Bank of America Issues 2020 Human Capital Management Report
16 Ottobre 2020 - 3:14PM
Business Wire
Company Releases Second Annual Report; Details
Progress Across Diversity, Benefits and Employee Engagement Amid
Global Health Crisis
Bank of America today published its 2020 Human Capital
Management Report, which provides the latest information and
progress against its continued focus to be a great place to work
for its more than 200,000 teammates around the world.
Building on the company’s inaugural Human Capital Management
report last year, the 2020 report details the many programs and
resources, as well as supporting data, across Bank of America’s
primary focus areas including: being a diverse and inclusive
workplace; attracting and retaining exceptional talent; providing
holistic benefits supporting teammates’ physical, emotional and
financial wellness; and recognizing and rewarding performance.
“Since our initial report, we have taken extensive steps to care
for the health and safety of our teammates during the unprecedented
health crisis, including expanding and enhancing employee benefits
and resources,” said CEO Brian Moynihan. “We have also built on
work we have had underway throughout our company’s history to
ensure a diverse and inclusive workplace, and have seen increases
in diverse representation in nearly every area.”
In addition, Bank of America continues to share metrics on
diverse representation across the company, a practice the bank has
had in place for many years prior to last year’s inaugural report.
Specific highlights of what’s new this year include:
- Additional disclosures related to Black/African American and
Hispanic/Latino representation throughout the report.
- Increases in the representation of women and people of color in
nearly every category across the company since 2018 (the exception
being women in the top three levels of our company, which remains
at 41%).
- One of the most diverse classes of campus new hires ever – 45%
women, 13% Black/African American and 14% Hispanic/Latino.
- Progress in lines of business, including wealth management,
which has seen increases in the percentage of women, people of
color, Black/African American and Hispanic/Latino employees.
“Our focus on being a great place to work has never been more
important. While our teammates are focused on supporting our
clients and communities, we’re focused on supporting them and their
families, making sure they can be their best both at work and at
home,” said Chief Human Resources Officer Sheri Bronstein.
New to this year’s report, Bank of America has detailed expanded
support and benefits to help employees navigate the ongoing health
crisis, and long-term commitments to advance racial equality and
economic opportunity for all, including:
- Supporting employee health and safety, including
providing no-cost coronavirus testing; no-cost virtual general
medicine and behavioral health consults; mental health resources;
and additional support for teammates who continue to work in the
office, such as transportation and meal subsidies.
- Launching innovative solutions to support teammates with
child care needs, including providing over 1.7 million days of
backup child and adult care and an investment of over $200 million
in child and adult care reimbursements through September 2020.
- Delivering for our clients by providing advice, guidance
and access to all our capabilities to help clients meet their
financial needs, as well as by delivering critical financial
relief.
- Helping our teammates to have conversations about racial,
social and economic injustices, with more than 165,000
employees participating in courageous conversations in the first
half of the year alone.
- Making a four-year, $1 billion commitment to advance
work underway to address critical issues for people and communities
of color, including health care, jobs, small businesses and
housing.
These highlights are in addition to the actions Bank of America
takes each year, including equal pay for equal work; support for
new parents; personalized support for major life events (including
connecting employees to resources, benefits and counseling) from
Life Events Services, the company’s internal, highly-specialized
group; and confidential counseling through its Employee Assistance
Program to help manage the stress and broader emotional impacts of
events and uncertainty.
Learn more about our progress in the full report.
Bank of America Bank of America is one of the world’s leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
66 million consumer and small business clients with approximately
4,300 retail financial centers, including approximately 2,900
lending centers, 2,500 financial centers with a Consumer Investment
Financial Solutions Advisor and approximately 2,300 business
centers; approximately 17,000 ATMs; and award-winning digital
banking with approximately 39 million active users, including
approximately 31 million mobile users. Bank of America is a global
leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to
approximately 3 million small business households through a suite
of innovative, easy-to-use online products and services. The
company serves clients through operations across the United States,
its territories and approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock
Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
www.bankofamerica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20201016005422/en/
Reporters May Contact: Liz Wright, Bank of America Phone:
1.646.855.3302 elizabeth.i.wright@bofa.com
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