Workforce Development Spotlight: Bank of America and Symba

May 12, 2021

By: MENTOR

Workforce Development, Corporate Engagement

As we spread the message of the importance of mentoring in the workplace through our Workplace Equity Pledge, we’re spotlighting partners doing innovative and remarkable work in this arena. Here are thoughts from Bank of America and Symba, two partners who are reaching young people in the virtual internship space, a platform that has taken off in the past year because of the coronavirus.

Caitlin Bell, Bank of America’s Senior Vice President, ESG Program Manager, Bank of America Charitable Foundation talks about Bank of America’s programs that prepare young people for the workforce.

Bank of America has three summer programs for young people – the Student Leaders® program that provides students with paid internships at nonprofits, the Financial Center Internship program that gives students work experience at local banks, and a Summer Youth Employment Program through which the company partners with mayors’ offices and nonprofits to provide work experience for more than 3,000 young people. Together, these programs annually connect more than 4,300 youth to employment.

The Student Leaders® program, which connects approximately 300 high school juniors from nearly 100 communities to paid internships with nonprofits, has been in existence since 2004. What are some of the major changes you’ve seen in those 17 years?

“In 2004, we didn’t have a summit to bring all the students together. The focus was on their internships. We added a summit, and it’s definitely a very significant piece of the program. Students from all kinds of backgrounds come together – and our group gets more and more diverse each year. Through the peer-to-peer learning at the summit, we’ve seen our young people become more empowered, and more engaged in their communities and in the world around them…and the world is listening. Students are using their voices now even more than they did 17 years ago, and they are doing this to facilitate change.”

You’re lauded for your pivot to a virtual program during the pandemic. What are some of the most interesting things you learned from this transition?

“We turned on a dime and deliver project-based learning virtually, and we worked with MENTOR to build in mentoring components – how to be a mentor, and how to build in mentoring relationships and best practices to local markets. We learned there are opportunities to build engagement virtually, and that it’s important not to deliver an internship in a vacuum, but to build in opportunities for students to talk, to share, and to make those experiences important to them. It’s important to listen to what young people are writing about and what they see as most important and pressing.” 

What do you see the future looking like for our young people?

“The future for our young people is in the workplace – and it’s competitive. We’re going to see a future where our young people are already arriving deeply engaged, and using their voices.”

Ahva Sadeghi, CEO & Co-Founder, Symba, talks about her company’s innovative model to deliver virtual internships to students from all backgrounds.  

Symba is a tech startup company founded in 2018 by an all-female team. The platform matches interns with organizations and helps employers manage both remote and in-person internships. It levels the internship playing field by opening access to students from all types of backgrounds — no matter their financial means — to the best internships in the world. 

Tell me about your story and the creation of Symba. 

“I’m a first generation Iranian-American. When I was in college, I did six different internships with the State Department, Peace Corps, and various nonprofits. With each cohort, I noticed a lack of diversity and an inequality in socioeconomic representation. Internships are crucial to early workforce success, but many are unpaid or are in cities with high costs of living. How is this equitable for students who can’t afford to work for free or for small stipends? Less than 6% of paid internships go to Black interns, and only a fraction of them go to women. A lot of inequality in the workplace starts right there – at the internship. I’m so passionate about internships as a vehicle for change, that I started Symba to open access and equity. To date, we’ve helped facilitate over 5,000 internships globally using the power of virtual experiences to transcend geographical barriers.”

Since your founding in 2018, we’ve experienced a global pandemic. How has that changed your business? 

“We went from a ‘nice to have’ to a ‘have to have.’ When we started and we introduced the notion of remote internships to people, they said no, internships are all about being in-person. Now, companies are not only understanding the value, but they are redesigning their programs and having fun. Diversity, equity, and inclusion have come to the forefront during the pandemic, and overall, people are being more collaborative and supportive about mental health and other issues.  Companies are also pledging to upskill and reskill, and they’re using federal funding to purchase our platform.”

You’ve made a name for yourself as a leader in the virtual internship space. What’s behind your success? 

“We have deep knowledge and expertise, but I think the main driver of our success is that we build meaningful partnerships and value collaboration. We’re always trying to improve our offering, and we do this by listening and by the thoughtful relationships we’ve made with the people who use our product. Their voice makes an impact.”

What does the future hold for our young people in the workplace? 

“I definitely think there will be more global opportunities for our young people in the future – there will be a lot of initiatives that will break the boundaries created by visas. And the model of internships will be flipped on its head. Students will take on side gigs throughout the year, internships will be flexible for all kinds of people in the workplace or returning to the workplace. Internships will be skills-based and project-based, and they will be a great option for anyone changing careers, at any time.”