSP contributions (up to 3.9% of salary); life & disability insurance; retirement planning assistance; interest-free loans for the purchase of home computer equipment; low-interest home loans; employee savings and investment plan with matching employer contributions.
Rating: AHealth & Family-Friendly Benefits
BDC's health and family benefits are rated as above-average. The company's health benefits plan is managed by Manulife Financial. As part of the health plan, the employer pays 100% of the premiums. The health plan is a flexible plan with adjustable premiums and coverage levels. There is no waiting period before coverage begins. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($300 every 2 years); traditional medicine coverage; alternative medicine coverage; massage therapy; medical equipment and supplies; homecare; employee assistance (EAP) plan; travel insurance; healthclub subsidy (to $250 each year). BDC's family-friendly benefits include; fertility treatments; maternity top-up payments (to 95% of salary for 17 weeks); extended unpaid parental leave option (beyond the first year). Additional family-friendly benefits include; post-secondary academic scholarships for children of employees; flexible working hours; telecommuting; 35-hour work week (with full pay); shortened work week (fewer hours with less pay); reduced summer hours program; phased-in retirement work options; assistance in finding childcare and eldercare placements; purchase of up to five additional vacation days through the flexible health plan.
Rating: B+Vacation & Personal Time-Off
BDC's vacation and personal time-off are rated as very good. New employees receive 3 weeks of vacation allowance after their first year. Vacation increases after 10 years on the job. Long-serving employees receive a maximum of 5 weeks of vacation each year. Employees receive 5 paid sick days every year. Employees can also apply for an unpaid leave of absence. All employees have the opportunity to purchase up to 5 extra vacation days through the flexible health plan. (For some positions, employees may start at 4 weeks of paid vacation.).
Rating: B+Employee Engagement
BDC's employee engagement program is rated as very good. Employees receive individual performance reviews every 12 months. Managers receive training in how to conduct effective performance reviews. Performance feedback is also solicited from co-workers and other managers familiar with each employee's work. As part of the review process employees can provide confidential feedback on their manager's performance. Exit interview provided for departing employees. To ensure fairness and consistency, the review process is governed by special review committees within each department. As part of the review process, employees set annual objectives, participate in mid-year progress and receive ongoing feedback throughout the year (and are encouraged to seek feedback). BDC recognizes exceptional performance with on-the-spot cash awards (to $300) and annual recognition awards (called the President's Awards of Excellence).
Rating: A+Training & Skills Development
BDC's training and skills development program is rated as exceptional. Employees receive tuition subsidies for courses related to their position. Employees may also receive tuition subsidies for courses unrelated to their current position. In addition to tuition subsidies, BDC provides subsidies for professional accreditations; in-house apprenticeship and skilled trades programs; in-house training programs; online training programs; online employee skills inventory; new employee orientation program. BDC's impressive in-house training program includes a dedicated training facility with classrooms and a computer lab facility. The curriculum includes over 60 in-house programs, 80 online courses and over 100 books and training videos.
Rating: ACommunity Involvement
BDC's community involvement program is rated as above-average. Every year, BDC and its employees actively support a variety of local and national charitable initiatives. Employees receive paid time off to volunteer with their favourite charitable organizations. Employees also receive 5 paid days off to volunteer; Approximately 46 charitable and community organizations were supported last year. BDC is a strong supporter of the annual Centraide (United Way) campaign and the Government of Canada's Charitable Workplace Campaign. In addition, employees from across the bank support numerous initiatives every year, often utilizing their 5 paid personal days for such initiatives. In recognition of their efforts, BDC recently created a new category within its existing President's Awards of Excellence program to recognize its leading employee volunteers. BDC also encourages young people to get involved in team sports by sponsoring local sports teams across the country. The bank and its employees raise money to provide equipment, sweaters, sports bags, medals and financial assistance.
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