ESL Federal Credit Union partners with Monroe Community College (MCC) to offer a career development opportunity to college students in the Rochester, NY, area. The ESL/MCC program benefits individuals from diverse backgrounds who are interested in working in the financial industry while pursuing their Associate’s degree. Along with formal classroom instruction, learners receive career mentoring from seasoned ESL employees who represent a cross-section of the nine lines of business, and who have completed a rigorous mentor training curriculum. Upon successful completion of the program, participants are placed into their desired business unit.
Program Details
Key elements of the program include part-time employment during the school year, full-time employment over school breaks, comprehensive job training, career mentoring, professional skills training, and a job rotation that includes seven of ESL’s nine lines of business. The program aims to retain the student employees upon graduation through either full-time employment at ESL or part-time employment as they pursue their Bachelor’s degree at a local institution, with help from ESL’s tuition reimbursement plan.
A job skills mentor observes employee performance for two weeks following training, conducting formative assessments and providing any necessary supplemental training support. Electronic job aids address skill gaps on demand, at the point of need. Monthly Webinars on relevant topics continue throughout the learners’ two-year internship, and employees also complete four synchronous online professional skills modules accessed via the device of their choice. Employees must engage in social learning via the social platform in the company’s learning management system (LMS), which is moderated by Learning and Development (L&D). They earn electronic badges for completing both the social requirement and 13 supplemental e-learning modules. L&D monitors the program via quarterly check-ins with employees and mentors.
When employees remain with ESL following graduation, they are enrolled in the appropriate success track via the company’s LMS, where they participate in required follow-on training. After their initial training, mentors participate in monthly Webinars during which they are presented with a review assignment. Mentors also must complete annual online refresher training.
Results
Following the first rotation, 90 percent of program participants advanced into a new position based on correct use of newly acquired skills and behaviors. Interviews and surveys of mentor managers indicate that career mentors, on average, demonstrate a 30 percent improvement in communication skills and an 80 percent increase in overall engagement. Some 11 percent of career mentors have earned promotions.
Since program inception, ESL has retained 80 percent of student employees overall, and 100 percent of program participants who have graduated from MCC have remained employed with ESL. ESL’s diverse hire percentage was at 28 percent, putting it on track to meet its goal of 33 percent. The company’s percentage of diverse hire promotions for employees who have completed the ESL/MCC program is 90 percent.
