Engaging Employees

At CIBC, we’re a team of approximately 45,000 employees working together to build a client-focused bank.

CIBC employees stand for CanadaCIBC employees stand for Canada

Why it’s Important to CIBC

As one team, we are all working towards the shared goal of putting our clients at the heart of everything that we do. We have a strong, supportive culture of doing what's right for our clients and each other. We're an inclusive community in which all of our team members can thrive and excel. And we're guided by strong core values of trust, teamwork and accountability.

Management Approach

From learning and development to health and wellness and career management programs, we are working together to support our team and engender a sense of ownership to make our bank a great place to work and do business.

To cultivate engaged teams and attract and retain top industry talent, we:

  • Conduct employee surveys and quarterly pulse checks to obtain feedback from our employees on the issues that matter to them most and on the ways that we can continue to make our bank a great place to work and do business;
  • Encourage career development conversations and prioritize internal candidates for opportunities at our bank;
  • Integrate our commitment to inclusion and diversity, and recognize that we need an inclusive team to achieve leadership in our industry and best serve our clients; and
  • Take a holistic approach to total rewards for our team, aligned with our business strategy.

2017 Performance

At CIBC, one of the richest sources of feedback we have is from our team. Sharing ideas is part of our culture that helps us offer a great experience both for our clients and our team members. Our annual employee survey covers a wide variety of topics including the effectiveness of managers, experiences with learning, career development, work/life balance, inclusion and other attributes of our culture. The survey results provide meaningful data to help inform actions and activities to improve the employee experience.

In addition to our annual survey that all employees are encouraged to participate in, CIBC also randomly selects team members to participate in quarterly pulse check surveys. CIBC Pulse Check surveys provide senior leadership with regular snapshots of the employee experience and how our team is delivering on CIBC’s priorities.

artist’s illustration of CIBC Square artist’s illustration of CIBC Square

CIBC Square, our new global headquarters currently under construction in Toronto, will be home to approximately 15,000 members of our team and provide a modern, flexible workplace that fosters collaboration, community and teamwork to further enable us to bring the best of CIBC to our clients.

CIBC Employee Survey Results

Survey results have historically shown year-over-year improvements in the majority of measures, and we have recently evolved our survey approach. In addition to a simplified process for employees and enhanced delivery of results to managers, the survey incorporates new measures that allow comparisons of results to other high-performing organizations globally.

CIBC’s Engagement score of 89 is seven percentage points above the global financial services norm. In fact, results from CIBC are higher than the external norm for all 12 categories we included this year. These results show that we are well positioned to leverage our employees’ goodwill to accelerate our transformation and ensure the focus on our clients is unparalleled in the marketplace.

  • Employee Engagement 2015: N/A(1), 2016: N/A(1), 2017: 7 points higher than industry benchmark(2)
The employee engagement scores for 2015 and 2016 are not comparable to the score for 2017, as the basis of the calculation has changed.
Willis Towers Watson Financial Services Benchmark.
  • eNPS 2015: 42,  2016: 44, 2017: 54

We continue to measure our Employee Net Promoter score (eNPS), which improved 10 points and set a new record this year.

At CIBC, we support employees in shaping their careers by providing development opportunities to help them reach their full potential. In 2017, two-thirds of all non-entry-level vacant positions were filled by internal talent. Our employees play an important role in helping us build the best team for our clients, with about 25% of external hires coming from employee referrals.

91% of our employees would recommend CIBC as a place to do business.

86% would recommend CIBC as a place to work.

– 2017 CIBC Employee Survey

  • Canada’s 10 Most Admired Corporate Cultures 2016 logo
    One of Canada’s 10 Most Admired Corporate Cultures™ by Waterstone
  • Canada’s Top 100 Employers 2018 logo
    One of Canada’s Top 100 Employers by Mediacorp
  • Canada’s Top Employers for Young People 2017 logo
    One of Canada’s Top Employers for Young People by Mediacorp
  • 50 Most Engaged Workplaces 2017 logo
    One of Achievers 50 Most Engaged Workplaces™ in North America

Valuing Our Team

employees working together employees working together

Our bank is committed to creating an environment where all employees are respected and recognized for their unique talents and perspectives.

Approximately 70% of eligible employees
invest in CIBC common shares through the Employee Share Purchase Plan in Canada.

Approximately $40 million
in matching contributions co-invested by CIBC towards the purchase of shares for our employees.

Total Rewards

At CIBC, we are committed to providing an exceptional employee experience where all of our team members can prosper, thrive and grow. Our bank values all team members and the contributions they make every day with the goal of helping our clients succeed.

Our employees share in the collective success of our bank and are recognized for their contributions through a competitive, performance-driven, total rewards offer that includes salary, benefits, pension, our Employee Share Purchase Plan and incentive compensation reflective of performance and aligned with our total rewards philosophy.

