Work and Life Effectiveness
BMO has long been recognized for our commitment to creating a more equitable and flexible workplace. With changing demographics and a more multi-generational workforce, flexible work arrangements and programs that assist in accommodating the needs of employees at different life stages have become essential in attracting and retaining talented employees. As an employer of choice, we offer a broad range of programs designed to help employees balance their responsibilities to work, family and community.
BMO has an internal website that provides information on BMO’s principles, practices and supportive policies. The site is designed to help employees make informed decisions about their personal well-being, and can be accessed from home to ensure privacy and convenience. All our supportive practices and policies are outlined on the site.
Below is a list of some of our policies for well-being:
Supportive practices and resources:
- People Care Days: Allows paid time off for personal matters that cannot be scheduled outside of work hours.
- Flexible work arrangements: Provides employees an opportunity to work offsite, work shortened weeks and/or share jobs (see below for examples).
- Taking Care: Offers a free, 24-hour childcare telephone referral service and free eldercare information, counselling and referral service.
- Multi-purpose quiet rooms: Provides a private space for nursing mothers and for activities such as multi-faith prayer and quiet meditation.
- Employee Assistance Program (EAP): The EAP is a third-party provider of support to employees and their families.
Flexible Work Arrangements:
- Flextime: Allows employees to shift the standard workday to begin and end at times that the employee and manager find acceptable.
- A compressed or flexible work week: Enables employees to arrange a variation on the standard work week, by compressing work into fewer, longer days, or stretching work across more days.
- Flexplace, or telecommuting: Enables employees to work outside the office, at another BMO office or a home office.
- Job-sharing: Enables employees to share their job with one or more other permanent employees.
- Contact Centre agents: Contact Centres follow structured scheduling procedures based on customer needs. Contact Centre agents manage schedules through schedule trading and requests.
Leave of Absence Programs:
- People Care Days allows paid time off for personal matters, which cannot be scheduled outside of work hours.
- Compassionate Care Leave supports employees that are providing care or support to ill family members.
- Pregnancy and parental leaves.
- Extended leaves of absence, such as child care or sabbatical leaves.
Benefits for Different Stages of Life
On the first day of employment, employees can choose the options that best meet their needs for the following benefits:
- life and accident insurance for the employee and their spouse and children
- long-term disability
- short-term disability
- health and spending account
- and survivors’ benefits package
Continuous Education Assistance Plan
Lifelong learning is valuable to employees and the organization, so we offer the Continuing Education Assistance Plan (CEAP), a managed personal development benefit. Under CEAP, BMO offers financial support for employees pursuing business-related learning.
BMO offers several ways to help employees prepare for retirement, including basic and optional contributory pension plans. BMO also provides a comprehensive retiree benefits program for all eligible pensioned employees, to meet their health and wellness needs after retirement.
Sir Vincent Meredith Fund
The Sir Vincent Meredith Fund is an employee benevolent fund that helps employees and pensioners in financial hardship.
Occupational Health & Safety
BMO is committed to the health, safety and wellbeing of our employees. We take all reasonable precautions to provide and maintain a healthy and safe workplace and take all reasonable care to ensure the health and safety of our employees, customers, clients and workplace visitors.
BMO’s occupational health and safety program is designed to meet the requirements of the various jurisdictions in which we operate. The program prioritizes prevention and training to keep our workplaces safe.
In addition, all of our workplaces have employee health and safety representatives that help implement and monitor our health and safety procedures.
We have not recorded any work-related fatalities in 2017. We do not track rates of injury or disease. However, 119,725 sick days were recorded by our employees in North America during the 2017 calendar year.