Bank of Montreal 1997 Annual Report Download - page 15

Bank of Montreal 180th Annual Report 1997 13
Montreal technology specialists
participating in the Education
Program for Software Professionals,
a program focused on building
skills critical to the rapid learning
of new technology applications.
While the IFL serves as the
learning centre for Bank employees
around the world, employee train-
ing activities are conducted in every
part of the Bank’s operations.
Through its distributed learning
programs, recently augmented by
its interactive learning services, the
Bank offers a comprehensive range
of learning and performance support
materials to employees wherever
and whenever they are needed.
Rewarding success
The achievement of our stated busi-
ness objectives is vital to the long-term
success of the Bank, but it requires an
outstanding contribution from every
individual and group within the Bank.
By tying compensation to perfor-
mance, we can ensure that the rising
demands and expectations of our cus-
tomers will continue to be met; our
employees will be rewarded fairly while
helping to build shareholder value.
The Bank’s Variable Pay programs
have developed a series of individual,
group and corporate goals to evaluate
the performance and compensation
of each employee. To earn variable pay
compensation above and beyond
salary all three goals must be met.
The programs are constantly being
refined to reward individual, team and
corporate performance properly and
accurately, and to provide every em-
ployee with tangible incentives to meet
or exceed our customers’ expectations.
Harnessing the management sciences
to build shareholder value.
has made learning an integral part of
our corporate culture. Learning the
ability and willingness to acquire new
skills and knowledge and to adapt to
changing circumstances is the key to
success in a competitive and dynamic
business environment.
Bank of Montreal has invested
heavily in training to give its employees
the opportunities they seek for contin-
uous learning, skills enhancement and
career advancement. In 1997, the Bank
spent more than $65 million to offer
employees an average of 6.6 training
days per person throughout the course
of the year. More than 70% of
this
training occurred outside the tra
di-
tional classroom setting.
The Bank’s Institute for Learning
(IFL) in Toronto, Ontario, offers more
than 70 individual courses in four
major areas: leadership and change;
marketing, sales and service; lend-
ing, corporate finance and capital mar-
kets; and technology. A range of
approaches are employed to meet the
Bank’s learning needs. This year, for
example, two programs in support of
building the core competencies of
the Operations Group were designed
in alliance with external partners.
In alliance with Boston Univer-
sity, the IFL delivered the Project
Manager Professional Development
Program, a course that leads to
professional accreditation from the
Project Management Institute. A
second alliance, with the University
of Waterloo, resulted in Bank of