More than 10 financial services companies are among the 50 best employers in Canada for 2010, with Edward Jones in the top 10 for the eighth consecutive year in the annual study by Hewitt Associates.

The study by the global human resources consulting firm is based on survey responses from more than 108,000 Canadian employees at 134 companies, with additional input from over 1,200 leaders and human resources professionals.

Edward Jones Canada ranked in the 10th spot for 2010, earning the highest place among financial services companies on the list.

“Once again we take great pride in being acknowledged by our associates as one of the best employers in Canada,” said Gary Reamey, principal, Edward Jones Canada. “We continue to increase employee engagement by centering our efforts on just one important task: serving long-term, conservative investors.”

Wellington West Holdings Inc. was 11th on the list, marking the fifth consecutive time that the firm has made the list.

“We view this recognition as especially meaningful after the difficult period we as a firm and as shareholders have gone through — as everyone has — in these challenging economic times,” said Charlie Spiring, CEO and founder of Wellington West.

Added Kish Kapoor, president of Wellington West: “Taking a look at the intense pressure of the markets on our firm and on our partners in this past year, and looking at the incredible quality of those companies represented on this year’s list, we are truly honored to be included and to be near the top.”

Two of the country’s big banks made the list, with Scotiabank Group in the 24th spot, and TD Bank Financial Group at 26. Other financial services firms on the list included Co-operators Life Insurance Company, Canadian Western Bank, ATB Financial, Envision Financial and Coast Capital Savings Credit Union, among others.

The study found that average employee engagement across all study participants is higher than it was a year ago, at 69% versus 65%. This is not surprising in an economic downturn, according to Ted Emond, a senior consultant in Hewitt’s Toronto office.

“One of the determinants of engagement is a willingness to remain with one’s current employer, so when there are fewer options, many employees are glad to stay put and hang on to the job they have,” he said.

Organizations that are successful in terms of keeping employees engaged are those that provide support for improving productivity, and have leaders that are trusted and well respected in the organization, the study found. In addition, all firms with high employee engagement have open, transparent, complete and timely two-way communication.

Firms that managed to maintain this engagement through the recession are better positioned for the economic recovery, according to Neil Crawford, national leader of the Hewitt study.

“The 50 organizations that appear on the 2010 list of the Best Employers in Canada faced the same challenges confronting virtually all employers, yet managed to maintain high employee productivity and commitment to organizational success,” said Crawford. “Now that the economy is starting to recover and the demand for talent is heating up again, these employers will be able to retain key people, thanks to their focus on sustaining and improving high employee engagement.”

For a list of the top 50 employers for 2010, click here.

IE