Our total rewards programs are designed to ensure we are:

  • Reinforcing CIBC’s strategic priorities;
  • Aligning pay with CIBC, team and individual performance;
  • Ensuring external competitiveness and internal relativity; and
  • Providing transparency.

Managers and their teams work together to establish performance expectations that link to strategic priorities and set development plans that support an employee’s role and/or career objectives. They meet regularly to review progress against goals, discuss challenges and how to overcome them, and for feedback on behaviours and actions. These conversations are critical to driving individual, team and our bank’s success.

An overall assessment of performance at year-end enables managers to evaluate employees’ achievements against their goals (the “what”) as well as demonstration of CIBC values and compliance with policies and risk management, privacy, governance and controls requirements (the “how”). This assessment directly impacts the value of incentive compensation awarded.

Incentive compensation is generally awarded on an annual basis. For senior employees, incentive compensation is delivered as cash and mid-term incentives or a combination of cash and mid- and long-term incentives to align employee and shareholder interests.

Learn more about CIBC’s approach to executive compensation in our Management Proxy Circular.

Learning and Development

Focusing on building our employees’ capabilities is critical in maintaining our competitive advantage. Beyond ensuring that CIBC team members have the capability to deliver a great client experience, we are enabling career fulfillment so that team members can thrive and excel.

We are redesigning training with a customized learner experience emphasizing our client service and digital training. For example, various onboarding and induction programs for client-facing roles have been redesigned to match learning to capability, with a flexible approach to the curriculum.

We are committed to investing in the development of our team through programs such as Unconscious Bias training, People Leadership and soft skills learning. In 2017, we invested more than $61 million globally on corporate-wide learning and development to support in-house and online training, as well as tuition reimbursement for externally offered training.


We believe it is important to recognize and reward members of our team for exceptional performance in serving our clients and supporting our strategic business activities.

In addition to our formal Performance Management and Measurement process, we have a number of programs for recognizing peers, top performers, and service milestones. Team members’ achievements are frequently acknowledged through our corporate intranet and newsfeed. Our Achievers program includes peer-to-peer recognition, quarterly individual or team Achiever awards, annual Achievers and our Awards of Distinction.

Employee Retention

We recognize the importance of retaining our talent at all levels within our organization.

We regularly monitor turnover across all employee segments and actively deploy strategies to manage turnover in key segments including increasing focus on new-hire fit-to-role, onboarding programs, learning and development as well as coaching.

Employee Turnover (%)








Voluntary turnover of high-performing employees(1)




Total turnover(2)








Voluntary turnover of high-performing employees(1)




Total turnover(2)




Those who have received the highest performance rating (exceeded expectations or exceptional).
Turnover as a percentage of regular workforce, excluding temporary employees, employees on unpaid leaves and retirees.
Excludes employees that were part of the acquisition of The PrivateBank in June 2017.

Employment in Canada

CIBC is one of Canada’s largest employers.

In 2017, CIBC and its listed affiliates had approximately 41,300 regular full-time and part-time employees in Canada.

Full-time and Part-time Employees(1) (as at October 31, 2017)

Table that provides the number of full and part-time employees by province

Province or Territory

Full-time Employees

Part-time Employees


British Columbia
























New Brunswick




Nova Scotia




Prince Edward Island




Newfoundland and Labrador




Northwest Territories












Grand Total




Headcount comprises permanent employees who are working or on paid/unpaid leaves, excluding temporary employees. Also excludes employees of Home Loans Canada and INTRIA.

Globally, CIBC’s workforce comprises approximately 45,000 full-time equivalent employees. The CIBC group of companies paid close to $2.9 billion in base salaries and benefits to our Canadian workforce in 2017.

Supporting Our Employees

We are committed to providing a safe and healthy workplace and helping members of our team balance the demands of their work and personal lives.

We provide a comprehensive range of benefits and programs that support overall health and wellness and address personal circumstances.

Specifically, in Canada:

  • Our employees are provided with the opportunity to take additional days of elected, unpaid vacation each calendar year.
  • Our Flexibility@CIBC program offers our team a variety of work arrangements, such as flexible work schedules, telecommuting, reduced and modified work arrangements, including compressed work weeks. As well, several departments have adopted CIBC@work, a program that offers a variety of options for when, where and how we work.
  • Our Emergency Backup Child Care Program is available at specific centres across Canada to help employees when regular child care arrangements are unavailable.
  • We provide our team with access to a number of resources and programs to support a healthy lifestyle, including Wellness Checkpoint, a confidential online health risk appraisal tool, and an online video series that presents information on topics including physical and mental health, relationships and personal development. We also encourage employees to organize health and wellness activities in the workplace, including physical activities (e.g., yoga, pilates, aerobics) and educational activities (e.g., e-newsletters, seminars).
  • Our Employee and Family Assistance Program (EFAP) is also available to employees to help manage personal problems and challenges, with programs that focus on a range of work, family and life issues – including health coaching and child/elder-care issues.
  • Our Ergonomics Program provides information and tools to assess individual workstations and proactively address problems to help eliminate discomfort and prevent injuries.
  • Our Workplace Accommodation Program also helps employees with various accommodation supports, such as sign-language interpreter services, assistive software and devices, and access to facilities to support religious observances.

