BMO Makes It to the List of Top Employers for Canadians Over 40

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Over-40 Canadians need not feel their job opportunities are limited to a few financial concerns north of the U.S. border.

Recently, three Canadian financial companies and one financial government office were named by Canada’s Globe and Mail as among 15 employers considered best in class for Canadians over 40.

The list released several weeks ago includes the Bank of Montreal, the Business Development Bank of Canada, Desjardins Group and the Office of the Auditor General of Canada.

All are taking care to keep talent in the house longer with programs and benefits designed for older workers, says the Globe and Mail, which goes on to explain that “some of the highlights that placed organizations on the winners list include: stable pensions, particularly defined-benefit programs,” which have become more and more unusual over the past decade.

Other perks offered by many of the top-rated firms include:

  • Targeted recruitment of older employees
  • Health plans that extend into retirement with no age limit
  • Opportunities for training and development
  • Flexible working arrangements and time off
  • Recognition of previous experience for vacation entitlements
  • Retirement planning
  • Phased-in retirement working options and mentorship programs designed to ensure that skills are passed to younger workers

Specifically, the financial concerns listed as being the best in the nation for the over-40 crowd are:

1. The Bank of Montreal, based in Toronto, with some 29,605 employees as of April of this year, which encourages ongoing employee development for workers through subsidies for tuition and professional accreditation.

2. The Business Development Bank of Canada in Montreal, Canada’s monetary authorities-central bank with some 1,834 employees. As part of its health plan, the central development bank offers employees the option of purchasing additional vacation days.

3. Desjardins, of Lévis, Que., a financial cooperative of credit unions which provides members and clients with a wide range of banking services. With some 37,713 employees, Desjardins helps employees plan for life after work with retirement planning assistance services.

4. The Office of the Auditor General of Canada, based in Ottawa. With some 689 employees, the employer is a source of objective information that Parliament needs to hold the federal government accountable for its stewardship of public funds. It offers phased-in retirement work options for its older employees.

The Globe and Mail competition for top-rated companies for employees over 40 is now in its 11th year. It is comprised of detailed reviews of companies’ operations and human resources practices. Companies were selected from the Globe and Mail’s 2012 Top Employers national competition and were compared with other employers in their industry and region.

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