Affirmative Action Plans

Young & Associates offers Affirmative Action Planning Services to banks, credit unions and other financial institutions so that they may stay compliant with federal law.

What Is an Affirmative Action Plan?

An Affirmative Action Plan details a company’s intent to diversify its workforce and avoid bias in its hiring decisions.

The Department of Labor (DOL) and Office of Federal Contract Compliance Programs (OFCCP) interpret almost all financial institutions covered by FDIC insurance as federal contractors. Therefore, each covered institution is responsible for having an Affirmative Action Plan (AAP) if it  has 50 or more employees. The institution’s plan must cover women, minorities, individuals with disabilities, and protected veterans.

Affirmative Action Plan Requirements

Each affirmative action plan must be tailored to the institution’s hiring, recruiting and employment policies and practices, and employee and market demographics.  This includes the careful documentation of efforts related to the plan.

As Affirmative Action Plan consultants, Young & Associates offers a unique solution: We help institutions perform as much of the work as would fit their budgets and time. We educate and advise them on all aspects of the process.

This includes the vital and tough task of defining and classifying their jobs to fit narrow, standard federal descriptions and census information. Since many employees wear multiple, changing hats in financial institutions, Young & Associates’ extensive experience in and with them provides valuable advice in performing this task accurately and properly, not only for AAP’s but for all employment-related federal documents such as the EEO-1 and VETS-4212.

Young & Associates AAP services include:

• Compiling the entire plan
• Teaching clients a “do-it-yourself” approach
• Preparing:
  • Statistical reports for an existing AAP
  • Narrative templates to complete future AAPs
  • Compensation analyses of jobs and job groups
• Working with Human Resource Information Systems (HRIS) to track and monitor the information needed to complete Affirmative Action Plans
• Establishing tracking, monitoring, and auditing processes and procedures to assess AAP information, if HRIS does not exist
• Advising on:
  • EEO-1 and AAP Job and Job Group Classifications
  • Adverse Impacts
  • Placement Goals
  • Action-Oriented Programs
• Contact us to get started on an affirmative action plan for your financial institution or to learn more about our human resources consulting services.