Are Employees Dying to Work for You and Is this a Good Thing?

The death of a 35-year-old Bank of America associate who had been working multiple 100-hour weeks prompted an outcry in the banking industry about employee protections being ignored.

Leo Lukenas III had been working on a team completing a $2 billion deal. An autopsy found he died of a blood clot that formed in a coronary artery. It should be noted that there's no proof that long hours at work contributed to his death, but this unfortunate situation certainly was a wake up call for the financial industry. Or was it?

"New" Workplace Policies

Let's cut through the noise and get real about workplace policies. JPMorgan recently announced a new policy. They're capping hours at 80 per week - the same limit New York puts on medical residents. Sure, they'll make exceptions for "live deals," but let's be honest: in banking, when isn't there a "live deal"? ?

Now, JPMorgan's not exactly reinventing the wheel here. They've already got a "protected window" from Friday evening to Saturday noon, and they promise one full weekend off every quarter. How generous!!! ?

But here's the kicker: like every other bank out there (and some consulting and accounting firms), they're relying on self-reported timesheets.

Anyone who's spent a day in corporate America knows how that goes. Workers in these demanding work environments are pressured to refrain from reporting the hours they’ve actually worked, for fear of retribution from their managers.

How do I know this? Because I used to work for one of these consulting firms! ?

Look, I've been in this game long enough to know that policies are only as good as their enforcement, and I've actually was employed by a consulting firm, early in my career.

Until we see real cultural change at the top, these "limits" are just window dressing. It's time for these high-stakes organizations to stop playing games and start treating their young talent like the valuable assets they are. Otherwise, they'll keep losing them to industries that actually value work-life balance.

2025 Talent ?

Your company’s ability to staff your organization in 2025 is going to be a mixed bag.

Workers will be hesitant to leave their current positions for fear they may be a casualty of a layoff at a new company. And you will no longer be able to outbid your competition, when staffing critical positions, given that payroll budgets are being significantly reduced. ?

You may be thinking, “Oh, great! Our employee turnover will decline, and we’ll no longer will have to worry about employee retention or hiring.”

This may be true, but what if the wrong people are staying?

You could be left with a pool of talent that is mediocre at best. ? Forget your free snacks and ping pong tables. By 2025, that won't cut it anymore. ?

Here's what it's really going to take to attract and retain top talent:

1. Authentic leadership. Stop with the corporate speak and start getting real. Employees want leaders who are transparent, vulnerable, and actually walk the talk. Not leaders who say we value work life balance and then promise employees a full weekend off every three months! ?
2. Meaningful work with real impact. Your people want to know their work matters. Show them exactly how they're contributing to the bigger picture. ?
3. Genuine flexibility. I'm not talking about "flexible" Fridays. I mean true autonomy in how, when, and where work gets done. Trust your employees to get their work done and if they don’t, find employees who will. ?
4. Fair compensation. Period. Don't make people beg for what they're worth, and for goodness sake, stop trying to buy people on sale. ?
5. Continuous growth opportunities. Invest in your people's development. Help them grow or watch them grow. ?
6. A culture of belonging. Diversity isn't a checkbox. Create an environment where all team members feel valued and heard. ?
7. Purpose beyond profit. There’s nothing wrong with making a profit. However, your company better stand for something more than just making money. ?

Here's the hard truth: if you're not already working on these things, you're already behind.

The war for talent isn't coming - it's here, as Baby Boomers retire and there are fewer people available to take their place. And it's only going to intensify.

The time is now to stop playing catch-up and start leading the pack.

Ready to transform your talent strategy? Let's talk. I've helped Fortune 500 companies revolutionize how they attract and retain top performers and can do the same for you. To get started, hit reply or schedule a call with me. ?