Get Hired with Andrew Seaman Inside Bank of America’s $25 Minimum Wage and Mental Wellness Initiatives
Sep 17, 2025
Sheri Bronstein, Chief People Officer at Bank of America, discusses the groundbreaking $25/hour minimum wage initiative aimed at boosting employee well-being. She explains how prioritizing mental health and wellness translates into better customer service and retention. The conversation delves into the significance of upskilling and reskilling employees in an AI-driven landscape. Sheri also highlights the shift towards skills-based hiring, promoting internal mobility and the evolving criteria necessary for today’s job market.
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Raise The Pay Floor To Reduce Turnover
- Move your pay floor so employees can live on their wages and focus on customers.
- Investing in a $25/hr minimum reduces turnover and improves service, Bank of America found.
Long Tenures Lead To Top Roles
- Bank of America celebrates employees with 40–50 year tenures and promotes internal growth.
- People can start at 18 and potentially rise to CEO, showing long-term career paths exist.
Use Sabbaticals To Reenergize Employees
- Offer multi-week sabbaticals to re-energize long-tenured employees and reduce mid-career attrition.
- Time away (four to six weeks) returned refreshed employees and strong uptake across the company.