Your Organization Is, Like Goldman Sachs, in Transition: How to Duck Becoming a Scapegoat

 Overall, human beings don't like change, particularly during the period of uncertainty before they know what's what. So, it's predictable that they select scapegoats to assign blame for the unease.

According to Financial Times journalist Robert Armstrong, that's the dynamic sticking to Goldman Sachs CEO David Solomon. In today's analysis in FT Armstrong depicts Solomon as the designated target for what makes a broad range of constituents unhappy with that large bank. As we all know, there has been a media pile-on, ranging from The Wall Street Journal to New York Magazine.

Oh, yes, the times are a-changing for Goldman Sachs. Over is its golden age when it had been the force field in traditional forms of finance. That influence and power have shifted to alternate investment management firms such as Apollo. Weekly in the news is glowing coverage what Apollo CEO Mark Rowan is up to. 

A rising tide lifts all boats. Along with that gush, including in professional anonymous networks such as Reddit and Fishbowl, is a thumbs-up for law firm Paul Weiss which represents Apollo in transactions. The praise centers around Paul Weiss' avoiding layoffs and actually hiring in a down market for Big Law. Its chair Brad Karp, recently voted in again by the partners, is the Man With The Jobs. The sustained assignments from Apollo help make that happen. 

So, the issue on the minds of those whose organizations are in any kind of transition should be: How to insulate themselves from being targeted? Obviously Disney's boomerang CEO Bob Iger didn't pull that off. Gleefully media outlets feature his supposed sins of the past such as overpaying for the Fox acquisition. More to the point the jury is out if he can turn around the business fast enough. 

What I advise those I coach is the burden is primarily on them to select the best strategies for perilous times. One is to lay low. Many manage to do that masterfully and emerge whole when the crisis ends. Among them have been Bill Gates. 

Another is to amp up the profile and take bold action. During the blockbuster turnaround of Chrysler which involved controversial government loans for a near-bankrupt corporation, the Lee Iacocca team went on the public affairs offense. All emerged giantic stars. 

There isn't the option to ignore the need for strategy. Perhaps Solomon's mistake might have been to seemingly ignore the mobs. William Shakespeare portrayed in his history plays how they can change on a dime.

Data or the gut for your careers and communications? Both of course. Complimentary consultation with intuitive coach, content-creator, and Tarot reader Jane Genova (text 202-468-8579, janegenova374@gmail.com).