Leveraging internship programs and developing talent through a partnership model are the routes Baird Advisors has chosen to achieve its goal of increasing diversity. Its efforts have led to a diverse team that is 55% women, 46% millennials/Generation Z, 25% ethnically diverse and 15% who started as interns. Baird, whose internship program has evolved to attract more diverse talent, has created Associate Resource Groups that provide networking and career development opportunities and a stronger sense of community. The firm partners with All-In Milwaukee, which helps limited-income, high-potential students graduate from college. Several All-In Milwaukee students are interning with the team, along with students from other programs, including Girls Who Invest. Baird also has a long-term commitment to the Cristo Rey Jesuit High School internship program, which gives diverse students opportunities to gain work experience and confidence while earning money towards tuition. “I was promoted to managing director while pregnant with my fourth child,” said Meghan Dean, managing director and senior portfolio manager. “The message that women could ascend while raising a family was not lost on our younger female talent.”
Through Baird’s partnership model, younger associates collaborate with seasoned staff to accelerate skill development and encourage engagement. This creates an environment where associates feel valued, contributing to team success and leading to a historically low voluntary turnover rate, which was 1.58% for the past year.
Contacts: Mary Ellen Stanek, chief investment officer, at mstanek@rwbaird.com, or Warren Pierson, deputy chief investment officer, at wpierson@rwbaird.com.
— Evan Cooper