ROBERT W. BAIRD & CO. 777 East Wisconsin Avenue Milwaukee, WI 53202 Phone: (800) RW-Baird www.rwbaird.com CAMPUS RECRUITMENT Dana Ernst Corporate Recruiter www.bairdcareers.com LOCATIONS More than 100 in the United States, Europe and Asia STRATEGIC PLAN AND DIVERSITY LEADERSHIP What trends in your industry affect your corporate diversity goals, strategies and/or internal or external alliances? To be successful in an increasingly competitive marketplace, Baird must continue to raise the bar for itself to maintain our standing as a world-class firm and as a best place to work. Our ability to attract, retain and develop the best talent, and our passion for achieving superior results for our clients and associates are all crucial to our success. These are among the many reasons why we are committed to the continued pursuit of a culture of diversity that focuses on our clients, our associates and the communities we serve. How does the firm s leadership communicate the importance of diversity to everyone at the firm? Firm leadership is active in communicating the importance of diversity to the entire firm at all levels, from events geared toward all associates to more intimate senior management and department meetings. The firm s diversity efforts are discussed during Chairman, President and CEO Paul Purcell s keynote addresses at Baird s Annual Meeting for All Associates. It was also the topic of a quarterly Baird Business Update for associates led by Paul Purcell and Mary Ellen Stanek, managing director and chief investment officer of Baird Advisors, and the topic of a Wealth Matters TV Series in December 2008 led by Mike Schroeder, director of private wealth management. At that event, an in-depth discussion of Baird s diversity efforts was followed by an open Q&A. In addition, the firm s commitment to diversity is reiterated in the Baird Annual Report. Periodic emails and memos from Paul Purcell, articles 262 2009 Vault.com, Inc.
in our online employee newsletter and postings on Baird s internal site Bairdweb continue to keep associates informed of progress on the diversity front. Who has primary responsibility for leading diversity initiatives at your firm? Paul Purcell, Baird s chairman, president and CEO, is committed to supporting diversity efforts at our firm. As part of that commitment, Baird established a diversity steering committee and business diversity council. Does your firm currently have a diversity committee? Yes. Please describe how the committee is structured, how often it meets, etc. Established in 2005, Baird s diversity steering committee is a group of 10 senior leaders at the firm who have been charged with developing a firmwide diversity strategy. The committee meets quarterly and is chaired by Mary Ellen Stanek, managing director and chief investment officer of Baird Advisors. The committee selected 20 thought leaders from throughout the firm to form the business diversity council which provides direction and feedback on the firm s diversity efforts. The business diversity council meets monthly. Does the committee s representation include one or more members of the firm s management/executive committee (or the equivalent)? Yes. Does the committee and/or diversity leader establish and set goals or objectives consistent with management s priorities? Yes. Has the firm undertaken a formal or informal diversity program or set of initiatives aimed at increasing the diversity of the firm? Yes, formal. How often does the firm s management review the firm s diversity progress/results? Ongoing. Visit Vault at www.vault.com for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 263
How is the firm s diversity committee and/or firm management held accountable for achieving results? As part of their year-end reviews with Paul Purcell, Baird s chairman, president and CEO, senior leaders are asked a series of questions related to the firm s diversity efforts, including what they are doing to promote and develop a diverse population. RETENTION & PROFESSIONAL DEVELOPMENT Please identify the specific steps you are taking to reduce the attrition rate of minority and women employees. Develop and/or support internal employee affinity groups Increase/review compensation relative to competition Increase/improve current work/life programs Adopt dispute resolution process Succession plan includes emphasis on diversity Work with minority and women employees to develop personal career advancement plans Strengthen mentoring program for all employees, including minorities and women Professional skills development program, including minority and women employees Connecting with Women at Baird. RECRUITING Please list the schools/types of schools at which you recruit. Ivy League schools: All eight Ivy League schools Other private schools: Top 20 Public state schools: Top 20 Historically Black colleges and universities (HBCUs): Hampton College, Morehouse College, Spelman College Other predominantly minority and/or women s colleges: Alverno College Do you have any special outreach efforts directed to encourage minority students and graduates to consider your firm? Hold a reception for minority students: UW-Madison Women in Business, Marquette University s Multicultural Business Organization and INROADS students participating in our intern program. 264 2009 Vault.com, Inc.
Conferences: National Black MBA, Reaching Out LGBT MBA Advertise in minority student association publication(s) or other minority-focused publications: Baird posts internships with the Hispanic Chambers of Commerce (HCC) Participate in/host minority student job fair(s) or other minority-focused job events. Sponsor minority student association events Firm s employees participate on career panels at school Outreach to leadership of minority student organizations Scholarships or intern/fellowships for minority students What activities does the firm undertake to attract minority and women employees? Partner programs with women and minority associations Conferences: National Black MBA, Reaching Out LGBT MBA Participate at minority job fairs Seek referrals from other employees Utilize online job services Established two new associate resource groups: ARG-Women and ARG-African American Do you use executive recruiting/search firms to seek to identify new diversity hires? Yes. INTERNSHIPS AND CO-OPS Baird s Summer Internship Program Deadline for application: Varies Number of interns in the program in summer 2008: 87 Pay: Varies by position Length of the program: Varies Website for internship/co-op information: www.bairdcareers.com Visit Vault at www.vault.com for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 265
Each year, Baird hires summer interns to work in our Milwaukee and Chicago offices in various business units as well as branch offices throughout the firm. We recruit interns from local universities, diversity job fairs on college campuses and through INROADS, a nonprofit career development organization that trains and develops talented minority students for corporate and community leadership. Over the years, we have hired several students from the INROADS program. In 2008, 65 percent of our summer interns were women or people of color, and the program grew to 87 interns, up from 19 in 2005. In addition, 12 of the 2007 interns who graduated college last year accepted full-time jobs at Baird. Of those 12 new associates, 33 percent are women and/or people of color. In 2008, a total of $10,000 in scholarship funds was awarded to interns through the Baird Summer Internship Scholarship Program. Baird s Summer Internship Program received the 2006 Corporate Sponsorship of the Year award from INROADS. In 2008, Baird Corporate Recruiter Dana Ernst was recognized by INROADS as the Business Coordinator of the Year. Cristo Rey Jesuit High School Internship Program Number of interns in the program: Seven Length of the program: During the school year Baird participates in the Cristo Rey Jesuit High School internship program, which gives students the opportunity to experience life in the business world while earning money toward tuition. Students spend one day each week and one extra day per month working for participating firms including Baird s Chicago and Cleveland offices where they gain experience to list on college applications and future resumes. Cristo Rey students working at Baird also learn about the financial services industry and career options in the field. Cristo Rey students who complete the internship program have been offered positions at Baird while they complete their college education. SCHOLARSHIPS The Fellowship at the University of Chicago Booth School of Business Scholarship award amount: Full tuition The fellowship is dedicated to inspiring women to pursue leadership careers in the financial services industry by increasing their access to exceptional business education, highly regarded mentors and key business networks. By leveraging matching funds for the Graduate School of Business, the fellowship includes full 266 2009 Vault.com, Inc.
