Skip to main content

Credit Suisse Knows You’ve Been Cheating On It

But it's not going to lose you without a fight, no matter how hard the JP Morgans, Goldman Sachses, and the-- oh god this one is a blow to the ego-- Deutsche Banks of the world try.
  • Author:
  • Updated:

HR could tell this was coming: You've been distant lately.

Maybe you haven’t been so base as to actually send out a résumé or take an interview. But infidelity is a state of mind, even if you haven’t told a cold-call recruiter that you’d be interested in learning about other opportunities.

You probably don’t know it yet, but the quants have invaded HR, and they’ve already got you pegged. They see the kind of words you’re using in e-mails. They know you’re blowing off the Outlook invites to drinks with the team. But Credit Suisse? She’s a persistent lover. She doesn’t want you to walk out that door (unless she does, in which case, ignore the above). And she’s going to fight for you. Because losing you means replacing you, and dating is pricey.

William Wolf, Credit Suisse’s global head of talent acquisition and development, says a one-point reduction in unwanted attrition rates saves the bank $75 million to $100 million a year….

For the past three years, Credit Suisse has studied what happens to employees over time, including raises, promotions and life transitions, to predict whether they will choose to stay or leave the bank in the subsequent year. Changing jobs makes people “sticky,” or likely to stay on, says Mr. Wolf, who oversees the bank’s people analytics team….

After observing that some who volunteered to be considered for internal moves ended up leaving for jobs elsewhere, bank recruiters began using attrition probability estimates in deciding which employees to target when positions opened up.

The Algorithm That Tells the Boss Who Might Quit [WSJ]


Photo: Getty Images.

Credit Suisse Changes Mind Re: Betting On President Trump’s Reasonableness

The Swiss decide that this Trump character might be a little mercurial.

Photo: Getty Images.

Credit Suisse Seems To Have A Hot Summer Mess On Its Hands

An alleged incident of tipsy intern handling has seemingly led to a lot of bitter confusion about how Wall Street works.