Prudential Invests in the Redevelopment of Newark
Steve Adubato goes One-on-One with John Strangfeld, Chairman and CEO of Prudential Financial, to discuss the social impact mission of Prudential and the ways in which Prudential has contributed to Newark’s redevelopment, such as investing in veterans and women in leadership.
"Steve Adubato here, this is One on One. and one of the most... I'll put it this way, a program where you see the most compelling, interesting folks around. The gentleman right here is John Strangfeld, who is Chairman and CEO of a little company called Prudential Financial. [laughter] The last time I talked to you we were at NJPAC. We had a great conversation about Prudential and your commitment... your commitment as well... as well as the company's to veterans and making an impact in people's lives... Could you do a little bit on the Veterans Initiatives? Happy to. So, when... thanks for having me back. Our pleasure. Veterans is an area we've been very, very focused on. The big challenge has been for those in the enlisted ranks who do not have academic credentials that corporate America normally seeks, and therefore they have a diffi... a great degree of difficulty entering into the workforce in corporate America. We designed a series of high intensity, six to nine month training programs, where, at the conclusion of which, they could have entry-level careers, not just jobs, entry-level careers in ops and technology. When we last spoke with you about it back in 2012, we had a series of pilots... That's right. ...in different parts of the country. We've now set up a new ops and tech center in El... An ops and tech center? An operation and tech center... Wow. ...in El Paso, Texas. Really? Across the street from Fort Bliss. And designed specifically to be facing off with this opportunity and learn how to do it well, and then... Wow. ...take those ideas elsewhere. Here's one other thing to offer you. Sure. Military spouses. A category we didn't even know existed. That's right. These are primarily women whose spouses are in the military. They seek jobs, but they get into this vicious cycle of... every time their spouse gets redeployed, reassigned to a different geography, they lose their job, they lose their benefits, they lose their vacation days, all this type of thing. What we've discovered is possible is to create a specifically dedicated training program for them, longer in duration, but at the conclusion of which, when that inevitable time comes and they get reassigned to some other geography, they can become a virtual employee at Pru. All of the benefits stay in place, all the seniority stays in place. Wow. They're completely wired from home, they love it, and it also then is a big contributor to the... you know, financial security of the the family, family stress, these types of things, it's been a terrific experience. By the way, can we... Jen..."