Goldman Sachs' Returnship Program
In the context of the war for talent, many employers are increasingly interested in bringing back successful female employees who put their careers on hold for a number of different reasons. For those women it was the right decision to make at that time. But that doesn’t mean they intended to end their careers. Goldman Sachs is committed to help facilitate the on-ramping process through our New DirectionsSM and ReturnshipSM programming.
In May 2006, Goldman Sachs launched the Goldman Sachs New DirectionsSM initiative to provide individuals who have "off-ramped" with guidance and coaching on how to make a successful transition back into the workforce. To further this mission, the firm launched the Goldman Sachs ReturnshipSM Program in the fall of 2008.
A “returnship” is a unique way for the firm to develop talented individuals who, after an extended, voluntary absence from the workforce, are seeking to re-start their careers. Comparable to an internship, a returnship is an eight-week preparatory program that leverages the skills of on-rampers in the process of transitioning back into the workforce. In the same way that an internship offers a guided period of exploration during which interns cultivate the skills that will serve them in future careers, a returnship provides on-ramping individuals with an opportunity to sharpen their skills in a work environment that may have changed significantly since their last experience as an employee.
The Returnship SM Program has been tailored to address many on-rampers’ concerns including their ability to transition into a new area of expertise and the perception that their extended absence from the workforce is an indication of reduced momentum or ability. In providing these individuals with an opportunity to strengthen their skills and demonstrate their capabilities, the program offers a window into the responsibilities and demands that may come with their new roles. Despite the down economy, Goldman Sachs was able to hire 50% of the pilot program participants for positions in various divisions of the firm. Based on this success, the firm rolled out a 2009 program this past fall and expanded the program globally with a program launch in Hong Kong.
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Contact
For more information, please contact Goldman Sachs Returnship Program