More than 70% of the participants in the Real Returns program in India were offered permanent employment at Credit Suisse
Chandigarh, October 12, 2016 : Credit Suisse, one of the world’s leading financial services companies, announced today thatits first return to work program in India - the Real Returns program - was completed with a high success rate.
Real Returns is a paid employment program run by Credit Suisse that provides support, training and networking opportunities for professionals who have been out of the workforce for an extended period of time.Credit Suisse first launched Real Returns in New York and London in 2014 and introduced the program in Zurich in 2015. In January 2016, India became the bank’s first location in Asia Pacific to roll out the program. The program has attracted nearly 3,000 applicants globally since inception, of which, nearly 400 are in India.
The program is particularly beneficial for female professionals, due to the high percentage of women who take mid-career breaks, oftentimes to fulfil family commitments.Following an extensive assessment process,a total of 23 women out of approximately 130were selected for the Real Returns program in India. These participants joined Credit Suisse’soffices in Mumbai and Pune. Upon completing the program, over 70% of the participants have accepted full-time offers of employment at the bank, with many of them taking up officer-grade positions.
One of the unique features of the Real Returns program is its wide reach within Credit Suisse. For the duration of the program, participants were placed into business units across the bank including Finance, Risk, Technology, Operations, Compliance, Prime Services, Equity Research and Human Resources. They were given the opportunity to work on important projects and also undertook an extensive training program designed to refresh their core business skills, develop their industry knowledge and strengthen their professional and personal competencies. They were also mentored throughout the program by senior executives at Credit Suisse.
Mickey Doshi, CEO India at Credit Suisse, said: “We are committed to building a diverse and inclusive workforce, and Real Returns is a very positive way for us to do this. The program has attracted highly skilled individuals and has provided the bank with access to experienced professionals with proven, transferable skills who maynot otherwise have been considered due to their time away from the workplace for various reasons.”
Commenting on the benefits of the program, Meenakshi KS, Global Head of Human Resources for Credit Suisse’s Business Delivery Centers (BDCs) and Head of Credit Suisse Powai said: “India has one of the world’s lowest female labor participation rates at 23-24%[i]. Many highly qualified female professionals in mid to senior positions in India leave their jobs to fulfill family commitments.Through the internship period offered by the Real Returns program, participants have the opportunity to transition back into work, build new relationships, expand their own professional networks and test their ability to balance work and life.” She added: “Credit Suisse cares about the future of its Real Returns participants and offers valuable experience for those who are ready to restart their career, either at Credit Suisse or elsewhere.”
Real Returns participant Preeti Naphade, who took a two year-career break to raise a family, said: “It has been an enlightening, enriching and eye-opening experience. Irrespective of whether we find a job at the end of the program, you cannot take away the confidence that the program has given us. The most unique thing about this program is that it is making small waves in society and challenging the mindset that exists around people taking breaks in their careers.”
Participant Snehal Kakirde said: “Real Returns is one of the best things that has happened to me. I am impressed by the program and feel valued at work. It is a great comeback. I never thought I would be so happy to return to work and that my second innings would be this rewarding.”
According to a report released by the Credit Suisse Research Institute entitled “The CS Gender 3000: The Reward for Change,” India saw a slight decline in management diversity, from 7.8% in 2014 to 7.2%. India is the second lowest among all the Asian countries in terms of female representation at a senior management level, behind Japan and South Korea (both at 2.3%).
Credit Suisse strives to be an employer of choice by attracting and retaining the best and most diverse talent. Gender diversity is one of the bank’s strategic priorities and various initiatives are being implemented by Credit Suisse India –from the campus hiring stage through to talent development and retention.
By providing career opportunities and training programs for women, Credit Suisse aims to foster diversity of thought and to create a broader range of business opportunities as an integral part of its corporate strategy. Credit Suisse has implemented various diversity and inclusion initiatives, including Campus Hiring, Lateral Hiring, Talent Development and the Women’s Network, as well as implementing a Flexible Work policy to facilitate the transition back into the workforce.
To find out more about the Real Returns program in India and the upcoming 2017 program intake, please visit the Real Returns web page: www.credit-suisse.com/realreturns
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47’180 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.