Industry: Finance Partnership: Year Up: Boston Business Need: Diversity, Goodwill & Community, Onboarding & Training, Recruiting & Efficiency

State Street Corporation’s partnership with Year Up began as a small IT pilot and has grown to become a multi-pronged business solution; an exemplar of how investing in local, urban talent can help businesses grow and retain the skilled, local entry-level talent to fit their hiring needs.

case study pdf
"Year Up is one of our strongest community based partners because they provide the pipeline of talented, trainable, enthusiastic youth for our entry-level openings."
Richard Curtis, Vice President of Workforce Development
State Street Corporation

Proud Partner With

Year Up Boston seeks to close the Opportunity Divide by providing urban young adults with the skills, experience, and support that will empower them to reach their potential through professional careers and higher education. Year Up Boston achieves this mission through a one-year, intensive training program that provides low-income young adults, ages 18-24, with a combination of hands-on skill development, college credits, and corporate internships. Year Up Boston opened its doors in January of 2001 to a class of 22 students. Now serving more than 200 students each year at its site in downtown Boston, Year Up Boston continues to demonstrate the successful impact the program has on the lives of urban young adults. Year Up Boston currently has more than 40 corporate internship partners, 100 community partners, and 300 volunteers.

THE CHALLENGE

During the labor shortage in 2005, State Street Corporation needed to identify new pipelines of talent to convert to full-time roles. State Street Corporation was looking for trainable and motivated young adults with the fundamental technical and professional skills to fill its entry-level IT and Finance positions.

THE SOLUTION

After piloting their first community-based internship program with Year Up, State Street Corporation had found a new way to strengthen the community while simultaneously building a stronger local workforce for their business. Year Up has since become one of the largest sources of skilled and diverse entry-level talent in IT andFinance at State Street Corporation, with over 300 Year Up graduates hired to date.

THE OUTCOME

  1. Pipeline of skilled, trainable talent ready to work immediately
  2. Reputation as a community employer investing in a stronger local workforce
  3. Increase workforce diversity and employee engagement

 

Source: Year Up and Employment Pathways Project. State Street Corporation Case Study. 2014.

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