Goldman Sachs introduces new worker advantages

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© Reuters. People walk to the Goldman Sachs global headquarters in Manhattan, New York, United States on November 15, 2021. REUTERS / Andrew Kelly

(Reuters) – Goldman Sachs Group Inc (NYSE 🙂 introduced a number of benefits for its employees on Monday in order to relieve its employees and to attract talent.

The bank is increasing its retirement fund and adjusting contributions for U.S. employees to 6% of total compensation, an increase of 2%, according to a person familiar with the matter.

Goldman will also contribute 8% of total compensation for employees who earn $ 125,000 a year or less, the person said, adding that the bank has eliminated the one-year wait before adjusting employee contributions for new employees.

Employees are entitled to 20 days of paid vacation for the loss of an immediate family member or in the event of a miscarriage, the source said.

“We are focused on delivering energy optimization, resilience and mental health programs that help our employees take care of themselves and their families,” said Bentley de Beyer, the bank’s global head of human capital management E-mail statement in response to request for comment from Reuters.

The Wall Street Journal first reported the news, citing details from a company memo.

In February, a group of young bankers at Goldman’s investment bank told senior management that they worked nearly 100 hours a week and slept 5 hours a night to keep up with an excessive workload and “unrealistic deadlines.”

In response to the complaints, Goldman’s chief executive officer David Solomon had said management would work harder to give them Saturdays off and move bankers from other departments to the investment bank’s busiest teams.

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