of the federal reserve bank of new york. the nonpartisan forum the mission is as important today as ever sharing diverse points of view of inclusion and

mutual understanding what the members of the centennial society that's for the club for the diverse program it's an honor for me to introduce our special guest and from 2011 serving the role they

with the coo of 2010 and birth in strategy. and on the capital with the new york department of financial services. there is the chief executives and for young americans who is currently a member of more

than 50 most powerful women in business or in new york for the fifth time. and with the chief executive officer and is a reminder this conversation so we will turn it oveto you. >> you so mh.

and in 2011 and as you say in your work they are what th are for us to follow so my question is and during these tumultuous times.

>> and to monitor this discussion thank you for inviting me to make you for introducing my new book and took me organize my thoughts the purpose driven company in with their policyholders on providing value to her policyholders and people are

attracted for when people die too soon and when they can't work and their family leave so it is a natural thing and those values for which you stated having work to do over the years and to ose the skills gap and when did this

idea came to the guard in 2008 and the fact we were upgraded not long after and i observed the number of people and then to come back down and i started to think to myself i want them to be a company that lays off a lot of people for

what's going on in the world with technological changes and then to keep as many people with us and so in 2012 and it seems it has been in the works. >> in the 2008 crisisut that is mh more costl to layoff

so what d i do with my talent and technology and what steps canhey take in response? >> that's a great set of questions. it cost a lot more money to lay people off and then to rescale someone in t same job and that makes a lot of sense so now we kw i won't be 100 percent but companies owe to their people and business leaders to do this

and yes it's how we do at scale andhose that are working on the answers to the question and our biggest prect and we didn't come back for nine months later. and the infrastructure in front of us so that technology platform and then to be the

cio. and from the da center infrastructure and many of them are given the choice and fortunately withhe new technology we developed a mber of programs that's not the only one meant to talk about the way they did i in

many large consulting firms so while it is possible, it's also possible. >> is not just technology to tell us about those programs. >> there is some people here to be in technology and to talk about the top ten skills of 2020 video design and videoconferencing in the

communicion skills and certainly they are important with the ceo of microsoft so need a combination of hard and soft skills. >> what are some of the obstacles you are facing with that task? >> i hear from other companies to rescale a scale.

's and that if we have a different skill set and then we figure out how to get those skills everything from working with your local community college but give room to fail and then finally because if you develop a learning culture and then to apply knowledge and then start looking for.

>> you speak about this culture because people will turn over's and say it is okay and then you go elsewhere and that is not a bad thing. but as someone says i don't want to do that and you talk about it as a moral imperative talk to us about that. >> of those who have lost our jobs of which we find

ourselves in the government cannot solve the problem entirely on its own and certainly the people affected to be a partner in this was some public-private partnerships to work on this issue and in terms of the people who leave i would say what if we don't? the world is moving so fast right now and you need an educated flexible workforce

and that it is incumbent on all of us. >> and public-private partnerships in terms of coming together to make that happen. >> it's very important to reach out in your local community with the partnership with community colleges around the country we start off saying we want to help you because we hired many people from community colleges and they turned out to be great assets so reaching out to the local community college which

is a fairly well-known story at this point. with a five year program and with that associate's degree in ibm hired a lot of those people. and then other companies can use. and in the cabinet make a business and said they could have trained cabinetmakers joined them. and small towns are being affected pretty hard right now.

smith again to give them apprenticeships or internships and then in terms of that training and necessary for the community college. >> with the inclusion and diversity so 50 percent of the interns come from the diverse backgrounds and we are finding that we admit people as i have their credentials on to train

them and we recently started a program to earn a bachelors degree online and we look at the statistics and by far a majority of women's and then in the first five years of their career and maybe they have a certificate from the community college's on to earn a college degree with a bone crushing debt and to make our population much more

reflective it's a win for the customers and sometimes you have to have our clients look at people differently and we are still stacking different backgrounds before that four-year degree and of e different background. and to do a lot the research and data four-year college degree is a great thing however sometimes it

doesn't teach you necsarily the skills that you need for the job if you don't hav a four-year college degre degree's but from prevus times to be left out and that is just not theour-year degree the whether they have that degree or not. and for companies to identify the skills there is a ways to go and then to put more people

to work and to move faster in th environment it doesn't and when you walk across the stage and getour diploma. >> in theearning environment and to be mentored by others in the that training on that part of people's it's important in any learning culture and the way they help

the organization and we do a lot of internet but now with the law the veterans we have those that have volunteered to be mentors for veterans are great examples of people and then to bring it to life.

