Vampire Squid Proving Downright Maternal
If some of Goldman Sachs’ older, grumpier partners feared throwing a few extra guaranteed shekels in the general direction of their youngest and most abused subordinates would make them weak, too expectant and entitled, too soft to do the hard-nosed work of investment banking well, they’re not going to like this at all.
“We’re focused on delivering energy optimization, resilience and mental-health programs that support our people in caring for themselves and their families,” Bentley de Beyer, Goldman Sachs global head of human capital management, said Monday in an emailed statement.
The additional perks include paid leave for miscarriages, more paid leave for the death of an immediate family member and a six-week unpaid sabbatical for long-term employees….
Seems God’s gift to banking is being held over a barrel as much as all of the lesser operations.
Wall Street is in revolt. Across the financial industry, at firms big and small, workers are slow-walking their return to the office…. Many younger employees prefer to work remotely…. Some large banks ordered their employees to begin returning to the office over the summer. Top bosses have been saying for months that their clients should be catered to in person, that banking is an apprenticeship business where juniors learn the ropes by observing their seniors, and that teamwork benefits all. Their orders have had mixed impact, leaving bosses flummoxed — and in some cases, vexed….
In February, the Goldman Sachs chief executive David M. Solomon called remote work an “aberration” for the company’s traders. The bank asked employees to come back in June. In an emailed statement, Mr. Solomon said Goldman was among the first banks to ask workers to come back, viewing it as essential for its apprenticeship culture. “What is clear through the process is that we are better together than apart,” he said. Still, Goldman’s office in downtown Manhattan is staffed at about 60 percent.
Goldman Sachs Adds New Employee Benefits to Fight Burnout [Bloomberg]
Wall Street Grudgingly Allows Remote Work as Bankers Dig In [NYT]
