Fifth Third Bank

Be Respectful & Inclusive

"The commitment to Be Respectful and Inclusive is a commitment to live a Core Value that makes Fifth Third a place where people want to work, want to bank and want to connect. Inclusion in all things fosters respect, trust and good will. It makes all of us better and it makes our Bank better, too."

Jule Kucera,
Chief Diversity & Corporate Responsibility Officer


BY THE NUMBERS


Inclusion & Diversity

Inclusion and diversity are essential to living our Core Values and to serving customers, delivering financial performance and being recognized as a leader in building an engaging workplace, a strong supplier base and vibrant communities.

Business Resource Groups (BRGs) are one way our Company fosters inclusion and diversity. In 2017, we expanded BRG access by creating Enterprise BRGs to enable employees to participate virtually in addition to joining in-person regional BRGs. Employees join these groups to celebrate inclusion and diversity while benefitting from leadership, development and community involvement opportunities. Employees can join as many BRGs as they choose and do not need to be a member of a group’s constituency to participate.

Progress in 2017 included:

  • Launching eight executive-led Enterprise BRGs.
  • Increasing number of regional BRGs to 10.
  • with 69 chapters.
  • Increasing number of BRG members to over 2,000.
  • Holding 18 virtual EBRG sessions.

Board of Driectors

Talent Diversity

We are committed to talent diversity at every level of our Company, from our Board of Directors to our Executive Team to our over 18,000 employees. We also are committed to full disclosure and to publishing our diversity demographic data. We did so for the first time in the 2016 CSR Report and are pleased to continue. We are proud of our efforts while also recognizing that this commitment to balanced representation requires ongoing effort.

We operate the Women in Leadership (WIL) program, an integrated development experience targeted to high-performing senior female leaders who we believe can have more impact and influence on the success of our Company.

Victoria Daly, a Fifth Third Human Resources specialist in the Cincinnati region, said, “The goal of the Women’s BRG is to provide opportunities that inspire women to recognize and achieve their full potential. As a co-chair for the leadership and development subcommittee, I was able to build leadership skills while having an impact on BRG members through programs and events. Our most notable contribution for 2017 was the successful pilot of our Leadership and Development Book club, which connected members and Women in Leadership participants.”

“As co-chair for the LGBT group in Kentucky, we get chances to be out in the community and show Fifth Third’s commitment to diversity and inclusion,” said Justin Preece, vice president and retail regional manager in Louisville, Kentucky. “We did that this past year by volunteering at the Lexington Pride Festival. I am most proud of being there because we were the only bank at the event, and we had multiple people thank us for our visibility. We had the chance to interact with existing clients and attracted new clients due to our presence.”

The program is focused on accelerating participants’ readiness to lead at the next level, and ultimately, in the C suite. Participants are challenged to leverage their leadership capabilities through skill building, experiential learning and exposure to enhance the achievement of business outcomes.

About 10 women go through the program each year after they have been nominated by our Bank’s Enterprise Committee. Since 2015, more than 29 women have graduated from the program and more than one-third have been promoted and/or taken a new role with expanded responsibilities.

"The program inspired me to be more bold and think bigger about my career and the transferability of my skills to other roles. It gave me greater passion to pay-it-forward—sharing what I’ve learned to support and encourage others."

Marcie Wright,
Director, Regional Portfolio Management, Senior Vice President

Marcie Wright, Director, Regional Portfolio Management, Senior Vice President

Impact Story

A Maternity Concierge for Fifth Third Moms

When Lexus Smith learned her baby would be several weeks early, she panicked. The customer service representative in Cincinnati needed to prepare for the early arrival of her son and move up her baby shower all while working full-time and raising her 5-year-old daughter. Her mom could only drive from her home in Tampa to visit for one weekend, so the baby shower had to be that week.

That’s when Smith turned to Fifth Third’s Maternity Concierge Program, designed to assist women with the unique challenges they face during pregnancy, after the baby is born and especially upon their return to work. The free program is powered by Best Upon Request and begins when a woman learns she is pregnant, continues through maternity leave and ends when the baby turns 1. The Bank introduced the program in 2017 to help retain and recruit women.

Smith talked with Best Upon Request Concierge Jessica Hanson. “That’s when I knew everything was going to be OK,” she said. “Jessica took care of me like she was my mother.” Hanson called six places and found the perfect spot for the baby shower that met her specifications for budget, food and location.

