Work Life Balance

Goldman Sachs dustup hits nerve as pandemic blurs work-life line

Summary: A group of junior Goldman Sachs bankers voiced concerns over grueling work weeks that sometimes extended to 105 hours. This spurred debates about work-life boundaries, especially post-Covid-19. While the intensity of these bankers' schedules might be unique, many professionals felt a blur between work and leisure during the pandemic. Kevin Delaney, a sociologist, emphasized this boundary erosion. Responding to the outcry, Goldman Sachs CEO David Solomon endorsed a policy against working on Saturdays and appreciated the junior staff's initiative.

Outside Goldman Sachs, Citi's CEO Jane Fraser introduced "Zoom-Free Fridays" and emphasized the importance of taking vacations for mental rejuvenation. Jennifer Moss, an expert in workplace Culture, employee happiness and burnout, lauded these steps but cautioned that sustaining staff post-pandemic requires consistent action from employers. She stated, "It's a legacy of overwork that's been institutionalized." Moss also highlighted the mental strain on younger employees, citing a study where 85% reported a decline in well-being and 55% felt imbalanced between home and work. She emphasized that solutions should encompass more than just self-care, urging for "upstream interventions, not downstream tactics."

The Goldman controversy reflects generational differences in workplace expectations. Younger workers desire collaboration and acknowledgment. While employers seem receptive to flexible work setups after the pandemic, the ultimate willingness of high-powered organizations like Goldman to adjust remains uncertain.