TD Bank announced a program to help financial professionals make a comeback to the industry following prolonged personal, family or medical leave.
The institution has collaborated with iRelaunch for the return-to-work program, which is accessible to employees in commercial lending and credit management who have been out of work for at least two years, a press statement said. TD Bank said it will launch its first 16-week program in the New York City region in January 2020.
The program will assist professionals, particularly women, successfully return to the workplace through coaching, mentoring, career revitalization, personal development and networking, the statement said.
Citing a Harvard Business Review study, TD Bank said that while 43 percent of women leave the work force to raise children, seek treatment of personal illnesses or to care for aging parents, many eventually need to resume their careers.
“Career relaunch programs present a huge opportunity to tap into a skilled pool of talented individuals who want to return to the traditional workforce,” Chris Giamo, head of commercial bank at TD Bank, said in the statement.
“TD Bank strongly supports the success of all of our employees — and especially women in the banking sector — and I am thrilled that we are launching this program as a key part of that effort.”
Return-to-work or returnship programs have been around for some time and their main mission is to prepare those who have had a break in their career for work and reconnect them professionally similar folks.
Such programs can be a win-win for employers and workers. Employers get an opportunity to work with program participants and measure their performance before hiring them. On the other hand, professionals get an opportunity to resume their careers and become marketable again.
Return-to-work programs also broaden the talent pool for employers in a competitive labor market.
Earlier this year, Oil and gas producer BP saw an improvement in a career returnship program after reviving its Returnship Program. The return-to-work was resurrected after the company enjoyed a successful pilot program in 2017. Furthermore, BP extended the program from six to nine months to allow as many people to participate.
Walmart is another firm that announced in May plans to expand its returnship partnership program with Path Forward to allow more people to take part. The 4-month program offers professional development opportunities, skills training in such areas as product developmentand software engineering, and networking.
Talent professionals can make their companies more inclusive for caregivers, especially for women and parents, through programs that help them into the workforce again.
Experts have said that prior to launching a new program like a return-to-work program and the C-suite, talent professionals should consult with the CFO and ask for their word on the program’s business case.