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It's invigorating, says David Solomon.

Goldman Sachs' CEO says people love being back in the office

It's a function of being the CEO of a major bank that people tend to agree with your opinions when they encounter you in elevators or corridors. On this basis, Goldman CEO David Solomon may be subject to some confirmation bias when he asks his employees how they feel about being summoned back to the offices to work. However, Solomon seems pretty convinced that people are being honest in their enthusiasm.

"I’ve heard from so many of our people in the past few weeks that they are glad to be back n the office," said Solomon on today's investor call to mark the firm's second quarter results. Clients are happy that Goldman staff are back in the office too, Solomon added.

Although Goldman generated healthy profits and revenues while people were working from home last year, Solomon said today that bringing people "back together" had "forged a close bond of culture, collaboration, teamwork and apprenticeship" that was allowing the firm to "thrive." - The experience of working in physical proximity to colleagues is "invigorating," Solomon said. 

Goldman summoned its people back to the office from early July. Solomon said today that 50% of people have been back in the firm's buildings around the world. When staff returned to its New York office, Goldman provided food vans and music. In London, there was free gelato.

While Solomon seems convinced of staff enthusiasm for commuting in and working at their desks, there have also been mutterings of discontent. Business Insider reported last week that some associates were resisting the call to return in San Francisco and New York "The official messaging is, 'We're back in the office.' But from conversations that I've had ... I think there's a recognition that there are a lot of benefits from working from home," said one.

Bloomberg reported in March that Solomon wanted people back in the office after encountering some Goldman associates who were out having lunch in the Hamptons in the middle of a working day. Richard Gnodde, the chief executive officer of Goldman Sachs International, told French newspaper Les Echos recently that risk management and trading roles need to take place in the office, but report writing can just as easily happen at home. 

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Photo by Tim Mossholder on Unsplash

 

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AUTHORSarah Butcher Global Editor
  • Sa
    Sam Phillips
    14 July 2021

    I bet an anonymous survey would say people hate being back at the office.

  • Sc
    Screen Cast
    14 July 2021

    Out of touch boomer. He will see the new nimble tech companies eating his lunch while being on the Hamptons.

  • Tr
    TruthHurts
    14 July 2021

    Of course the CEO is going to say people are happy being back but we all know that the CEO knows that's total BS! The CEO and senior management have their own offices and aren't hotel hopping from one potentially covid-infected desk to another. We've proven we can be more productive wfh so what is this push to have employees back in the office while the deadlier Delta variant is now sweeping across the U.S.? Make your spouse, significant other and children come work with us if its so safe!

  • Th
    Thomas Crown
    13 July 2021

    Sol---seriously what do we expect him to say ---it su%ks. What does he care about having to commute in, he has a private driver, 4 million a year in base and 17 million in stock and 100 million in his future pockets. Hey sol--please post your golden parachute and contracts for pay and performance for all to see, Can we please hear from the folks in the pits and not these multi millionaires / billionaires. But its not all their greed that needs to be examined, I mean how many years of making 4 to 5 million base does one need to live a life off just interest and leave simply there after but also its the F'N board members they play polo and golf with that approve these salaries AND the creeps in Human Resources that protect and kiss their shoes should be outed....

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