Merrill Lynch Employee and Community Total Talent Development
BT Total Talent Award supported by DIUS
Working with Merrill Lynch volunteers has given our students a perspective on career development opportunities that is impossible to put a value on.
Linda AustinHeadteacher, Swanlea School
By focussing on talent, Merrill Lynch are helping local school pupils fulfil their potential and attracting, retaining and developing their employees.
Processes
Merrill Lynch is one of the worlds leading investment banks. Attracting and developing talented people is key to the banks success now and in the future. Merrill Lynch’s approach to talent aims to a) increase employment opportunities for women, ethnic minorities and disabled people, and b) raise the aspirations, personal, academic and business skills of disadvantaged young people in our communities and equip them with the skills and knowledge to succeed in their lives and careers.
Talent Building is a key component of the Merrill Lynch Leadership model, which all managers’ performance is assessed and benchmarked against. Mentoring programs are run in a number of business and support areas. Employee reward programs recognise outstanding achievement and encourage wider adoption: ‘Taking it Higher’ and ‘Innovation’ awards recognise staff who identify and implement new and creative businesses solutions and collaboratively work to improve business performance; Diversity and Inclusion awards recognise staff who go beyond their responsibilities to promote and deliver a more diverse and inclusive workforce and working environment.
Community programmes are focused on adding value in areas that Merrill Lynch excel – supporting financial literacy and business skills – and in the communities that need the most support. Over the years they have developed strong links into four schools in Tower Hamlets, all of which face the same challenges of high percentage of pupils with English as a second language and high levels of unemployment. Volunteers act as reading and numeracy mentors in primary schools; at secondary level the Merrill Lynch Enterprise and Entrepreneurship Programme aims to raise students’ career aspirations and business awareness through classroom activities, presentations and life skills training. In 2007 an Enterprise and Entrepreneurship examination was introduced, based on the MLEE program, which gives successful students the equivalent of a ‘B’ grade GSCE qualification.
Impact
- The focus on talent is helping the business increase the diversity of recruits – this in turn is supporting revenue growth through client networks (e.g. LGBT and women’s networks)
- More than 900 employees have volunteered at the Osmani Primary School since 2000, during this time the school became the ‘most improved’ in England and now has exam results well above the national average
- All three schools participating in the Merrill Lynch Enterprise and Entrepreneurship Programme have seen grade improvements – the A-C pass rate in Business at Swalnlea school has risen from 54% to 95%
