Goldman Sachs Launches Reimagined Returnship Program to Support Professionals Re-entering the Workforce During the Pandemic
- Reimagined Returnship Creates Pathway for Professionals Displaced from the Workforce Due to COVID-19 and Those Who Have Taken a More Than Two-Year Career Break to Return to Work
- Direct-to-Hire Program Provides Skills Training, Leadership Development and Mentorship to Returnees Through Six-Month Paid Fellowship
- 2022 Application Period Kicks Off October 11
NEW YORK, October 11, 2021 -- Goldman Sachs today launched a reimagined Returnship® program to support professionals looking to re-start their careers in the financial services industry, including those displaced from the workforce due to the COVID-19 pandemic. The enhanced initiative has been transformed into a six-month paid fellowship and direct-to-hire model that will provide strong performing candidates with full-time jobs at Goldman Sachs upon successful completion of the program. Returnees will have the opportunity for on-the-job training, enhanced leadership development opportunities and mentorship through access to Goldman Sachs’ network of professionals.
The inaugural class of the reimagined Returnship will include the COVID-19 Career Relaunch Initiative, focused specifically on those who left the paid workforce, voluntarily or involuntarily, as a direct result of the pandemic. According to the National Women’s Law Center June 2021 Report, 1.79 million women and 1.75 million men left the labor force during the pandemic.
Goldman Sachs was the first to market with Returnship 14 years ago, recognizing there was an untapped population of highly-skilled, educated and motivated talent. Goldman Sachs will be making a concerted effort to ensure those displaced from the workforce due to COVID-19, as well as those who took a voluntary career break, have access to full-time open roles at the firm as part of its commitment to hiring and developing world-class talent. The application period for the program opens October 11.
“This program is designed to support those who put their careers on hold, due to the pandemic or otherwise, to successfully re-enter the workforce and bring their unique perspectives and experience to Goldman Sachs,” said Beth Hammack, Goldman Sachs’ Co-Head of the Global Financing Group. “We’re excited to launch our reimagined Returnship program with even more opportunities and support for Returnees that will help them get the most out of their professional lives.”
“Whether you left the workforce during the pandemic or you took time off to care for your family, our reimagined Returnship will provide the support you need to re-start your career right here at Goldman Sachs,” said Megan Hogan, Goldman Sachs’ Chief Diversity Officer. “We also know re-entering the workforce can be challenging, which is why we’re committed to providing Returnees with the training and tools they need to succeed. I’m excited to meet our new fellows and expose them to all the opportunities the firm has to offer.”
Carol Fishman Cohen, CEO and Co-founder of iRelaunch, said, “After pioneering the first Returnship in 2008, Goldman Sachs is again taking a leading role in developing innovative return to work programming with the reimagined six-month fellowship and the very first return to work COVID track. Beyond the novel features and model of the new return to work initiatives, in viewing the program as a leadership development track, Goldman is recognizing the full value that relaunching professionals bring to an organization.”
The reimagined Returnship focuses on flexibility – to meet candidates where they are at any stage of their Returnship journey. Returnees will be provided opportunities in a variety of divisions across the company including, but not limited to, consumer wealth management, engineering and operations. Goldman Sachs is committed to bringing in a diverse pipeline of candidates through this program – talent from all backgrounds, locations and experiences are encouraged to apply and consider opportunities at the firm.
The program is available in New York City, Albany, Jersey City, Salt Lake City, Dallas, Wilmington, Miami, West Palm Beach and Chicago.
In 2005, Goldman Sachs sponsored research entitled “Off-ramps and On-ramps,” which focused on challenges and concerns faced by individuals looking to re-enter the workforce. Goldman Sachs had observed a large number of individuals seeking to re-start their careers after extended voluntary absences from the workplace. In response, Goldman Sachs created the first Returnship program on the back of a one-day conference called “New Directions” over a decade ago. The launch of the reimagined Returnship demonstrates Goldman Sachs’ continued commitment to supporting individuals re-entering the workforce after a career break.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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