EMPLOYER OF THE YEAR
Discovering and retaining quality talent is a challenge that confronts each and every private bank in Asia, but few institutions have proven themselves to be as effective as Goldman Sachs.
In 2016, Goldman Sachs demonstrated that it is the industry leader in terms of seeking out and attracting a diverse cast of talent and, in turn, cultivating a work environment that encourages performance, progression and a healthy work-life balance.
Goldman Sachs’ pedigree as an employer stems in large part from its hiring strategy: the bank goes to extraordinary lengths to uncover and attract talent from a diverse range of backgrounds and cultures. Here, diversity is considered a non-negotiable means to creating value for clients and shareholders and not just box-checking exercise. Of particular note is Goldman Sachs’ campus recruitment strategy. Committed to seeking out best graduate talent, the bank utilises technology to reduce geographical/resource barriers facing students and, ultimately, to cast the net across a wider pool of campuses and individuals who may otherwise be overlooked.
Once inside, private wealth management staff receive targeted training across a range of soft and hard topics and are exposed to periodic, institutionalised feedback from senior staff across the bank. The private wealth curriculum includes a stint at the New York headquarters, as well as an Asia-specific programme that runs out of Hong Kong. Furthermore, employees receive best-in-class access to educational, health and lifestyle services – testament to the seriousness with which Goldman Sachs treats the wellbeing of staff, both in and beyond the office.
Ultimately, Goldman Sachs’ forward-thinking initiatives and attention to the specific needs of new and seasoned talent alike have contributed to double-digit growth in the private bank’s headcount over the last four years and an extremely low turnover rate in 2016.
“Growing wealth in the region presents a compelling business opportunity, but the talent pool is limited as the industry is still in a relatively early stage of development,” says Ronald Lee, head of Goldman Sachs Private Wealth Management in Asia Pacific. “That’s why we put a lot of focus on attracting and cultivating the best talent. People are our most important asset and the cornerstone of our success.”
Goldman Sachs Private Wealth Management is Asian Private Banker’s Employer of the Year for 2016.