BUSM 2115 - Employee Engagement: Comparing Scotia and CIBC Banks

This report provides a comparative analysis of employee engagement strategies at Scotia Bank and CIBC, two major Canadian banks. It examines the concept of employee engagement, its pros and cons, and then contrasts the approaches of the two banks in areas like bonuses, job opportunities, wage increases, perks, and technology. The report finds that CIBC generally has more progressive and employee-friendly policies, leading to higher morale, while Scotia's more traditional approach may be less effective. It also outlines best practices in employee engagement, such as listening to employee voices, understanding individual learning styles, and adopting a bottom-up approach to problem-solving. The report concludes by highlighting the importance of these strategies for improving employee morale, productivity, and profitability. Desklib offers a wealth of similar solved assignments for students.

Running head: EMPLOYEE ENGAGEMENT
fEmployee Engagement
Name of the Student
Name of the University
Author note

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EMPLOYEE ENGAGEMENT
Executive Summary
The research paper has helped in the analysis of the different kinds of the employee
engagement strategies which has been used in Scotia and CIBC banks which are based in
London. This has been seen that there are different issues and pros of the employee relation
and engagement strategies in both the companies which have been addressed in an effective
manner. The different employee engagement strategies and the other issues have been
resolved with proper implementation of various strategies in an effective manner. The
different pros and cons of the strategies related to employee engagement has helped in
analyzing the different strategies which can be adopted to gain competitive advantage in the
entire market effectively.
Furthermore, this has been seen and analyzed that there are different kinds of employee
relation strategies which has been applied by one company, however the other company lacks
in the same and this affects the entire capability of the firm to be competitive in the entire
market. This has been noticed and identified that there are different and various kinds of
issues which have been found in the employee engagement strategies of Scotia and this was
performing in a great manner in CIBC Bank. The CIBC bank needs to include different other
strategies which can help them in being more competitive help the company to reduce the
rate of the employee turnover.
Lastly, this has been seen and noticed that both the companies had implemented the
employee engagement strategies and norms which are different from one another. On one
hand, this was noticed that the employee engagement strategies used at Scotia was traditional
approach and this was not being able to satisfy the requirements of the employees. On the
other hand, this was seen that the employees in CIBC bank were happy and satisfied as the
approach is effective.

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Table of Contents
Introduction................................................................................................................................4
Overview of CIBC.................................................................................................................4
Overview of Scotia.................................................................................................................4
Concept of Employee Engagement............................................................................................5
Pros and Cons of Employee Engagement..................................................................................6
Comparison of CIBC and Scotia................................................................................................6
Best Practices in Strategies relating to Employee Engagement.................................................8
Best Practices in Terms of Downsizing and Termination Practices........................................11
Conclusion................................................................................................................................13
References................................................................................................................................15
Appendix..................................................................................................................................18
Case Study of Google...........................................................................................................18

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EMPLOYEE ENGAGEMENT
Introduction
The report helps in the analysis of the employee engagement practices which are
required to be undertaken by the companies named CIBC and Scotia which are based in
Canada. Furthermore, the different strategies related to employee engagement is required to
be analysed in an effective manner which will improve the techniques which are being
followed by the organizations effectively.
The pros and cons of the employee engagement strategies is required to be followed
which will be improved in an efficient manner. Lastly, the matrix is required to be created in
order to compare the differences in both the companies which will provide with a brief
overview on the organization and this will help in gaining competitive advantage effectively
as well.
Overview of CIBC
The Canadian Imperial Bank of Commerce is one of the biggest five banks which is
based in Canada. The headquarter of the bank is in Commerce Court which is at Toronto,
Ontario("Personal Banking | Financial Services | CIBC", 2018). The number of employees
who are working in the organization is 44928 till the year 2017 and the revenue which has
been earned by the company is C$16.28 billion. The CEO along with the president of the
company is Victor G. Dodig who is the care taker of the various activities which are being
performed at CIBC and this will help in managing the different activities in an effective
manner as well.
Overview of Scotia
The Scotia bank is one of the Canadian multinational bank and this is the third largest
bank in Canada by deposits along with the capitalisation of the market("Scotiabank Global
Site", 2018). The company was founded in the year 1832 and the headquarter of the company

