Goldman Sachs adds employee benefits to fight burnout

The firm is boosting its matching contributions to retirement accounts for U.S. workers and eliminating the one-year waiting period for contributions for new joiners.

Goldman Sachs Group Inc. added new employee benefits, including higher retirement contributions, as part of a package of changes aimed at addressing worker burnout.

“We’re focused on delivering energy optimization, resilience and mental-health programs that support our people in caring for themselves and their families,” Bentley de Beyer, Goldman Sachs global head of human capital management, said Monday in an emailed statement.

The additional perks include paid leave for miscarriages, more paid leave for the death of an immediate family member, and a six-week unpaid sabbatical for long-term employees, according to an internal memo seen by Bloomberg News.

Dow Jones reported the new benefits earlier Monday.

Other changes include:
• Boosting retirement matching contributions for U.S. employees to 6% of total compensation (an increase of 2%), and contributing 8% of total compensation for employees making $125,000 or less with no requirement for workers to contribute for the first 2%.
• Eliminating the one-year waiting period for firm contributions for new joiners.