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All Of Goldman Sachs Employees Now Allowed Casual Wear At Work


03/10/2019


All Of Goldman Sachs Employees Now Allowed Casual Wear At Work
In an attempt to shed its rigid outlook and to create a friendlier environment for customers, Goldman Sachs, one of the largest banks of United States has decided to start off with relaxing its prescribed dress code for its staff. Many analysts also view this to be a move by the Wall Street giant to become and be viewed as a more casual workplace.
 
In an internal memo sent to its employees, the US investment bank announced the imposition of a "firm wide flexible dress code". The bank however also urged its employees to decide for themselves and use their "good judgement" about the kind of fashion choices that they make with respect the causal nature of clothes that they would wear for office.
 
This is however not the first such step by Goldman Sachs. In 2017, the bank had relaxed its strict official dress code for employees in its tech division so that it could become a more appealing destination for the best talent in the industry.
 
Similar steps have also been taken by other large US banks such as JP Morgan.
 
In an internal memo sent to a large number of its employees across the board, the bank said that the "changing nature of workplaces generally in favour of a more casual environment" was the reason that the bank had \been prompted to take the decision so that it could shift to a  "firm wide flexible dress code".
 
"Casual dress is not appropriate every day and for every interaction and we trust you will consistently exercise good judgement in this regard," the memo read.
 
One of the aims of the move by the bank is to further develop the policies of the bank to be suitable for the younger employees of the firm and so that its policies are liked by the younger workforce. .
 
The Millennial or Gen Z generations - people born after 1981 comprise of over 75 per cent of the employees at Goldman Sachs.
 
The investment bank's top executives including chief executive David Solomon’s sign was carried in the internal memo. After having led for 12 years by Lloyd Blankfein, a new wave of leadership has been ushered into the otherwise stern looking bank by the appointment of Solomon as the top boss of the company. Solomon himself is an electronic dance DJ which could explain his pragmatic view of things. Since taking over the bank, he has also pledged to bring in more transparency into the bank and has also ventured into the area of retail banking in a big way.
 
There has been some criticism of Goldman Sachs, which is amongst the most influential investment banks in the world, for its role before and during the global financial crisis of 2007-08 as well as for the debt crisis in the euro zone. 
 
The bank was famously described by Rolling Stone magazine as the "great vampire squid wrapped around the face of humanity" because of its policy of being completely and only profit driven.
 
(Source:www.bbc.com)


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