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Major bank to lower bonuses if diversity targets not met in initiative to triple minority staff
https://www.washingtonexaminer.com/ ^ | 11/16/2021 | Zachary Halaschak

Posted on 11/16/2021 6:07:43 PM PST by massmike

Boston-based State Street plans to triple the number of minority staff in senior roles by 2023 and is using diverse hiring panels to do so. Under the policy, executives must show that they have made an effort to increase minority representation at the firm or face lower year-end bonuses, according to the Sunday Times, which reported that staff will have to receive “special permission” to hire white men.

Recruiters of middle management at State Street are now mandated to establish a panel consisting of four or five employees including a woman, and preferably a person of color, that will evaluate new hires. McNicholas said that while white men will still be hired, recruiters need to show that the panel interviewed a diverse slate of candidates.

In an email to the Washington Examiner, a State Street spokesperson denied the charge that special approval would be required to hire white men.

“Hiring managers do not need special approval to hire white men. This is factually incorrect,” the spokesperson said. “We are committed to diversity and inclusion and, as such, diverse panels of candidates. We hire the best candidate for the role."

State Street, which has pledged to hold itself “accountable for strengthening black and Latinx owned businesses,” has advocated for more women and minorities in the workplace in the past. It commissioned the “Fearless Girl” statue, which was unveiled to mark International Women’s Day in 2017.

The bronze figure, which features a young girl standing defiantly with her hands on her hips, was originally placed in front of the iconic “Charging Bull” statue, although it was later relocated to face the New York Stock Exchange after complaints from Arturo Di Modica, sculptor of the Charging Bull.

(Excerpt) Read more at washingtonexaminer.com ...


TOPICS: Miscellaneous
KEYWORDS: diversity
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To: wally_bert

I thought them too but I thought they were still around, I knew Sun Trust went bye bye.


41 posted on 11/16/2021 7:07:28 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: massmike

Is that legal?


42 posted on 11/16/2021 7:16:10 PM PST by Momaw Nadon ("...with the ultimate goal of ending tyranny in our world.")
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To: Skywise

They have been taught this in the schools for decades. Now the first wave of the brainwashed are at the top.


43 posted on 11/16/2021 7:26:29 PM PST by Nuc 1.1 (Liberals aren't Patriots. Remember 1789!)
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To: massmike

I see this “bank” has diversity targets for employment..
Why not diversity targets for loans?


44 posted on 11/16/2021 7:27:24 PM PST by joe fonebone (bush league chamber of commerce worshiping republiCAN'Ts are the enemy)
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To: Tzimisce

A white feminist friend of mine is about to experience some karma - her unemployed son had a job interview at a college in a lily-white area and the all white hiring committee warned him that they are looking for “diversity.”


45 posted on 11/16/2021 7:28:01 PM PST by GnuThere
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To: massmike

Might as well require them to hire based on shoe size.


46 posted on 11/16/2021 7:42:49 PM PST by bgill (Which came first, the vax or the virus?)
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To: massmike

THASS RACIST!


47 posted on 11/16/2021 7:43:28 PM PST by Taxman (SAVE AMERICA!)
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To: massmike

Left is putting whites as the new jews


48 posted on 11/16/2021 8:13:32 PM PST by inchworm (al )
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To: massmike

Young folks are catching on to the scam—they are busy creating fake documentation of Native American or Hispanic grandparents.

As long as they stick to the same story over and over again they should be good to go....


49 posted on 11/16/2021 8:22:18 PM PST by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: massmike

If u bank with them, find another bank.


50 posted on 11/16/2021 8:24:46 PM PST by tennmountainman ( Less Lindell CONS, More AZ Style Audits)
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To: Skywise
Where’s all this garbage coming from?

WOKE CEO's and Corporate Boards. That's where from.

The large, multi-national bank I work for all but says "WHITE GUYS DON'T EVEN BOTHER APPLYING OR THINKING OF GETTING AHEAD HERE!"

Thank Almighty God I'm near retirement age. 2 years to go and after that the bank can pay me my pension and kiss my lily white ass!

51 posted on 11/16/2021 8:26:35 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: bankwalker
i thought for sure it would be citi ...

I thought it would be the large bank I work for since we actually have metrics showing how many blacks, black females, latina's, latino's, asians etc.. that were interviewed and hired instead of white men. (Not kidding! The bank I work for actually tracks the hiring of minorities that replaced white men who left the bank.)

Translation: white men need not apply!

52 posted on 11/16/2021 8:29:44 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: massmike

I am an ex banker and I heard this SAME CRAP THIRTY YEARS AGO.

It never gets old for those promoting chaos and discontent, but it sure gets OLD for normal people. I never bought the boo-hoo professional moaners, complainers, and let’s face it lazy asses who never got ahead and NEVER DID THE WORK REQUIRED.


53 posted on 11/16/2021 8:51:11 PM PST by Maris Crane ( )
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To: massmike

That’s Racist!!! You can bank on that!!!


54 posted on 11/16/2021 8:59:22 PM PST by MadMax, the Grinning Reaper (Figures )
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To: Gen.Blather
Every time bonuses are tied to X then X gets optimized even if it destroys the company.

Exactly!

But not only that: Bosses could bend over backwards, looking for equally-qualified minority hires, and earn their bonuses fairly. But that is not going to happen. Instead, they will take the easiest route and hire the first halfway decent-looking minority they can, thus securing their bonuses with a minimum of effort. And no one will dare call them out on it!

Regards,

55 posted on 11/16/2021 9:25:38 PM PST by alexander_busek (Extraordinary claims require extraordinary evidence.)
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To: MercyFlush

“Go woke, go broke.”

I wish. This is going to spread to other banks and corporations.


56 posted on 11/16/2021 10:43:27 PM PST by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: massmike
So how's that "let's just have a few really big banks, medical systems, media outlets, industries, school systems" working out for you?

Big is not a friend of liberty.

57 posted on 11/16/2021 10:46:28 PM PST by Harmless Teddy Bear (add a dab of lavender in milk, leave town with an orange and pretend you're laughing with it)
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To: MercyFlush

I was in my local credit union today and they had a “POC” teen age bank teller. He couldn’t have been much more than 18. His cash drawer count was off and there was some sort of drama going on. He was dismissive of the incident to his supervisor who was investigating. He obviously belonged bagging groceries and not handling large amounts of cash in a bank.


58 posted on 11/19/2021 6:09:56 PM PST by lodi90
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To: jimfree
The demand for minority job seekers will send the market salary soaring. AND, it just might push the quality down an order of magnitude.

The employees with talent are going to walk out the door. Which current employee wants to make less than the new minority hires the bank had to throw money at to join?

59 posted on 12/02/2021 6:25:05 PM PST by T.B. Yoits
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