Bank becomes latest company to join coalition to create one
million family –sustaining careers over the next 10 years
Wells Fargo & Company (NYSE: WFC) today announced support
for OneTen, a coalition that brings U.S. companies together to
improve hiring, retention, upskilling and advancement of Black and
African American talent by creating one million family-sustaining
careers over the next 10 years and fostering more diverse and
inclusive corporate cultures.
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the full release here:
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Male Wells Fargo employee shaking hands
with another male in front of a teller line. (Photo: Wells
Fargo)
“As we continue to drive change at Wells Fargo, we are excited
to join the OneTen coalition, which can play a significant role in
our efforts to advance diversity, equity and inclusion at the
company and in the communities we serve,” said Kleber Santos, Head
of Diverse Segments, Representation and Inclusion at Wells Fargo.
“We are looking forward to working with OneTen to find ways to
alleviate some of the barriers that hinder advancement.”
OneTen is a coalition “committed to ensuring that Black and
African American talent with the skills and aptitude to earn
success also have the opportunity to achieve success.” OneTen’s
mission aligns with commitments set by Wells Fargo to create a more
diverse, inclusive and equitable workforce at the company. These
commitments include:
- Increasing recruiting staff for outreach to diverse
communities
- Partnering with senior leaders to enhance focus on recruiting,
promotion and development programs for diverse talent
- Expanding participation in national diversity events, along
with a commitment to potentially interview and hire on the
spot
- Requiring senior leaders to identify and engage with external
diversity-focused organizations related to their line of business
or function
- Increasing focus on skills-based hiring
- Factoring DE&I metrics into senior leader compensation
Established in December of 2020 by leading executives, OneTen
works with coalition members on a skills-based approach to both
source talent for open roles and upskill / promote existing talent
within company organizations. OneTen encourages companies to
identify roles that pay a living wage, have a low risk of being
automated, do not require a four-year degree, and focus on the
applicant’s skill set, demonstrated experience, and ability to
execute the role.
“We are thrilled to have Wells Fargo join the OneTen coalition
and embrace our mission to catalyze opportunities for Black talent
to grow the United States economy, specifically in the financial
services sector,” said Maurice Jones, Chief Executive Officer of
OneTen. “At OneTen, we believe that connecting Black talent with
family-sustaining careers will transform the prospects of those
families, companies and the American project. We look forward to
working closely with Wells Fargo to achieve our common goals.”
Wells Fargo, now one of nearly 50 companies that are part of the
OneTen coalition, will begin the onboarding process that includes
determining the number of jobs, geographic locations, new hires and
promotions the company will target as part of the commitment.
OneTen matches its coalition members with talent developers that
will align their working groups to help source candidates for
positions. Wells Fargo also will participate in quarterly Community
of Practice gatherings that bring the leadership of coalition
companies together to inspire and share information and best
practices as each works to achieve goals of this commitment.
“Joining this coalition gives Wells Fargo another great resource
and partner to reach diversity and inclusion goals in our
workforce,” said Carly Sanchez, Head of Talent Acquisition, Wells
Fargo. “OneTen brings a unique approach to sourcing talent and we
are looking forward to working with the team to expand employment
opportunities and identify a broader pool of talented candidates
who are a great match for Wells Fargo positions.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial
services company that has approximately $1.9 trillion in assets and
proudly serves one in three U.S. households and more than 10% of
all middle market companies and small businesses in the U.S. We
provide a diversified set of banking, investment and mortgage
products and services, as well as consumer and commercial finance,
through our four reportable operating segments: Consumer Banking
and Lending, Commercial Banking, Corporate and Investment Banking,
and Wealth & Investment Management. Wells Fargo ranked No. 30
on Fortune’s 2020 rankings of America’s largest corporations. In
the communities we serve, the company focuses its social impact on
building a sustainable, inclusive future for all by supporting
housing affordability, small business growth, financial health and
a low-carbon economy. News, insights and perspectives from Wells
Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo.
Cautionary Statement about Forward-Looking Statements
This news release contains forward-looking statements about our
future financial performance and business. Because forward-looking
statements are based on our current expectations and assumptions
regarding the future, they are subject to inherent risks and
uncertainties. Do not unduly rely on forward-looking statements as
actual results could differ materially from expectations.
Forward-looking statements speak only as of the date made, and we
do not undertake to update them to reflect changes or events that
occur after that date. For information about factors that could
cause actual results to differ materially from our expectations,
refer to our reports filed with the Securities and Exchange
Commission, including the “Forward-Looking Statements” discussion
in Wells Fargo’s most recent Quarterly Report on Form 10-Q as well
as to Wells Fargo’s other reports filed with the Securities and
Exchange Commission, including the discussion under “Risk Factors”
in our Annual Report on Form 10-K for the year ended December 31,
2018, available on its website at www.sec.gov.
About OneTen
OneTen is a coalition of leading chief executives and their
companies who are coming together to upskill, hire and promote one
million Black individuals over the next 10 years who do not yet
have a four-year degree into family-sustaining jobs with
opportunities for advancement. We connect employers with talent
partners, leading non-profits and other skill-credentialing
organizations who support the development of diverse talent. By
creating more equitable and inclusive workforces, we believe we can
reach our full potential as a nation of united citizens. Member
corporations include Accenture, ADP, Allstate, American Express,
Amgen, Aon, AT&T, Bain & Company, Bank of America,
Berkshire Hathaway Inc., Cargill, Caterpillar, Cisco, Cleveland
Clinic, Comcast, Deloitte , Delta Air Lines, Eli Lilly , General
Motors, Gilead Sciences, HP Inc., Humana, IBM, Illinois Tool Works,
Intermountain Healthcare, Johnson & Johnson, Lowe’s, Medtronic,
Memorial Sloan Kettering Cancer Center, Merck, Nike, Nordstrom,
Northrop Grumman, Pepsico, Roper Technologies, Stryker, Synchrony
Financial Target, Trane Technologies, Verizon, Walmart, Wells
Fargo, Whirlpool Corporation, and Yum! Brands. Join us at
OneTen.org.
News Release Category: WF-DI
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version on businesswire.com: https://www.businesswire.com/news/home/20210510005783/en/
Media Veronica Clemons, 704-288-8429
veronica.c.clemons@wellsfargo.com
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