"Goldman Sachs Group Inc.’s move to offer senior bankers unlimited time off seemingly marks a step toward a softer side of Wall Street. But there’s policy, and then there’s practice." - Bloomberg, May 17, 2022.
In practice, as Bloomberg points out (and as we striving professionals always knew) accessing more leisure time primarily depends on two factors:
One, how the leadership and other decision-makers (such as one's immediate boss) perceive going off-duty.
And, two, how we ourselves calculate the risk of not being all-on, all-of-the-time. Yes, there are professional niches in which work is done 24/7. Think of that M&A transactional work or the case in court going badly for law firms.
In a sense the world of work is bifurcated into two cultures. There is the ethos in which what is referred to workaholism is the norm. It's expected. There is also the ethos in which management and labor strive to create a balance between what the job demands and what can be available in a personal life.
Of course, this is not new.
When I took my first full-time corporate job at a major oil producer it was during an energy crisis. In the court of public opinion the oil industry was being blamed for "holding back" supply to raise prices. We in corporate communications labored 14 hours a day, seven days a week. That was expected. It was implicit.
Post-crisis, it was also implicit that those who wanted to "get ahead" would continue with being in the office for long hours, including weekends. Of course, not everyone made that choice. Their careers peaked prematurely but most had priorities other than work. Those ranged from family life to volunteerism.
What is new is that the two cultures are colliding in some circles. Workaholism is being questioned - and attacked. Balance is being revered.
A high profile lawsuit is about parental leave for fathers: "Mark Savignac, et al. v Jones Day, et al." It's sticky because of the demand by some fathers that they have the time-off-the-job to bond with and participate in the lives of their chidren. Although the plaintiffs had a recent setback, the litigation is still moving forward.
Yes, like Savignac and his wife Julia Sheketoff, we can take on the role of change-agent in how much work is expected in high-powered jobs or client assignments. Or, we can make a choice about what culture we will embrace and accept both the rewards and tradeoffs.
In doing assignments for law firms, I know that I have to be all-on. Both their transactional and litigation tasks involve deadlines. So do their interactions with media. If I'm not there some other vendor will make it clear he or she will be.
Yes, there is choice. The challenge is knowing who we are so that we can assess where we can fit and not come undone. That unraveling could be from frustration with all the hours demanded or from the loss of mobility and/or earning power because we have opted for balance.
Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com. She does communications assignments for law firms, defense and plaintiff and the enterprises serving them. Please contact for complimentary consultation. No selling.
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