Comerica Incorporated : Corporate Responsibility Report (Colleagues)
CMA
Published on 07/02/2025 at 11:37
CEO
Letter
About This Report
About Comerica
Corporate Responsibility at Comerica
Customers Colleagues Inclusion Community Environment
Responsible Business
Additional Information
Our success at Comerica is a direct result of the hard work and dedication of our colleagues.
Collaboration across departments is key, and together we are creating a unified, innovative and productive workplace. Our Core Value of 'One Comerica' exemplifies our commitment to provide all colleagues with opportunities for growth and development. By investing in training, mentoring and career advancement, we are helping our employees reach their full potential. By championing innovation and a shared dedication to our customers and communities, we empower our team to achieve successful results and ensure Comerica continues to be a company where talent thrives and ambitions are realized.
Megan Burkhart
Senior Executive Vice President, Chief Administrative Officer
Talent Attraction 32
Learning and Development 33
Employee Engagement 35
Compensation and Benefits 37
2024 Comerica Corporate Responsibility Report 30
Our promise of exceeding customer expectations starts with one of our greatest strengths - our more than 7,500 talented colleagues. We strive to make Comerica a great place to work. Our efforts focus on attracting, engaging and retaining top talent by fostering a respectful and inclusive workplace and culture, and by communicating regularly, openly and honestly. We invest in our people, empowering them through opportunities to adapt, develop, innovate and grow in their careers.
Our Core Values are particularly significant to our colleagues, as these values describe how we work together to deliver on the Comerica Promise to raise expectations:
The Customer
2024 Achievements: A Great Return on Colleague Investment
One Comerica
We believe growth is achieved when our colleagues act with common purpose in support of our shared goals.
Comes First
We put our customers at the center of every conversation and make their satisfaction our highest priority.
11 years
average tenure
35%
of the approximately 2,216 open colleague positions filled by internal hires
84%
2023 sustainable engagement favorability score
The Bigger Possible
A Force for Good
2024 Workforce at a Glance: Our Team
We encourage a culture of bold and relentless curiosity, where any idea has a
We value empathy and integrity as we work to support a more inclusive and
7,565
363
chance to be heard. sustainable workplace and world.
Comerica full-time
U.S. colleagues
Comerica part-time
U.S. colleagues
Trust. Act. Own.
Everyone is empowered to do what's right, speak up and be heard while being accountable for their actions and commitments.
For more metrics on our workforce, view our Colleagues Key Metrics Table.
Our colleagues understand and are committed to executing on these values. In turn, we enable our colleagues to thrive at work and in their daily lives with continuous learning and engagement opportunities, comprehensive benefits and competitive compensation programs.
CEO
Letter
About This Report
About Comerica
Corporate Responsibility at Comerica
Customers
Colleagues
Inclusion
Community
Environment
Responsible Business
Additional Information
We use a variety of creative recruitment strategies to attract top talent. Our wages and benefits are competitive, and we invest in innovative tools and programs to identify qualified candidates with appropriate skill sets and values.
We measure our talent acquisition strategy success on speed and quality of acquisition, inclusion of the applicant pool, new colleague retention and the experience we provide to our candidates and hiring managers alike. Overall performance metrics are tracked for each key business line. We regularly evaluate and modify our sourcing strategies and support structures to ensure that we consistently meet performance targets.
For the second consecutive year, Comerica set a record for the most annual applications received in a single year, with an increase of 4% year-over-year in candidates applying to
2024 Hiring Achievement
increase in applicants compared to 2023 (new enterprise record)
Summer Internships
days to fill open positions
Our Colleagues Are Our Greatest Source of Talent:
Our #1 source of hire is our existing workforce with 35% of open colleague positions filled in 2024 being internal hires.
Our #2 source of hire is colleague referrals with approximately 21% of all hires coming from colleague referrals.
roles at Comerica Bank. The record application flow led to Comerica achieving a time-to-fill of 60 days during 2024.
Our summer internships help college and graduate-level students explore their interests in banking. Specialized internships in Technology, Audit, Commercial Banking, Private Banking, Wealth Management and Enterprise Risk expose students to different job functions, mentorship and the opportunity to experience the work environment firsthand.
Attracting New Colleagues
When it comes to looking for new talent, we use a variety of techniques to connect with potential candidates in our communities. We participate in outreach and recruitment efforts to hire undergraduate and graduate students, and we offer programs to help them develop the skills and experience necessary for successful careers.
