I joined Duff, as many do, as a result of an acquisition and lasted about 2 years. By the time I left, the majority of the people I came over with (from Analysts to Managing Directors) had already left or left shortly after me. This happens frequently throughout the company, whose growth strategy is more reliant on speedy acquisitions than organic growth. As a result, the overarching mentality is that people are disposable and what's left is a hodgepodge organization with no core values, culture or direction.
Some reasons Duff can't retain top or even mediocre talent (i.e., why you, too, will want to leave):
-Incredibly demoralizing incentive structures. Salaries are a ridiculously large range at each level and below market. Bonuses are laughable, even (especially) for top performers. If you even get a bonus, HR will withhold some of it to incentivize retention. I don't know why they think Directors (for example) are incentivized to stay for 2 years to collect on $2,000 for work already performed (no exaggeration), but they try.
-Despite high turnover (literally all the time), no solid process for recruiting and hiring. Positions are left open for months and even years. What happens then? You and your team are doing the work of 2+ people each. Clients notice downgraded quality. They leave. You leave. And HR gets to keep that $2,000 they withheld from last year's bonus.
-Bush league performance reviews; people fill out on online matrix and you're given your reviews after bonuses have already been allocated. Performance is not meaningful and there is absolutely zero interest in professional development. See above ("people are disposable"). If you're lucky (as I was), you'll have a solid manager who actually cares about you as a human but if they are good they will leave. Believe me, they will leave.
-Mediocre and oftentimes damaging middle management who have no idea how to run a group; classic situation whereby people are inexplicably promoted well past their abilities (look up the Peter principle).
-Utter lack of leadership and integrity from upper management. I know firsthand that violations that get reported to HR (over and over and over again) are swept under the rug. When I say "violations", think about things that ended up on newspaper headlines this year. Again, the company has no core values and that firmly comes from the top.
