Stress Management in the Investment Banking Industry
An analysis of change management and strategies that deal with possible emergence of stress as a result of organizational change.
# 3194 | 9,240 words | 49 sources | 2001
Published on Sep 10, 2003 in Business (Companies) , Business (Finance, Investment and Banking) , Business (Administration) , Business (Management)
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This paper examines certain workplace issues of satisfaction, including job security, fair wage and salary levels, equitable distribution of benefits, training and career enhancement opportunities that integrate to create an environment that fosters both motivation and high performance and attempts through that to maximize productivity. The purpose of this research is to review the psychology behind the factors that contribute to employee stress as a result of organizational change, environmental and economic factors. The author attempts to analyze these concepts and examine how they contribute to worker's stress levels, thereby revealing the type of training and coping skills that organization's can attempt to provide. This paper addresses this problem specifically in the investment banking industry, with reference to the firm of Goldman Sachs. The author looks at the the financial services industry that has been characterized by ongoing and ever-increasing merger and acquisition activity and expansion with focus on change in technology, organizational settings, workforce and management. The author investigates how these changes may effect employee anxiety and stress levels with focus on the causes of stress and their possible psychological and physiological effects. The author provides recommendations as to how to achieve economies of scale and efficiencies through innovation and welcoming of change that is planned and appropriately dealt with and how to deal with the possible stress that may emerge through training, leadership, support, work teams, increased employee decision making and involvement, communication, change in reward systems and enforcement of a culture of change, innovation and challenge.
From the Paper:"While the profitability of corporations is typically measured in dollars, overall success can be measured in terms of profitability plus the attainment of organizational goals. This success derives from a synergy of inputs, including the work of employees who are dedicated, skilled and knowledgeable, and a management team that understands how to inspire competent and motivated performance through sensitive and responsive management of a continually changing workplace. The cost of socially-responsible management is an investment: the workplace environment directly impacts the motivation and productivity of the workforce. Simply put: happy, secure workers are productive workers. Companies are responsible for creating and maintaining a positive and supportive workplace environment through ethically responsible policies, fair compensation and proactive management. While not quantifiable as a line item, an attitude of responsibility to workers and to the workplace environment has a noticeable effect on the corporate bottom line. According to Alan Reder in his book In Pursuit of Principle and Profit (1994), responsible policies ensure that every quality of a company will emerge over time and greatly increase a company's chances of long-term success. Workplace issues of employee satisfaction include job security, fair wage and salary levels, equitable distribution of benefits, training and career enhancement opportunities that integrate to create an environment that fosters motivation, high performance and maximized productivity."
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Stress Management in the Investment Banking Industry (2003, September 10) Retrieved October 20, 2020, from https://www.academon.com/research-paper/stress-management-in-the-investment-banking-industry-3194/
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