TORONTO, May 5, 2022
/CNW/ - CIBC today announced it has enhanced health and wellbeing
benefits for its employees, including increased income replacement
benefits during child care leave, mental health services, gender
affirmation care, fertility treatments and access to registered
dieticians. These enhancements will enable CIBC's employees to
achieve their personal ambitions at every stage of their life
journey.
"The wellbeing of our team has long been a cornerstone of CIBC's
culture and will remain essential as we look to the future," said
Jackie Goldman, Senior
Vice-President, Rewards, Recognition and Performance at CIBC. "We
recognize that team members are diverse and have unique needs, and
we are listening to them as we evolve and expand our benefits
coverage. Our goal is to provide benefits that are inspired by our
purpose and truly focused on supporting our team's total
wellbeing so they can achieve their ambitions."
Highlights include:
- Enhanced child care offerings, for eligible Canadian and US
employees, with paid leaves beginning July
1, 2022 extended to 17 weeks for maternity, parental and
adoption leaves in Canada, and for
primary and secondary caregivers in the US.
- Enhanced fertility benefits to support those employees in
Canada who need help conceiving
including coverage for prescription medication and other
treatments, as well as reimbursement for certain out-of-pocket
medical expenses related to surrogacy.
- New coverage for eligible gender affirmation expenses has been
added to support transgender employees. This covers specific gender
transition surgeries and procedures not covered by provincial
gender affirmation programs up to $10,000 a year to a lifetime maximum of
$25,000.
- Registered dieticians have been added to the list of
paramedical services to help employees optimize their wellbeing
through professional nutrition advice, alongside other eligible
service providers such as an acupuncturist, chiropodist/podiatrist,
chiropractor, massage therapist, naturopath and osteopath.
These efforts build on existing benefits that focus on wellbeing
including:
- An increase in mental health services coverage to 100%
reimbursement for accredited psychologists, social workers (MSW),
psychotherapists, marriage and family therapists and clinical
counsellors up to $5,000 per year
combined, across all medical options. For many team members and
their families, this more than doubles their coverage in this
important area.
- An ongoing advice series from CIBC's Corporate Medical Director
to provide a trusted source of health and medical information
through the pandemic and discuss health-related topics that are
important to team members.
- Access to resources, such as an employee and family assistance
program (EFAP), an online wellbeing video library, and online
mental health therapy options.
- Conducting an annual Employee survey, as well as Pulse surveys,
and utilizing that feedback to inform CIBC's wellbeing
policies.
About CIBC
CIBC is a leading North American financial institution with 11
million personal banking, business, public sector and institutional
clients. Across Personal and Small Business Banking, Commercial
Banking and Wealth Management, and Capital Markets businesses, CIBC
offers a full range of advice, solutions and services through its
leading digital banking network, and locations across Canada, in the
United States and around the world. Ongoing news releases
and more information about CIBC can be found at
https://www.cibc.com/en/about-cibc/media-centre.html.
SOURCE CIBC