tuition as well as the opportunity to work with Baird mentors and a paid Baird summer internship. Baird Scholarships Awarded through the University of Wisconsin s Women in Business Student Organization Scholarship award amount: Three $1,000 scholarships per year Baird is a platinum sponsor of the University of Wisconsin-Madison Women in Business student group, and for the past two years has funded three scholarships each year. Created to inspire women to pursue leadership careers in the financial services industry, the Baird scholarships include a one-time grant of $1,000 to be used for tuition or school-related expenses, as well as an opportunity to work with a Baird mentor. Baird also provides funding to Women in Business to support programming and guest speakers. Robert W. Baird Honors College Scholarship Fund at the University of Wisconsin-Milwaukee The scholarships were created to help students in the Honors College deserving women and minorities especially realize their academic and professional goals. To qualify for the program, students must complete 21 credits of specialized liberal artsoriented honors coursework and graduate with a 3.5 or better to receive the university s high distinction. Scholarships and Fellowship at the University of Notre Dame Scholarship award amount: Two $2,000 scholarships per year, one Fellowship of $20,000 per year In 2009, Baird formed a new partnership with the University of Notre Dame to provide graduate and undergraduate students with fellowship and scholarship opportunities for the next five years. The relationship annually includes an MBA fellowship, and two undergraduate needs-based scholarships, worth $2,000 each, with preference given to underrepresented populations and first generation college participants. Scholarships to Marquette University s Multicultural Business Organization Scholarship award amount: Three $1,000 scholarships per year In 2009, Baird also formed a partnership with Marquette University to provide three $1,000 scholarships to students involved in the Multicultural Business Organization, Visit Vault at www.vault.com for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 267
a group in which members gain perspective into a variety of different backgrounds in order to sharpen their understanding of the business world. Baird Summer Internship Scholarship Program Scholarship award amount: $250, $500 or $1,000 The scholarships were created to help students who participate in Baird s summer internship program. In 2008, a total of $10,000 was awarded to Baird interns based on their participation in the internship program, GPA, performance, letters of recommendation and community service. AFFINITY GROUPS Currently, we are rolling out several associate resource groups. The groups will be made up of associates with common interests so they may have opportunities to network, promote personal and professional growth, and enhance career development. Based on a survey sent to associates last year, we are rolling out the following associate resource groups: ARG (Women) ARG (African-American) ARG (Community involvement) ARG (Going Green) DIVERSITY MISSION STATEMENT Baird s commitment to diversity Baird is committed to diversity for our clients, for Baird associates and for the communities in which we live and work. This commitment is in keeping with our culture of integrity, our genuine concern for clients and fellow associates and our respect for the individual. Our commitment to diversity includes providing opportunities for every individual to advance professionally and personally regardless of gender, race, color, age, religious affiliation, nationality, sexual orientation or physical ability, which are just some of the differences that make each of us unique. Responsibility for creating a diverse organization begins with our executive management team and continues throughout our entire organization. Baird recognizes that a diverse team allows us to better understand our clients and associates needs and enhances our ability to develop creative solutions for how those 268 2009 Vault.com, Inc.
needs can best be met. We have created an environment where differences are understood, respected and valued and where diversity unites, rather than divides, us. Baird has long been active in helping individuals of all backgrounds achieve their personal best. For our associates, this includes initiatives in work/life balance, leadership training, recruitment, scholarships, internships, mentoring and networking. Baird and our associates also support a wide variety of community initiatives aimed at promoting diversity. Our community involvement allows us to play an active role in shaping the communities in which we live and work today and want to serve in the future. Baird s culture, our ability to attract, retain and develop the best talent, and our passion for achieving superior results for our clients and associates are all crucial to our success. These are among the many reasons why we are committed to the continued pursuit of a culture of diversity that focuses on our clients, our associates and the communities we serve. ADDITIONAL INFORMAITON Baird is committed to being a great place to work for all associates, regardless of gender, race, color, age, religious affiliation, nationality, sexual orientation or physical ability. These efforts have earned Baird awards and recognition from a variety of third parties. Baird has been named to the Fortune 100 Best Companies to Work For list for six consecutive years and has also been recognized by the following publications for having a great place to work: Crain s Chicago Business Milwaukee magazine The Business Journal Serving Greater Milwaukee Corporate Report Wisconsin Visit Vault at www.vault.com for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 269