Goldman Sachs
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“Goldman Sachs is a meritocracy built on the belief that collaboration, teamwork and integrity create the right environment for our people to deliver that best possible results for our clients” (Goldman Sachs). Goldman Sachs culture is built upon teamwork, leadership, and passion. Teamwork can be defined as “the assignment of work to groups of employees with various skills who interact to assemble a product or provide a service” (Noe et al., 2014). To Goldman Sachs, teamwork is a major part of their company’s composition. All of their business units are made up of teams from several divisions. From these teams everyone has their own areas of expertise but the overall responsibility is shared. Their overall organizational structure is flat, which allows for everyone’s opinion to matter. No one person has more say over everything than another. This allows for a more diverse organization. Goldman Sachs next culture characteristic is leadership. Leadership is hand and hand with teamwork; at Goldman Sachs they believe that employee should be a contributor. One of the main recruiting characteristics that they look for are people who share their commitment to leadership in business and to the communities where they work and live. Lastly, Goldman Sachs firm is built around passion. All of their prime characteristics stem from being a very passionate person. Their employees are all independent people, who work together to make not only their firm strive but their communities as well. In order to hold all the qualities that Goldman Sachs is looking for, you have to be passionate about the company you are working for. This is not just a job; this is a career.
Performance Management:As we have talked about throughout this paper, Goldman Sachs has a flat organizational structure. This allows for everyone to not only contribute, but to be held accountable for everyone’s actions. Goldman Sachs employees are expected to have a high level of dedication to not only the firm, but for their clients as well. From expecting this from their employees, they must expect this from themselves as well. Goldman Sachs is just as dedicated to their employees. As stated on their website, “In turn, we are equally dedicated to making their experience at the firm a rewarding one through learning opportunities, a strong framework for career development, a health and wellness support system, and a commitment to diversity and inclusion” (Goldman Sachs). At Goldman Sachs, they have what you call human capital management. Human capital management is responsible for attracting, developing, and rewarding the firm’s employees. In order to ensure in the high level of performance from their employees, Goldman Sachs has teams responsible for the learning and leadership development. Goldman Sachs also has a university which provides integration and culture, individual development, diversity and inclusion, and leadership and management programs that begin during onboarding and support their workforce throughout their career at the firm. Also, Goldman Sachs has a leadership development group called, Pine Street drives the leadership development of their managing directors, partners, and select external clients. Pine Street analyzes the characteristics of top-rated managers to find the key factors in retaining employees. Pine Street prepares them to lead the firm’s next generation and advance the Goldman Sachs culture.