Workplace culture

How mid-size institutions are making a difference for employees and keeping workers engaged during the pandemic.

The company has been experimenting with ways to recruit more women and minorities, including a program to hire professionals who had left banking. But CEO Charlie Scharf’s reference to “a very limited pool of Black talent” for important jobs may make it harder for Wells to meet inclusion goals.

Under fire for saying that the potential pool of talent is "limited," CEO Charlie Scharf issued a memo to employees Wednesday acknowledging that his words reflected his own "unconscious bias" and vowing to improve diversity in the bank's leadership.

With staff scattered between working at home and in the office, management at many institutions has taken steps to revamp intranets and launch employee-only Facebook groups to keep their workforce connected.

More than a dozen institutions made the ranking this year in this asset category range.

Sergio Ermotti joined JPMorgan Chase's Jamie Dimon in expressing concern about the long-term consequences of remote work.

The annual ranking, a collaboration between Credit Union Journal and the Best Companies Group, involves surveying employees and reviewing each institution's workplace policies.

The new order is the strongest move yet by a U.S. bank to require employees to return to the workplace.

A report from the trade group, released Tuesday, follows a June resolution from its board of directors recognizing historic, systemic and institutional racism in the U.S.

Some institutions have long worked to recruit a diverse workforce and address discrimination but these initiatives have taken on greater importance as protests have highlighted racial inequality.