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Toronto-Dominion Bank: Workforce Diversity and Inclusion in 2021

Industry: Financial Services
Current: ESG

In 2021, Toronto-Dominion Bank reported 56.5% women participation in its workforce, a decrease of 0.5 percentage points over 2020
In 2021, representation of women in Toronto-Dominion Bank at the senior management level was 33.8%, a decrease of 4.6 percentage points over 2020
Due to labour mobility worldwide, the gender gap in organizations has narrowed over the past three decades

Diverse, equitable, and inclusive (DEI) organizations bring unique perspectives and ideas that enhance innovation, productivity, and resilience. Additionally, it promotes equal opportunities and treatment at all levels of the employment relationship, including recruitment, retention, promotions, remuneration, and training.

As a result of labor mobility worldwide, the gender gap in organizations has narrowed over the past three decades. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which helps to promote an open and inclusive workplace. However, disruption of the labor market caused by COVID-19 has had devastating effects globally. International Labour Organization (ILO) data shows women's employment declined by 5% globally in 2020, while men's employment declined by 4%.

Banks report diversity and inclusivity to ensure a more equitable and inclusive workplace. Companies and banks benefit from a diverse workforce by attracting new customers as people want to do business with institutions that share their values.

The Toronto-Dominion Bank (TD) provides retail and corporate banking, wealth management, and related financial solutions. In 2021, TD reported 56.5% women participation in its workforce, a decrease of 0.5 percentage points over 2020. During the same year, the representation of women in Toronto-Dominion Bank at the senior management level was 33.8%, a decrease of 4.6 percentage points over 2020.

In 2021, TD signed the UN Women's Empowerment Principles, demonstrating its commitment to gender equity. The principles guide for promoting gender equality and women's empowerment in the workplace.

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