Scotiabank’s strength comes from our highly diverse workforce – composed of thousands of employees around the world – who contribute their wide range of talents and skills, and share their unique perspectives, backgrounds and experiences.

The data below provides a snapshot of our team, as well as a few key indicators regarding our workforce. These include turn-over rates, union membership and our approach to organizational change and restructuring.

Employee population by region
Geographic breakdown by country
Number of employees in Canada*
Total voluntary turnover of high-performing employees** (Canada)
International employee turnover rates (%)*
Managing union relations
Organizational change

Total voluntary* turnover of high-performing employees** (Canada)

2006	3.6%
2007	2.8%
2008	3.9%

* Voluntary denotes those who have left due to resignation, voluntary settlement or contract expiration.

** High-performing are those who have received performance ratings of either “exceptional” or “superior” – the highest rating categories.

International employee turnover rates (%)*

Country / Region	Total
Asia Pacific and Middle East	15%
Costa Rica	14.5%
El Salvador	13.4%
Jamaica**	10.6%
Mexico**	12%
Trinidad & Tobago	10%

* Represents a sample of international locations based on number of terminations/total average base population in fiscal 2008. ** turnover includes Dehring Bunting & Golding Ltd. *** fiscal year from Oct 1, 2007 – Sept. 30, 2008.

Managing union relations
Scotiabank has relationships with unions that are certified to represent employees in a number of locations around the world. Our approach to managing these relationships is through collective bargaining and collective agreement administration that is based on respectful relationships and open communication.

Scotiabank respects the right of its employees to join a trade union for purposes of collective bargaining and we have practices in place to help ensure that employees can exercise such rights free of intimidation, misinformation or undue influence, either from the employer or a trade union. This approach is followed in all locations where we operate.

Scotiabank has unionized employees in 10 countries, representing more than 8,000 represented employees worldwide.

Organizational change
Open, transparent communication between Scotiabank and our employees is an essential part of how we do business and how we execute change initiatives that affect employees, including operational restructuring, outsourcing of services, strategic alliances and joint ventures, acquisitions or strategic divestitures.

• Whenever we negotiate acquisitions or manage internal reorganizations, meeting the needs of employees is a top priority and any changes affecting the terms and conditions of employment are discussed with unions, as applicable and appropriate.

• Where provided either by law or collective agreement, the Bank complies with any minimum notice periods. Such periods can vary by country or jurisdiction. Where the period is not specified, the Bank provides reasonable notice under the circumstances.

• In Canada, if an employee is unable to find a position elsewhere in the Bank after a restructuring, they are provided with a severance package in compliance with the employment standards legislation and common law principles.

Examples of completed or approved transactions that have implemented integration planning activities to date: