CASE STUDY

GOLDMAN SACHS

INDUSTRY

FINACE

35,000+ employees

COMPANY SIZE

RESULTS AT A GLANCE

Partnership increased engagement, recognition and culture.

THE CLIENT

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Global Compliance advises and partners with the firm’s businesses to ensure compliance with applicable laws, rules and regulations. The major functions performed by Global Compliance include providing advice to the business, testing, monitoring, regulatory reporting, training, surveillance, managing regulatory audits and inquiries, and developing and implementing policies and procedures. Global Compliance is organized broadly into divisional compliance groups and centralized compliance groups, each with firm wide responsibilities. Compliance functions are located in each major region, including New York, London, Tokyo and Hong Kong.

THE PARTNERSHIP

Purpose:

Develop a talent, culture, and generational engagement strategy with an emphasis on the advancement and retention of Millennial employees, who are a growing portion of the Global Compliance Division

  • Increase division-wide awareness and accountability for action among Managing Directors

  • Build a model that can accelerate careers within the Global Compliance Division—as well as Goldman Sachs as a whole—to strengthen the company as a Preferred Employer for Millennials

THE OUTCOMES

Global Compliance People Survey

Analyzed 700+ surveys, focus groups feedback, and stakeholder interviews to identify indicators and key insights around the current state

  • Discovered what was happening to employees across generations using longitudinal data

  • Uncovered what each generation was seeking in terms of their work experiences

  • Used survey results to develop themes for engagement and retention in partnership with the Human Resources and Key People Committee

  • Developed GenEffect2020—a management culture initiative that focused on retention and built recognition programs across key demographics

Served as a baseline for improvement, revealing increases in five key areas that drive attrition.

GET EMPOWERED WORKSHOPS

Rolled out a series of workshops for early career professionals at the Associate and Analyst levels focused on:

  • building leadership

  • career accountability

  • relationship capital

  • goal mapping

RESEARCH TOOLKIT

Advised the People Development Committee and created a toolkit to help facilitate the collection of internal research via global focus groups and leadership listening sessions

  • Focus areas: Career Advancement, Feedback, Professional Development, Work-Life Balance, Communication

GC MANAGING DIRECTOR
ONSITE and TOWN HALL

Assisted during Division’s first onsite retreat for Global Managing Directors in 5+ years

  • Presented at the Global Town Hall to realign Managing Directors with Division employees

MANAGEMENT 360 SURVEY

Post-test survey to measure progress against baseline set from People Survey

  • Uptick in satisfaction in regards to new engagement workshops, Millennial engagement initiatives, and management training programs

GC MANAGING DIRECTOR
ONSITE and TOWN HALL

Assisted during Division’s first onsite retreat for Global Managing Directors in 5+ years

  • Presented at the Global Town Hall to realign Managing Directors with Division employees

KEY PEOPLE INITIATIVE ROADMAPS

Designed and developed a set of tools to support the ongoing engagement and development initiative geared toward early leadership professionals

GC MANAGING DIRECTORS MEETING

Held a workshop for Global Compliance Managing Directors informed by the People Survey and by WMM research.