FINANCIAL SERVICES Bank of America Corp.
Bank of America CORP. recognizes that the diversity of its employees and an inclusive workspace are the keys to meeting the needs of customers and clients, and it has put the ethic into action.
“Employees are valued for who they are and what they offer,” said Bank of America CEO Brian Moynihan, also chairman of the company’s Global Diversity & Inclusion Council, which works with bank leaders to develop diverse teams within the company.
“Together, we are a company that recognizes the potential of every employee by actively encouraging a diverse and inclusive workplace – in thought, style, sexual orientation, gender, gender identity, race, ethnicity, culture, age, ability and experience,” said Trevor Koenig, communications executive. “This commitment helps make Bank of America a great place to work, where every employee is welcomed and given the support to build careers where they can make a difference and contribute to the responsible growth of our business.”
In June, Bank of America’s consumer and small-business division announced its goal to hire 10,000 people from low- and moderate-income neighborhoods in the next five years, utilizing its Pathways program and nonprofit partners for professional-skills training. Candidates in the program will be prepared to become successful employees at Bank of America.
“We hope to build a pipeline of local talent to connect to sustainable jobs,” said Koenig. “Some partners, such as Year Up and UnidosUS, empower career-ready individuals to gain an entry point to full-time employment. Others, [such as] Boys & Girls Clubs of America and Urban Alliance, provide opportunities for younger individuals to gain valuable career skills. The bank supports these partners in recruiting candidates for the Pathways program, which provides an onboarding plan, skills and training, and a roadmap to full-time employment and future opportunities.”
Bank of America’s Employee Network program offers employees a variety of employee resource groups where they can connect, develop leadership skills and build community ties.
“It’s created great employee morale,” said Sean Dagesse, senior vice president, Rhode Island market manager, enterprise business and community engagement.
Bank of America resource groups include the Black Professional Group; Asian Leadership Network; Disability Advocacy Network; Hispanic/Latino Organization for Leadership & Advancement; Inter-Generational Employee Network; Leadership, Education, Advocacy & Development for Women; Lesbian, Gay, Bisexual & Transgender Pride; Military Support & Assistance Group; Parents & Caregivers Network; Multicultural Leadership Network; and the Native American Professional Network.
In the company’s Diverse Leader Sponsorship Program, senior leaders work to recognize and promote the visibility of diverse talent, assigning each participant a senior leader sponsor to accelerate the employee’s visibility and development over a 10-month period.
Bank of America also offers comprehensive domestic-partner benefits and incorporates sexual orientation into their nondiscrimination policies.
“In 2016, we established an LGBT Executive Leadership Council, made up of our LGBT executives across the world, and focused on the development, retention and recruitment of diverse executive talent and giving LGBT leaders and employees a respected voice in the company and community,” said Koenig.” In 2017, the LGBT Executive Leadership Council launched an annual development program to align LGBT executives with LGBT protégés.
The company also partners with national agencies to provide equal-employment opportunities to people with disabilities.
“We offer specific support to our employees with disabilities,” said Koeing. “We have staffing teammates dedicated to disability hiring, who partner with external disability organizations to help get referrals into our pipeline. We partner with national agencies and local community-based organizations to provide people with disabilities equal access to employment opportunities.
“We make financial lives better through the power of every connection, and these connections are strengthened when we can bring broader perspectives to meet the diverse needs of our customers, clients and communities in more than 35 countries around the world,” Koenig said.
