Banking on Skills: Cara Collective and BMO Bank Partner for Change

As employers know, finding the right employee for a role can be difficult even during the best of times. Meanwhile, many workers with the right experience are locked out entirely because they lack the prescribed degrees or traditional academic credentials. Skills-based talent development brings these two together, benefiting both job seekers and organizations.Framing talent development around defined skills, rather than only degrees, can reduce disparities in career opportunities while increasing productivity and agility in business operations. Forward-looking organizations — for-profit, nonprofit, and public — are increasingly adopting practices that are characteristic of this approach, such as: defining job qualifications by skills and knowledge, sourcing candidates beyond customary channels, eliminating biases in hiring and selection, and maintaining a culture that reflects an organization-wide commitment to inclusion, job quality, and mobility.So what does it take for a business to walk the talk in skills-based talent development? It takes collaboration, internal systems change, and commitment to equity. BMO Bank partnered with Cara Collective, a comprehensive workforce development nonprofit, to get qualified talent through the door and on the path to economic mobility.In this event — hosted by the Aspen Institute Economic Opportunities Program on September 26, 2025 — we hear their story and learn practical tips for removing barriers to opportunity for workers. Our speakers include Liana Bran (Cara Plus), LaKeita Burns (BMO Bank), Paris Roney (BMO Bank), and Dee Wallace (The Aspen Institute).For more information about this event, including a transcript, speaker bios, and additional resources, visit our event page.For highlights from this discussion, subscribe to our YouTube channel.Or subscribe to our podcast to listen on the go.This event draws on insights from our Workforce Leadership Academies.