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Goldman Sachs leads the way in offering additional personal time to employees whose families are being impacted by the Coronavirus. However, it is unlikely that any bank would prevent staff taking the time they needed to cope with personal issues related to the virus, says Richard Fox.
Richard responded that was 'not surprised' and that 'in many ways I applaud it'.
I suspect Goldmans are also being realistic. Anyone caught up in this scenario is going to have to move very quickly to make arrangements and devote time to sort it out...Goldmans’ employees may not be able to rely upon their usual, or indeed any support networks (paid or unpaid) as may have been possible in more ‘ordinary’ circumstances.”
As the banks got such a drubbing reputationally after the last financial crisis, one would think this new policy will not do them any harm moving forward. They do not want to be seen (again) on the wrong side of history after this crisis is over.”
You can read the full article in Financial News here:
Goldman Sachs gives staff 10 days of ‘family leave’ to cope with COVID-19
About the author
Richard acts for corporates, organisations and senior individuals in relation to employment matters of all kinds. These include confidentiality and restrictive covenants, executive pay, bonus and severance arrangements, unfair dismissal, discrimination, whistleblowing and redundancy programmes. He is frequently asked to advise in situations involving allegations of sexual misconduct in the workplace following the rise of the #MeToo movement, and the cases that have followed.
Richard is a well known commentator on employment law issues, appearing often in the Press (The Times, The Financial Times, People Management, HR Magazine, Personnel Today etc) and on TV/ Radio (BBC, ITV, Sky and Radio 4).
Further Information
If this is an area which concerns you please feel free to contact Richard or any member of the employment team.
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