Your liver or your career?
A recent FINS article suggested that anyone thinking of trying to make it on Wall Street should drink up: the culture on the Street is apparently heavily dependent on after-hours booze-ups. While that likely won't come as a surprise to anyone familiar with the financial industry (or many other industries, for that matter), it does raise the issue of workplace bonding—and the question of where to draw the line between an employee's "fit" and their performance?
If the former broker cited in the FINS piece is to be believed, he was slow to realize that he was missing out on more than just a hangover by not participating in post-work drinking sessions. As he puts it, he lost the opportunity to forge "emotional connections" with his fellow employees—and specifically with bosses. And while not hitting the bar on a regular basis may strike some as the act of a responsible careerist, the failure to build those bonds may have cost the broker: he lost his job when the financial crisis struck.
The article doesn't offer details on whether any of broker's former colleagues who participated in the carousing were also let go, or attempt to discover whether the layoff was related to performance issues in addition to the economic difficulties. But the very fact that one can come away from the piece speculating on that underlines the difficulty of balancing a close-knit work group with a commitment to remaining professional at all times.
Most of us have had a colleague at some point who seems to get by on personal connections rather than the quality of their work. And it's certainly not difficult to imagine a scenario where the boss' drinking buddies are treated preferentially over a colleague who may be just as talented—or more so—but lacking when it comes to that all-important emotional connection.
Many of us also have stories of workplaces or departments where all the talent an organization could possibly need is hampered by a poor culture and lack of communication.
The challenge for execs, then, is in striking the balance between the two: encouraging bonding without having it spill over into an institutionalized boys' club. To that end, a good starting point may well be to set aside some regular office hours for non-work activities for your employees—with a careful focus on ensuring that people socialize beyond their usual work groups.
Of course, it's difficult to prevent groups of employees from forming cliques and excluding others: people naturally gravitate to those with similar interests. But those at an executive level need to exercise care should they become aware—or even choose to participate—in such groups. Because while close "emotional connections" can produce close-knit, well-functioning teams, they can also lead to blind spots over performance or conduct. And that's something no business can afford.
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Phil Stott is a staff writer at Vault.com in New York. Originally from Scotland, he has also lived and worked in Japan, South Korea and Eastern Europe. He holds an MA in English Literature and Modern History, and a Masters in Research in Civil Engineering, both from the University of Dundee.
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