Every single shortlisted competitor has the qualities to turn into a fruitful expert at SG Cowen. Be that as it may, the current workload is to choose the perfect hopefuls in light of the abilities level, duty and administration quality. At the point when basically dissected, the four hopefuls have great positive focuses; in this way, the current inquiry is what competitor has a more prominent shortcoming that would keep him from turning into a perfect decision.
SG Cowen had a somewhat different strategy while selecting the core schools it is going to target for recruiting process. Rather than targeting the top 10 B schools, the firm targeted the next top 15 schools among the top 25. This strategy was to attract the best students in the colleges rather than recruiting average students from the top 10 B schools. The firm's presentations as mentioned earlier were used as means by team captains to give detailed information to students. At the same time, the presentations showed the growth the firm provides as well as the employee empowerment enjoyed by the SG Cowen employees.
The presentations done by team captain were also beneficial from their point of view as their recruitment activities were included in their performance reviews done at year end. Let us now breakdown the recruitment process followed by SG Cowen into two parts one involving the campus and the other the super Saturday.
SG Cowen followed two to three schedules at each campus. Initially, an open schedule was carried in this schedule students were given a chance to sign up based on their interest. In the remaining schedules, students were selected on the basis of their submitted resumes. The focus of the first round of interviews was to look for students who could make it to the next process of super Saturday. This was done in order to save precious time of top management. This process was carried out at each targeted campus in order to get the appropriate number of students for super Saturday. The interviewees for these rounds were mostly year old associates since they had much more first-hand experience of work in initial years. Moreover, they would be better of in assessing the skills of potential future employees. At the same time while assessing skills the firm gave huge importance to watch out for students who would best suit the culture of the firm. Thus the firm not only concentrated on the technical aspect but also on the cultural aspects. It wanted to hire students who would accept and help in developing the work culture at the firm.
The super Sunday used to be the final stage of the recruitment process where the candidates selected in the campus round would be further examined and interviewed. The firm held five half-hour sessions between candidate and interviewee. The firms objective was to have a full associate class of 30. The selected candidates were given off in investment banking the er
ones which accepted the offer returned for orientation to meet banking groups which attracted them most.
Let us first consider stage wise improvements which can be done. 1) Selection of B schools: The firm as if now is much more concerned with the ranking of the B school rather when considering it for recruitment base. Rather than this they should concentrate on B schools which have courses relative to the requirements and have specific courses. For instance, Tuck B School in Dartmouth has specific courses relative to investment banking.
2) Round 1 Interview: The firm used to use to make detailed notes and fill the evaluation form. In this case, a much more detailed evaluation should be carried out. A well-structured evaluation form with more versatile questions should be incorporated. Moreover, the records should be kept for the future recruitment process.
3) Round 2 Interview: The firm could consider having more rounds. The new rounds, however, should concentrate more on the issue of cultural fit. More stress on personality testing could be carried out. Moreover, the first round would be sufficient to analyze the technical skills of candidates.
4) Super Saturday: Though super Saturday had the presence of top officials. It had no intervention of interviewees involved testing of behavior and personality of individual candidates. Since culture and personality fit was one of the main criteria being looked forward by the firm. Moreover, since these round were the potential future employees using psychometric test would have proved beneficial as the company was is in need of people who were dynamic in thinking and fast learners
Let us now look at some overall improvements which could be done to improve the recruitment process
5) Using a better method of forecasting: A better forecasting method would have helped to increase the base of potential candidates. Moreover a more quantitative approach such as ratio analysis or scatter plot would have helped to reach value. 6) Means of advertising: Using the internet for job portals in association with B schools can help them to attract a much wider base and spreading information about their firm to potential candidates. Rather than relying on presentations and online FAQ could help in providing information at a faster rate.
Let us now try to solve the dilemma of the candidate to be selected for hiring purpose. Looking at the requirements that SG Cowen is looking forward for the best fit for the company would be Natalya Godlewska cause of following reasons. She is an MBA student from Cornell which is one of the core schools for SG Cowen. Her performance has been formidable as she had the highest GPA. Moreover, she has experience of 4 years in the M&A field. However, it seems that only her speaking capabilities are in question this issue can be easily resolved since she can be made to attend a variety of speaking courses. She has also shown the dynamic nature of hers as well as her fast learning capabilities cannot be undermined.
1. Decision on which two of the four candidates should be given an offer.
2. Recommendations for improving in the selection process for next year.