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Chapter

COMMERCE 1B03 Chapter Notes -Successfactors, Canadian Imperial Bank Of Commerce, Management Development


Department
Commerce
Course Code
COMMERCE 1B03
Professor
Rita Cossa

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COMMERCE 1E03
Professor Rita Cossa
Tutorial 17
Group Number 172
March 18, 2013
Group Report
Surname Name Student Number E-Mail
Assaf-Costabile Roberta 1205089 assafcr@mcmaster.ca
Del Sordo Christina 1218219 delsorcn@mcmaster.ca
Dobrov Dmitri 1201714 dobrod@mcmaster.ca
McLeod Tristan 1218583 mcleodtj@mcmaster.ca
Prebianca Connor 1155946 prebiacl@mcmaster.ca
Contents
Introduction.................................................................................................................................................. 1
Functional Area and Topic............................................................................................................................ 1
Current Research on the Topic.................................................................................................................... 2
Conclusion................................................................................................................................................... 2
Appendix A – Increase in CIBC’s Training and Development Budget Between 2010 and 2011...................3
Notes........................................................................................................................................................... 4
Bibliography................................................................................................................................................. 6
Secondary Sources......................................................................................................................... 6

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Introduction
The purpose of this report is to research and analyze a specific topic within one of the functional
areas of business. The Club of Hamilton has therefore chosen the topic of management training and
development, which falls under the functional business area of Human Resources (HR), as its primary
topic. Using a variety of secondary sources, this report describes the implications of management training
and development, and highlights how the assigned company, the Canadian Imperial Bank of Commerce
(CIBC), applies it. In addition to its application CIBC, the topic’s impact on the bank is discussed. Finally,
current industry views and applications concerning the topic are presented.
Functional Area and Topic
The functional area of business chosen by the Club of Hamilton for this report is HR and the topic that will
be further analysed is management training and development. Human Resource Management (HRM) is
the achievement of organizational goals through the procedure of recruitment, selecting, developing,
motivation, evaluating, compensating and scheduling employees.1 Companies incorporate HRM as well
as management training and development in their business practices.2 When development and training
are reinforced, employees have a greater potential of becoming professionals that fulfill roles that
contribute to the organization’s success as well as the individual’s satisfaction.3 In order to accomplish
company objectives, management training and development are being used more often in modern day
business.4
In adhering to its mission statement, CIBC is devoted to helping its employees and managers
excel in achieving personal and business goals. CIBC showed their commitment to its mission by
increasing investments in training and development to C$58 million in 2011, up from C$56 million in
2010.5 Based on The Club of Hamilton’s calculations, which is provided in Appendix A, this marks an
increase of 3.57% from the previous year.6 With this investment, CIBC expanded its existing training
initiatives, such as its Leadership Development Program, which aims at enhancing the strengths and
skills of its global management team.7 The company has also expanded its People Manager Essentials
Program, which is continuously developing its managers’ leadership and communication skills in order for
them to improve their employees’ performance.8 Finally, in its ongoing commitment to training and
development, CIBC created a Talent Management team to “find, develop and retain [its] next generation
of leaders”.9
CIBC’s HR department has created a meaningful vision and strategy that employees can strive to
achieve. However, for the company to achieve success and become a leader in their field, there is no
question that proper management development is essential.
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