LGBTQ+ Diversity in the Workplace at Bank of America

Supporting LGBTQ+ Diversity in the Workplace

We realize the power of diversity and value all our differences — in thought, style, sexual orientation, gender, gender identity and expression, race, ethnicity, culture, age, ability and experience. The diversity of our teammates makes us a stronger company.

At Bank of America, we strive to help all employees reach their full potential. Our support comes through in our values, policies and benefits programs, which have helped to create an inclusive environment where differences are welcomed, celebrated and respected.

Benefits

Two men smiling at Bank of America Pride event

Benefits

From paid parental leave to domestic partner benefits and gender transition support, we invest in and support our LGBTQ+ employees so they can bring their whole selves work.

We are committed to supporting employees as they start and grow their families. Up to 16 weeks of paid leave is covered for all parents with the flexibility to take that time when it works for their family, within the first 12 months after the new child arrives.

In 1998, we were the first financial services company to offer comprehensive domestic partner benefits. Employees’ partners are covered as eligible family members under all of our benefits packages, which include medical, dental and vision coverage, and life and disability insurance options. We recently increased our Family Planning Reimbursement coverage to up to a collective $20,000 lifetime maximum to help our employees with adoption, fertility, and/or surrogacy expenses.

Benefits and specialized support for employees embarking on a gender transition in the U.S., Singapore and Hong Kong follows a holistic approach. In 2008, we were one of the first financial firms to offer medically necessary treatments for the transition process. Additionally, our Life Event Services team is committed to helping employees transitioning in the workplace with confidential, one-on-one support. Employees who are transitioning can also connect with other transgender employees who have volunteered to provide direct support and guidance based on their experiences transitioning in the workplace. In 2019, we had our inaugural Transgender Summit, which brought together transgender teammates with LGBTQ+ executives for a week of dialogue and action planning about how we can support our transgender employees even more.

The LGBTQ+ Pride Ally Program

Today, with more than 26,000 out at work LGBTQ+ employees and visible allies in 30 countries around the globe, our LGBTQ+ Pride Ally Program drives positive change by engaging employees in our LGBTQ+ initiatives and programs and providing opportunities to participate in educational and volunteer events. We foster an environment where LGBTQ+ employees can bring their whole selves to work with the visible support of top executives and other teammates.

Allies are effective and powerful voices of the LGBTQ+ movement. Not only do they help people in the coming-out process, they also help others understand the importance of equality, fairness, acceptance and mutual respect.

Our LGBTQ+ Pride Ally Program, an extension of our LGBTQ+ Pride Employee Network, deepens our commitment to our core values by realizing the power of our people, acting responsibly and delivering together as one team. Being an ally supports our commitment to being a great place to work for all teammates.

Events

Every June, Bank of America employees, family and friends come together to celebrate during Pride Month through various parades, festivals and other programs in support of the communities where many of us live and work. Across markets, we encourage entire communities to march together in support of Pride. We know that our differences can strengthen our connections and help to build stronger, more thriving communities. We seek to set an example of the importance of valuing, supporting, embracing and celebrating diversity.

Our active participation in Pride activities has been further enhanced by our partnership with Love Has No Labels, starting in 2015. Love Has No Labels is an Ad Council campaign designed to help Americans embrace diversity and encourage people to recognize their unconscious bias. It aims to inspire people to treat others with fairness and respect. The campaign has been incorporated into a wide range of our Employee Network activities.

Our LGBTQ+ Pride Employee Network continues to expand in Asia Pacific, adding chapters in Korea, India and China. We have also added chapters in Brazil and Mexico. Bank of America has been a platinum sponsor of Pink Dot since 2014, and members of the local LGBTQ+ Pride Employee Network have shown support for diversity and inclusion, attending such events as the Queer Culture Festival in Seoul and the Pink Dot parade in Hong Kong.

We also invest in our employees through a variety of development and learning programs that help drive our culture of inclusion, foster diverse talent, and promote teamwork and positive engagement at every level of our company. For example, since 2013, close to 20,000 employees across the U.S., EMEA and APAC markets have attended training events to become better informed about the issues facing the LGBTQ+ community and how together we can promote an inclusive working environment.

Recognition

The 2017 Workplace Excellence award highlighted our commitment to workplace equality.

Named to the 2020 Stonewall UK Workplace Equality Index for our inclusive workplace and support for the LGBTQ+ community.

Named Corporation of the Year in 2018 by the National LGBT Chamber of Commerce

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