06 Dec The Vanguard Group Employees Going Business Casual
On December 3, 2010, it was published in Workforce Management Magazine that William McNabb CEO of Vanguard Group announced on his blog that the firm’s 12,500 employees can now dress more casually.
“A few weeks ago, , William McNabb, received an e-mail from one of his sales representatives that a longtime client wanted to have lunch with him. At the end of the e-mail was a simple request: “Please do not suit up.”
“The client actually asked that I not wear a suit,” McNabb said. “They said it made them feel uncomfortable.”
Despite being more than 100 miles away from the formalities of Wall Street, Malvern, Pennsylvania-based Vanguard always has required its employees worldwide to dress in business attire: a jacket and tie for men and professional dress for women.
Until now, that is.
“On Nov. 23, McNabb announced on his blog that Vanguard would go “business appropriate,” meaning that all of its 12,500 employees across the world no longer have to “suit up” unless they are meeting with clients.
A few weeks ago, the Vanguard Group Inc.’s chief executive, William McNabb, received an e-mail from one of his sales representatives that a longtime client wanted to have lunch with him.
At the end of the e-mail was a simple request: “Please do not suit up.”
“The client actually asked that I not wear a suit,” McNabb said. “They said it made them feel uncomfortable.”
“… Vanguard would go “business appropriate,” meaning that all of its 12,500 employees across the world no longer have to “suit up” unless they are meeting with clients….””
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Is this a good trend? A customer dictates the wardrobe of his financial consultant? Are professionals presenting themselves as casual, and perhaps unsophisticated to clients who are the same? I agree, business casual dress is probably more comfortable to most but it has been proven over and over that when you dress casually, you act casually. In my opinion, this is not a good trend. Especially when you deal with other people’s assets, there should be a visual and professional respect given to the owner of those assets.
I would love to read your comments on the subject.