Health and Safety

Workplace health and safety is a shared responsibility and collaborative effort, where everyone has an active role to play.

All team members in Canada are represented by Workplace Health and Safety Committees or Workplace Health and Safety Representatives who conduct monthly workplace inspections to ensure that every part of our workplace is safe.

We also provide mandatory health and safety training for all employees, as well as training on emergency procedures, and training to recognize and prevent violence in the workplace and workplace harassment. In addition, client-facing employees are provided with specialized training, as well as procedures and practices, on robbery prevention.

Workplace Accidents (Number of Injuries)(1)

Table lists the number of minor injuries and disabling injuries in 2014, 2015, and 2016.

Types of workplace injuries




Minor injuries(3)




Disabling injuries(4)




Latest data available. Federally regulated employees in Canada, including INTRIA, for calendar years 2014, 2015 and 2016. The 2017 data will be reported to the federal government in spring 2018.
Figures for 2015 have been re-stated.
Injuries that are treated in the workplace, with no time lost beyond the day of the injury.
Injuries that result in lost time in the workplace on any day following the injury. For each of the years shown there were no workplace fatalities.

Human Rights

Every member of the CIBC team has the right to be treated fairly, with decency and respect and to feel safe and secure when they come to work. We are committed to providing a workplace that is free from harassment and discrimination on the basis of characteristics protected by human rights legislation:

  • Race
  • National or ethnic origin
  • Colour
  • Religion
  • Age
  • Sex
  • Sexual orientation
  • Marital status
  • Family status
  • Physical and/or mental disability
  • Gender identity and gender expression, and
  • Any other characteristic protected by applicable legislation.

We comply with applicable human rights and related legislation in all jurisdictions in which we operate, including legislation addressing issues such as pay equity, employment equity, health and safety, discrimination and harassment. We also have a number of policies and programs to protect and promote human rights across our organization, including:

  • Code of Conduct
  • Confidentiality and Privacy Policy
  • Global Hiring Policy
  • Employment Equity Policy
  • Employee Leaves Policies
  • Employee Privacy Policy
  • Employee Time Off Policies
  • Respect in the Workplace Anti-Discrimination and Anti-Harassment Policies
  • Violence in the Workplace Policies
  • Workplace Accommodation Program
  • Emergency Back-Up Child Care Program
  • Inclusion and Diversity Programs including People Networks

CIBC has developed and implemented many due diligence processes to identify, assess, mitigate, and address risks and impacts relating to human rights in the workplace.

In particular, we have a robust Change Initiative Risk Assessment Process (CIRAP) that includes reviews of all business initiatives by stakeholders from across the organization for risk factors. In particular, Human Resources reviews all CIRAP documents to ensure any potential human rights issues are identified and addressed (e.g., for business changes that impact employees, matters that may affect employees on leaves of absence as well as accommodation issues).

In addition, CIBC has a specific team of experts within our Human Resources Department who are responsible for managing any human rights issues that may arise for employees, contingent workers and clients. This team collects ongoing data, monitors trends and makes any required recommendations to promote human rights at CIBC.

As a member of the financial services industry, CIBC is committed to ensuring slavery and human trafficking are not employed in our own business or supply chains. Following new legislation in the United Kingdom, CIBC has published its U.K. Modern Slavery Act Statement.

Learn more

Our bank respects the choice of our employees and we do not operate where the right to exercise freedom of association and collective bargaining is at risk. Approximately 2% of CIBC employees in Canada are covered by a collective bargaining agreement, specifically at our Credit Card Contact Centre in Toronto.

Inclusion and Diversity

CIBC employees at Toronto Pride parade CIBC employees at Toronto Pride parade

Celebrating and including the rich diversity of identities, talents, and perspectives of our team members helps CIBC to foster a culture of innovation and meet the unique needs of our 11 million diverse clients.

