Office of Diversity and Inclusion
New York Life’s Office of Diversity and Inclusion promotes equal employment opportunity and workforce diversity, strengthens diverse procurement practices, engages in community outreach, and works to support a culture that continuously evolves by actively welcoming and respecting different backgrounds and points of view for the benefit of New York Life and its employees.
In 2016, the Office of Diversity and Inclusion launched the Coming Together Series, with the inaugural session bringing together employees to engage in a first-time, company-sponsored discussion on race relations. Since then, we’ve built a comprehensive program that includes ongoing companywide discussions featuring timely topics, guest speakers, and the sponsorship of related research projects. The Series has been instrumental in shaping our culture of inclusion.
As of June 2020, there have been 20 courageous conversations exploring topics intersecting race and their communities. Through these sessions, employees learn how to approach and discuss tough social issues to better understand and connect with each other, leading to a more inclusive workplace. Recent examples of such sessions include COVID-19, Fear & Bias, Justice in Action, Hate Crimes, and Coming Out in Diverse Communities.
Employee Resource Groups
New York Life proudly sponsors seven Employee Resource Groups (ERGs). Created by and for employees who represent unique cultures, experiences, and backgrounds, these groups coordinate numerous workshops, seminars, and special events that make a real and lasting difference across the organization. Today there are more than 70 ERG chapters and sub-groups, and each year nearly two-thirds of all employees attend at least one of the more than 100 programs they offer.
New York Life’s Black ERG is known as the Black Organization for Leadership and Development, or BOLD. BOLD’s mission is to build a foundation of engagement and encouragement for New York Life employees of African descent and their colleagues which serves as a catalyst for individual growth and empowerment while reinforcing New York Life's mission and values.
BOLD’s signature program, NYL 360, empowers its membership through educational programming about New York Life, our leaders, our strategies, and career development opportunities. As part of the NYL 360 program, BOLD collaborated with the Agency business to create a wealth management and financial literacy program called Planning BOLDly Wealth Building Series. This program won external recognition, landing a Top 10 spot on Profiles in Diversity Journal’s Annual Innovations in Diversity Award List in 2019—an award that recognizes organizations that have developed innovative solutions in the areas of workforce diversity, inclusion, and human equity.
Recruiting and Retaining Talent
Our success depends on a true culture of inclusion that reflects the communities we serve, and our commitment to encouraging, creating, and maintaining a diverse and truly inclusive work environment helps create opportunities for all.
A snapshot of New York Life’s commitment in this area, as of June 2020, in this area includes:
New York Life supports a wide variety of internship programs and positions across the company. A particularly noteworthy partnership we have is with Year Up, a non-profit organization focused on closing the opportunity divide by ensuring that young adults gain the skills, experience, and support that will empower them to reach their potential through careers and higher education.
Since initiating our relationship with Year Up, we have hired nearly 170 interns, donated $800,000, with more than 60 of these young professionals being placed in the company on a full-time basis. Already this year we have hired 17 interns for full-time positions in several businesses at New York Life.
We have partnerships with a number of organizations that support Black professionals including:
· Executive Leadership Council
· International Association of Black Actuaries
· National Association of African Americans in Insurance
· National Association of Black Accountants
· Minority Corporate Counsel Association
· Corporate Counsel Women of Color
· The PhD Project
Recognition for company efforts including:
· 2019 Diversity Best Practices Inclusion Index – Leading Index Spot
· 2020 Working Mother 100 Best Companies for Multicultural Women
· 2019 National Business Inclusion Consortium’s (NBIC's) Best-of-the-Best list of corporations in America committed to diversity and inclusion across all community sectors
· 2019 Forbes Best Employers for Diversity
· 2019 Profiles in Diversity Innovation Award – ranked in top 10
Learn more about our past and present here.