The Client
Fuel50 talked to KeyBank about their programme to upskill employees by creating a growth mindset and empowering employees to take ownership of their learning journey. Dean Kontul and Carole Torres explain the initiative they designed for KeyBank teammates so they can meet the needs of what will be required in new and different jobs in the future.
Amy Brady, CIO of KeyBank says “There will be new roles created that we haven’t even thought of yet. While we don’t know the full impact of AI, machine learning and robotics, as an example, we know there clearly will be a change in how roles are performed and in the skills required both in our technology and operations functions.”
The Cleveland, Ohio-based regional bank created a Future Ready Workforce program, centered around four separate workstreams:
- Defining skills needed now and in the future;
- Creating a “job marketplace”;
- Continual training and learning; and
- Change management and communication
KeyBank wanted to prepare the company and their employees for the future in the light of current disruptions and challenges. They wanted to modernise the bank and update technology and operations with a focus on anticipating changing client needs and investing in capabilities to meet those needs.
Opportunity and Collaboration
Dean Kontul says “Emerging technology, demographic shifts, and other global trends will accelerate change creating enormous opportunities for learning new skills. It is critical that we embrace and leverage the changes and opportunities on the horizon.
McKinsey say that by 2030 up to 30-40% of all workers in developed countries may need to move into new occupations or at least upgrade their skillsets significantly. The future ready enterprise must embrace technology and change so as to become more digital, productive and agile with a growth mentality.
KeyBank approached the programme in a very collaborative way, it was not just HR driven, and the team leading the learning initiative volunteered to take part in ensuring the bank’s culture and leadership were invested in upskilling the workforce. The aim was to equip leaders and managers to coach their teams through change.
Benchmarking Competency
The team did some research and benchmarking around the technical, business and people skills that are defined as the essential skills employees need to develop for the future. For the future ready journey they designed learning for all three skill areas to deliver tailored programmes and coaching for employees.
KeyBank started with change management and followed that with critical thinking and decision making. Resilience and self management are also a key focus as the programme emphasises employee career management – “be the CEO of their career” which and ensures Key will continue to attract and retain talent and deliver on its strategic priorities. KeyBank foresee a major talent shortage in the near future and investing in employee development serves both organisation and employees at all levels.
Continuous learning is a critical enabler of success for the future and an enterprise mindset is key. Career mobility is enabled by their programme and they are committed to providing formal training, mentoring and coaching for all employees using Fuel50’s state of the art, ethical zero-bias AI engine that smart-matches people to learning, gigs, mentors, vacancies, projects, and career journeys.
Measuring Success
KeyBank saw a 60% increase in training participation and usage and more than 750 employees have earned Future Ready badges. Carole says that badging programmes particularly appealed to competitive types!
It is not just about numbers though and KeyBank paid particular attention the stories their teammates tell about their participation in the programme and their success in growing into new roles and moving into new career areas.
Clear and transparent communication is vital to the success of any workforce transformation. KeyBank’s leaders had open conversations with workers about which skills would be most transferable in a future marked by increased automation and the use of cognitive technologies. Kontul says. “30% of the highest-paying jobs of the future will require skills that are uniquely human in nature, like coaching and mentoring, collaboration, communication and leadership.”
Agility and flexibility in the face of uncertainty may be the most crucial skill for employees, leaders and organisations. Fuel50 certainly believe that achieving future-readiness is crucial to the digital transformation process and to becoming an agile organisation.
To learn more about the interventions used and the outcomes of this project, click below.
Read the full story