Why Goldman Sachs Want Its Bonuses Back

The video discusses Goldman Sachs' new strategy to retain employees by enforcing strict contract terms, including pulling deferred pay even if employees leave for non-rival firms. This unprecedented move aims to deter staff from leaving but may risk damaging client relationships and the alumni network. The video also explores potential reactions from former employees and compares Goldman Sachs' approach with other Wall Street banks.

What strategy has Goldman Sachs implemented to retain employees during the pandemic?

• Providing free housing

• Offering flexible working hours

• Offering stock options

• Increasing compensation and enforcing strict contracts

What potential risk does Goldman Sachs face by enforcing strict contract terms?

• Losing current employees to competitors

• Decreasing employee productivity

• Damaging relationships with former employees who may become clients

• Facing legal challenges from rival banks

How might Goldman Sachs' strategy affect its internal perception among employees?

• It may increase employee loyalty

• It may lead to higher job satisfaction

• It may encourage employees to seek promotions

• It may cause employees to reconsider leaving the firm

What is a potential benefit of employees leaving Goldman Sachs for client firms?

• They can provide insider information

• They can return business to Goldman Sachs

• They can recruit more employees for Goldman Sachs

• They can negotiate better deals for Goldman Sachs

How might other Wall Street banks respond to Goldman Sachs' employee retention strategy?

• By adopting a similar approach

• By increasing working hours

• By offering higher salaries

• By reducing employee benefits