Stakeholder engagement is critical to how CIBC conducts its business.
We use a variety of methods to strengthen stakeholder relationships, including gathering feedback and gauging the perceptions of our stakeholders to ensure we are meeting their evolving needs and expectations, and using this feedback to change how we run our business. And, where appropriate, change how stakeholders’ initiatives affect CIBC.
Throughout 2012, our clients, employees, shareholders and investors, suppliers, governments and regulators, non-governmental organizations (NGOs) and interest groups, and community partners helped us on a number of important issues:
Stakeholders |
Focus |
Engagement methods |
2012 key results |
Clients |
- Client experience
- Accessible banking
- Affordable banking
- Newcomers
- Small business owners
|
- Ipsos/Synovate Customer Service Index survey
- CIBC Customer Experience Survey
- Pulse Branch Experience survey
- Local problem resolution in branch, through telephone banking, CIBC Customer Care Centre, and through the CIBC Ombudsman
|
- Made steady progress on improving our client satisfaction scores year-over-year
- Improved branch experience, and problem resolution scores
- Invested in our branch network and continued innovations in mobile banking and payments
|
Employees |
- Employee engagement
- Diversity
- Employee pride
- Learning, development and career advancement opportunities
- Enable employees to contribute to communities
|
- Employee survey
- Individual employee discussions to review performance and career development
- Town hall meetings
- Employee intranet – CIBC Today – regular updates on strategy and priorities and employee commentary on messages
- Training programs
- Recognition programs
- CIBC Volunteer Program recognizes employee personal volunteer efforts
|
- Held our first ever bank-wide Employee Appreciation Day
- Improved Employee Commitment Index including an increase in employee pride
- Improved Manager of People Index and Learning and Development Index
- Invested more than $62 million in employee training and development
- Enabled employees to contribute to their communities, including $430,000 in grants through CIBC Volunteer Program
- Support for employee-led fundraising initiatives which raised $15 million in 2012
|
Shareholders and investors |
- Financial performance
- Strategic priorities
- Current economic climate
- Annual review of Canadian banks
|
- Annual General Meeting
- Shareholder resolutions
- Investor meetings
- Investor days and sessions
- Quarterly conference calls
- Dedicated investor website
- Emails, phone calls, surveys and perception studies
|
- Annual General Meeting
- Analyst calls and webcasts
- One-on-one meetings with institutional investors, rating agencies, analysts and other stakeholders
- Investor conferences
|
Suppliers |
- CIBC.com supplier web page
- Environmental requirements in procurement activities
|
- Supplier web page on CIBC.com to share information and assist existing and potential suppliers with understanding CIBC’s sourcing practices, how to become a supplier and doing business with CIBC
- Engage vendors as required through the Request for Approval (RFP) process
- Supplier environmental evaluation form
|
- We recognize that there are opportunities to improve the transparency of our supply chain management
- We continue to leverage our supplier web page on CIBC.com to improve our interactions with existing and potential suppliers
- Monthly, quarterly and annual reviews
|
Governments and regulators |
- Promoting stability and growth of Canadian banking sector in context of dynamic global economic environment
|
- CIBC fully engaged with policy makers and regulators for development of initiatives that balance growth and stability
|
- Dialogue and information exchange led to changes in regulation, as well as in product development, strategy, and business
|
Non-governmental organizations (NGOs) and interest groups |
- Small business
- Consumers
- Infrastructure investment
- Environment
|
- Facilitate policy and business discussions on current trends for clients, products and channels
|
- Dialogue and information exchange led to adjustments in strategy and business execution
|
Community partners |
- Nurturing and educating children and youth
- Supporting those living with cancer
- Assisting Canadians in need to build stronger communities
|
- Community Investment team
- Grant applications, ongoing meetings, phone calls, emails and progress reports from community partners
|
- Increased total community giving
- Community investment focus in three areas: Kids, Cures and Community
- Increased funding for education, with a focus on access for underserved youth
- Increased support for cancer research, treatment and services
- Increased funding for skills development and employment training
|