SAN JOSE, Calif., Feb.
25, 2021 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL)
today announced that it has entered into
multi-year partnerships with CodeHouse, INROADS and
the National Association of Black Accountants to develop and
hire Black and diverse talent. The partnerships are
part of a $535 million
commitment first announced in June that includes
strengthening PayPal's internal Diversity, Inclusion,
Equity and Belonging programs and
supporting the recruitment, hiring and career advancement
of Black and underrepresented employees.
"PayPal's mission to democratize financial services is
inherently inclusive, and not only promotes, but demands diversity
and equity," said Tracy Brown,
global head of talent, PayPal. "Each of these
organizations is dedicated
to creating career pathways for people of
color, and working together, we can build a
pipeline
that sustainably increases recruitment and
retention of underrepresented talent at
PayPal."
Since becoming an independent company in 2015, PayPal
has worked with academic institutions, recruiting
organizations and advocacy groups to attract,
develop and retain diverse talent. These
partnerships will expand PayPal's pipeline of
talent and provide development, mentoring and skill
building opportunities:
- CodeHouse: Founded by two recent Morehouse
graduates, CodeHouse aims to tackle the diversity gap in
the technology industry. As a founding
partner of the CodeHouse Scholars Initiative,
PayPal will provide four-year undergraduate scholarships
to historically Black colleges and
universities; provide technical, professional and
leadership skills to incoming freshman through their Summer
Bridge Program; and participate in their Virtual Tech Exposure
Day with 10,000 high school students of color across the
country.
- INROADS: PayPal will work with INROADS, the
nation's largest nonprofit source of paid internships for diverse,
high performing undergraduate students, to sponsor an internship
program that includes salaried internships with year-round,
comprehensive training, and mentoring and leadership
development.
- National Association of Black Accountants (NABA): For more
than 50 years, NABA has continued to bridge the skills
and opportunities gaps for Black professionals in
the business, accounting and finance industry. PayPal
will expand its existing partnership with the association to create
a student scholarship fund, sponsor a college internship program
and mentor and recruit talent from within the
NABA student membership population.
These efforts are representative of a larger commitment PayPal
has made to further embed the principles of diversity, inclusion,
equity and belonging into the company culture and business. In
addition to these partnerships,
PayPal is strengthening its inclusive hiring
processes by implementing practices that help
mitigate conscious and unconscious biases and blind spots
throughout the hiring process – from the writing of job
descriptions, to reviewing resumes and conducting
interviews.
"As the tech industry moves to diversify its talent
pipeline, there's no better time than now to inspire young
people of color to pursue careers in STEM," said Ernest
Holmes, president and co-founder, CodeHouse. "Through our
partnership with PayPal, we'll be able to enhance our
scholars' existing talent and set them up to succeed in their
careers."
"INROADS is pleased to partner with PayPal in an effort to close
the disparity and opportunity gaps for talented, underrepresented
students," said Forest T. Harper
Jr., president and CEO, INROADS. "When we work together, we
can advance racial equity, creating a new tomorrow where our Black
and diverse students have access to opportunities that create
boundless career pathways for them to become future leaders and
entrepreneurs."
"Every day, NABA strives to provide our members with
the skills, opportunities, and confidence to thrive and advance
their careers," said Guylaine Saint Juste, president
and CEO, NABA. "This partnership serves as a
testament to PayPal's belief in NABA's ability to
develop a pipeline of talented Black business professionals who can
contribute to PayPal's strategic success."
Since June, PayPal has continued to fulfill its $535 million commitment that was designed to
provide immediate assistance to Black-owned businesses, while
setting the foundation for sustained engagement and progress
towards economic equality and social justice. Most recently, PayPal
bolstered its support of Black small business owners by providing
an additional $5 million in
grant funding, as part of its Empowerment Grant Program
launched in June. In fall 2020, PayPal invested $50 million in the Local Initiatives Support
Corporation (LISC) Black Economic Development Fund,
$50 million in Optus Bank, a
Black-owned bank based in South Carolina and $50 million in eight early-stage, Black and
Latinx-led venture capital funds.
About PayPal
PayPal has remained at the forefront of the digital payment
revolution for more than 20 years. By leveraging technology to make
financial services and commerce more convenient, affordable, and
secure, the PayPal platform is empowering more than 375 million
consumers and merchants in more than 200 markets to join and thrive
in the global economy. For more information,
visit paypal.com.
Media Contact:
Janine Kamwene
jkamwene@paypal.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/paypal-partners-with-codehouse-inroads-and-national-association-of-black-accountants-to-mentor-and-recruit-black-and-diverse-talent-301235285.html
SOURCE PayPal Holdings, Inc.