“She just helped ease all of my stress,” said Smith, whose son, Zavier, is now 13 months old. “It made me feel valued, like I wasn’t just a number. Fifth Third wants employees who are OK at the end of the day on every level.… I can provide better service when I don’t have so many things on my mind.”

Smith later moved to work for Fifth Third in Tampa, and during Hurricane Irma, the Maternity Concierge helped get her distilled water for formula for her son.

Lexus Smith, Customer Service Representative

“The Maternity Concierge made me feel valued, like I wasn’t just a number.”

Lexus Smith, Customer Service Representative

Maternity Concierge is part of Fifth Third’s commitment to provide an environment and culture where working mothers can not only succeed, but excel,” said Teresa Tanner, executive vice president and Fifth Third’s chief administrative officer, who worked with Best Upon Request to co-create the program. In its first year, the program enrolled about 300 women from all 10 states in our retail footprint.

Engagement & Wellness

We are extremely proud of our efforts to enable employees to confidently say they are “banking on me.” We are striving to be a leader in employee wellness leadership. The new Maternity Concierge program clearly tells Fifth Third moms that we care about them—both personally and professionally. To further support working parents, we made four weeks of paid bonding leave available to all new employee parents (male and female) in 2017. The benefit provides important paid time away from work without the need to use sick and vacation time.

Financial wellness also is an important component to our employees’ overall well-being. We launched a new employee financial program, provided by Ayco, in 2017. The program offers employees personal financial coaching and online resources to help them become more financially fit.

Stacey Bowers, a banking center support specialist, had this to say about the personal coaching provided through the program: “I met over the phone with a financial coach to discuss my finances. The coach was very helpful and motivated me to take action to improve my situation.”

The new myWellness–Financial program offered through Ayco is a complement to the myWellness—Health program, powered by Go365. Together, along with other benefits like LifeWorks, the maternity concierge and more, the program holistically supports the overall wellness of our employees and their families.

We offer these and other benefits like LifeWorks, a free and confidential program that provides employees and their families with support for a variety of issues, including tips on family topics, stress management advice and tools for researching products and services. In serving customers, supporting one another and improving communities, they drive the Bank’s business, reputation and success. We strive to fairly recognize and compensate employees based on individual performance and market alignment.

When the U.S. government passed tax legislation in December, including a reduction in corporate tax rates, we saw an opportunity to further recognize employees’ efforts. We were the first bank to announce:

  • A rise in our minimum hourly wage to $15. All non-exempt employees who had previously earned less than $15 per hour received a base pay increase to meet the new minimum. The pay increase became effective just after the New Year.
  • Over 13,500 employees received a one-time payment of $1,000, paid in December 2017.

These investments help to reward, recruit and retain employees. As our chairman, president and CEO Greg Carmichael said at the time, “It is the right thing to do.”

Fifth Third "Banking on Me" Programs

Fifth Third Banking on Me Programs

Impact Story

Being Inclusive of those with Disabilities

Project SEARCH is a one-year, school-to-work transition program for individuals with intellectual and developmental disabilities that we helped establish in 2005. We operate three Project SEARCH campuses, two in Cincinnati and one in Grand Rapids, Michigan.

Over the years, we have guided and mentored more than 260 students and prepared them for job placements with multiple companies. We have also been honored to hire 34 graduates as Fifth Third team members. Last year marked our 12th consecutive year hosting the program’s single largest fundraiser, the Tee-Off for Project SEARCH golf tournament, which raised over $155,000. Since 2005, we have raised more than $1.3 million.

In addition, we sponsored the 37th annual Veterans Wheelchair Games in Cincinnati. The Wheelchair Games are a rehabilitation and sports program empowering veterans with spinal cord injuries, multiple sclerosis, amputations and other neurological injuries to live more active and healthy lives through wheelchair sports and recreation. About 600 veteran athletes competed.

Our Company has earned significant recognition for our work with and for individuals with disabilities, including the 2017 Disability Matters “Employer of Choice Award,” and we understand that the work we do with individuals with disabilities is its own reward. “There is nothing more rewarding than the work we do with Project SEARCH and other initiatives for individuals with disabilities,” said Mitch Morgan, vice president and Fifth Third’s inclusion and diversity manager. “Improving lives of the people we serve isn’t just about financial services or customer experience—it’s about creating opportunities for growth, development and enabling our friends and neighbors to reach their full potential.”

