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It is a labor job market atm> Employers are scrambling to find people, and as such many employees (especially rain makers) have their employers by short and curlies. Yeah an employer can mandate people return to work, but many employees are saying "nah", and "go ahead fire me, I'll have a new job in a day....".
People have had two years plus of working from home, and that bull is totally out of barn. It is only those whose terms of employment mandate they show up (service workers, healthcare, retail, hospitality, services, etc....) that *have* to go in, many others can easily do good part of their jobs from home.
It is a labor job market atm> Employers are scrambling to find people, and as such many employees (especially rain makers) have their employers by short and curlies. Yeah an employer can mandate people return to work, but many employees are saying "nah", and "go ahead fire me, I'll have a new job in a day....".
People have had two years plus of working from home, and that bull is totally out of barn. It is only those whose terms of employment mandate they show up (service workers, healthcare, retail, hospitality, services, etc....) that *have* to go in, many others can easily do good part of their jobs from home.
Right but they aren't going to find jobs at companies that hand out million dollar Christmas bonuses like its popcorn.
Goldman is legendary with the bonuses. A woman who lives on my floor was a waitress in the company dining room her whole life and even she got $25,000 bonuses every year ...in addition to being very well paid and well tipped. She is now retired very comfortably.
With Goldman anyway, something tells me most will be back on the job soon and if thy don't return Goldman will have an easy job replacing them so no sweat off their back either. c'est la vie.
Right but they aren't going to find jobs at companies that hand out million dollar Christmas bonuses like its popcorn.
Goldman is legendary with the bonuses. A woman who lives on my floor was a waitress in the company dining room her whole life and even she got $25,000 bonuses every year ...in addition to being very well paid and well tipped. She is now retired very comfortably.
With Goldman anyway, something tells me most will be back on the job soon and if thy don't return Goldman will have an easy job replacing them so no sweat off their back either. c'est la vie.
I don't know about that. I keep hearing that with mass retirement of workers in finance that there will be a shortage of talent unless people go into the field. Time will tell...
The WFH phenomena is bigger than Goldman Sachs or JP Morgan Chase at this point. Higher paid suburban finance employees enjoy doing WFH from their comfortable suburban homes. Not having to commute is saving them $100s/month. No more expensive monthly commutation ticket, no more expensive monthly railroad station parking fee. No more Penn Station, PABT, GCT. No more having to change to a subway filled with lunatics for the trip down to Wall Street area. WFH means getting up later too.
Right but they aren't going to find jobs at companies that hand out million dollar Christmas bonuses like its popcorn.
Goldman is legendary with the bonuses. A woman who lives on my floor was a waitress in the company dining room her whole life and even she got $25,000 bonuses every year ...in addition to being very well paid and well tipped. She is now retired very comfortably.
With Goldman anyway, something tells me most will be back on the job soon and if thy don't return Goldman will have an easy job replacing them so no sweat off their back either. c'est la vie.
Like I said, things vary by sort of employment.
No, a waitress at GS lunchroom (service worker) may not find same compensation elsewhere, but plenty of those in white collar spots surely can.
In case you've missed something, much of the moaning from city and state government isn't about low level or service workers returning to work, but BSD bankers, lawyers, and others who spend serious coin each day they at work. Everything from getting their shoes shined to power lunches or expensive dinners with clients, etc....
My guess is that more than likely Goldman will have to eventually bend on this and allow for a more worker friendly hybrid solution--especially if other IBs begin to pinch away at their talent pool.
My guess is that more than likely Goldman will have to eventually bend on this and allow for a more worker friendly hybrid solution--especially if other IBs begin to pinch away at their talent pool.
Last of baby boom generation is now in their late 50's early 60's. As that generation moves through retirement age and leaves workforce so goes last huge cohort that remembers a workforce which largely no longer exists. Young people have been chomping at the bit to overturn what they see as "antiquated" work rules from "older generation".
These young workers are a product of their generations which largely were raised on "gold stars for everyone", and or that sun rises and sets/world revolves around themselves.
You get sh*t from them all the time like "why do I have to come into work five days per week if can finish things in two or three?" Or, "why do I have to work eight (or more hours) per day at office when can finish things in four or five and be done?"
They call out for various and silly reasons ranging from females "not being in a good place today because am having my lady's day", or just "not being in a good place for work" period. They foist work off onto managers or others for same or similar reasons.
Having pushed out or otherwise gotten rid of many older workers, places are now pretty much run and staffed by these young people, so guess who is behind all this WFH nonsense. They want to be paid huge sums, but also demand "work/life balance".
James Dimon (himself a boomer), and others who came up via old school are trying to manage this revolution while running a successful business enterprise. Managers, senior partners, business owners, etc... all are moaning about work that is not getting done, or is slow coming, clients or jobs lost etc... all because good number of WFH employees aren't holding up their end.
When a client (or potential one) calls and gets voice mail, and worse no one gets back to him for several hours (or a day, maybe longer), he just may take his business elsewhere. Just such events happened to JPMorgan Chase which prompted Mr. Dimon to announce awhile back that his company was ending WFH and brining people back. Then came second covid wave, Omicron and so forth pushing those plans back.
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