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Is this Wall Streets new tactic to maintain smart employees from burning out and running on to new adventures? Perhaps incumbents are starting to realize that their younger employees, generation y and z'ers, have a need to feel purpose, diversity and growth in their jobs. Allowing employees to work abroad, help the greater good and perhaps have an easier path to growth within these banks is a smart move that is for sure inline with the tech and startup DNA. Will it help with employee retention? That is yet to be determined...
“I want people to have family lives, personal lives,” said Citigroup Chief Executive Michael Corbat in an interview. “When I was a junior banker, it was a rite of passage in terms of how many hours you work. And I don’t think it’s how many hours you work. It’s how productive are you and how good are you.” Whether community service for a couple dozen employees can alter millennials’ perception of Wall Street remains to be seen.
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