Edie Bahlman, Project SEARCH graduate and Fifth Third employee

“Project SEARCH taught me how to prepare for a job. Since I was hired, I have gained organizational skills and I like being a part of a team. My favorite thing about my job is getting all of the work done and staying on task. I love my job at Fifth Third.”

Edie Bahlman, Project SEARCH graduate and Fifth Third employee

 

Supplier Diversity

We believe that diverse perspectives, ideas and thinking make us a stronger bank and, more, we recognize that diverse suppliers are a critical part of the health and vitality of our communities, our customers and the overall economy. In 2017, our total supplier diversity spend was $50.4 million. Year-over-year growth from 2016 to 2017 was a significant 174 percent.

In January 2017, we selected Empower, one of the nation’s largest independent media agencies, as our media agency of record. That means that Empower is leading media planning and buying efforts for Fifth Third, including social media and content marketing. Empower is a women-owned agency.

We also held our third annual Supplier Diversity Summit in our headquarters city of Cincinnati last year. The event is designed to help women-, minority- and veteran-owned companies do more business with Fifth Third.

Nearly 170 people attended the event, with 42 diverse companies represented from our 10-state footprint. Tillie Hildalgo Lima, president & CEO of Best Upon Request Corporate Inc. (BEST), a Hispanic- and women-owned business, and co-creator of the Maternity Concierge, was one of the presenters at the Summit.

“The maternity concierge program is incredible,” said Hidalgo Lima. “The leadership that was required to implement this service was bold.The program ultimately helps women succeed at home and at work and creates a pipeline for women to grow their careers at Fifth Third Bank. We’re honored to be a part of that strategy.”

The Maternity Concierge is an example of how supplier diversity serves as an engine for innovation and growth. In acknowledgement of our commitment to partnering with women-owned businesses, we were awarded the Women’s Business Enterprise National Council (WBENC) America’s Top Corporations Bronze Award.

“We are proud of the progress of our supplier diversity spend in 2017, but even more important were the relationships we built with new diverse suppliers. It is extremely rewarding to collaborate with minority-, women-, and veteran-owned companies whose talent and expertise boost our business.”

Stephanie Smith, Director of Supplier Diversity

Impact Story

Supplier Diversity At-a-Glance

Vision

We desire to be the One Bank people most value and trust. In support of that vision and our commitment to communities, our Supplier Diversity Program strives to:

  • Increase spend with diverse suppliers,
  • Increase our number of diverse suppliers,
  • Increase diverse supplier representation in challenging spend categories.

What We Buy

We purchase billions of dollars in goods and services each year. Our key areas of opportunity include marketing, facilities management services, IT software and hardware, fintech and professional services such as legal services.

Supplier Diversity Success Stories

HP Energy

HP Energy (MBE)

Middletown, Ohio-based HP Energy, co-founded by President Steve Hightower, consulted with Fifth Third on a project to install LED lighting across our facilities. The project is expected to cut our energy costs by $650,000 per year and our energy consumption by 50 percent. HP Energy provided strategic advice to identify our most valuable energy savings opportunities, sources for lighting, and how to obtain an industry-leading manufacturer’s warranty and energy rebate.

Best Upon Request

Best Upon Request (WMBE)

Headquartered in Cincinnati, Ohio, Best Upon Request provides on-site concierge services to Fifth Third employees. This unique benefit aligns with our strategies to attract and retain top talent and foster a positive work environment. Employees can request help with everything from grocery shopping to dry cleaning and, most recently with the new Maternity Concierge, even plan for the arrival of a new child.


Up Next:

"In June 2017, Fifth Third committed to being an environmental sustainability leader by setting five bold goals, including achieving 100 percent renewable power by 2022. Just six months later, we signed a long-term power purchase agreement that will enable us to achieve our 100 percent goal four years ahead of schedule. That’s bold leadership that will benefit the environment and communities we serve."

Scott Hassell,
Director, Environmental Sustainability, Vice President

Take Accountability: Caring for the Planet >>

2017 Corporate Responsibility Report

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