The Institute for Learning (IFL), BMO Financial Group's corporate university, is the most tangible symbol of the organization's commitment to the development of more than 46,500 employees. Nearing its 20th anniversary, the IFL aligns its learning with BMO's evolving strategic agenda, driven by the bank's significant customer and growth aspirations, and the changing global economy. In an environment with heightened business risk and complexity, combined with accelerated change and ambiguity, the IFL's goal of furthering leadership development has never been more critical.
To enable this evolution, the IFL engages leadership in the classroom and the boardroom. By engaging senior executives throughout the design cycle, leaders help shape the content, quality, and direction of programs—which ensures overall alignment and commitment to the organization's strategic priorities. Recognizing the critical impact of leaders' interactions with regulators, a one-day classroom-based program was rolled out recently to equip leaders with the capabilities to build stronger, more open relationships with regulators.
A key component of the IFL's effectiveness is its approach to integrated talent management. All BMO leaders play an essential role in making sure the right people are in the right roles to meet customers' needs. Integrated talent management is fully incorporated into all leadership programs.
"Leaders who demonstrate a talent mindset are crucial to our progress," says Chief Learning Officer Barbara Dirks. "They must inspire our people and create an environment where everyone performs at their best. Through our leadership development programs, they develop the skills and capabilities necessary for success—as individuals and as an organization."
The IFL offers programs and support tools targeted at three levels of leadership: new and first-time leaders, seasoned leaders, and senior leaders. The programs use the same lexicon, theories, models, and practices to ensure a consistent approach to leadership.
"Leaders are equipped with cultural intelligence and development techniques. They're also provided with key leadership capabilities. For instance, differentiating, evaluating, and leveraging diverse skills within a team to create optimum performance," explains Dirks. "It's about looking for every opportunity to develop talent and turn potential into performance."
The curriculum is comprised of three formal development programs, and a variety of informal, self-guided experiences and challenges, each targeted at the experience level of the participant. The programs are cohort-based, span six to nine months, equal 15 to 20 days, and incorporate blended learning, multimedia, social networking, formal and informal learning, on-the-job assignments, leader-led learning, and the adoption of a real business leadership issue to be advanced while in the program.
Participants apply their new capabilities and report progress and insights to their managers or executives. Impact reports are made to colleagues and fellow participants that illustrate the changes that occurred as a result of new learning, and demonstrate improvements to business, customer, and employee measures.
In addition, a web portal supports all three leadership programs by providing tools and resources to enhance development. It includes links to TED Talks and articles focused on leadership topics; BMO-specific webcasts featuring panel discussions led by company executives; and a YouTube channel with videos on techniques, tools, and trends.