Truist Is Named One Of America’s Best Employers For Women By Focusing On Diversity, Equity And Inclusion
“We came together with the shared purpose of inspiring and building better lives and communities, and we were intentional about creating a culture that truly reflected our values. We combined the best of our heritage companies’ benefits to ensure that women and all teammates felt supported in their personal and professional lives.” ELLEN M. FITZSIMMONS Chief Legal Officer and Head of Enterprise Diversity, Truist
“We believe we have an opportunity and obligation to advance diversity, equity and inclusion in and outside of our walls, and to listen to the voices of our teammates to effect positive change at Truist and in all the communities we serve.” KIMBERLY MOORE-WRIGHT Chief Human Resources Officer, Truist
Truist Financial Corp., a bank holding company created by the December 2019 merger of BB&T and SunTrust banks, has earned a spot on the Forbes 2020 list of America’s Best Employers For Women.
The honor stems from Truist’s ongoing commitment to diversity, equity and inclusion, as well as the creation of an engaging environment where all teammates—how Truist refers to employees—can thrive, even in the midst of a global pandemic and an ongoing merger.
In practice, this meant that where one merger partner had a longer maternity leave or more significant childcare benefits, that was the option selected for Truist. The company provides 16 weeks of paid maternity and adoption leave, flexible work schedules, childcare reimbursements and time off to volunteer, as well as a company-funded pension plan and a 401(k) match.
“We have tried to make Truist a place to work where, despite the uncertainty of any large merger, teammates experience an energizing and caring atmosphere where they know how much they are valued,” says Fitzsimmons. Truist is committed to advancing women in the workplace, offering leadership development programs, sponsorships, rotational opportunities and training to empower them throughout their careers. Two-thirds of Truist’s 55,000+ teammates, a third of the company’s board members and a fifth of its senior executives are women.
“We recognize that women and those who are racially and ethnically diverse have historically been underrepresented in leadership positions, especially at financial services companies,” says Kimberly Moore-Wright, the company’s chief human resources officer. “At Truist, we are really pledging to change that. We are constantly looking at our leadership pipeline and evaluating how women and people of color are progressing through the organization.”
Moore-Wright, a 25-year veteran of BB&T before being named to the Truist Executive Leadership team, is a living example of how dedicated the company is to helping teammates benefit from leadership training and experience cross-functional opportunities that position them for ongoing success.
Moore-Wright started her career in the company’s Leadership Development Program, which led to senior positions in retail, learning and development, marketing and now human resources.
“I have been fortunate to always work for leaders who were authentically concerned about what I wanted out of my career and provided feedback around the goals that I created for myself,” she says. “It’s not just a job at Truist—it’s a place where your ambitions are acknowledged and you are afforded meaningful opportunities to achieve them.”
With values like Caring, One Team and Happiness, Truist is dedicated to creating an inclusive environment where every individual can learn and grow. To that end, Truist hosted more than 260 “Day of Understanding” sessions throughout 2020 to encourage bold and courageous conversations on topics like gender equity, race and social justice.
Truist also has eight business resource groups (BRGs) that help engage teammates, increase cultural awareness, provide business insights and foster inclusivity. The women’s BRG is the largest group, with 4,300 teammates, and is co-sponsored by Fitzsimmons and the company’s head of retail community banking, Brant Standridge.
This focus on serving and supporting teammates only grew during Covid-19. At the start of the pandemic, Truist issued a special onetime payment of $1,200 to teammates making $100,000 a year or less. The company also provided nearly $100 million in special Covid-19 support, such as bonuses, special reimbursement for childcare and an increase in emergency child- and elder-care benefits. Teammates also have access to no-cost telehealth and 100% coverage of Covid19 testing and treatment, and they can use 10 additional days of paid time off for school closings or other child- or elder-care impacts.
Truist’s initiatives extend to all its stakeholders, including its clients and communities. “As a purpose-driven company, the pandemic and social unrest our country faced this year gave us an important opportunity to demonstrate that we stand for better and convey how committed we are to creating an equitable society,” says Fitzsimmons.
With a $40 million initial donation, Truist has helped establish Corner-Square Community Capital, a new national nonprofit fund that will support racially and ethnically diverse small-business owners, women and individuals in low- to moderate-income communities. A newly expanded supplier diversity team also ensures that the company includes women- and minority-owned businesses as part of its sourcing. Additionally, the company’s chairman and CEO, Kelly King, publicly denounced social injustice, and Truist brought teammates and leaders together to have open conversations that conveyed empathy, understanding and encouragement during these challenging times.