The brokerage wants to be flexible in its hiring amid disruptive times.
Fidelity Investments is hiring and hoping that innovations in personnel training and development will help the Boston brokerage hang on to new talent.
The firm reports that it is on track to create more than 12,000 jobs with a majority of them customer-facing positions — 69 percent — as the firm embraces new digital platforms and rising customer demands for cryptocurrencies and direct indexing.
Fidelity Investments recently announced that it will allow individuals to allocate a portion of their retirement savings to Bitcoin if their employers also agree to allow the cryptocurrency to be part of a 401(k) plan. To facilitate this change, Fidelity has launched the “workplace Digital Assets Account (DAA)” 401(k) retirement plan.
In part, the hiring spree is underway to meet the demand for more digital offerings. The firm expects to fill the new positions by the end of the third quarter of this year, officials say.
“The jobs will put the company on track to meet or exceed its hiring in 2021, which saw 16,600 new hires — more than double the 7,200 associates hired in 2020,” according to an official statement. “These increases come as Fidelity sustains growth across its market-leading businesses, including in assets under administration, daily trades, and advisory assets.”
The new jobs “are across all job functions, particularly customer-facing positions (69 percent) and technology positions (14 percent) and represent one of many ways Fidelity makes significant investments back into the customer experience,” according to Fidelity.
The firm’s growth “also allows it to invest further in technology … These new product offerings and solutions are supported by the launch of innovative training programs that provide pathways for new hires to be part of the work that is shaping the future of financial services.”
“Our new career development programs help associates explore what’s next in their careers, learn skills for the future, and improve on processes across our businesses that will make an impact on peoples’ lives,” says Kirsten Kuykendoll, head of talent acquisition at Fidelity Investments, in a prepared statement.
Fidelity officials add that they are “introducing new industry-leading training and development programs. One such experience, Launch, is designed to promote ongoing education and career exploration as program participants split their time between customer service roles and other areas of the business.”
The participants in the Launch program can declare minors – areas of study “where they explore a myriad of career paths, including operations, marketing, human resources, social media, digital advocacy, and data analytics,” officials say.
“Another program, ADAPT, is designed to expose associates to careers at Fidelity in cryptocurrency and blockchain work. Participants in the rotational program are given hands-on projects and training across the business, including with Fidelity Digital Assets and Fidelity Center for Applied Technology,” officials explain.
The firm will also explore “new associate benefits, such as work-from-home allowances, increased parental leave, and an enhanced student debt repayment program,” officials say. “Fidelity offers expedited hiring, onboarding, and training processes as well as new entry-level programs, all of which prioritize the safety of candidates and associates.”
When it comes to having staff return to work in person, Fidelity is applying a “flexibility first” strategy that will start this summer, officials say. This approach “will combine remote work with purposeful time onsite helping to balance associates’ work and life needs.”
Fidelity has assets under administration of $11.3 trillion, including discretionary assets of $4.2 trillion as of March 31, 2022, officials say. The privately held firm employs more than 57,000 associates.
For those who want to apply, the Fidelity team can be reached here: https://jobs.fidelity.com.
