How not to sweat an asset !
'Sweat the asset.’ Remember that phrase? Recently, my heart sank when I read this BBC News article; a group of employees at Goldman Sachs reporting 98 hour weeks and 3 am sleeping times. That’s ‘asset sweating’ at its worst.
Goldman Sachs is a leader internationally and this could act as a real moment for them to reflect. Instead of sweating their greatest assets, they could evolve & lead with the wellbeing of their people. Power & salaries are what Goldman employees aspire towards. But so too should be a culture where people thrive because they are mentally well & where mutual respect matters.
I’m all for hard work. But, in that context, a new narrative needs to emerge. It’s not cool to do an all-nighter to impress your boss, but it is cool to look after yourself. It's not smart to go to bed at 3 am. But, it is smart to understand the power of sleep. And, if you’re a leader, know that coaching through followship is way more effective than any bullying can ever be.
Sweating the asset? I don’t think so. David M. Solomon & Goldman Sachs leaders, this is your moment. Help your employees feel better about themselves and you will lead in purpose as well as profit.
Grant Eldred Simon Dodd Sarah Frewer Anya Radford Charles Engwell Catherine Wyatt Alice Evans Lets Reset