Take It From Goldman Sachs: Employee Engagement Means Money

on October 22, 2019

Goldman Sachs does it. Does your organization do it?

By “it” I don’t mean “making a ton of money”—although Goldman Sachs does that, too. The mega investment bank has recently retooled its approach to workforce engagement by investing resources, time, and energy into measuring and optimizing the employee experience. 

Yes, one of the world’s largest financial firms—a company totally driven by the bottom line—is prioritizing worker satisfaction and well-being. In fact, Goldman Sachs leadership sees it as their “responsibility”:

“More than ever, the experience economy trickles down to work. Employee experience means everything in our ability to attract, retain, and develop talent. We also live in an increasingly connected world. Employees want to share and compare their experiences both internally with other employees and outside.

Providing employees with the best experience is critical to our success. It’s our responsibility to give people a fulfilling, high-quality experience in their workplace.”

That’s Dr. David Landman, managing director and global head of talent assessment at Goldman Sachs, talking to Forbes. Landman explains that “the balance of power is shifting from the employer to the employee.” He and his team can no longer consider employee engagement as a perk or afterthought. When employees don’t get the fulfillment they expect out of work, he says, “they go elsewhere.”

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That said, assessing employee experience isn’t as simple as measuring the number of smiles in the room. Landman knows he can’t evaluate worker sentiment on gut feelings. Instead, he uses software to track and analyze HR:

“In a firm of our size, there’s no way to scale and understand employee experience without technology.

We needed an inviting and easy way for employees to provide feedback. And equally important, we needed to aggregate that data in a consumable, reportable way so that we could provide different groups with usable information.”

Read “Goldman Sachs Banks On Employee Experience To Drive Business Results.”

Want to maximize employee engagement—and make a boatload of cash—the Goldman Sachs way? KPA’s HR management software can help. Streamline key HR processes to hire top talent, reduce turnover, and cut onboarding costs. See how it works.

Download this!

Hiring Success eBook

 

The tough demands of today’s business world can make the job of hiring and retaining the right people, and keeping them, a challenging one for hiring managers. This eBook can help!

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Toby Graham

Toby manages the marketing communications team here at KPA. She's on a quest to help people tell clear, fun stories that their audience can relate to. She's a HUGE sugar junkie...and usually starts wandering the halls looking for cookies around 3pm daily.

Toby GrahamTake It From Goldman Sachs: Employee Engagement Means Money

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