Bank of Montreal 2004 Annual Report Download - page 17

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BMO Financial Group Annual Report 2004 13
Aligning Structure and Strategy
Enterprise-wide organizational design
and effectiveness are central to BMO’s
goal of improving productivity, opera-
tional efficiency and performance. Over
the past year, our Human Resources
team continued to help our business
leaders minimize layers of management,
eliminate duplication, improve the flow
of work and clarify accountabilities
and reporting relationships. In turn, this
has helped our people do their jobs more
effectively and improved productivity
across our organization.
Making Performance Matter
Much work has been done to ensure
that employee compensation is aligned
with job performance. We have tried
hard to convey the message to all our
people that their individual performance
is fundamental to the way they are
recognized and how they are rewarded.
Leadership in Diversity
At BMO, we believe that one of our great-
est strengths is our steadfast commitment
to workplace diversity and equity. Our
diversity initiatives are developed and
administered by our Office of Diversity
and Workplace Equity, with strategic
direction provided by the CEO’s Council
on the Equitable Workplace. Founded
in 1991, the Council meets quarterly to
review our progress and to advise on
any actions necessary to ensure we reach
our workplace equity goals.
To ensure our continued leadership
in the pursuit of workplace diversity and
equity, we have launched a new initiative
called Above and Beyond with Catalyst,
a leading research and advisory orga-
nization. This study will begin with a
comprehensive analysis identifying the
gaps and successes in meeting diversity
goals. This analysis will be followed
by an in-depth examination of specific
issues causing these gaps, and will
conclude with concrete strategies
that address these issues across the
entire enterprise.
What’s Next?
•Initiate an enterprise-wide
Performance Tracker to measure
our progress in the areas of
financial performance, employee
success and client orientation.
•Promote innovative ways to
transfer skills, knowledge and
practices from our highest achievers
to all employees, with a view
to improving overall performance
and productivity.
•
Initiate practices to better
motivate, develop and reward
our most talented employees.
•Develop an organization-wide
leadership behaviour model
that is based on our values.
2004 Awards Awarded by
Canada’s Top 100 For the third year in a row, BMO Financial Group was named one of the Top 100
Employers Employers in Canada by Maclean’s magazine and Mediacorp. Selected from
among more than 52,000 companies and recognized for our commitment to
employee training, we remain the only major Canadian bank on the list.
Training Top 100 We ranked 16th overall in Training magazine’s Top 100 North American
corporations in 2004. For the third consecutive year, we were the top Canadian
company on the list. BMO was also cited as a 2004 Best Practices Company
in the area of leadership development.
Innovation
Profiles in Diversity Journal recognized BMO Financial Group with an international
in Diversity Innovation in Diversity Award for our commitment to workplace accessibility.
The newly created award recognizes international corporations, organizations
and institutions that have developed innovative solutions in the area of
workforce diversity and inclusion.
YWCA Equity In May 2004, Harris was presented with the YWCA’s Aurora Equity Award,
which recognizes a business or organization that has significantly advanced
the role of women and minorities in the workplace. Harris is the first bank
to receive the award.
Corporate Spirit In May 2004, MicroSkills, a community organization dedicated to assisting
women, visible minorities and new immigrants, awarded BMO Financial Group
its Corporate Spirit Award in recognition of enterprise-wide Human Resources/
People Management Best Practices.
Progressive In February 2004, the Canadian Council for Aboriginal Business honoured
Aboriginal Relations BMO with a Progressive Aboriginal Relations award for initiating Aboriginal
community economic development.