JPMorgan says labor shortage requires unconventional hiring

JPMorgan Chase says companies can address global labor shortages in part by tapping into neurodiversity and people with criminal histories.

The New York-based bank has hired thousands of people with criminal records and hundreds of people with autism or other conditions, Brian Lamb, global head of diversity, equity and inclusion of JPMorgan at CNBC’s Equity and Opportunity Forum.

“There’s a labor shortage, I think we’re all going through that around the world,” Lamb told CNBC’s Sharon Epperson. “It’s going to require unconventional approaches” to hiring, he said.

People with criminal histories may face barriers to employment, Lamb said. The bank, which had 271,025 employees at the end of 2021, eliminated questions about criminal records from initial job applications, he said. The bank has also teamed up with external partners for CV services and career coaching.

“We hire thousands of people with criminal backgrounds in the workplace at our company,” Lamb said. “This is another specific example of what we are doing to move forward in tapping into talent pools that have historically been left behind.”

JPMorgan has also established a pipeline for applicants with disabilities, including autism, in nine countries, according to Lamb.

“These partners help us identify, select and assess the talent we can bring into these programs, hundreds of people who we believe can fill more than 40 positions within JPMorgan Chase,” he said.

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