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JP Morgan Chase & Co: Workforce Diversity and Inclusion in 2021

  • In 2021, JP Morgan Chase & Co reported 49% women participation in its workforce which remains unchanged over 2020
  • In 2021, the representation of Asian employees of JP Morgan Chase & Co in the US workforce was 17%, an increase of 1 percentage point over 2020
  • JP Morgan established Advancing Hispanics & Latinos ("AHL") and the Office of Asian & Pacific Islander ("API") Affairs in 2021 for the growth of respective communities

Diversity, equity, and inclusivity (DEI) in an organisation help bring unique perspectives and ideas to create more innovative, productive, and resilient enterprises. It also contributes to equality of opportunity and treatment in the workplace at all stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.

The gender gap in organisations over the past three decades has narrowed, attributed to labour mobility worldwide. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which creates an environment of an open and inclusive workplace. However, labour market disruption due to the COVID-19 has had overwhelming consequences globally. Women’s employment declined by 5% globally in 2020 compared with around 4% for men according to International Labour Organization (ILO).

Globally, banks are reporting diversity and inclusivity to ensure that all genders and backgrounds have a more equitable and inclusive workplace. Companies and banks benefit from a diverse workforce by attracting new customers as people want to do business with institutions that share their values.

JPMorgan Chase & Co is an American investment bank which provides various banking services such as retail banking, commercial banking, advisory, wealth management, and credit card services. In 2021, the company reported 49% women participation in its workforce which remained unchanged over 2020. Representation of women in the company at the senior management level was 26% in 2021.

In 2021, the representation of Asian employees in the US workforce was 17% which increased by 1 percentage point from 2020. Black & African American and Hispanic & Latino employees represented 14% and 20% of the US workforce, respectively.

JP Morgan Chase & Co established Advancing Hispanics & Latinos ("AHL") and the Office of Asian & Pacific Islander ("API") Affairs in 2021 for the growth of respective communities.

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