CIBC announces pilot backup child care centre for employees in Toronto area

Dec. 13 2001 - CIBC announced a partnership with ChildrenFirst, a major provider of backup child care, to pilot an on-site backup child care centre at its Toronto headquarters. The downtown centre, be open by late 2002, operated by ChildrenFirst will be exclusive to CIBC employees.

"We expect to be the first bank in Canada to offer centre-based backup child care," said John Hunkin, chairman and CEO of CIBC. "From our experiences with a similar centre serving our New York employees, we've found this service helps employees balance the competing demands of work and family when they need help the most. This new investment in our employees further strengthens our commitment to be an employer of choice."

As well as helping to address the shortage of quality backup child care, CIBC is expecting this employee service to enhance employee morale, recruitment, retention and productivity.

"CIBC is a leader in helping employees effectively balance work and family responsibilities," said Nora Spinks, a Canadian expert on family and work issues. "Backup child care is a growing trend in employer-supported workplace child care. It helps dual career families, as well as those with a stay-at-home parent, and removes pressure from colleagues and co-workers who might otherwise have to step in during these unpredictable and stressful times."

Corporate-sponsored backup child care is available to employees with children aged 3 months to 12 years when there is a planned or sudden breakdown of their regular child care arrangements.