Bank of Montreal 2000 Annual Report Download - page 16

12 ■Bank of Montreal Group of Companies Annual Review 2000
Getting it Right with Our Employees
People are the face —and the foundation —of our organization. Innovative and
competitive products and services are essential. But it is our employees —through
the high quality of their service and the expert financial advice they offer
—
who are most responsible for building the lasting customer relationships upon
which our success depends.
Clearly, to “get it right” with our
customers —and our shareholders —
we must first “get it right” with our
employees. At the Bank of Montreal
Group of Companies, we spent
a lot of time endeavouring to do
exactly that in 2000.
A primary goal was to create
a workplace that fosters diversity,
creativity and innovation.
Developing both an equitable
workplace and a workforce that
reflects the diversity of the commu-
nities in which we do business are
objectives we take seriously across
the enterprise. Our programs for
Aboriginal people and people with
disabilities are strongly focused in
the areas of recruitment and retention.
And according to the Canadian
Bankers Association, we are leading
all of our competitors in the
representation of women and visible
minorities in senior management.
Our own data show that the propor-
tion of women executives at the
Bank has grown from 9.5% in 1992
to 32.8% in 2000, tracking well
towards gender parity.
Making sure that our people have
the knowledge and skills they need
to succeed is another important way
in which we are working to “get
it right” with employees. Last year,
the Bank invested $62 million in
employee development.
We continued, in partnership
with Dalhousie University and the
Institute of Canadian Bankers, to
offer our high-potential managers
the opportunity to earn an MBA in
financial services. We currently
have 142 students enrolled in four
MBA classes, along with 33 graduates
from the class of 1999. Emphasis
has also been placed on marketing,
sales and risk management training,
along with a plan to upgrade the
level of e-literacy.
During the past year, 1,500
managers and executives participated
in the Managerial Leadership
Program at the Bank’s Institute for
Learning in Toronto. The week-long
programisdesignedtoaccelerate
development of new managers as well
as experienced leaders. In 2001, we
will continue to focus on developing
superior people management skills.
We will introduce two new programs,
delivered both electronically and
in the classroom, to supplement the
learning needs of employees at all
levels of our organization.
Such initiatives foster positive
results. Saratoga Institute Canada
recently reported that annual
voluntary employee turnover within
the country’s financial industry
averaged 11%, which is significantly
higher than Bank of Montreal’s 7%
turnover rate. Meanwhile, our own
Annual Employee Survey indicated
that employee commitment increased
by 11% in 2000.
This is good news —and a clear
indication that, at Bank of Montreal,
we are indeed “getting it right”
with our employees.
Helping Our Employees Help
Their Communities
Last year, our employees contributed
$3.2 million – up from $2 million in
1999 – to the Fountain of Hope, a
national charitable foundation funded
and managed by Bank of Montreal
employees and retirees. We believe that
by covering the administrative costs
of this organization, we send a clear
message that we greatly value our
employees and the contribution they
make to their communities.
Annual Review
[bmo.com/careers]