JPMorgan Chase & Co. (NYSE:JPM)’s restrictive policy for information technology employees about what they can and can’t post on LinkedIn Corp (NYSE:LNKD) may end up hurting the financial institution in the long run, Iain Smith says in an opinion piece for Computerworld UK.
Smith cites a full-page feature published by the London Times today, revealing that JPMorgan Chase & Co. (NYSE:JPM) has adopted a very strict policy for employees about disclosing job functions and skills on LinkedIn Corp (NYSE:LNKD), prompting his opinion that the policy may end up backfiring on the financial giant in the future.
According to the publication, Dana Deasy who has come from BP plc (ADR) (NYSE:BP) to be JPMorgan Chase & Co. (NYSE:JPM)’s new Chief Information Officer has been pushing for his firm to limit employees to disclosing through LinkedIn Corp (NYSE:LNKD) as little about their jobs and their skills used in their positions as possible. This move, according to Smith, is to curtail as much as possible the possibility that recruiters would take an interest in current JPMorgan IT employees.
The new policy could hurt JPMorgan Chase & Co. (NYSE:JPM) in many ways, Smith argues. One is that it would make potential employees for the firm’s IT department think twice about accepting a job offer from the firm as the policy would limit their choices for other jobs outside of the firm.
Another consequence of the stricter rules for their employees is that it tarnishes the employer brand of JPMorgan Chase & Co, Smith says. Furthermore, people who are already working for the firm would most likely be unhappy about the change in policy, Smith writes, damaging morale inside the company.
Smith also points out that this policy is a but unfair to lower level employees as business leaders are more likely to be unaffected since job offers for them do not depend a lot on their online presence.
A better approach would be for the financial giant to use LinkedIn Corp (NYSE:LNKD) with an open and confident approach, attracting talent in the process and keeping employees happy, Smith writes.
Christopher Lord’s Criterion Capital owned 730,600 shares in LinkedIn Corp (NYSE:LNKD) by the end of 4Q2014.
Ken Fisher’s Fisher Asset Management owed about 13.52 million JPMorgan Chase & Co. (NYSE:JPM) shares by the end of 2014.
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