There’s been a change to the Goldman Sachs (NYSE:GS) dress code as the investment firm is looking to keep up with the times and shifting its ideas of what’s acceptable in the workplace.

When thinking of big financial institutions, the image of dapper suits and ties with polished dress shoes comes to mind as this is how these companies have been operating for decades. However, this is now changing as Goldman Sachs announced on Tuesday that it is loosening its dress code for all of its workers.

CEO David Solomon unveiled the change in an internal memo, noting that the business now supports a more “flexible dress code” due to how workplaces around the country are becoming more casual in their employees’ attires. About 36,000 of the company’s employees received the memo.

The move shows that Goldman Sachs knows what new generations like as more than 75% of the company’s workers are either Millennials or Gen Zers, which means they were born after 1981. Ultimately, the goal of a business with the reputation that this one has is to attract the best possible employees.

The shift towards a more casual dress environment has been occurring in recent years, with large tech companies and hedge funds leading the charge. Plus, these businesses are also adding more perks to ensure employees are happy.

GS stock is down about 0.3% on Friday.