Our people

Attracting & developing talent

Building a sustainable company is at the core of everything we do. Our employees are our most valuable resource, and one of the most important aspects of responsible growth is attracting and retaining exceptional talent. It starts with how we recruit new teammates to our company, and extends to the many ways we support employees’ professional development, career growth and engagement once they’re here.

Talent Acquisition

Our Global Talent Acquisition team is responsible for filling all roles across the company with the highest quality candidates – both internally and externally – to meet our business needs and help us grow responsibly. To drive sustainable growth in a changing and increasingly competitive job market, we are enhancing our strategy – including modernizing our recruiting processes and tools – as we continue building a diverse workforce and enhancing internal opportunities across the company.

Through recruitment efforts and partnerships, we're attracting some of the best and diverse talent from around the world.

Additionally, we partner with several organizations to provide the skills, knowledge and tools that are helping young people succeed, including upReach. As the first investment bank to support this organization, our partnership supports the progression of applicants from less-advantaged backgrounds into Bank of America. We are supporting upReach’s new Banking and Finance Springboard – a program designed to help 90 students from less-advantaged backgrounds to access career opportunities in financial services. The program includes insight days and skills workshops, application support, interview and assessment center preparation and an online banking course. Our partnership is helping to encourage high quality applications to the financial services sector, including Bank of America, which in turn is increasing the number of students securing jobs.

Our military and veteran recruiting team partners with a variety of organizations and attends job fairs to find talented military service members, military spouses and veterans to join our company. Our military partnership with Degreed launched in late 2016 to support veterans as they transition into the corporate workforce. Since then, more than 2,700 learning items have been accessed and employees have logged 1,300 completions of these resources.

In addition to traditional recruitment channels and partnerships, we’re continually pushing ourselves to innovate: we’re digitizing our processes, making our platforms and tools more accessible via mobile and identifying opportunities to interact with candidates through their preferred channels. A few examples of the recruiting enhancements we’ve launched include:

  • Expanding our campus recruiting processes and tools, like redesigning the campus website and developing a new candidate management system enabled for mobile that allows candidates to view postings, schedule interviews, and interact with recruiters via their personal devices.
  • Hosting interactive webcasts for candidates to provide access to events and workshops with our business leaders and recruiters, regardless of candidates’ geographic location.

Internally, at all levels throughout the company, we’re helping employees move across businesses and roles by enhancing internal mobility to provide employees better visibility and greater cross-functional opportunities.

 Click here for more information about career opportunities with Bank of America.

Personal development

We know how important it is for employees to develop and progress in their careers, and provide a variety of resources to help teammates grow in their current role, build new skills or take on new responsibilities.

It starts when employees first join the company or take on a new role. We’ve updated our onboarding and new hire resources to be more interactive and useful. Additionally, teammates across HR are focused on helping our new hires as well as current employees moving into new roles get started, including through dedicated programs for some of our specialized roles like our Global Banking & Markets (GBAM) and Wholesale Credit analysts, Retail Banking contact centers and Consumer Collections.

Additionally, we know that people learn best in a variety of ways, so we offer a range of learning options, from instructor-led learning and web-based training to eBooks and videos — ensuring our employees can access what they need when they need it to develop skills and expertise to perform better in their jobs and better serve our customers and clients. Our innovative Learning Hub lets employees create personalized learning plans tailored to their roles and interests, and provides access to millions of books, articles, courses and videos. Through the hub, employees can form groups with colleagues to share knowledge and build skills together, as well as learn on their own time with mobile and home access capabilities. To complete required training, our recently updated myLearning tool makes it easier for employees to find and complete courses targeted to the skills they want to develop. In 2018, our employees completed nearly 11 million learning hours – including both required and discretionary learning – to help them be successful in their current roles and prepare themselves for future opportunities.

We also encourage our employees to explore external opportunities for learning. In the U.S., employees can get up to $5,250 in tuition reimbursement per year for college courses related to a current or future role.

Our managers are critical to influencing our company culture and supporting employees in their career development. To drive manager development and help managers build their skills as leaders, we invest in programs that address different components of development, from resources for new managers, to the Manager Excellence program and other ongoing development opportunities. Through our popular Manager Excellence program, senior leaders and industry experts share insights and practical tips on a variety of business relevant topics, including diversity and inclusion efforts. Last year, 86 percent of eligible managers voluntarily participated in some form of manager development – including virtual, digital and live training opportunities. The results speak for themselves: managers who participate have lower direct report turnover, give more recognition rewards to their employees, and have stronger performance and better employee engagement scores than those who don’t.

Career growth

Making it easier for our employees to grow and continue their careers at the company allows us to retain talent and institutional knowledge, driving stability across all we do for customers, clients and each other. We’ve made great progress in helping all employees achieve their personal career goals and better support our customers and clients. In 2014, we developed myCareer — an internal career site that offers enhanced job search capabilities and career planning tools.

When employees are ready to pursue a new role, our myCareer site provides job search capabilities and career planning tools to explore career options, find opportunities that fit individual interests and sign up to receive alerts when new job openings are available.

In addition to myCareer, last year, we helped more than 17,000 employees find new roles within the company with the help of our internal job search and career planning tools, including The Academy and the Career Path Tool in our Consumer & Small Business organization, which help increase focus on skill development, career pathing, and internal movement.

Employee engagement and ongoing listening

We recognize the importance of receiving employee feedback through formal surveys and informal means — and in taking action on the feedback we receive from our teams. It’s the heart of all of our efforts in creating an inclusive workplace.

Many of our programs and efforts were created based on the feedback we receive from our teammates. After each Employee Engagement Survey, the management team, as well as every line of business, reviews the results to evaluate ongoing efforts to improve the employee experience. Employee engagement action teams are formed to gain a deeper understanding of the survey results, prioritize issues and concerns, and develop solutions. These action teams are also a vehicle to gather employee feedback on an ongoing basis, on both the issues and the solutions.

In addition to surveys, employees are encouraged to share their feedback in many other ways – through direct feedback with their managers during performance management discussions, regular employee town hall meetings, line-of-business meetings and Flagscape, our intranet for employees. Through Flagscape, we run a program called “Speak Up!” that encourages all employees to share feedback, ideas, questions, and success stories with management.  In 2018, employees posted more than 13,000 submissions through the tool.

The conversation with our employees about their experience at Bank of America never ends. We’ll continue to learn from their diverse perspectives, and together, we’ll work to make our company an even greater place to work.

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