Team member experience
Our people are the key to our ability to deliver an unrivaled client experience. We attract, develop and retain top talent and unlock the potential of every member of our diverse workforce by providing a dynamic workplace culture, meaningful career experiences and opportunities to grow.
Over the past year we were proud to be recognized for our workplace and culture:
ATTRACTING AND RETAINING THE RIGHT TALENT We leverage our growth opportunities and unique workplace culture to attract top talent. Our talent acquisition team creates tailored recruitment strategies, including partnerships with external talent specialists, to ensure we attract a diverse candidate pool for our open positions. Through our on-demand Recruiting Teal Talent learning program, we equip our leaders with the tools and resources required to recruit the right candidate and provide an unrivaled onboarding experience to support strong performance and engagement of new team members. Our 2023 annual voluntary turnover rate of 9.5% was lower than the prior year, which reflects continued strong employee engagement. We continue to closely monitor turnover across the organization and leverage and adapt our retention strategies, with a focus to retain our specialized talent. Our new hires in 2023 were comprised of 43% women and 49% Black, Indigenous or racialized persons, and promotions were comprised of 54% women and 40% Black, Indigenous or racialized persons, which aligns with our goal of a workforce and leadership team that is representative of the diversity in our communities.
Growing talent from within It is our goal to help our team members navigate a long-term rewarding career at CWB. Our leaders are equipped with tools to facilitate career design and development within their teams. In addition to our strong focus on learning and development, we provide our team members with access to resources and advisory services that support the development of practical skills required to successfully advance to the next role, including a focus on resume writing and interview preparation. In 2023, 46% of our open positions were filled internally, compared to 43% in 2022. Our teams are also our best advocates, and we believe that team member referrals are an effective way to recruit exceptional candidates who embody our culture. During 2023, approximately one third of all external hires were sourced from team member and client referrals, consistent with 2022.
32 2023 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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