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BMO and RBC Are Among Top Canada Employers for Bankers 40 and Up

The Bank of Montreal and the Royal Bank of Canada both made it onto a recent listing of the most welcoming employers for Canadians over age 40.

BMO and RBC both made it onto a short list of companies offering programs and benefits “that are increasingly important to Canada’s aging work force, and to employers who want to retain their older workers’ expertise for as long as possible,” according to Canada’s <a href=http:// http://www.theglobeandmail.com/report-on-business/managing/top-employers/top-employers-for-canadians-over-40/article2049241/
Globe and Mail.

For instance, BMO, based in Toronto and with a total of 26,781 employees, offers a sick day policy known as “people care days,” that may be used for “everything from moving to extended family responsibilities.”

And RBC, also in Toronto and with 51,100 employees, discounts and waives fees on banking services and products for its employees.

Other financial services firms cited include:

The Business Development Bank of Canada, a crredit intermediation firm with 1,835 employees, helps its staff save for retirement with matching savings contributions and a traditional defined benefit pension plan, and

Insurance firm Saskatchewan Government Insurance, in Regina, an insurance carrier with 1,710 employees that offers a “compassionate leave policy of up to 100 per cent of salary for six weeks for employers needing to care for a close family member.

The firms appeared on a list of 15 companies judged on whether they offer some of the following:

· Initiatives and programs to assist older employees;

· Active recruitment of new workers older than 40;

· Pension plans with employer contributions;

· Retirement help and succession planning;

· Social activities and volunteering to help existing bankers maintain connections to retired former co-workers;

· Extended health benefits;

· Phased-in retirement, and:

· Mentorship to ensure skills are passed to the next generation.

Both “Age and experience matter to winners of this year’s Top Employers for Canadians Over 40 competition,” says the Globe and Mail.

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