Lehman Bros.
I spent most of yesterday at an event organized by Lehman Brothers, at their headquarters near Times Square. (I felt like a real New Yorker walking through Times Square, checking messages on my cell phone, on my way to the gleaming office tower of a major global financial services firm.) The day, part of their Encore program, was organized for people such as myself who are re-entering the workforce after a protracted absence. Lehman Brothers is an unusually enlightened company in this way, because they realized that people who have been out for a while do have particular trouble re-starting their careers, and they believe it's a useful pool of talent that they can tap for experienced people - that in fact just because you've been out of work for a couple of years, there may be a reason for it that has nothing to do with professional shortcomings. Believe me, this realization on the part of an employer is unusual.The idea stems originally from the plight of mothers who have left their jobs to look after their children, but all kinds of people were included in the event, people who'd been pursuing studies, trying to start a business, taking care of invalid relatives, and so on. But most of the people there were women who had been raising children for the last few years. The event was organized in periods and we changed tables at each break to meet people in the different divisions. I was the only male candidate in each group (there were some men among the employees who were there to talk to us) until I reached the IT table where four of us just outnumbered the female candidates. It was kind of strange being in the heart of the financial services industry, generally a bastion of white male supremacy, and feeling like a member of a very small minority.
The day was part pep rally for the job hunters, part commercial for Lehman Brothers, and only thirdly networking with hiring managers. Some very senior people spoke, and managing directors sat amongst us. Joseph Gregory, COO and President, was a particularly good speaker, talking passionately and persuasively about the company and the program for half an hour without notes. The overall impression one gets, from the presenters and from everyone I spoke to, is that the company is one that really does care about their people, people really do enjoy working there, and issues of work/life balance get much more than lip service. A large number, if not the majority, of employees that I met had been there for more than ten years, implying a remarkably low turnover.
Unfortunately it's not a great time of year for hiring opportunities. The tendency in the industry is to wait until the new year when departments know how successful the previous year was and so what their budgets are likely to be in the one coming, and employees don't leave voluntarily now since they would forego their bonus. And this year is worse than most for uncertainty, following the upheaval in the markets this summer, and their continuing softness. When the Vice Chair, Barbara Byrne, spoke she told a story in which her salary had been threatened, by men who thought flex time meant less time. She inserted a caveat to the effect that one must realize the annual salary is a relatively small part of compensation for positions at her level, and then she reflectively interjected "Well, this year who knows." Nonetheless there were areas discussed that merit some aggressive follow up. It's nice to know that at least I won't be rejected out of hand for the "sabbatical" line on my résumé.
posted 14.11.07
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