CIBC PUTS CAREER DEVELOPMENT FIRST
When Lin lin Wang applied for a job as a customer service representative at CIBC, one of the first things they asked about was her career goals. “I said it was to become a financial adviser,” Wang says. “I was told it would take about five years. But I got so much support from my manager that I got there within three-and-ahalf.”
Wang’s success was noteworthy given she had no experience in financial services when she applied. But it was the training and support CIBC provided from the day she was hired that helped her fast track her goals — and achieve a ranking among the bank’s top 10 per cent of financial advisers nationally, she says.
As Wang moved up the ranks, each new position offered online and classroom training that blended group work, independent study and on-the-job experience. For financial advisers like Wang, CIBC focuses its training on five key topics: client and portfolio management; credit planning and management; investment and retirement planning; cash management; and wealth protection.
As in any strong, successful organization, training is only one part of an employee’s learning at CIBC. Ongoing coaching to sustain and support skills and knowledge is also key to success.
As Wang ’s career progresses, she says her manager and the CIBC team play an invaluable role in her advancement. “They provide guidance, motivate me, encourage me, and help me to track my progress toward my goals. We work together as one team to demonstrate CIBC value.”
Anyone in recruitment will tell you that Wang’ s story is the new norm for forwardthinking employers. That’s because today’s candidates are no longer focused just on wages and benefits, but what employers offer in terms of training, career development and opportunities to advance.
“We understand that candidates have options and it’s a competitive marketplace,” says Mike Stevenson, senior vicepresident, British Columbia and Northern Territories, CIBC Retail Distribution in Vancouver. “The reality is, they still want competitive compensation and benefits — but that’s just the entry ticket to the game. They are also looking for a place where they can grow and flourish in their careers and work in jobs that have a meaningful impact.”
Inresponse, organizations need to offer professional support networks, training programs and collaboration technology to enable candidates to achieve successful careers, he says. “We need to ensure we can deliver on that.”
The most compelling part for potential candidates is that CIBC’s programs are tailored to the employee’s needs and aspirations, Stevenson adds. “The plan very much depends on the individual. That’s the nice thing about being in an organization as diverse as ours. If you prefer a linear path to your end goal, that can be done. But if you want to gain broader experience in training, sales, leadership, human resources, mobile banking services or other areas, we can offer that as well. Or if you want to gain experience in different locations across Canada, we can offer that too.”
From day one, each employee is encouraged to develop and maintain a development plan; ongoing coaching is provided to help the individual meet their goals, and progress is formally reviewed during the performance year. CIBC also offers employees both internal courses and financial support where appropriate for formal education needs. “It’s not just about building the skills for their current role; there is always a conversation around what skills are required for their next role. It’s vital that the employee stays motivated.”
Beyond orientation and training, employees get coaching and support from their managers and leaders to ensure they succeed in their roles and stay on track to achieve their long-term goals. Employees at all levels can consult the work of inhouse industry- leading subject matter experts and access opportunities for external learning and development. Remote support through telephone or video conferencing is also available. “Giving people access to information they need is essential for employees today,” Stevenson says.
CI BC employees are encouraged to be ambassadors for the company and to play an active role in building a strong team. Individuals are rewarded for seeking out and referring successful candidates. “I would say one-third of all employees we hire into senior sales roles come from existing employee referrals,” Stevenson notes.
The best part, Stevenson says, is there is no shortage in the depth and breadth of career options throughout the organization. “All the employee needs to show is a passion for the job. Our job is to help them understand their goals and continue to follow up on those conversations. It’s not just when they start working here. It’s ongoing.”
As a person who is on that journey, Wang says she is thrilled with her job as a senior financial adviser. “It is so satisfying to help clients reach their goals and see their net worth increase every year. Knowing that I am earning their trust and building their financial future adds value to my life. It means I am much happier every time I come to work.”