TORONTO, April 14, 2023 /CNW/ - For the fourth year in a row, Scotiabank is proud to be recognized as one of the Best Workplaces™ in Canada by Great Place to Work^®. In the last year, Scotiabank also earned recognition globally as the only Canadian headquartered company and only financial institution to be recognized as one of the top 25 World's Best Workplaces™.

The Best Workplaces™ in Canada list is employee-driven, providing an overall portrait of workplace culture through key trust-building dimensions including credibility, respect, fairness, pride, and camaraderie.

"We strive to create a work culture where every employee can belong and thrive, bringing their whole selves to work," said Barb Mason, Group Head and Chief Human Resources Officer. "Today, Scotiabank is stronger, more diverse, and more inclusive than it ever has been, and this award is a testament to the pride our employees have for the Bank, and in what our teams have accomplished together."

As an employer of choice, Scotiabank is committed to continuously evolving benefits and program offerings to meet the diverse needs of its employee population, and creating a culture where all employees feel supported, valued and accepted. Recent investments the Bank has made in its people include:

• A new global standard for parental leave for employees in Canada. The enhanced offering includes 8 fully paid weeks for all parents welcoming a new child and 8 additional fully paid weeks for parents who have given birth. Recognizing that families are formed in different ways, the Bank introduced coverage for fertility treatment, adoption, and surrogacy benefits with a lifetime maximum of $10,000 each in 2022.
• Increased mental health benefits for employees and their dependents in Canada from $3,000 to $10,000 each in coverage services including clinical counsellors, internet-based cognitive behavioural therapy, psychologists and more.
• To support Indigenous employees who wish to participate in cultural practices and events, five paid days off annually to eligible employees in addition to regular vacation and personal time. Indigenous employees can also now submit expenses related to Indigenous healers and elders, Indigenous ceremony supplies, and traditional medicine.
• Continuing to evolve employees' learning paths through its Scotia Academy global learning platform, which caters to all levels and career stages. In 2022, Scotiabank invested $73 million globally in employee training and development, an average of 40.5 training hours per employee.

Scotiabank is committed to building a culture of allyship and hosted its second annual allyship event for its 90,000 employees across the Bank's footprint in January, highlighting examples of allyship in action since the Bank renewed its Diversity and Inclusion goals in 2020. Earlier this year, Scotiabank also announced its inclusion in the Bloomberg Gender-Equality Index for a sixth consecutive year, a market index that aims to track the performance of public companies committed to transparency in gender-data reporting.

Scotiabank was also recognized by Achievers as one of the Top 50 Most Engaged Workplaces for 2023, an award which recognizes top employers that display leadership and innovation in engaging their workplaces. Recognition is a key part of Scotiabank's culture and acknowledging and celebrating wins is encouraged all year long. Scotiabank's Applause platform is designed for employees to visibly recognize — and be recognized by — their peers and colleagues for living its culture and for exemplifying the Bank's values in their daily work.

About the Best Workplaces™ in Canada

The 2023 Best Workplaces™ in Canada list is compiled by the Great Place to Work^® Institute. The competition process to be ranked on this list is employee driven and represents multiple industries and sizes of organizations. Seventy five percent of each organization's score is based on confidential employee feedback, from the globally recognized Trust Index^® Survey. The remaining twenty-five percent is based on quality, quantity and effectiveness of the programs and policies which support their employees and corporate culture. This study offers a rigorous representation of the organization from an employee perspective, and an overall portrait of the workplace culture. Together, they provide crucial data relative to five trust-building dimensions: credibility, respect, fairness, pride, and camaraderie.

This year's list captures the experience and sentiment of 150,000 employees, rolling out to impact over 500,000 Canadian employees.

About Great Place to Work^®

Great Place to Work^® is the global authority on high-trust, high-performance workplace cultures. It is a global research and consulting firm with a mission to build a better society by helping companies transform their workplaces. Great Place to Work^® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures. In Canada, Great Place to Work^® produces both industry and demographic specific Best Workplace™ lists. This is part of the world's largest annual workplace study, which culminates in a series of national lists in over 50 countries, including the study's flagship list of 100 Best Companies published annually in Fortune magazine.

Globally, this survey represents the voices of 11 million employees, which are the primary determinant used in selecting winners. There's only one way to get on this list – your employees have to put you on it.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of over $1.3 trillion (as at January 31, 2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

SOURCE Scotiabank