During the mortgage meltdown, there was constant news footage of various mortgage company owners and employees getting shut down and all too often – arrested. Their stunningly casual dress always amused me, as many of the companies looked more like a Star Wars bar scene than an actual company.
Not wanting to be associated with the Star Wars bar crowd, we imposed a dress code in 2009, and two things happened: (1) we were able to attract a higher caliber of employee; and (2) our productivity increased.
The WSJ recently had a short article discussing this: http://www.wsj.com/articles/why-dressing-for-success-leads-to-success-1456110340
People who dress better negotiate more effectively, are more productive, and are more “big-picture” oriented, in most cases.
It is important, however, to not go overboard. Some of the managers Heejin used to employ would wear expensive suits every day in an environment where nice slacks and a shirt would have sufficed, and I think it was disconcerting for some people.
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