Creating a pipeline of talent and connecting young adults to jobs
As a global employer and one of the nation’s leading financial institutions, Bank of America has a key role to play in supporting the next generation of the workforce. This focus is part of the company’s strategy to strengthen the communities it serves, ultimately creating stronger economies in which to do business. Bank of America’s comprehensive support of workforce development and education, particularly for young people, includes business initiatives to establish employment pathways, financial support to nonprofits, and employee volunteerism around mentoring and teaching better money habits.
“We have an ongoing focus on bringing in high-quality and diverse talent that reflects our customer base and communities. By partnering with Year Up, we’re able to connect with young people from those communities who are ready to start their careers. It made a lot of sense for us.”
– Jennifer Petersen, Senior Vice President, Human Resources
Working with Year Up has allowed Bank of America to gain access to a new pipeline of talent that is local, diverse, and ready to drive company growth – while helping young people connect to skills and resources that can lead to careers. Bank of America has invested more than $2.6 million in Year Up since 2001, and in 2007 Bank of America became an apprenticeship host—giving Year Up students the opportunity get job skills and hands-on experience at Bank of America.
- Develops a strong pipeline of local talent
- Increases workforce diversity
- Builds reputation as a community employer
- Expands capacity to deliver on business goals
- Creates opportunity for Bank of America employees to serve as trainers and mentors
- Empowers local young adults with job skills that translate to across sectors and jobs
- Gives students a chance to earn while they learn, helping students meet their financial goals
- Creates a clear pathway for young adults to get the training they need to enter the workforce, with support along the way
Working together to match students with opportunity
Bank of America hosts Year Up participants for six-month internships in IT and Financial Operations. Interns arrive with fundamental professional and technical skills acquired through six months of intensive training in the classroom, provided by Year Up. These internships provide an opportunity for young adults to take the skills they learned in the classroom to the next level and prepare for entry-level positions in the professional world. For Bank of America, they provide an opportunity to gain access to and assess potential new pipeline of talent from the communities where they work.
High-Quality, Diverse Talent
Bank of America recognizes that a diverse workforce is critical in serving a diverse customer base. Year Up helps Bank of America connect to and invest in qualified, diverse talent from the local communities that it serves. Young adults come to their internships with many of the key qualities sought in bank employees: motivation, persistence, a positive outlook, ability to learn quickly, a commitment to high-quality work, and willingness to take on challenges. With these highly transferrable qualities, Year Up interns are assets to a wide variety of departments throughout the bank. The demonstrated success of the partnership has spurred its growth, from one city in 2007 to seven cities and 50 interns annually in 2013.
Meet Year Up Alumni Building their Careers at Bank Of America
Shanara credits the dual assistance she received from Year Up and Bank of America for helping her start a career, not just find a job.
“I see myself growing with Bank of America and expect to start school in the spring.”