UniCredit launches pilot staff training project in Italy | Investment News

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MILAN (Reuters) – Italian bank UniCredit said it had launched a pilot project to train staff in Italy to try and boost retention rates, weeks after rival heavyweight Intesa Sanpaolo announced a venture with a private equity firm focused on its learning operations.

UniCredit CEO Andrea Orcel said retention rates were between 30% and 50% higher for companies with a strong learning culture.

“Eighty-six percent of millennials say they would stay in their jobs if training and development were offered by their employers,” said the former UBS banker.

Spurred by the disruption of the pandemic, record numbers of people have quit their jobs in a phenomenon dubbed “The Great Quit”, heightening the challenge of how to retain talented workers.

The UniCredit University Italy program will offer online and in-person courses to staff, with a view to honing existing skills and adding new ones.

UniCredit plans to expand the pilot to other countries in which it operates.

Intesa announced in February a joint venture with Nextalia, the private equity firm founded by former Mediobanca banker Francesco Canzonieri, to outsource its training divisions.

Intesa said it would consolidate its operations dedicated to providing business and personal learning into a newly created company called Digit’ed, controlled by Nextalia.

Intesa, which would own 20% of the new company, said it was signing multi-year agreements for Digit’ed to provide training for bank employees and customers.

(Reporting by Valentina Za; editing by Barbara Lewis)

Copyright 2022 Thomson Reuters.

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