Wells Fargo | Business Roundtable

Wells Fargo

Timothy J. Sloan

Chief Executive Officer and President

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Summary of Initiative

Wells Fargo’s commitment to building and sustaining a diverse and inclusive culture encompasses veterans with programs and strategic partnerships underway to attract, develop and retain veteran team members.

The Need

Creating an environment where team members feel included, valued and supported is essential to engaging and inspiring them. Engaged team members drive greater customer satisfaction and extraordinary business results. Wells Fargo values the leadership, integrity and service record of military members and veterans and is committed to increasing its veteran team member population to 20,000 by 2020.

The Solution

To achieve this goal, Wells Fargo’s approach includes elements that focus on recruitment, development, engagement and retention.

  • Attracting veterans and enabling their career transition:
    • We launched the ApprenticeshipUSA program in May 2017, which provides veterans the opportunity to earn a salary and leverage GI Bill benefits while learning additional skills necessary to succeed in high-demand civilian careers.
    • We offer a Veteran Employment Transition (VET) Internship program focusing on training veterans transitioning to the  nancial industry.
    • We participate in military career fairs, attending more than 900 events across the country in the past five years.
    • We take part in American Corporate Partners mentorships and in scholarships and emergency grants through Scholarship America.
  • Engaging and developing veteran team members:
    • Our Diverse Leaders Programs include a Veteran Leaders program and provide an opportunity for team members who identify with certain diversity dimensions to feel included, valued and further develop their leadership skills.
    • Our Veterans’ Team Member Network provides team members with personal and professional development, mentoring, networking and community outreach opportunities.

Partnerships and Enabling Public Policies

To source and support veterans transitioning to civilian careers, Wells Fargo has established partnerships with many military organizations, including RecruitMilitary, Veteran Recruiting Services, MBA Veteran, VetReady, Military Spouse Employment Program, Hiring Our Heroes, Military.com, Service Academy Career Conference, Hirepurpose, Student Veterans of America and regional/local partnerships. We have forged a partnership with No Barriers USA, a nonpro t organization empowering youth, veterans and people with disabilities through transformative experiences to break through barriers.

Outcomes/Benefits

Continuing to see positive trends toward our goal, we currently employ more than 8,500 team members who self-identify as veterans. Our veteran hiring rate continues to increase, and we are converting veteran applicants to hired team members nearly twice as often as non-veteran applicants, indicating the attributes that veterans bring align to the qualities sought in Wells Fargo team members. Our Veterans’ Team Member Network boasts more than 5,900 members and 31 active chapters. Describing the experience as powerful and life-changing, our Diverse Leaders Program alumni are more likely to stay and be promoted with Wells Fargo than their non-alumni peers. These programs are helping team members in diverse segments engage and grow as leaders and helping us foster a culture that promotes and celebrates diversity and inclusion.