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Fidelity Investments is expanding its New Hampshire workforce by roughly 20 percent despite high unemployment and economic upheaval – or rather because of it.
“Recent market volatility and an increasingly complex economic environment has driven millions of new and existing customers to open accounts, increase trading activity and contribute additional savings, resulting in an overall need for increased financial support and guidance,” said the company in a press release.
In fact, added a company spokesperson, in the second quarter – at the height of the pandemic – Fidelity saw a 24 percent increase in households engaged in planning interactions compared to the same quarter last year. Talking to a live person serves as a “calming voice” said the spokesperson.
Fidelity has already hired 500 in New Hampshire this year and increased its overall workforce by 15 percent.
But most of the new employees won’t be coming into Fidelity’s corporate headquarters in Merrimack or its smaller investing center in Nashua.
That’s because nearly 90 percent of the company’s workforce – currently at about 5,300 in New Hampshire – works from home and that will soon include new “client-facing” employees it is seeking to hire locally (4,000 nationally).
Fidelity is also seeking 1,000 college and university students for summer internships and another 500 college graduates to participate in its postgraduate training programs.
The new employees won’t just work remotely, they will be “onboarded” remotely and their training will be too. The company would ship the employee a laptop and other accessories so they could attend a virtual meeting as well as a virtual meet-and-greet, and there will be a guided 12-month “digital experience” that includes a peer buddy.
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