New Skills at Work
Helping people develop the skills they need to compete for today's jobs can transform lives and strengthen economies. Through New Skills at Work, our five-year $250 million global initiative, we are leveraging our resources, expertise, and global reach to help inform and accelerate efforts to support demand-driven skills training for adults. Additionally, we launched a program to expand skills-based education for young people - New Skills For Youth is a $75 million program to help solve the youth unemployment crisis.
The numbers seem to contradict each other: unemployment is high across the globe, while recent data reveals that employers are having trouble finding workers who are trained for the jobs that are available, particularly in skilled labor and professional positions. And more than 50% of global CEOs are concerned that a key skills gap could limit their growth prospects. Through our programs, we are working hard to ensure that people are trained and competitive for the skilled jobs of the 21st century.
Small Business Forward
JPMorgan Chase is committed to helping small businesses acquire the capital, expertise and other resources they need to grow. Small businesses are the cornerstones of local communities, creating jobs and spurring innovation. We serve $4 million small businesses nationwide and are a top SBA lender for women and minority-owned businesses.
Through our philanthropy, JPMorgan Chase funds nonprofits that implement innovative models connecting small businesses to vital resources that help them grow. In 2014, JPMorgan Chase launched Small Business Forward, a $30 million, five-year global initiative to support small businesses with the potential to grow, offer quality employment, and generate economic opportunity for underserved communities. In October 2016, JPMorgan Chase more than doubled the size of the global Small Business Forward program, committing $75MM over the next three years to connect underserved small businesses with capital, targeted technical assistance and support networks to help them grow and succeed.
Small Business Forward objectives include:
- Creating and preserving quality jobs for vulnerable individuals and neighborhoods
- Promoting economic inclusion and opportunity for underserved populations
- Strengthening local economies
Helping individuals acquire the knowledge, skills and tools needed to promote financial health increases the resiliency and prosperity of households and communities. JPMorgan Chase supports a range of programs around the world to help individuals manage their daily finances, withstand unexpected emergencies and meet their long term goals. Specifically, we work with partners that apply insights from behavioral science and design to:
- Identify, enhance and expand the availability of technology-based financial products.
- Provide one-on-one financial coaching.
- Better understand effective strategies to promote financial health.
Leveraging our networks and expertise in financial services, JPMC is connecting employees to help our innovative social enterprise and community partners expand the reach and impact of their programs and services.
PRO Neighborhoods is a $125 million, three year initiative that addresses neighborhood quality issues that drive income and wealth inequality by providing communities with the tools and capital required to scale cross-sector solutions. Through PRO Neighborhoods we will, create incentives for community organizations to collaborate across program silos to promote opportunities for low- to moderate income (LMI) families, communities and entrepreneurs of color and distressed neighborhoods; infuse capital into distressed neighborhoods; and support research on innovative housing and community development strategies.
Employee Engagement & Volunteerism
Through Good Works, the firm’s suite of strategic volunteer and workplace giving programs, and the Service Corps, our signature skills-based volunteer program, JPMorgan Chase actively seeks to use the most important asset we have – the expertise and commitment of our employees— to maximize the impact of our philanthropic investments and help our nonprofit partners increase their impact and ability to serve local communities.
- Good Works' Volunteer Programs
- Each year, tens of thousands of JPMorgan Chase employees volunteer their time and expertise to help nonprofit organizations and people in underserved neighborhoods. We strive to develop innovative programs that use our core strengths, capabilities and expertise of our business and our people to maximize impact. In addition, the JPMorgan Chase Service Corps and Virtual Service Corps opportunities utilize employees’ talents and expertise to build the capacity of nonprofits that are meeting critical needs in the communities.
- Specific to the Service Corps, our signature skills-based volunteer program, since 2013, 112 of our employees from 12 different countries have participated in Service Corps programs in Detroit and New Orleans here in the U.S., but also in Mumbai, India; and Johannesburg, South Africa. We are excited to be expanding the program in 2017 to include cities like Chicago, East London, and Detroit.
- Good Works’ Workplace Giving Program
- JPMorgan Chase supports its employees’ philanthropic giving by deepening the impact of each gift. Through the Good Works’ workplace giving program, employees have the opportunity to donate to a charity of their choice through Good Works’ secure portal. For every dollar donated, up to $1,000, the JPMorgan Chase Foundation will honor that donation by providing a dollar-for-dollar credit to employees in a Charitable Spending Account (CSA). Doubling the value of an employee’s initial gift, the dollar-for-dollar credit can be used to “pay it forward” to firm-approved charitable organizations.