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Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond

Updated July 2024.

78%

Employees say this is a great place to work

Company Overview

About The Company

The Richmond Fed works to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District—including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia—to monitor economics conditions, address issues facing our communities, and share information with monetary and financial policy makers. We work with banks to ensure they are operating safely and soundly, supply financial institutions with currency fit for distribution, and provide a safe and efficient way to transfer funds through our nation's payment system.

COMPANY SIZE

3,215 U.S.-based Employees
(Large)

Industry

Financial Services & Insurance

HQ Location

Richmond, VA, US

Company Culture at Federal Reserve Bank of Richmond

The employee experience below at Federal Reserve Bank of Richmond, compared to a typical company.

Learn More

78% of employees at Federal Reserve Bank of Richmond say it is a great place to work compared to 57% of employees at a typical U.S.-based company.

  • Federal Reserve Bank of Richmond
  • 78%
  • Typical Company
  • 57%
92%
I am able to take time off from work when I think it's necessary.
89%
When you join the company, you are made to feel welcome.
88%
I feel good about the ways we contribute to the community.
87%
We have special and unique benefits here.
85%
I am given the resources and equipment to do my job.

Why Work at Federal Reserve Bank of Richmond?

See what employees say about what makes Federal Reserve Bank of Richmond a great workplace. These words are drawn from employee comments on the Trust Index™ survey.


What is the advantage of ÒÝß[ŠÊ˜·³Ç?

Organizations partner with ÒÝß[ŠÊ˜·³Ç to understand how effectively their leaders create the conditions for an overwhelmingly positive employee experience. ÒÝß[ŠÊ˜·³Ç offers best-in-class data about the employee experience, sourced from surveys taken by millions of employees globally. This data offers organizations invaluable insight into how their workers will interact with the workplace and establishes benchmarks for working conditions around the world.

ÒÝß[ŠÊ˜·³Ç’s employee-centric view of the workplace was revolutionary 30 years ago. Today, our Trust Modelâ„¢ offers an unmatched opportunity to identify what’s happening within your organization. ÒÝß[ŠÊ˜·³Ç’s survey and analysis gives employers the ability to measure and track employee experience against key metrics and industry leaders.

Earning ÒÝß[ŠÊ˜·³Ç Certification has many benefits, including:

  • Better recruitment metrics such as offer acceptance rate
  • Higher business profitability
  • Automatic Best Workplacesâ„¢ award eligibility
  • Greater employer brand awareness 
  • Improved employee trust
  • Higher retention: 51% higher than a typical U.S. workplace
  • Greater employee pride in the company
  • Recognition for having great people managers and leaders
What are the ÒÝß[ŠÊ˜·³Ç evaluation criteria?

ÒÝß[ŠÊ˜·³Ç Certification criteria are the global standard for quantifying and benchmarking the employee experience. Using the ÒÝß[ŠÊ˜·³Ç Trust Model and the Trust Index Survey, Certification evaluates workplace culture from the perspective that matters the most — the employee — offering the most comprehensive picture on the market of the internal health of an organization.

To be considered for Certification, organizations must have 10 or more employees and must complete a two-step process: 

  1. Survey employees with the Trust Index Survey.
  2. Complete the Culture Briefâ„¢, a company questionnaire. 

Positive employee responses to the Trust Index Survey (four and above on the five-point scale) are averaged to provide an organization-wide assessment of culture: the Trust Index. Companies that score above the current threshold become ÒÝß[ŠÊ˜·³Ç Certified.

Surveys must meet strict requirements for how they are distributed and the percentage of employees who respond to ensure they accurately represent feedback from the company’s full population. 

How do we know if we earned Certification?

To earn Great Place To  Work Certification, the average score across your survey results must show that approximately 7 out of 10 of your employees are having a consistently positive experience at work.

Once you are Certified, you will receive an email from us with access to your survey scores, digital Certification badge, a toolkit of social media images, and press materials with shareable content. As an extra benefit, your organization will automatically be eligible for all our award lists through the entire 12-month period your Certification is valid.

How many questions are on the employee survey?
Employees answer 14 demographic questions and respond to 60 statements across a five-point consistency scale as well as two open-ended questions. Employees generally take 10 to 20 minutes to complete the survey.
What is the ÒÝß[ŠÊ˜·³Ç survey measuring?

In broad terms, the ÒÝß[ŠÊ˜·³Ç Trust Indexâ„¢ Survey measures the level of trust in your organization and the consistency of the employee experience. In other words: How often can employees count on something happening in their workplace, such as clear and honest leadership, fair treatment, and employee recognition?

More specifically, the ÒÝß[ŠÊ˜·³Ç Trust Index Survey measures individual employee experiences of five dimensions of a high-trust company culture through 60 statements and two open-ended questions. Three of the dimensions are connected to the actions of leaders and building trust: credibility, respect, and fairness. The other two dimensions measure the workplace experience of employees in relation to their colleagues and the wider organization: pride and a sense of belonging.

These five dimensions create a workplace culture where employees feel empowered and encouraged to do their most meaningful work. High-trust cultures are shown in ÒÝß[ŠÊ˜·³Ç research to outperform their competitors in recruitment and retention, productivity and innovation, and financial performance.  

Survey answers are assessed on a five-point scale, revealing the most common experience of employees in the organization. Employee scores are averaged to provide an organization-wide assessment of workplace culture: the Trust Index score.