As an accounting major at University of Guelph, Jasmeen Sidhu got a good look at the career opportunities at Toronto-based Fidelity Investments Canada. She did three co-op terms in her final three years as a student – each time working in a different department.
“That’s what kept me coming back,” says Sidhu, who has started her career as a financial analyst. “I knew I would be able to explore new areas of the company.”
Fidelity hires, on average, 48 students for its fall and winter programs. In the summer, it’s typically closer to 60. “We’re looking to build talent pools that we can tap into,” says Linda Passarelli, vice-president of talent management. “We’re invested in the success of our young people. They’re the future of our success as a company.”
Each cohort receives a week of training to develop various skills including etiquette, networking and presentation skills. For the latter, says Passarelli, the company retains a leading outside expert. As well, managers and senior executives from various departments address the students.
“It was really eye-opening,” says Sidhu. “You were exposed to the whole company.” The company organizes weekly events through each four-month co-op program, including networking gatherings with hiring managers. Fidelity also holds a case competition in which students working in teams are given a real business problem to solve.
“They present their solutions in front of senior executives and the top three teams get to present to the presidents,” says Passarelli. “The students blow you away with their intelligence, research skills and creativity.”
Fidelity has a multi-level training program for young people who are starting their careers in sales. They deal with banks, credit unions and other financial institutions, as well as independent financial advisers who sell Fidelity mutual funds to the public.
Each level involves four to five weeks of instruction spread out over several months. At the end of a session, the company holds a graduation dinner. “The program takes them from the most junior role right to the top,” says Passarelli. “We’re always looking at our internal sales talent pipeline to fill any role that comes up.”
Fidelity provides tuition reimbursement for employees pursuing professional accreditations such as certified financial analyst. Fidelity also covers the cost for conferences and training related to developing skills.
The company has a voluntary mentorship program for younger employees. “We encourage them to apply right away so they get support throughout the organization,” says Passarelli. “Mentors come from all levels. A lot of senior executives have also signed up to receive mentorship from our younger employees.”
In 2020, the COVID-19 pandemic presented a unique challenge to a company that promotes training, mentoring and networking opportunities for employees and co-op students alike. Fidelity honoured the commitment made to the 58 students for summer employment. With almost everyone working from home, the leadership team has adapted to “keep a sense of community with everyone dispersed,” as Passarelli puts it. They’ve made public speakers available virtually, distributed food gift cards and given everyone a “thank you day” – an extra paid day off.
In at least one case, employees have stepped into the breach. Early on, Jasmeen started a “coffee walk” chat group with several young colleagues she normally gets together with for a mid-afternoon coffee break. They started as a group of four or five who connected on Tuesday and Thursday afternoons.
“On Thursday we started inviting a special guest and the group has grown every time,” says Sidhu. “Our CEO and other members of the senior management team have dropped in. They’ve found it a great way to reach out to employees.”