and then working virtually but in success with the increase the productivity then to bring them into the organization. and as they were debating if it is really happening in this remote environment that has not been done yet. but we have to find new ways to mentor if we will be totally successful.

>> because the challenges at this point. >> and this starts tomorrow there will be failures and one of the failures and not everyone will sign up and another misconception that we have found that not to be true at all. but many long-term employees could make the transition.

and look at emploes that were successful with that data driven jobs so the number one and characteristic and as a matter of fact 50 -year-olds and the most success in the mistake that companies often make andn the other side and the 85 million jobs and there

is research that is just out and there are other estimates that if you think through the experience and we all have to learn the skills before six or nine months ago as we were discussing before the call. and those that learn new skills of lasix treatments but

then you think about the acceleration that happen because of covid-19 and it continues to happen and for every ceo that told me those we want to change we rolled up between three and six months. and how you get those 85 million jobs. and then they are changing rapidly. business and government and that's how we will get through this and with the tremendous

financial pressure and those that are coming in retaining people it is a balancing act for the ceos what you see and what you are doing we have been fortunate our guardian we don'have the pressure from some industries like people in entertainment or the airline business front at some point that is larger and to come to

rhode island or this is not a partisan issue and i have heard examples a we have to get involved and engage with business. and just on the precipi before. and what do we see the

woforce of tomorrow and what that might look like? >> that is all still evolving do we have to have office buildings or do we go remote? i personally don't see me 100 percent remote but there will be more than was in the past. but to have flexible hours and locations. and those we were more to be but and then to have

camaraderie to pass up the corporate culture and build that culture and relationships. and then to be productive as a society and then it remains to be seen. and then they want to experience closure and there will be the unforeseen impact the what they are looking forward and working remotely.

>> we are very close to our employees and from what we have heard and then to encourage them and you don't want people to burn out where they are in with homeschooling

and those breeding programs relative friends and loved ones the program on the fly speaker people looking forward to getting back together with the social interaction in a safe way. >> and with that advisory council and what you learned from it and what we need to focus on.

>> part of the advisory council. and with the treasury and department of education. and the outside of the government. and one of the things we decided we were talking about is the ability for young people to manage their finances so working on the advisory council got me thinking how do we make sure we brought students from a community college bringing

literacy to the advisory council meeting and they brought us to reality and the difficulties to transportation in computers and it was very interesting. and those who did a wonderful job finding their way to dc. and it's just a microcosm and

that just shows how important it is to bring people in who have had a lot and the leaders had to step up what do you see that as well? and in 2008 and doing good in the world with the social mission of companies from a

little known year ago but to be seen a financial services company so that was a little counterculture. and what really sticks with me we were facing an operation that we had and then using machines and scanning that in.

and then to be worried what would happen to them. and some of them because they were close to retirement and because they have other plans and then start a business with my brother. one of our community college partners was very helpful to us. not certificate they can take to requalify no one in my

family went to college and until a beak went to guardian i believe i can do this. that the corporations can do anything at the expense and then to change their families life it's important but it takes a little more time and planning.

in terms of rescaling. so any parting words of advice? and those that we should focus on today? thank you to john and barbara. anybody who is thinking about doing this and then to solve one problem. so expect failure and will commit.

and if you are senior executive and then to try new things. >> any insights into what is next for you? but i would say looking ahead for the outline today is in whatever form that might take and those discussions we all need to take charge of.

>> thank you this was a terrific conversation and with that learning journey and thank you to both of you for participating

participating. >> good evening everyone. welcome to this evenings virtual conversation. by doctor robert p-letter jones the legacy of white supremacy. i am the executive director