Staffing and Selection

Bank of America is a corporation that employs over 175,000 associates that provide financial products, services, ideas, and solutions to customers in the United States. The Global Corporate and Investment Banking group (GCIB) has offices in 35 countries serving clients in more then 150 countries, with associates in all of the Americas, Europe, and Asia (Anonymous, 2004). Choosing the most qualified individual may seem like a daunting task. Bank of America’s policies and procedures for hiring associates provide a solid foundation for acquiring the best talent. With standard policies for interviewing, all individuals are subject to the same questioning. There is diversity within large number of associates the bank employs. Globalization in the business world is a necessity and corporations must increase the sensitivity levels when attempting to recruit new talent. When attempting to acquire new talent, Bank of America encompasses a wide range of staffing practices and selection tools. In response to diversity and technology trends, Bank of America’s staffing practices are effective in meeting current and future employment needs of the organization.

Bank of America’s multicultural supplier and development program began in 1990. The program increased the amount of quality products and services the bank obtains directly from businesses owned by minorities, women, and veterans with disabilities. Helping diverse businesses grow through contracting opportunities and bank products allows Bank of America to grow at the same time. Within the bank, new computer-based diversity training Bank of America’s staffing department works closely with various state and local agencies to provide people with disabilities equal access to the company’s may employment opportunities. Dozens of agencies within the community that handle an applicant pool of individuals with disabilities receive a listings of open positions and job postings from Bank of America. The personnel department developed relationships with certain organizations that provide vocational services that cater to individuals with disabilities. Companies like Bridges, Toolworks, and Easter seals all maintain a healthy relationship with Bank of America in order to develop ongoing relationships that assist in the hiring of individuals with disabilities. Departments within the bank such as University Relations and Corporate Disability work together to ensure that internships are available to students with disabilities (Outreach and Recruitment, 2004).

With several different accomplishments under its belt, Bank of America recognizes the importance of maintaining a strong position with diversity. By the end of 2004 more then 20,000 associates took part in new computer-based diversity training. The Diversity Advisory Council added several senior leaders to its membership, gaining new perspectives and inspiration in selecting and retaining talent. The bank participated in thirteen diversity conferences with an aim to attract and recruit new senior level associates to the organization. The banks affinity groups, which are associates groups that come together on a shared mission, worked on a new structure for 2005. The groups consist of the Asian American Leadership Network, the Black Professionals Group, the Disabilities Affinity Group and LEAD (Leadership/Education/Advocacy/Development) for women (Anonymous, 2004).

The Assessment Team within Bank of America works closely with the Personnel Managers, Staffing Managers, Staffing Teams, and business partners to reach mutually beneficial solutions regarding assessments. The Assessment Team also partners with other areas such as Training, Leadership Development, Compensations, and Compliance to ensure consistency in practices and processes. The primary role of the Assessment Team is to develop, validate, and implement the bank’s selection systems. The team evaluates assessment tools and practices on an on-going basis whenever roles change. The Assessment Team provides the expert support and guidance needed to ensure the accurate and effective use of these selection tools.

The next trend that Bank of America follows in staffing and selecting new talent is technology. The influence of technology is apparent everywhere one looks. From the way one communicates, to the way individuals now conduct business transactions, technology influences all aspects of life. Bank of America recognizes these new changes and makes a solid effort in using technological tools in selecting new associates. With an endless amount of online resources, managers and recruiters turn to the bank’s local intranet system for information.