No good deed goes unpunished at my firm
GLOBALCAPITAL INTERNATIONAL LIMITED, a company
incorporated in England and Wales (company number 15236213),
having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

No good deed goes unpunished at my firm

bored-PT0177.jpg

I am bearing the weight of my lazy colleagues; what can I do to lighten the load?

Dear O,

Every workplace has its go-getters and slackers: investment banks, the local pizzeria, the nearby hospital, law firms, local government, etc. This is a perennial issue in any office.

And too often management lacks the guts or ability to crack down on the loafers. Instead, they take the easy way out, piling work to the hardest working, most industrious employees. This creates the worst of all worlds, rewarding poor work habits and alienating top talent. It’s corrosively unfair.

Managers may have the guts to deal with loafers but are often restricted by bureaucracy

And in the context of a high pressure, high workload environment like an investment bank or a big law firm — where deadlines are tight and projects are bespoke — the effects are even more acute.

But before we slate management for laxness, we should understand why it’s not easy for team leaders to weed out the stragglers. You mention that one of the juniors calls in sick or cites family emergencies to get out of work, and that you suspect these are pretextual.

You may be right, but there are two issues for supervisors.

First, it’s hard to distinguish between real hardship and fakery. Professional organisations such as banks operate a kind of honour system. There’s a presumption of employee honesty. Second, employers run considerable litigation risk if they question or discredit an employee’s claims.

In fact, the fear of lawsuits and reputational harm often explains why management hesitates to confront lazy or incompetent staff. Banks might seem like hard charging, performance-driven workplaces, but the reality is that they’re bogged down by bureaucracy and red tape and have external stakeholders to consider. The last thing they want is a public dispute in front of an employment tribunal.

Find out if your fellow A&As feel the same way. You’ll be more effective if you present a united front to senior leadership and HR. A lone ranger can be dismissed as a grump, but a posse of protesters must be reckoned with

Eventually the banks will get around to putting underperformers on performance improvement plans and/or terminating their employment. But the process is fraught with legal and PR risk and will take time. It cannot be rushed. So for the time being, it’s easier to shunt work over to you and rely on your good faith.

So what can you do? You need to change the calculus for senior management, making it clear that the path of least resistance is to address the problem head-on.

First, find out if your fellow A&As feel the same way. You’ll be more effective if you present a united front to senior leadership and HR. A lone ranger can be dismissed as a grump, but a posse of protesters must be reckoned with.

Second, I would reiterate your concerns — but with a twist. Let them know you wish to be considered for a transfer to another group. Strong juniors are much prized within investment banks because they provide huge operational leverage and lighten the workload for senior bankers. No team leader wants to lose a top associate to another team.

By contrast, do not threaten to resign and work elsewhere. That comes across as petulant and disloyal. You’ll be perceived as a troublemaker, and your motives will be challenged.

Vigilantism is not the way forward

Third, start saying no to the extra work. The additional pay and kudos aren’t worth the added stress, and your heroic service will likely be forgotten in a few months. Explain that your colleagues have the capacity to take on the work. Don’t make it easy for management to lumber you with everyone else’s tasks.

Finally, don’t confront the lazy or incompetent juniors directly. Your frustration will likely spill over, you’re bound to lose your rag — even if only a bit — and they’ll resent you for it, maybe even badmouth you. There’s no chance they’ll say, “You’re right, I should work harder!”

You’re the wrong person to be delivering that message and trying to do so will just result in you being labelled as a firebrand and rabble-rouser, even if you’re 100% right.

Remember, other people are paid well to manage teams and handle staffing issues. Don’t do their jobs for them — just as you shouldn’t be doing the slackers’ work, either.


Welcome to GlobalCapital’s new agony aunt column, called New Issues.

Each week, capital markets veteran and now GC columnist, Craig Coben, will bring his decades of experience at the highest levels of the industry to bear on your professional problems.

Passed over for promotion? Toxic client? Stuck in a dead end job, or been out of the market for so long youd bite someones hand off for one?

If you have a dilemma you would like Craig to tackle, please write in complete confidentiality to agony@globalcapital.com


Topics

Gift this article