Goldman Sachs Group Inc. added new employee benefits, including higher retirement contributions, as part of a package of changes aimed at addressing worker burnout.
“We’re focused on delivering energy optimization, resilience and mental-health programs that support our people in caring for themselves and their families,” Bentley de Beyer, Goldman Sachs global head of human capital management, said Monday in an emailed statement.
The additional perks include paid leave for miscarriages, more paid leave for the death of an immediate family member, and a six-week unpaid sabbatical for long-term employees, according to an internal memo seen by Bloomberg News.
Dow Jones reported the new benefits earlier Monday.
Other changes include:
• Boosting retirement matching contributions for U.S. employees to 6% of total compensation (an increase of 2%), and contributing 8% of total compensation for employees making $125,000 or less with no requirement for workers to contribute for the first 2%.
• Eliminating the one-year waiting period for firm contributions for new joiners.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.
David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.
Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."
Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
