Golden handcuffs

Retention strategies are a hot topic in business, but what happens when those strategies involve an $80 million bonus? Goldman Sachs’ recent move to secure CEO David Solomon for five more years offers lessons in leadership, loyalty, and leveraging golden handcuffs—literally.

The Gold Standard in Retention

Goldman Sachs pulled out all the stops with this headline-grabbing retention bonus. Whether you lead a Fortune 500 company or a small business, keeping key talent is always a challenge. While $80 million isn’t feasible for most companies, the principle remains the same: retention is an investment, not a cost.

DJing Through Criticism

Despite facing scrutiny for his side hustle as a DJ and navigating rough patches at the bank, Solomon’s leadership is seen as critical to Goldman’s future. The takeaway? Leaders are multifaceted, and their outside passions might just bring creative insights to their roles. (Maybe it’s time to dust off your guitar or revisit that ceramics class!)

Performance Is King

Goldman’s profits soared 68% in 2024, silencing critics. Performance ultimately justifies retention strategies. If you’ve got a rockstar on your team, finding ways to align their personal goals with your organization’s vision is key.

Humor and Takeaway

Now, we’re not saying your top performers need an $80 million bonus (unless they also boost your bottom line by billions). But recognizing, rewarding, and retaining talent in creative ways can pay dividends. Just remember: bonuses aren’t always about the money—it’s about making people feel valued.

Final Thoughts

Retention doesn’t require an $80 million check—just creativity, consistency, and maybe a bit of humor. Who knows? A thoughtful approach to retention might keep your next “CEO” from moonlighting as a DJ.

References

AnnaMaria Andriotis and Dean Seal

AnnaMaria Andriotis and Dean Seal (2025, January 17). Goldman Sachs Gives Solomon $80 Million to Stay. WSJ. https://www.wsj.com/finance/banking/goldman-sachs-gives-80-million-in-retention-awards-to-ceo-operations-chief-d3305f41

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#LeadershipLessons #RetentionStrategy #GoldmanSachs #BusinessHumor #TalentManagement