CEO
Letter
About This Report
About Comerica
Corporate Responsibility at Comerica
Customers
Colleagues
Inclusion
Community
Environment
Responsible Business
Additional Information
We believe a great place to work is one where our colleagues have the tools and resources to become confident and competent as they drive their career growth. Our development philosophy centers around learning and empowerment. To position our colleagues for success, we offer a rich mix of accessible learning formats, including formal and informal education, on-the-job experience, exposure to stretch opportunities and tools necessary to expand knowledge and skills.
Comerica University
Many learning opportunities are provided through Comerica University, a thoughtfully curated all-colleague, all-level learning resource. Comerica University offers a wide variety of training topics, including sales, products, risk, operations, technology, underwriting, management, leadership and professional skills. To ensure accessibility and to meet our colleagues where they are, training is offered in various formats and lengths, including self-paced, online, classroom, book, video, mobile and podcasts. Comerica University is
Leadership Programs
We offer a variety of programs for our leaders, from newly minted managers to executive leadership roles. In 2024, we enhanced our signature and award-winning Leadership Development Program, incorporating a competitive event where participants "pitched" strategic projects to executive "investors" - similar to a popular broadcast television program. This event required the participants to search, determine and pitch solutions and ideas that they found intriguing or needed by the company. The participants especially leveraged one of the company's Core Values called The Bigger Possible, and they rose to the occasion.
2024 Leadership Development Participation
also the home of premier, award-winning programs such as Comerica's Leadership Development Program, the Emerging Leaders Program and our Management Essentials Certificate series.
2024 Highlights
colleagues graduated from the Leadership Development Program
Senior Leader Programs
senior leaders participated in the Senior Leadership Program
skills-based training opportunities were offered to Comerica colleagues
of colleagues took advantage of voluntary skills training
of training hours were completed by colleagues
In 2024, more than 40 Comerica leaders participated in our Senior Leadership Program. In its third year, this program is designed to develop senior leaders who foster a culture of courage and performance - one where initiative, calculated risk-taking, forward-thinking and acting are core to the business. For our executives, Comerica offers Leadership at the Peak through the Center for Creative Leadership.
New Hire Programs
Also in 2024, we continued to refresh new hire training for Retail Banking colleagues, yielding a 27% increase in participant satisfaction ratings, and a 41% increase in colleague preparedness after those participants had been in their roles for a month.
Enhancing Learning Opportunities
We delivered more than 300 new resources and certificates to support banking-related topics for all colleagues in 2024. These included online courses, certifications and ongoing webinar series. In 2024, colleagues completed about 10% more courses, yet did so in less time, indicating the training delivered was helping to increase efficiency.
CEO
Letter
About This Report
About Comerica
Corporate Responsibility at Comerica
Customers
Colleagues
Inclusion
Community
Environment
Responsible Business
Additional Information
Leader Development Programs
The Credit College Program provides classroom-like training to enhance the ability to analyze financial statements, including cash flow and working capital, as well as improve presentation skills and effective team management. The program lasts two weeks and is part of Comerica's Commercial Banking Training Program. It is a thoughtful and strategic program that develops an inclusive, sustainable and enduring leadership pipeline that aligns with Comerica's Core Values and relationship culture.
2024 Comerica Credit College Program Graduates
Comerica's Leadership Development Program develops future senior leader talent. It brings together middle-management colleague participants and senior leaders for skills development, mentoring and networking. The participants also work on collaborative projects to address key strategic challenges.
Comerica's Leadership Development Program Class of 2024
The Comerica League - 2024 Risk-Focused Courses:
In 2024, as part of an enterprise-wide program focusing on risk management, we developed a robust lineup of risk-focused courses themed around the "Comerica League." Leveraging a bold art style and interconnected characters and narrative, colleagues learned about the many facets of risk and how they applied to their everyday responsibilities.
External Development Programs
We also encourage colleagues to participate in external development programs.
We offer tuition assistance for eligible full-time colleagues. In 2024, we paid $400,829 to 103 colleagues working on their college and advanced degrees.
CEO
Letter
About This Report
About Comerica
Corporate Responsibility at Comerica
Customers
Colleagues
Inclusion
Community
Environment
Responsible Business
Additional Information
Disclaimer
Comerica Inc. published this content on June 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 02, 2025 at 15:36 UTC.