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is located at Toronto, Ontario. The number of employees working in the organization are
88645 till the year 2017 and the revenue which is being earned by the company is C$16.3
billion and the key people of the company is the CEO of the company named Brian J. Porter.
Concept of Employee Engagement
Employee Engagement is one of the fundamental concept which helps in understanding and
describing both quantitatively and qualitatively nature of the relationship between the
employees along with the organization. The employee engagement is the emotional
commitment to the goals and values of the organization and this helps in providing
motivation to contribute to the organizational success with enhanced and proper sense of the
wellbeing of the individuals (Mone& London, 2018). The engagement of the employees or
the employee relations help in better productivity of the organization which will be effective
in nature.
When there is motivation provided to the employees, the employees will be making
additional kind of effort, they will be learning faster and quicker and become more creative in
nature as well. Furthermore, the engagement of the employees is one of the good predictors
of the customer satisfaction, retention of the different personnel along with improving
profitability and productivity of the entire organization (Brewster, Chung & Sparrow, 2018).

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Pros and Cons of Employee Engagement
Comparison of CIBC and Scotia
With the help of a matrix, proper comparison of both the banks are being done below
which will help and assist in understanding the various kinds of negative and positive aspects
of the employee relation and engagement in the organization which will help in making the
process more effective in nature and this will help in managing the different activities in an
effective manner (Mishra,Boynton & Mishra, 2014).
Particulars CIBC SCOTIA
Bonuses and Raises The patterns which are used
varies from one year to other
It depends according to the
position
DifferentJob
Opportunities
The candidates can apply for
the different job positions
after minimum one year of
experience
There are different kinds of
experiences required for
applying for the jobs in
Scotia Bank
Increase in Wages There will be more than After the promotion, there
Pros of employee engagement
It helps in motivating individuals
Process of decision making is effective
There is increase in sense of responsbility
Cons of employee engagement
There is greater risk of security
The procedure of the company is expensive
Regular updates is mandatory or else this becomes
ineffective

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12% increase in the
promotion of the higher
officials
will be only 4% increase in
the wages for the higher
position
Different kinds of perks The mobile bill expenses are
being provided by the
company and the EPP plan
of CIBC is less expensive
(Huang et al., 2016)
The different refreshment
plans are being provided to
the employees such as
movie tickets and other
facilities
Banking Offer There are different special
kinds of rate on the loan
which is being provided to
employees such as
employees loan and the
computer loans
However, there are no such
special benefits or offers
provided to the employees
working in the organization
Technology The web portals are being
updated at regular intervals
and the technological
advancements help in
making the company and
officials more attracted
towards gaining profitability
of the organization (Bailey
et al., 2018)
The technological
advancements in the
company is not up to the
standard and these are back
dated in nature. The time
sheets are not up to the
standard

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From the above analysis, this can be analysed that both the companies are different
from one another in nature. It can be seen that in CIBC, there are different kinds of hike in
salary of the employees and this helps in motivating the employees in an effective manner.
The technological advancements in the respective bank has helped in increasing the morale of
the employees who were working in bank in an effective manner. The bank tries to provide
various opportunities to the employees in the organization such as providing perks to the
employees in the organization (Mishra, Boynton & Mishra, 2014).
Furthermore, on the other hand, the position of Scotia is not up to standard as there
are different issues in the technologies or the offers which are being provided by the bank to
the employees and this demotivated the employees as well. This hugely affected the entire
productivity and profitability of the organization as there are different kinds of issues faced
by the organization wherein the employees were leaving the job of Scotia as there was no
such recreation or motivating activities in the organization (Albrecht et al., 2015).
Best Practices in Strategies relating to Employee Engagement
There are different strategies which are related to employee engagement and it is
required to be followed and maintained in all the companies in an effective manner. In order
to improve the morale of the employees, there are different drivers which are required to be
adopted by the companies which will improve the productivity and profitability of the
organization effectively (Breevaart et al., 2014). The key drivers of employee engagement are
as follows:
 Meaningful kind of work Management along with Leadership Relationships with the different co-workers Growth and Freedom

