Canadian Imperial Bank of Commerce is managing a shortage of tech workers by training its developers in high-demand technologies including blockchain and Microsoft Azure, betting that such growth opportunities will help the lender retain current workers and attract outside talent.
With tech becoming increasingly important in the finance world, Canada’s banks are seeking to hire more developers, but they’re facing increased competition from startups and other firms. That’s resulting in soaring salaries and rising turnover rates, prompting Royal Bank of Canada Chief Executive Officer David McKay to list the battle for talent as one of his top concerns for this year.
