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TD Introduces Industry-Leading Parental Leave Policy

Expanded policy covers fathers, same-sex parents and adoptive parents

TD survey underscores influence parental leave benefits have on Millennials' career decisions

Jun 7, 2017

CHERRY HILL, N.J., June 7, 2017 /PRNewswire/ -- Today, TD Securities U.S. and TD Bank, America's Most Convenient Bank®, 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.

Survey Methodology
The study was conducted by research company Maru/Matchbox. Respondents were composed of a nationally representative sample of 1,501 individuals, with a margin of error of +/- 2.5 percent. Interviews were completed from May 19 through May 25, 2017. Data has been weighted by age, gender and region to reflect the population.

About MARU/Matchbox
MARU/Matchbox is a professional services firm dedicated to improving its clients' business outcomes. It delivers its services through teams of sector-specific research consultants specializing in the use of Insight Community and Voice of Market technology.

About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.

About TD Securities
TD Securities provides a wide range of capital market products and services to corporate, government and institutional clients who choose us for our knowledge, innovation and experience in the following key areas of finance: investment, corporate and government banking, capital markets, interest rate, currency and derivative products. TD Securities works with clients around the world and our services include the underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and executing daily trading and investment needs. To learn more about TD Securities, visit www.tdsecurities.com.

 

SOURCE TD Bank

For further information: For media inquiries: Laura Bernstein, Prosek Partners for TD Bank, 212-279-3115 x267, lbernstein@prosek.com ; For additional information: Cynara Charles-Pierre, TD Bank, 347-626-9536, cynara.charles-pierre@td.com

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