A lot of what made sense yesterday, before Credit Suisse failed, no longer makes sense. The Gardening Leave and claw back policies were designed to increase retention of top performers.
Those people are going to be looking for jobs one way or another. The best course of action is to enable their transitions, not impede them.They keeps switching costs high. Some companies hiring Credit Suisse investment bankers will offset some of their clawed back bonuses. All leavers lose 90-days of productivity.They’re not good for the people thinking about leaving. They feel worse about Credit Suisse.
They’re not good for Credit Suisse’s reputation. The publicity is awful. Potential lawsuits could be painful.
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