Our Employee Population
Scotiabank's strength comes from a highly diverse workforce — thousands of Scotiabankers around the world who contribute their talents and skills, and share their unique perspectives, backgrounds and experiences.
The charts below provide a snapshot of the Scotiabank team, as well as a few key indicators regarding our workforce. These include turnover rates, union membership and approach to organizational change and restructuring.
- Employee population by region
- Geographic breakdown by country
- Number of employees in Canada*
- Total voluntary* turnover of high-performing employees** (Canada)
- Managing labour relations
- Organizational change
Employee Population by Region
Employee Population by Country
|Total Voluntary* Turnover of High-Performing Employees** (Canada)|
|* Voluntary denotes those who have left due to resignation, voluntary settlement, or contract expiration.|
Managing Labour Relations
Scotiabank is committed to treating all employees with fairness and respect, in accordance with our core values. The same values drive the Bank's approach to employee and labour relations.
Based on international and universal labour standards, such as the Declaration on Fundamental Principles and Rights at Work, including Conventions of the International Labour Organization on Freedom of Association and Collective Bargaining, Scotiabank:
- respects the right of its employees to join a trade union for purposes of collective bargaining, without intimidation or undue influence from the Union, Employer or any other party; and
- believes that, as an Employer, it is an interested party in any Union organizing activity or application for Union certification and is entitled, in accordance with local laws, to express its point of view so that employees can make a personal decision based on correct facts and information.
Scotiabank's approach to labour relations, including collective bargaining and collective agreements, is based on a respectful relationship and open communication with Unions certified to represent employees. When negotiating collective agreements, Scotiabank bargains in good faith and acts in the best interest of all stakeholders, including customers, shareholders and employees.
The Bank does not presently operate in any jurisdiction where local law prevents freedom of association or the right to join a trade union in accordance with universal labour standards prescribed by the International Labour Organization. In fact, Scotiabank successfully negotiated first collective agreements with trade unions in Uruguay and Peru in 2012 following the lawful exercise of freedom of association by employees in those countries.
Scotiabank has unionized employees in 13 countries, representing approximately 9,000 employees worldwide.
Open, transparent communication between Scotiabank and employees is an essential part of how we do business. This is important when the Bank executes change initiatives that affect them, including organizational growth and expansion, acquisitions, operational restructuring, outsourcing of services, strategic alliances and joint ventures or strategic divestitures.
In all transitions, ensuring employees are treated equitably and fairly is key, and the Bank meets or exceeds local standards in all cases. Scotiabank utilizes interactive town halls and team meetings, employee communications, an internal collaboration site, intranet sites, and messages from the CEO and other senior leadership to ensure employees are kept well informed. Where collective agreements exist, Scotiabank complies with notice obligations and conducts open, timely and respectful communication with Union representatives. The Bank gauges its effectiveness through an annual employee engagement survey that measures employee feedback on open two-way communication. In this regard, Scotiabank is an industry leader, scoring well above other industry norms.
The chart below provides an overview of organizational changes in 2012, which had a direct impact on employees.
|Organizational Changes in 2012|
|Transaction and Partner||Employee Impact|
|Scotiabank divested of its majority interest in Transportation Lease Systems Inc. (TSLI), the holding company of TLS Fleet Management.||Approximately 130 employees of TLSI were transitioned as part of the sale.|
|Acquisition of 51% of Banco Colpatria in Colombia||Banco Colpatria is Colombia's fifth largest financial group and one of the country's leading lenders with a positive track record of growth. The bank is the second largest credit card issuer in Colombia and also offers commercial and consumer loans and home mortages through its network of 175 branches and 308 ATMs, and more than 4,000 employees.|
|Acquisition of 51% of Colfondos in Colombia||Colfondos is Colombia's fourth largest pension fund with $9.25 billion in assets under management and 1,200 employees.|
|Credito Familiar from Citigroup Inc.'s, Banamex unit in Mexico||Credito Familiar was founded in 1996 with the aim of extending personal loans to working-class Mexican families. Over the past decade the lender has given credit to more than 3.6 million clients. Credito Familiar currently has around 2,400 employees and more than 240 branches in Mexico.|