JAMIE DIMON RUN FOR PRESIDENT NOW

[michigancat]

Look if you can get 90 people to do the work of 100 you should be able to get your team of 100 to do 5 days of work in 4. At least you could if YOU WEREN'T DOING IT IN YOUR SLEEP.

[Pete]

I agree with SD on this stuff, but I am definitely sympathetic to Michigancats’s points. The value proposition of busting your ass is different now than it was for boomers and to a lesser extent gen X.

Used to be that in most careers at most companies that in about 10,000 hours of work time, or less, you’d be an “expert” and have a house and a nice car and enough cash for a comfortable family life.  AND, you might have a pension or shot at earning some equity in the firm in some way.  Put another way, it was clear that you’d be rewarded if you worked hard.

Those sorts of careers and employers are really hard to come by now. Better to go the high tech startup route…move to one of the tech areas, get super balls deep in as technical of an area as you can, and bounce from firm to firm looking to learn as much as you can as fast as possible and maybe luck into an IPO or hyper growth phase  or something.

[michigancat]

I agree with SD on this stuff, but I am definitely sympathetic to Michigancats’s points. The value proposition of busting your ass is different now than it was for boomers and to a lesser extent gen X.

Used to be that in most careers at most companies that in about 10,000 hours of work time, or less, you’d be an “expert” and have a house and a nice car and enough cash for a comfortable family life.  AND, you might have a pension or shot at earning some equity in the firm in some way.  Put another way, it was clear that you’d be rewarded if you worked hard.

Those sorts of careers and employers are really hard to come by now. Better to go the high tech startup route…move to one of the tech areas, get super balls deep in as technical of an area as you can, and bounce from firm to firm looking to learn as much as you can as fast as possible and maybe luck into an IPO or hyper growth phase  or something.

To be fair I'm goofing, I both agree and disagree with a lot of what Dimon said. For example, I truly agree remote work makes decision making slower and more difficult. I'd bet sd actually favors wfh more than I do. (I'm more of a hybrid guy)

And honestly there's not many workplaces that consistently reward hard work (or at least the illusion of hard work) more than investment banking. I wish my kids went into finance (other than the fact that it's pretty toxic to women).

[chum1]

I didn't follow the part about how someone with their nose to the grindstone can have so much time for ranting and bellyaching. Maybe because I was listening while I was both on my phone and also on the clock.

[chum1]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

[Stupid Fitz]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

agree with this. you obviously have to know what you are doing, but "self promotion", "being visible", etc. are way more important to climbing the ladder.

[Pete]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

agree with this. you obviously have to know what you are doing, but "self promotion", "being visible", etc. are way more important to climbing the ladder.

I agree with both of you, but I think that mostly applies to corporate work… which is I suppose the majority of jobs these days.

[michigancat]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

agree with this. you obviously have to know what you are doing, but "self promotion", "being visible", etc. are way more important to climbing the ladder.

I mean that's pretty much what Dimon was asking for. He wasn't asking for people to work harder, he was asking them to answer the phone, pay attention in meetings, be in the office, etc. Make it seem like you're working hard and engaged.

[michigancat]

also I can't imagine working for Chase and not answering the phone when Jamie Dimon calls (even if I was on vacation!). LOL you know those folks just don't give a eff

[chum1]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

agree with this. you obviously have to know what you are doing, but "self promotion", "being visible", etc. are way more important to climbing the ladder.

I mean that's pretty much what Dimon was asking for. He wasn't asking for people to work harder, he was asking them to answer the phone, pay attention in meetings, be in the office, etc. Make it seem like you're working hard and engaged.

If he's asking for the appearance of work over actual work, I think we've found the flaw in his reasoning.

[steve dave]

Advancement in companies has very little to do with productivity. Things like enthusiasm and agreeability are far more important. I'm dubious that his company is much different than everyone else in that regard.

agree with this. you obviously have to know what you are doing, but "self promotion", "being visible", etc. are way more important to climbing the ladder.

