3. Strategic Imperatives: Culture, Apprenticeship, and Risk
Our firm commitment to full in-office attendance is grounded in three foundational principles that define Goldman Sachs' global
competitive advantage:
Apprenticeship & Talent Acceleration:
A significant portion of our global workforce joined the firm within the last three years.
The intricate nuances of financial modeling, transaction execution, client advisory, and risk evaluation cannot be effectively
taught virtually. Junior professionals require proximity to senior leaders to learn through direct observation and immediate
feedback.
Risk Management & Information Security:
The nature of our trading, market-making, and advisory operations demands
rigorous compliance, confidential data handling, and active risk oversight. In-person presence ensures the highest standard of
regulatory compliance and security.
Spontaneous Collaboration & Execution:
The speed and complexity of global financial markets require seamless, cross-
divisional communication. Physical co-location fosters rapid decision-making and deal syndication that scheduled virtual calls
cannot replicate.
4. Operational Guidelines, Monitoring, and Friday Attendance
Data analysis conducted across our primary global hubs—including 200 West Street (New York), Plumtree Court (London), and
regional campuses—indicates an ongoing variance in attendance, particularly on Mondays and Fridays. The Executive Office
emphasizes that
Friday is a standard full business day
.
KEY OPERATIONAL PROTOCOLS
Badge Swipe Data Integration:
Building entry turnstile badge swipes will continue to be monitored and aggregated by
HCM to assess divisional and team-level attendance metrics.
Manager Accountability:
Department heads and business unit managers are directly responsible for enforcing five-day
attendance within their teams and addressing unexcused absences immediately.
No Blanket Remote Days:
There is no institutional remote-work policy for Fridays or pre-holiday periods. Working from
home without prior manager approval is a violation of firm policy.
5. Formal Exception & Flexibility Framework
The firm recognizes that individual circumstances—such as medical requirements, personal emergencies, or critical family
obligations—may occasionally require temporary flexibility. However, flexibility must be managed transparently:
Ad-Hoc Short-Term Flexibility:
Occasional personal appointments or urgent home emergencies should be communicated
directly to your immediate manager in advance.
Formal Medical/Personal Accommodations:
Extended or recurring hybrid arrangements require formal submission to HCM
Disability & Accommodation Services and approval from the Divisional Steering Committee.
Compliance & Performance Review:
Persistent unapproved absences from the office will be factored directly into annual
performance evaluations, discretionary compensation assessments, and career advancement decisions.
6. Implementation Directives & Next Steps
Effective immediately, Division Heads and Managing Directors are instructed to execute the following directives:
Review division-level swipe reporting provided weekly by HCM starting August 28, 2023.
Conduct mandatory team briefings to align all staff with the firm's five-day expectation.
Ensure all client-facing and operational desks maintain full staffing coverage throughout standard trading and business hours.
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GOLDMAN SACHS & CO. LLC — CONFIDENTIAL / INTERNAL MEMORANDUM
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