CIBC announced today it is partnering with ChildrenFirst to pilot an on-site backup child care centre at its world headquarters in downtown Toronto.

The downtown centre, operated by ChildrenFirst will be exclusive to CIBC employees. The centre will be open by late 2002.

The centre will make backup child care is available to employees with children aged 3 months to 12 years when there is a planned or sudden breakdown of their regular child care arrangements. In addition to helping to address the shortage of quality backup child care, CIBC expects that this employee service will enhance employee morale, recruitment, retention and productivity.

“We expect to be the first bank in Canada to offer centre-based backup child care,” said John Hunkin, chairman and CEO of CIBC. “From our experiences with a similar centre serving our New York employees, we’ve found this service helps employees balance the competing demands of work and family when they need help the most. This new investment in our employees further strengthens our commitment to be an employer of choice.”