I mean that's pretty much what Dimon was asking for. He wasn't asking for people to work harder, he was asking them to answer the phone, pay attention in meetings, be in the office, etc. Make it seem like you're working hard and engaged.

If he's asking for the appearance of work over actual work, I think we've found the flaw in his reasoning.

that's exactly not what he's asking for. you should listen to him again while working but pay more attention to him than the working. just appear to work but focus on Jamie.

[chum1]

In all seriousness, the rationale he's giving is rambling and imprecise. Like, without question it is. And if this is how he typically is in meetings, I can see why people would be multitasking.

[wetwillie]

He is trying to do to remote work what he did to Adam Nuemann but I don't think the results will be the same

[sonofdaxjones]

 WFH is a killer of decision making synergy.

It takes forever anymore, and getting people to concentrate on something and make a decision is mind numbing these days.

[CNS]

I agree that WFH is less efficient than working in an office will all of the ppl needed to inform any decision that needs to be made.  I disagree that WFH is less efficient for work in pretty much any way.  I guess, to me, the question is how much of the former do you need day to day?  If it's a lot, it seems like a no brainer to make those ppl come into an office. 

I think WFH is way more efficient in pretty much every other way, as long as your home set up doesn't also simultaneously put you squarely in some other roll(like childcare). 

[chum1]

Lol

"Don't waste time on it. I don't care how many people sign that f---ing petition," Dimon said when asked about the in-person work policy during a town hall meeting Wednesday, according to a recording reviewed by Reuters.

Dimon was referring to a petition that had been circulating among a group of workers opposed to the company's latest policy, which was requiring hybrid workers to come back to the office full-time.

[steve dave]

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[BIG APPLE CAT]

Probably just a coincidence, but as soon as a company’s stock price takes a dip, the C-suite blames it on the inefficiencies of working from home. Despite pretty much every available metric showing that it's a win/win across the board bc employees are more productive, happier, and the overhead costs for the company are quite a bit lower as compared to having everyone working in the office.

Probably also a coincidence that when companies decide they need to do a reduction in staff, they know that some % of their workforce is going to quit as a result of being forced to come back to being in the office every day so like, hey cool we just quietly fired a bunch of ppl without looking like total knobs and we also don't have to give them any kind of severance like you would with a layoff.

Like I said, coincidences.

[sonofdaxjones]

Oh man, the best thing about the above post is that BAC is convinced he/she is in to something


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[steve dave]

We do this. We also do a lot of “re-orgs” and cut fat instead of firing people. Firing people is hard irl. I’ve WFH since 2018 and most of my employees have as well but I’ve carefully cultivated them to know I have dependable WFH people. One of my employees is old AF and just went on a European River cruise with his wife and I told him to shut it down but NOPE emails in the middle of the night and attending meetings he didn’t need to be at. Get you some of those is my advice.


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[steve dave]

I could text him right now and have some stupid spreadsheet with dollars in it in 15 minutes if I wanted it.


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[steve dave]

I also have a girl that’s on the spectrum and is so diabolically anal about everything anyone ever does being perfect because of course her work is perfect. It sucks because she can’t deal with people but I love it. And I’ve gotten her personal coaching about it and she’s told me that when someone does something stupid she asks herself “what would a normal person say here?” and it’s helped her a ton. She’s brilliant and we’ve learned how to succeed with it. She’s also a WFH star.


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[steve dave]

My “succession plan” is a kid 10 years younger than me that is just me if I looked in a mirror 10 years ago. Kind of lazy because he’s smart AF and can work a room and he’s everyone’s best friend in 5 minutes. I let him eff off constantly and do whatever he needs to do but he delivers when called on. Looks great in a suit. WFH star if you don’t babysit your employees.


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[steve dave]

I have a few more but moral of the story is WFH is absolutely great for a certain segment of the population imo but it takes special people to perform at max in that environment. The people I just described would do equally in the office. Most people have a fall off imo. I am blessed to get to pick my team but most others in my org can’t and I hear horror stories about babysitting time and production.


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[sonofdaxjones]

Oh man - alert the Barney Fife far remote Omaha white flight suburb cops!


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