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2022 Diversity, Equity + Inclusion Honoree: Team of the Year

 

BANK OF AMERICA

Bank of America’s long-standing commitment to diversity starts at the top with its board of directors and CEO. The management team sets the Diversity & Inclusion goals of the company. Each management team member has action-oriented diversity goals that are subject to quarterly business review process, used as part of talent planning and included in scorecards reviewed by the board of directors. Bank of America has built robust analytics and put processes in place at all levels of the company to drive DEI progress and accountability.

Bank of America recently announced important steps forward in its management team for the company – adding five new members, including three women, to the senior management team, further strengthening diversity at the most senior levels of the company. All told, the management team is more diverse of gender, race and ethnicity than ever before in the bank’s history.

Bank of America’s Global Diversity & Inclusion Council (GDIC) which is led by its CEO, promotes diversity goal setting, which is embedded in the performance management process and occurs at all levels of the company. The GDIC has been in place for over 20 years and consists of senior executives from every group.

Bank of America strives for gender equity in pay and career opportunities. For teammates in comparable positions, compensation received by women, on average, was greater than 99% of that received by men; and compensation received by people of color was, on average, greater than 99% of that received by teammates who are not people of color.

Return to the 2022 Diversity, Equity + Inclusion Awards recap

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