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These are the different kinds of key drivers of maintaining proper relationship with
the co-workers and this will help in engaging the different employees as this will improve
their morale by improving the overall working conditions in an effective manner. The
different strategies of employee engagement areto listen to the voice of the employees and
this will help in sharing good practice along with ideas between the teams (Renwick,
Redman& Maguire, 2013).
Both Scotia and CIBC companies are required to be compared in such a manner
which will help in managing the differences between the two effectively. Furthermore, as per
the different policies and procedures of the company, this can be analysed that CBIC is better
than the Scotia Bank as the company policies are effective and it is based on the advancement
of the technologies as well (Anitha, 2014). On the other hand, Scotia did not have such
modern techniques and they use the traditional techniques which is ineffective in nature and
this is making their company suffer in terms of productivity and profitability as well.
Particulars CIBC SCOTIA
Listening to Voice of
Employees
It is being done by CIBC
and this helps the company
in increasing the morale of
the employees working in
the organization
It is not being done by
Scotia and there are different
kinds of grievances of the
employees which are not
being addressed in an
effective manner
Show them the
management listens to the
grievances of employees
The management tried to
create different review
systems in which they tried
to gain knowledge on the
different kinds of grievances
The management of Scotia
do not follow any kinds of
grievance solving procedure
in the organization and this
is making the entire system

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of employees as this helps
the employees in feeling
motivated (Brewster, 2017)
ineffective in nature as well.
Understanding Individual
learning styles and
preferences
The learning styles and
preferences of employees
are being understood clearly
which provided motivation
to the employees as they felt
they are important to the
organization and they are
being valued
On the other hand, in Scotia,
there ae no such learning
styles which are not being
performed by the employer
in the organization and this
affects the morale of the
employees in a negative
manner
Think Bottom up and not
Top Down
The CIBC includes and
follows different surveys
and questionnaires, this
helps them in understanding
the different queries of
employees and solve their
issues in an effective manner
(Casio, 2018).
The Scotia follows the
traditional approach of
understanding the
grievances of employees.
This think bottoms up and
not top down is not being
followed by them and this is
affecting the morale of
employees as they are
feeling they are not being
valued (Bratton& Gold,
2017)

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From the table, this can be analysed that there are different kinds of employee
engagement strategies which are required to be followed by the different organizations in an
effective manner which will improve the overall morale of the employees (Alfes et al., 2013).
After the entire comparison matrix of both the organizations, this has been seen that in CIBC,
the employees are being valued wherein this has been seen and analysed that the company
tried to motivate the employees by making them feel important. CIBC tries to analyse the
different views of the employees towards achieving the organizational objectives and such
opinions are taken into consideration as well (Karanges et al., 2015).
However, on the other hand, Scotia Bank do not implement such strategies and
policies in the respective organization. This has been seen and noticed that the employees in
the organization are not feeling up to the standard and this is affecting the entire morale of the
employees in a negative manner as well (Mone& London, 2018). It has been seen that the
employees are not satisfied with the different traditional techniques applied by the
organization and this has affected the morale of the employees in a negative manner as
well(Graban, 2016).
From this comparison, this can be analysed and identified that CBIS Bank is much
more effective in nature in comparison to the Scotia Bank. There are different kinds of
analysis which has been done on the basis of the strategies on employee engagement helps in
understanding that the employee relation and engagement plays a vital role in managing the
morale and productivity of the employees and organization which is efficient in nature
(Purce, 2014).
Best Practices in Terms of Downsizing and Termination Practices
Particulars CIBC SCOTIA
Downsizing There are different effective There are no such methods