The US financial giant is encouraging greater work-life balance and providing opportunities for fast track promotion for their best people.
American investment bankers JP Morgan are encouraging a better work-life balance for their workers by insisting they to take time off at weekends, have lunch breaks and leave the office on time – quite a change in the results driven world of the US money markets.
The new ‘pencils down’ scheme has been brought in to meet the expectations of the current generations of workers.
It is part of a four-point plan brought in by the US financial services giant and which will be rolled out to all offices worldwide. Carlos Hernandez, JP Morgan’s head of global backing told the Wall Street Journal: “At the end of the day continuity matters, developing people to understand the firm, understand the culture.”
There is an exception to the weekend ban as brokers working on deals set to close immediately after the weekend will be allowed to work.
Other initiatives introduced are fast-track routes for high achievers – where top performers will be able to spend less time at each level as they progress – resulting in an analyst achieving managing director status in eight and half years rather than the usual 12.
Other parts of the initiative include introduction of a mentoring programme to give junior bankers greater access to senior people and a new app that reduces paperwork and help those who want to work from home.