Compensation Policies at Toronto Dominion Bank
A 6 page paper discussing compensation based on pay for performance. Toronto Dominion Bank is Canada's fourth-largest, and is not limited geographically only to Canada but also spills over into the US, with 30,000 employees and assets of $100B Canadian. The TD Bank typically has been one to pursue new challenges and new technologies. Much of the decision-making surrounding the compensation system of 1993 seems to be vague and too subjective to be a truly performance-based system, but it is clear that TD Bank seeks to create and maintain a system of fairness, both real and perceived. Whether pay based on performance is a fully valid approach in today's competitive labor market is debatable, but the Toronto Dominion Bank appears to have applied it more effectively than most. Bibliography lists 6 sources.
File: CC6_KS-TDbank.doc
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