Bankers at Barclays Don't Like New Dress Code

I looked at the article New dress code horrifies investment bankers. Here is a summary of the article and the link can be found below. Barclays the bank has started a new dress code policy to make the work environment for its employee’s more fun(Carney, 2013). This new dress code means that “employees can wear very casual clothing such as jeans, t-shirts and sneakers on Fridays”(Carney, 2013). However, many of the employees at Barclays are not on board with this new casual Friday option(Carney, 2013). Some of the employees have stated their dislike for this new policy stating “It's ridiculous,please make them stop”(Carney, 2013).  Another upset  employee saying "I didn't become an investment banker to dress like a perpetual teenager"(Carney, 2013). The new dress code is just one of the new policies introduced by Barclays to create a more enjoyable workplace(Carney, 2013).                                                    

 Article Link:   http://www.cnbc.com/id/101081451        

                                         My Opinion                                                              

 I find it interesting that employees at Barclays are not excited about the opportunity to dress more casually on Fridays considering that the dress codes at financial institutions is usually very formal.  I believe that Barclays is their realizing that you can be a successful business and still have a casual dress code because companies like CHG Healthcare Services have no formal dress code and is ranked “number three by Fortune magazine in its 2013 survey of the 100 best companies to work for in America”(Lee, 2013).  People are seen wearing wear jeans, t-shirts and baseball hats at work(Lee, 2013). Additionally, companies like Adobe and Google which are extremely successful business also have a casual dress policy(Lee, 2013). Further, Research has indicated that when employees are dressed in casual attire and feel relaxed they end up doing more work instead of feeling uncomfortable because of the clothes they are wearing(Parus, 2000). In Barclay’s case, I guess they like the formal code out of habit and if the new policy makes their employees unhappy then maybe they should stick to their original policy. 

Here is a look at a survey that was done about having a casual dress code in the workplace:

Survey respondents cited the following benefits of allowing casual dress at work:

• A casual dress policy improves employee morale -- 85 percent;
• Employees perceive a casual dress code as an added benefit -- 82 percent;
• Informal attire saves employees time and money -- 72 percent; 
• A casual dress policy could be used as an attraction and retention tool -- 66 percent; and, 
• Wearing casual clothes at work improves productivity -- 45 percent

This survey shows the many benefits of having a casual work dress code (Parus, 2000).

Link to survey: http://accounting.smartpros.com/x26280.xml

References:

       Carney, J. (2013, October 2). New dress code horrifies investment bankers. Retrieved from http://www.cnbc.com/id/101081451

        Lee, J. (2013, May 28). Workplace revolution: What does dressed for success mean in 2013?. Desert News. Retrieved from http://www.deseretnews.com/article/865580733/What-does-dressed-for-success-mean-in-2013.html?pg=all

        Parus, B. (2000, November 6). Employee morale improves with casual dress code. Retrieved from http://accounting.smartpros.com/x26280.xml

Questions:

What are your thoughts on Barclays changing its dress code on Friday’s considering it’s a financial institution?

Do you believe dress code does affect productivity?

Do you think because Google and Adobe which are extremely successful corporations that more people will maybe try and loosen up their dress codes?