CIBC Student Thought Forum Case Competition
CIBC myFuture (First Place)
Overview
CIBC Technology Co-Op Program hosts a quarterly case competition known as the “Student Thought Forum.” During this time, student interns across the Bank are placed into small groups with the goal of resolving a struggle the Bank is experiencing.
Our team created & designed “CIBC myFuture”, a system that connects millennials with professionals to receive mentorship and support throughout their internship.
Employee Pain Point
University/College student interns are having difficulties with regards to acquiring return offers and transitioning into full-time roles. This results in CIBC losing top-talent interns to competitors and HR having to spend time & resources to on-board new candidates.
Solution
Introducing CIBC “myFuture.”
CIBC myFuture is a mentorship portal that aims to connect student interns with seasoned professionals within different lines of businesses across the bank.
This is a volunteer-opportunity for mentors to assist student interns by fostering professional networking, ensuring professional growth and ultimately assisting student interns to receive a return offer before their current contract is over.
Process
After receiving the necessary approvals and completing a series of HR training modules, successful mentors will be accessible for interns to contact via the CIBC myFuture portal found on CIBC’s Employee Landing Page (CIBC Today).
From there, mentors and pupils will arrange to meet in person to identify and work towards a path that will continue their career at CIBC.
Result
If student interns are returning to school, myFuture aims towards having student interns return for another co-op opportunity.
If student interns are graduating, myFuture aims towards having student interns transition into a full-time employee role.
By doing so, myFuture increases the bank’s eNPS (Employee Net Promoter Score) and continues to build CIBC’s relationship oriented bank for both clients and employees.
Benefits for CIBC
+ CIBC is able to retain top-talent employees who have existing working experience in many different lines of businesses
+ Employees are able to bring their previous knowledge and experience to add value to a different team
+ CIBC’s Human Resources is able to save on on-boarding expenses; returning student interns will no longer be required to complete mandatory training modules (CMTT)
+ Expenses that would have normally been used for recruiting and on-boarding can now be allocated to the development & sustainability of the program
+ Fosters a sense of community within CIBC resulting in an increase in eNPS
Benefits for Interns
+ Students will be expanding their Professional networks through introductions made by their mentors
+ When students return to school, they are able to focus on their studies as they don’t need to spend time searching for employment if they have a return-offer lined up
+ Students are able to continue to grow their careers at CIBC and exit University / College with a wealth of experience within the Banking Industry
Benefits for Mentors
+ myFuture acts as a means for Mentors to contribute towards the community
+ Mentors are able to develop / strengthen their “People Management” skills to further their own careers
+ Mentors will receive a sense of fulfillment on the job when they are able to assist interns with achieving professional growth
myFuture
Your Future
Our Future.