Investment banking giant JP Morgan is actually encouraging its workers to take time off – and fast-tracking
Investment banking: it's not usually associated with a softly, softly approach when it comes to HR.
But that's all about to change – after a new policy introduced by US giant JP Morgan means workers will be encouraged to take time off at weekends.
The so-called Pencils Down initiative was designed to be "realistic to what this generation wants", Carlos Hernandez, JP Morgan's head of global banking, told the Wall Street Journal.
"At the end of the day continuity matters, developing people to understand the firm, understand the culture."
The new policy (which is in place provided bankers aren't working on a "live deal" – ie. one due to be announced the following Monday) – is one of a raft of measures being rolled out by the bank, a spokesperson told Morning Wire
Also included in the four-point plan is a fast-track route for "superstars": top performers will have a year shaved off the time they spend at each level, meaning they could go from analyst to managing director in eight and a half years, rather than the 12 it currently takes.
That's not all – the bank is also introducing a mentoring programme between senior and junior bankers, and an app that allows junior bankers to work from home if they need to.
The good news is the new policies will apply across JP Morgan's global operations, including its London offices. The bad news, of course, is that employees can never use work as an excuse not to see the in-laws again…