Goldman's Solution To Extended Leave
The problems female employees encounter when they try to return from extended absences, usually maternity leaves, are well documented. Oftentimes, the leave turns into a permanent setback in their progression within their company. Goldman Sachs is trying to change this with their Returnship Program.
- Goldman Sachs has understood that in the current war for talent, successful female employees are key.
- The problem is that they often have to put their career on hold.
- Women don’t see this as an end to their career and companies shouldn’t either.
- In 2006, Goldman Sachs started their New Directions initiative.
- The goal was to provide people who had “off-ramped” with guidance on how to successfully reintegrate the workforce.
- In 2008, the Goldman Sachs Returnship Program started.
- It is an eight-week preparatory program similar to an internship.
- It’s a guided period of exploration where employees seeking to re-start their careers can sharpen their skills and readapt to a work environment that might have changed since they were last employed.
- Goldman Sachs hired 50% of the Returnship Program participants despite the difficult economic times.
- The program has expanded and is now considered a global initiative.
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