Leadership Development at Goldman Sachs

16/01/2022, 17:39 Leadership Development at Goldman Sachs | PDF | Goldman Sachs | Apprenticeship
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Leadership Development at Goldman Sachs
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L eader ship Development at Gol dman

Sachs – Case Summary

Background
GOLDMAN SACHS GoldmanSachs
In November goldmanSachs'
1999, 11 of Goldman sachsfinest gathered
goldmantosachs
put the finalSMRT Trains
touches The SWOT
on a revolutionary
Managing…
leadership development plan. Following Goldman's explosive growth during the 1990s and itsAnalysis is a…
eventual IPO in 1999, a diverse group of leaders from across the firm were selected to "assess the
future training and development needs of Goldman Sachs, with a particular focus on the need for a
more systematic and effective approach to developing managing directors. After six months of
brainstorming, holding discussions with Goldman Sachs colleagues, interviewing experts, and
benchmarking best practices, it was finally time to present their findings to the management
committee. The briefing contained an integrated leader development plan with concrete
recommendations on how to resolve several critical design issues, including: location, faculty,
content, format, method, target audience, governance, and sponsorship. No one sitting on the
management committee had relied on a formal leadership program to reach the top.
The need f or a systemati c approach

The 90’s boom had a downside for the banks: “hot” new industries placed additional stress on an
already tight labor market by wooing skilled workers away from more traditional fields. The ensuing
“war for talent” threatened to put a damper on the growth of professional service firms as bankers,
lawyers and consultants all sought opportunity in these new industries. Many firms turned to
unconventional sources to fill the staffing void, eventually hiring Ph.D. graduates, medical doctors,
scientists, and others with non-traditional business backgrounds. The increasingly diverse workforce
challenged the strong cultures of professional service firms that historically had preferred to grow
their own talent. Time-honoured, organic models of leader development were put to the test.
Th e Appr enti ceshi p M odel – Need for a change

Historically, Goldman Sachs managers learned how to lead by apprenticeship, by working closely
with other senior leaders within the firm. Throughout the 1980’s and well into the 1990’s,
professional development happened almost entirely on the job. Most formal programs targeted
employees at or below the rank of vice-president. During this period, the firm seldom undertook
formal leadership training.
As Goldman’s rapid expansion continued it brought with itself a need for a more systematic and
formal approach to leader development was felt. Due to this tremendous growth in size as well as
complexity, it became increasingly difficult to cultivate enough leaders to meet the demand, let alone
facilitate productive interaction among many of them.
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GOLDMAN SACHS GoldmanSachs goldman sachs goldman sachs SMRT Trains The SWOT
Managing… Analysis is a…

L eader shi p Devel opment Advisor y Committee

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
Goldman’s approach to professional development should be guided by four key objectives:
 Developing the firm’s key asset: With the firm’s people representing our most critical asset
and competitive advantage, the task of keeping our talent excited and moving up a steep
learning curve has become mission-critical.
 Winning the “War for Talent”: Accelerated professional development is a key element in the
overall “value proposition” to the most talented people. 
 Building a cadre of outstanding leaders: The fir m’s growth and ambitious business objectives
demand a larger group of outstanding, well-rounded leaders.
 Maintaining quality and cultural strength amidst rapid growth: 42% of GS employees have
less than two years’ experience at the firm. Our expanded scale dictates that our traditional
GOLDMAN SACHS GoldmanSachs goldman
“apprenticeship” model sachs
of professional goldman sachs
development SMRT Trains
be supplemented The SWOT
with more structural
measures. Managing… Analysis is a…
Questi ons to be addressed
 Location - Where would the program be physically located?


You're Reading a Preview
Faculty Mix - What would be the Faculty mix-outside and internal?
 Content - What topics should be covered?
 Upload your
Method- classroom instruction, documents
other to download.
types of developmental experiences should be included
in the Leadership Development Advisory Committee’s proposal

OR with whom, and why?
Target Audience - Who should be developed,
 Governance and sponsorship – Who should own the leadership development within Goldman
Sachs and how should it be organized
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16/01/2022, 17:39 Leadership Development at Goldman Sachs | PDF | Goldman Sachs | Apprenticeship

Search Read free for 30 days

Documents  Career & Growth  Leadership

Uploaded by Cyril Scaria on Dec 22, 2013

Download now  Search document 

Search Read free for 30 days

The need f or a systemati c approach

Th e Appr enti ceshi p M odel – Need for a change

Search Read free for 30 days

You're reading a preview 

Unlock full access (page 2) by

Search Read free for 30 days

L eader shi p Devel opment Advisor y Committee

Questi ons to be addressed

 Location - Where would the program be physically located?

Continue for Free

Search Read free for 30 days

Reward Your Curiosity

Read free for 30 days

Share this document

You might also like

Search Read free for 30 days

Goldman Sachs Apprenticeship Leadership

SMRT Trains Managing Operations and Service Quality Case Study

The SWOT Analysis is a Valuable Step in Your Situational Analysis

C lt lC fli t B Q 0827 (1)

2012 Goldman Sachs Summer Accelerated Process Flyer

U.S. charges Goldman with subprime fraud

Search Read free for 30 days

Henkel SAP Case Study

Blue Ocean Strategy at Henkel

Search Read free for 30 days

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Henkel - Competitive Advantage

Report of Blue Ocean Strategy at Henkel

The Goldman Sachs Group

Creating and Sustaining a Winning Culture

Search Read free for 30 days

Case Assignment Axa Way

Short Run Decision Analysis

Research Paper - Final

Electronic Contracts- TANVI

Search Read free for 30 days

MBA Mid Term & Trimester Exam Nov 2013

Research Paper - Final

Search Read free for 30 days

Effective Sales Promotion Campaigns

Honda Cars India Ltd – An analysis of

Search Read free for 30 days

ITC Limited – Sustainable Development

Quantum Computing Report

Cyril Scaria Search Read free for 30 days

Exposure Attention Perception

BenQ Siemens Case

1. Designing Strategic HRM Miles and Snow

Search Read free for 30 days

About Support Legal Social

About Scribd Help / FAQ Terms Instagram

Our blog Purchase help Copyright Facebook

Join our team! AdChoices Cookie Preferences Pinterest

Scribd for enterprise

Books • Audiobooks • Magazines • Podcasts • Sheet Music • Documents • Snapshots • Directory