  • Canada’s Best Diversity Employers 2017 logo
    CIBC was recognized by Mediacorp as one of Canada’s Best Diversity Employers for the seventh consecutive year for our workplace diversity and inclusiveness programs.
  • Bloomberg Gender-Equality Index 2017 logo
    CIBC was one of 52 companies worldwide to be recognized for its ongoing commitment to gender diversity in the 2017 Bloomberg Financial Services Gender-Equality Index.
  • WXN Top 100 Canada’s Most Powerful Women logo
    Three CIBC executives were recognized by Women's Executive Network as Canada's Most Powerful Women: Top 100, and one executive received the Women in Capital Markets Leadership Award.
  • TRIEC Mentoring Partnership logo
    CIBC is proud of our team for mentoring more than 1,000 newcomers, 75% of whom connected to opportunities in their field, including at CIBC, within a year of completing the TRIEC Mentoring Partnership program.

At CIBC, we know that diverse teams working in an inclusive environment are more innovative, make better decisions, reduce risk and deliver a superior experience for our clients. Our differences make us stronger and support our journey in building the bank of the future, together as one team.

Being an inclusive bank is just how we do business so we are integrating accessibility and diversity into how we serve our clients. From improving access to our web-based and mobile apps to the launch of 15 new MagnusCards to help people of all abilities learn financial skills, CIBC is making banking even easier.

Key Numbers

500+ senior leaders have been through half-day Disrupting Unconscious Bias training

10,000 team members belong to CIBC’s 10 People Networks

Legacy Room

To provide a meaningful space for team members to learn about reconciliation and the legacy of residential schools in Canada, CIBC partnered with the Gord Downie and Chanie Wenjack Fund to help create the Legacy Room in our Toronto headquarters.

photo CIBC Legacy Room photo CIBC Legacy Room

Inclusion and Diversity Strategy

Our current Inclusion and Diversity strategy emphasizes the importance of inclusive leadership. The strategy is supported by our Inclusion and Diversity Leadership Council, which is chaired by a member of CIBC’s Executive Committee and supported by a dedicated Inclusion and Diversity Team, as well as senior leaders from each business and functional group.

As part of the strategy, we have rolled out Disrupting Unconscious Bias training to members of the Board of Directors, the Global Leadership Team and over 500 senior leaders across the business. We also partnered with Catalyst to extend the Men Advocating Real Change (MARC) leadership program to some of our most senior executives and clients.

Our Performance

We have made significant progress against our ambitious goals in 2017 through the support of bold business leaders, countless inclusion champions and strong community partnerships.

We made significant progress against our diversity composition goals, hiring more than 500 persons with disabilities and increasing the representation of women on our board to 41%. In 2018 we will continue to strive to attract and retain talent from Canada’s Indigenous communities.

Management’s support of diversity and team members helping out team members are two of our strengths according to the 2017 CIBC Employee Survey.
Table that provides percentage breakdown of various groups in CIBC’s senior management and total workforce.

Workforce Diversity(1)










Women in executive roles(3)





Visible minorities





Visible minorities in executive roles(3)





Persons with disabilities





Indigenous peoples









Figures represent percentage of CIBC employees who are permanent or on paid leaves as of October 31, and exclude employees on unpaid leaves. Data is voluntarily disclosed by employees, except for the number of women which is collected as part of employment records.
2015 figures have been restated to align with fiscal year-end.
Executive roles include Vice Presidents and above.
Data is not collected.
Figures represent percentage of regular employees at CIBC as of October 31. Data is voluntarily disclosed by employees, except for the number of women which is collected as part of employment records.
2015 figures have been restated to align with fiscal year-end.
Executive roles include Vice Presidents and above.
Data is not collected.


CIBC continues to be dedicated to expanding opportunities for women in business and enhancing gender balance at all levels of our organization, including our executive population, to 30%–35% by 2018. We are proud signatories of the Catalyst Accord and were the first Canadian bank to sign the Women in Finance Charter in the U.K. Victor G. Dodig, CIBC President and CEO, is Chair of the 30% Club Canada and the Catalyst Canada Advisory Board. In recognition of his transformational leadership, Victor was named a Catalyst Canada Honours Company/Firm Leader Champion in 2017.

We recognize persons with disabilities are a largely untapped talent pool and our partnerships with organizations such as Specialisterne, Prince’s Charities Canada, Magnet and Lime Connect continue to help us match candidates with the right opportunities at CIBC. As Magnet's diversity partner for Indigenous peoples and persons with disabilities, CIBC will help Magnet to further refine its search engine technology, and expand the platform to offer more opportunities to match employers and strong talent.

Percentage of Women Directors on the CIBC Board

30% Club logo

CIBC President & CEO, Victor G. Dodig, and TMX Managing Director Strategic Initiatives, Sherri Kinch, open the market as part of the launch of a joint Investor Statement of Intent by 30% Club, Catalyst and a group of sixteen institutional investors that calls on institutions and business leaders to drive meaningful progress on gender diversity.

photo TSX market opening photo TSX market opening