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May 4, 2011

Richmond Fed Honored with Awards for Diversity Excellence and Best Recruitment, Engagement and Retention Practices

The Federal Reserve Bank of Richmond has received the Diversity Excellence Award and the Best Recruitment, Engagement and Retention Practices for large-sized businesses in the annual Employer All Star Awards. The awards are presented by the Richmond chapter of the Society for Human Resource Management, the Greater Richmond Chamber and the Richmond Times-Dispatch.

The Diversity Excellence Award recognizes employers who proactively work to improve workplace diversity and inclusiveness and who demonstrate commitment to the added value that diversity brings to an organization. The Best Recruitment, Engagement and Retention Practices Award recognizes employers with effective recruiting systems who give their employees a voice in the business strategy and decisions and show appreciation for employees through rewards and recognition.

"We understand the importance of our work for America's economy and the specialized skills we need to be successful in our mission. That's why finding and retaining the right people is a strategic priority for us," said Tammy Cummings, senior vice president and director of the Bank's Office of Diversity and Inclusion. "To do this, we embrace the importance of diversity and inclusion, and invest in developing a sustainable culture for it to thrive."

The Richmond Fed was recognized for its diverse recruiting strategies; the on-boarding process for new employees; leader and employee awareness sessions; and the Bank's total compensation philosophy. In addition, the Richmond Fed sponsors employee resource networks, which are voluntary employee-led groups formed around shared interests for the purpose of supporting diversity, inclusion and other strategic initiatives of the organization.

The Richmond Fed also was a finalist for the Employer of Choice Award and the Workforce Development Award. The Employer All Star Awards were presented May 4 at the Greater Richmond Convention Center.


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The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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Jim Strader
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