These initiatives promote commercial development, provide visible role models, encourage strategic networking and aim to address the issues that can affect individuals in targeted populations at various points throughout their career. Programs for Women Our Senior Women’s Initiative, for which the firm received the Catalyst Award in 2007, encapsulates a broad range of programs, including:. A Senior Women’s Review that monitors the pipeline to the most senior positions at the firm through an annual assessment of promotion opportunities. Our Women Partner Advocacy, an annual meeting of women partners to discuss promotion prospects of female managing directors and high-potential vice presidents, and to reaffirm this vital pipeline with global division heads. The MD Women’s Series, a forum that connects senior women at the firm with executive leaders. Our ACCESS program provides female vice presidents in Asia and the EMEA region (Europe, the Middle East and Africa) with access to local and visiting senior leaders, through one-off meetings, brown bag lunches and partner dinners. Our Leveraging Leadership Programme provides female vice presidents in EMEA with a unique opportunity to engage with Management Committee members and to foster cross-divisional relationships with peers.
Ati unified avstream driver windows 7. Our Women’s Career Strategies Initiative (WCSI) is a global six-month, nomination-based development program designed to strengthen the retention and engagement of female associates and help with their successful transition to vice president. The initiative provides developmental opportunities focused on:. Broadening participants’ exposure to the firm’s businesses and culture. Deepening participants’ knowledge of career development tools.
Facilitating firmwide networking and increasing visibility of senior women and male role models. Our Multicultural Women’s Initiative focuses on enhancing the workplace experience of Asian, African-American, Hispanic and Native American women at our firm and throughout the financial services industry. Programs include:.
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ASCENT, a nomination-based talent management program for multicultural women at the senior analyst and associate levels. The Loft Series, a quarterly forum for multicultural women at the associate and vice president level to engage with senior leaders on career development and advancement topics. Brokering Change: a Wall Street Multicultural Women’s Exchange, which has provided almost 2,000 multicultural women from across the financial services industry with networking and professional development opportunities. These initiatives, coupled with the robust efforts of our strong global women’s networks and leadership conferences, have helped to significantly increase the number of women at the firm. Programs for Black and Hispanic Professionals Our Welcome Event and Career Connections programs for new Black and Hispanic analysts and associates, which deliver practical strategies on how to successfully navigate the firm. Catapult, a nomination-based quarterly series designed to offer Black and Hispanic associates the skills and insight essential to career acceleration, via seminars facilitated by senior leaders and subject matter experts. Rules of the Road, a nomination-based, year-long program for Black and Hispanic vice presidents, which provides participants with insight into the cultural, commercial and people management skills that contribute to continued success at the firm.
Childish gambino because the internet album zip. EMpower, a nomination-based program that provides professionals and their managers with tools to build authentic and effective relationships via a facilitated coaching process. Other Development Programs Out in the City is the financial services industry’s premier interbank networking opportunity for financial services professionals interested in gay, lesbian, bisexual and transgender issues in the workplace. Affinity Network Leadership Conferences for diverse professionals offer networking opportunities, provide important information leadership development and career advancement information and offer access to senior leaders across the firm. Featured content. Goldman Sachs created a Returnship program to provide training to individuals who seek to restart their careers after an extended absence. Learn More There are a number of ways our people seek to make a difference: through financial support, volunteering endeavors, and partnerships with nonprofit organizations worldwide.
Our Office of Corporate Engagement advances the firm's objectives to make a difference in its philanthropy. Learn More Quick links. © Copyright 2017 Goldman Sachs, All Rights Reserved.
Access to case studies expires six months after purchase date. Publication Date: November 03, 2005 In November 1999, 11 of Goldman Sachs' finest gathered to put the final touches on a revolutionary leadership development plan. Following Goldman's explosive growth during the 1990s and its eventual IPO in 1999, a diverse group of leaders from across the firm were selected to 'assess the future training and development needs of Goldman Sachs, with a particular focus on the need for a more systematic and effective approach to developing managing directors.' After six months of brainstorming, holding discussions with Goldman Sachs colleagues, interviewing experts, and benchmarking best practices, it was finally time to present their findings to the management committee. The briefing contained an integrated leader development plan with concrete recommendations on how to resolve several critical design issues, including: location, faculty, content, format, method, target audience, governance, and sponsorship. No one sitting on the management committee had relied on a formal leadership program to reach the top. How skeptical might they be?
