NEW YORK, October 25, 2012 – JPMorgan Chase announced today it has hired more than 4,500 veterans since 2011. The firm attributes its early success to the momentum gained through the 100,000 Jobs Mission, internal training programs on veteran employment and a recruiting effort dedicated to hiring transitioning servicemembers and veterans.
JPMorgan Chase and ten other companies launched the 100,000 Jobs Mission in early 2011 with a commitment to collectively hire at least 100,000 veterans by 2020. Since then, the grassroots coalition of private sector companies has grown from eleven employers to eighty-two who have collectively hired 28,186 veterans through September 30, 2012. The 100,000 Jobs Mission continues to grow by adding like-minded companies that are committed to hiring the nation's veterans and reducing veteran unemployment.
Speaking to the early success of the program, Frank Bisignano, JPMorgan Chase Chief Operating Officer and Mortgage Banking CEO said, "To have achieved more than a quarter of our goal in less than two years is a testament both to the commitment of the coalition and to the quality and drive of our returning service men and women. But we remain focused on our goal. The number of unemployed veterans remains high, and more businesses need to recognize the tremendous talent, intellect and skill our servicemen and women can bring to their organizations."
JPMorgan Chase also established a centralized Military Recruiting Team that has assisted in hiring more than 4,500 veterans at the firm since 2011 – at a rate of about ten veterans a day. Thirteen out of fifteen recruiters on the team are former military, or are still in the Guard or Reserves, helping to remove the obstacle servicemembers face in translating military skills into corporate jobs.
Training Programs Facilitate Transition from Military to Corporate Culture
While military experience develops many skills necessary to succeed in the private sector including leadership, a team-oriented attitude and strong work ethic, JPMorgan Chase has established several training programs to grow the next generation of leaders for the firm.
Earlier this month, Chase launched an innovative Branch Manager Training Program for military veterans. Chase will recruit, hire and train twenty veterans to be branch managers in New York, Dallas, Columbus and Tampa. The candidates will train in a twelve-month program focused on developing branch banking skills that complement the candidates' existing skills gained in the military. The program combines classroom, online and on-the-job instruction. Once the training is successfully completed, the candidates will be branch managers.
JPMorgan Chase also developed Body Armor to Business Suits, an internal training program designed to help new military-experienced employees assimilate into the firm. Another internal training program, Military 101, helps hiring managers and other non-military-experienced employees better understand veterans' backgrounds and the experiences they bring to the workplace.
Maureen Casey, Managing Director of JPMorgan Chase’s Office of Military and Veterans Affairs commented, “Veteran employment is a major initiative for the firm. Our collective efforts are not simply about helping veterans find jobs but also providing them with the skills and support they need to excel in their new roles and make their transition from the military to the private sector seamless. Long-term success requires that we put as much effort into assimilating and retaining veterans as we do on recruiting and hiring them.”
In addition to the 100,000 Jobs Mission, JPMorgan Chase also partnered with Syracuse University to establish the Institute for Veterans and Military Families (IVMF) in June 2011. IVMF is the first national center in higher education focused on the social, economic, education and policy issues impacting veterans and their families post-service. Since the Institute’s launch, IVMF has issued monthly reports documenting the change in the employment situation of America’s veterans; they have published two major publications on veteran employment including The Business Case for Hiring a Veteran: Beyond the Clichés and Guide to Leading Policies, Practices & Resources: Supporting the Employment of Veterans and Military Families; they have released 32 research briefs on employment, education, wellness and family; and its newest offering, “Operation Boots to Business: From Service to Startup,” is a three-phase training program offered in cooperation with the U.S. Small Business Administration to train transitioning servicemembers on business ownership.
According to IVMF Executive Director and Founder Mike Haynie, “We are extremely fortunate to have the support and partnership of JPMorgan Chase & Co., a thought leader in the veterans space and an invaluable partner in contributing to the actionable research that elevates the national dialogue on veteran employment. Through our collaboration and partnership, we are able to pursue our mission, which helps make a difference in the lives of the men and women who have served our country in uniform, and the families that support them.”
With support from JPMorgan Chase, Syracuse University’s School of Information Studies also offers a tuition-free Veterans Technology Program, a non-credit certificate program for post 9/11 veterans aspiring to careers in information technology in global corporations. The program, launched in July 2011, offers several tracks and includes a course on corporate culture.
For more information about Chase’s military initiatives, visit ChaseMilitary.com. To learn more about the 100,000 Jobs Mission or to apply for a position with Chase or one of its partner firms, visit 100000JobsMission.com or Facebook.com/100000jobsmission.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com