Latest / The Diversity Career Podcast with Fexingo: Inclusion, Equity, and Underrepresented Professionals / How JPMorgan Chase Built a Second-Chance Career Pipeline
Transcript
- Lucas: So there are roughly 70 million Americans with a criminal record—about one in three adults. And the majority of them face significant barriers to employment, even after they've served their time. But over the past few years, a handful of large employers have started treating this less like a risk and more like an untapped talent pool. Luna: That's a massive number. And it's not just about giving someone a second chance—it's about real career paths, not just a job sweeping floors. Lucas: Exactly. JPMorgan Chase launched its Second Chance program back in 2018, and by the end of 2025 they had hired over 10,000 people with criminal records. That's not just a PR number—they've built a whole pipeline. Luna: Ten thousand is huge. How does it actually work? Are they hiring into specific roles, or is it across the board? Lucas: It starts in entry-level positions—call center, branch teller, operations, even some corporate roles. But the key is that they partner with community organizations like the Fortune Society and the Center for Employment Opportunities to pre-screen candidates, provide soft skills training, and match people to roles where they're likely to succeed. Luna: And then what about advancement? Can someone who came in as a teller move up to a management track? Lucas: That's the whole point. JPMorgan tracks retention and promotion data. They've found that second-chance hires have 5 percent higher retention rates after three years compared to their general workforce. And they're promoting from within at similar rates—roughly 40 percent of those hires have moved into higher-level roles. Luna: That's a strong business case. Lower turnover is real money. But I wonder—what about the stigma from colleagues or customers? That must be a hurdle. Lucas: Absolutely. And JPMorgan doesn't just drop someone into a team without preparation. They have manager training sessions that address unconscious bias around criminal records. They also offer peer support groups within the company. One of the first things they did was create a 'fair chance' employee resource group. Luna: Have other banks followed suit? Lucas: Yes, Bank of America has a similar program called 'ReEntry,' and Wells Fargo has one too. But JPMorgan is one of the few that publicly reports numbers. In 2024, they exceeded their original goal of hiring 10,000 by 2025 ahead of schedule, so they set a new target of 20,000 by 2030. Luna: That is ambitious. I love that they're being transparent with the numbers—it holds them accountable. But let's talk about something else: these programs often focus on entry-level roles. What about mid-career professionals with records? Lucas: Good point. Most second-chance hiring is concentrated in lower-skill jobs. JPMorgan has started piloting pathways into IT and financial analysis through partnerships with coding bootcamps that specifically work with formerly incarcerated individuals. It's small scale, but they're trying. Luna: That's where the real career mobility happens. If someone can go from a call center to a software developer role, that's transformative. Lucas: You know, it reminds me why we do this podcast. If you've ever thought about how career advice and access to opportunity can change someone's life trajectory—that's the space we try to occupy. We keep this show free and ad-free because we believe that kind of information should be accessible to everyone, regardless of background. Luna: Exactly. And if this episode has given you a new perspective or a concrete idea you can use—whether you're an HR leader or a job seeker—consider supporting the show. A small monthly contribution at buy me a coffee dot com slash fexingo helps us keep doing deep dives like this. Lucas: No pressure at all. But it does make a difference. Alright, back to JPMorgan. One specific story I love is about a man named Carlos—he had a felony drug conviction, spent seven years in prison. He started as a teller in a Brooklyn branch, and within three years he was a branch manager. He now mentors new hires in the program. Luna: That's the kind of story that makes the business case real. It's not just a number—it's someone's career. Lucas: Right. And the bank sees that as a recruitment advantage. They've found that second-chance employees tend to be more loyal and more engaged because they feel the company invested in them when others wouldn't. Luna: Are there any challenges on the legal side? Certain industries have regulations that ban hiring people with certain convictions—banking included. Lucas: Yes, the banking industry has 'fit and proper' standards from regulators. JPMorgan has a compliance team that reviews each hire case by case. They focus on how long ago the conviction was, its relevance to the role, and evidence of rehabilitation. It's not a blanket policy. Luna: So it's not just about being 'nice'—it's a rigorous process. Lucas: Exactly. And that's what other companies can learn from. It's not just a checkbox. You need real infrastructure: partnerships, training, legal review, and internal champions. But the payoff is a diversified workforce and a talent pool most companies ignore. Luna: So what's the one thing you'd tell a hiring manager at a medium-sized company who wants to start a second-chance program? Lucas: Start small. Partner with a local nonprofit that works with reentry populations. Pick one role—maybe a warehouse position or a customer service role—and build a pilot. Track everything: retention, performance, promotion rates. Then use that data to expand. Luna: That feels actionable. I also think it's important to get buy-in from senior leadership early, so the program has the resources to succeed. Lucas: Absolutely. JPMorgan's CEO Jamie Dimon has been outspoken about second-chance hiring, which gives it visibility internally. Without that top-down support, these programs often fizzle. Luna: Looking ahead—what's next for this space? Are there any emerging trends? Lucas: I think we'll see more companies using AI to screen out criminal record bias automatically. And there's growing interest in 'ban the box' legislation that removes the conviction checkbox from job applications. But ultimately, the most effective change is cultural—and that takes time. Luna: One more thing: we've focused on the corporate side, but what about entrepreneurship? Are there programs that help formerly incarcerated people start businesses? Lucas: Great question. There are nonprofits like Defy Ventures that offer entrepreneurship training. Some companies, like Uncommon Brands, are even hiring people with records to run their operations. But JPMorgan's program is primarily about employment within the bank, not starting a business. Luna: Fair enough. It's a start. And as we've seen, a job in a bank can be a launchpad for much more. Lucas: Exactly. So to sum up: JPMorgan's Second Chance program proves that hiring people with criminal records isn't just altruism—it's good for business. With 10,000 hires and counting, they've shown that career pathways for formerly incarcerated individuals are both scalable and sustainable. Luna: And for anyone listening who's hiring—think about what you might be missing by overlooking this talent pool. It's a competitive advantage, not a charity case. Lucas: Well said, Luna. That's all for today. We'll be back next week with another story of inclusion and career mobility.