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Goldman Sachs Case Study
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Given the public drubbing Wall Street has taken over the past year or two, you may be surprised to learn that Goldman Sachs (GS) made Hay Group and Bloomberg BusinessWeek.com's Best Companies for Leadership list. But the survey isn't a popularity contest.
It's an objective assessment of the culture for leadership development. In that area, as in so many others, Goldman Sachs is a true innovator. Like other survey respondents from the Best Companies for Leadership, those from Goldman Sachs said that leadership development isn't a nice-to-have option. It's embedded in the culture. 'As soon as people become good managers, we want them to be good coaches too,' says George Parsons, chief learning officer for Goldman Sachs.
'You have to be good at getting and giving feedback so you can help individuals fully contribute.' Until 15 or 20 years ago, every new person at Goldman Sachs had a coach. Leaders routinely mentored those who were coming through the ranks. Getting and giving feedback through one-on-one coaching at a small firm is fairly uncomplicated.
But as Goldman Sachs has grown—it currently has some 30,000 employees around the world—the challenge became one of how to scale mentorship. 'How do we keep the best practices alive so there is a demonstrated, ongoing effort to ensure that people are helped in navigating their careers?'
Asks Parsons. The answer for more than a decade has been Pine Street, Goldman Sachs' innovative virtual senior academy serving 1,800 managing directors across the globe. The multifaceted program offers classroom activities, outside assignments, executive coaching, one-day seminars, and experience-based learning through the Leadership Acceleration Initiative, an annual six-month program for a group of managing directors around the globe selected by their leaders. (Unlike many other investment banks, managing directors at Goldman Sachs are not automatically considered high-potential.) An 'insane' distraction? Leadership Acceleration Initiative participants perform their regular jobs during the day. Additionally, they complete a number of projects, such as serving on a global task force so they can do work with a global impact. The board of directors reviews this work and the developing leaders meet regularly with executive coaches and senior management during the six-month period.
According to Vincent Milich, a Hay Group senior consultant, Goldman's dedication to leadership development sets it apart from its peers. Senior leaders at Goldman Sachs develop and participate in these programs in an industry where, according to Milich, 'a lot of people don't spend any time training.' Milich says that throughout the industry, the idea of taking someone from his or her desk for leadership development, 'even for 15 minutes, is insane.' According to Parsons, leadership development has in recent years emphasized results as the firm works its way through the economic recovery. But in spite of the current environment, Goldman Sachs was able to preserve the core of its leadership development efforts (i.e., managers also being good coaches). While Goldman Sachs is well-known for giving generous bonuses to high performers, Hay Group's Milich says that from a cultural perspective, leadership at Goldman Sachs believes that the team is more valuable than the individual, and that the firm is more important than the team. That commitment to the team over the individual star performer also sets the firm apart from its peers.
'Breaking down silos is something Goldman Sachs does well,' observes Milich. As an example of silo-breaking and team commitment, Parsons cites what Goldman Sachs calls its 'stockpicking college' for young research analysts. While the goal is to help the analysts perform more effectively, it's also about getting people to work together as a team. The emphasis, he says, is on how to get the right diversity across a portfolio. That requires a diversity of thinking—and a diversity of backgrounds.
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'How do you get from that diversity to a clear, quality outcome?' Parsons asks. 'You create an environment in which people can speak from the heart—and where leaders know how to direct traffic, facilitate dynamic exchanges.' The collaborative culture and the matrixed environment help Goldman Sachs' managing directors make better decisions, says Parsons, by enabling more interaction across business lines, more freedom to consult in different directions, and more business being developed from scratch.
Goldman Sachs Pine Street
He cites the accessibility of senior management as another plus. 'People work more closely with multiple senior leaders than they have in the past, says Parsons. 'There is an abiding commitment to the next generation and to the success of these endeavors. You can't maintain that commitment if you're not available.'
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