1, Introduction
2. Organizational culture of Goldman Sachs
On the one hand, corporate culture highlights the company's personalized characteristics and strengthens cohesion, on the other hand, it also forms a unique customer base, which is very "birds of a feather flock together", and customers often share the same religious and cultural background with the company [2]. The organizational culture of Goldman Sachs Group is in line with its core values-customer first, teamwork and long-term interests. Goldman Sachs attaches great importance to cultivating talents and meets the following challenges with diversified employees: a global customer base representing multiculturalism, a 24-hour market, and new financial problems requiring unconventional solutions [3]. Never say "I" at Goldman Sachs, just "we". If you can't purify your self-centered thinking and coordinate your work with others, that means you should be fired [4]. Goldman Sachs wants employees to define themselves as contributors rather than just employees, encourage employees to innovate their business and pursue "long-term greed".
2. 1 innovation VS robustness
In the process of developing from a small family business to an industry giant, Goldman Sachs encourages employees to carry out business innovation and develop financial products and services according to changing market demand. At the early stage of the company's development, Goldman Sachs learned painful lessons from Goldman Sachs Trading Company and China Railway Project in Pennsylvania, thus forming an effective risk assessment system. At Goldman Sachs, every project will be carefully evaluated and the risks can be controlled. Good corporate culture originated from the establishment of Goldman Sachs. In 1970s, Levy and Whitehead introduced innovative culture. Steady innovation is the company's favorite.
2.2 team positioning
2.3 Enterprise
Goldman Sachs encourages employees to put more energy into their work and strive to create a relaxed and pleasant teamwork atmosphere. Employees perform better at work, not only because of the high salary, but also because of the respect and recognition of team members. This internal incentive mechanism enables employees to work with the greatest enthusiasm. Simplicity, efficiency and enterprising are one of the traditions advocated by Goldman Sachs. It is Gus Levy who emphasizes enterprise and transforms it into corporate culture. He is an energetic and strong leader who hates wasting time and uncertainty. Simplicity is his style of doing things. He said: "We work with great energy and are keen on doing business and having fun. I want Goldman Sachs to be second only to his wife and family in the hearts of every employee. " He pays attention to efficiency and puts more pressure on himself while putting pressure on others. Under his leadership, active and efficient work has become a part of Goldman Sachs organizational culture.
3. Maintenance of organizational culture
Organizational culture is the soul of Goldman Sachs. During the development of Goldman Sachs 130 years, various favorable cultural elements have been introduced into the organizational culture of Goldman Sachs, and a series of systems have ensured the inheritance of corporate culture.
3. 1 salary system
Goldman Sachs does not guarantee any employee's future salary, nor will it give them a commission based on the profits earned by traders. Whitehead has long realized that the distribution of benefits may bring internal discord. He has established a win-win compensation scheme. He encourages employees to work efficiently in a team-intensive organization. After each transaction is completed, an internal report will evaluate the contribution of each team member in detail, and everyone can also see the contribution of others. Employees sometimes pay more attention to gaining recognition and respect than money. Unlike other investment banks, which pay attention to transaction volume and transaction amount, half of the salary of employees in Goldman Sachs' investment banking department depends on the evaluation of others in the team on someone's contribution to improving team performance, which makes every employee consider how to run the group better.
3.2 Diversified staff recruitment
"Diversification is the core element for us to provide excellent service to our customers and maximize returns for our shareholders. While supporting and strengthening the company culture, it also enhances our reputation as the best employer inside and outside the industry. " Lloyd, CEO of Goldman Sachs? Blankfein said [7]. The diversification of employees is not only conducive to better solving problems, improving creativity and improving the ability to communicate with customers, but also brings business opportunities to the company. Goldman Sachs believes that first-class companies must have first-class employees, and these employees must be selected from the widest range of applicants. Only by using the talents and judgment of all kinds of employees can we best serve the interests of customers. Whitehead has taken people to Harvard Business School many times to recruit employees. Goldman Sachs also encourages the recruitment of the best talents from competitors, believing that it is often more important to recruit the best talents from competitors than to lose a deal. High-quality employees ensure that Goldman Sachs culture can be well inherited and developed.
3.3 Staff Training Plan
In order to provide good services to customers with different needs around the world, Goldman Sachs has a working team that provides customers with all-weather quality services. Goldman Sachs emphasizes finding the best candidate for each job and cultivating employees' sense of teamwork. Whitehead believes that the unique culture of Goldman Sachs is the key to its growth and success, and it needs to successfully convey its corporate culture among diversified employees. He drafted our business principles and sent them to employees and their families. These business principles are mentioned in the annual report of Goldman Sachs, and these principles have been adhered to for many years and become the spiritual pillar of employees. These principles are not only macro strategies, but also provide guidance for specific business plans. Through a lot of training and internships, these employees gradually understand the organizational culture of Goldman Sachs and the classic cases in the company's history. Goldman Sachs requires employees to accept their core corporate values and practice these principles in their subsequent work. For Goldman Sachs, the professional skills of employees are not the most important. Integrating into the company, recognizing and practicing the organizational culture of Goldman Sachs is the biggest thrust for Goldman Sachs to continue to grow and develop.
4. Conclusion
In the development of Goldman Sachs, the connotation of corporate culture is constantly enriched. Guslevy introduced enthusiasm and professionalism into the company culture, and whitehead established the core values of teamwork. The inherited organizational culture has given a great impetus to the sustainable development of Goldman Sachs.
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