Why Jamie Dimon, Walmart and McDonald’s Want to Hire Ex-Convicts
The more than 70 million Americans with criminal records may be a valuable pool of employees as companies juggle labor shortages and jockey for more diverse workforces.
Jamie Dimon and Eaton Corp. CEO Craig Arnold are co-chairs of an initiative to help ex-convicts land jobs at top U.S. companies.
Photographer: Mark Wilson/Getty Images
JPMorgan Chase & Co. CEO Jamie Dimon has been preaching the benefits of hiring people with criminal records for years. But with the whiplash effect of the Covid-19 pandemic spawning complaints of labor shortages across the U.S. economy, more companies are buying into the idea.
Dimon is teaming up with Craig Arnold, the chief executive officer of electrical-equipment manufacturer Eaton Corp., to co-chair an initiative that aims to foster employment opportunities for Americans with criminal records and provide a forum for member companies to share resources and advice. Other corporate participants in the Second Chance Business Coalition announced on Monday include railroad Union Pacific Corp., Best Buy Co., Microsoft Corp., General Motors Co., Bank of America Corp., McDonald’s Corp. and Walmart Inc. It's a who’s who of corporate America, and that makes this commitment incredibly striking. In total, the nearly 30 publicly traded members have a combined market value of $6.8 trillion — more than enough to make a real difference in how former convicts are treated in the hiring process.