SG Cowen New Recruits


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SG Cowen New Recruits

  1. 1. UC3MManaging PeopleMaster in ManagementCase StudySG Cowen: New RecruitsTeam members:Ines HaitzingerKaren HintelmannLeonie SteegersAnny Yen Page 1
  2. 2. Agenda1. a) Why does Cowen focus on top business schools for recruitment? b) What other possible sources could Cowen have used?2. a) How do you assess the way they select candidates? b) What specific best practises would you recommend to assess and select candidates?3. Which 2 candidates would you select if you were a member of the recruiting committee? Page 212/02/21
  3. 3. SG Cowen’s current 1. a) Why does SG Cowen focus on top business schools forselection methods recruitment? Cowen’s aim is to find loyal and committed candidates with a strong cultural fit. Top candidates Candidate selection from the “next 15” top universities instead of from top 25 limiting their search to the top 10. universities ► Students from less prestigious schools are equally trained meet Cowens requirements: loyalty, commitment, and cutural fit Noncore schools Also students from noncore universities have a chance to be recruited. ► They have to travel farther to SG Cowen’s headquarters; for the company conveys a strong keenness to get in. Former associates SG Cowen recruits tallented associates and interns who have and interns previously gained work experience with them. ► Again, this method brings loyal and commited workforce to the firm. Page 3
  4. 4. 1 b) What other possible sources could Cowenhave used? Page 4
  5. 5. 2 a) How do you assess the way they selectcandidates?On-Campus Round Super SaturdayTeam captains at core university conducting Decision making carried out collectively byinformal interviews and rough assessments. Cowens bankers. Two or tree dates (at least one open one, the Highly motivating for bankers to decide. rest closed through previously submitted ► It is positive that candidates do not depend resumes). on one-vote decisions. ► Choosing candidates for Super Saturday. ► Furthermore the companys CEO is present and provides support by holding insipiring speeches to attract potential employees.There is a potential bias in the selection -process, due to personal preferences and due to Decision makers want to get the - procedure over with as quickly as possible, astime constraints from the bankers’ side. event is organized in their free time. May lead to the wrong choice of candidates.Team captains get remunerated by year-endbonuses and are held liable for the quality of the It is difficult for bankers to take the selectioncandidates, but there is a high potential for bias decision based on whether the candidates woulddue to different ways of pre-evaluation. be suitable only for working among their team, orSenior employees are less demanding concerning whether they would also be suitable as co-the candidate´s skills, junior associates are much managers.stricter. Achieving consensus is also difficult. Page 5
  6. 6. 2 b) What specific best practises would yourecommend to assess and select candidates?Best practises Online Data Pre-selects potential candidates automatically. Profiles ► May send job and event offers to candiates and file candidates data for future reference. Pre-selection Tests in which analytical and mathematical skills as well as the online tests candidate’s reasoning are being tested online. Phase interviews Aside from their on campus selection procedures. These may start by a phone interview, continue with a pre-selection interview and end at the 3rd or 4th stage with an interview with the board or alternatively lead to an invitation to an assessment center. Page 6
  7. 7. 3. Candidate SelectionNatalia Godlewska Martin StreetPROs PROs hard-working & commited ability to adjust & carry out orders speaks several languages ambitious highest GPA confident personality work experience presentation & articulation skillsCONs CONs• stiff & uncomfortable during small talk • no business experience• level of English  trouble with impatient • lack of problem solving and creativity co-workers • uncertainty about grades• lack of cultural fit  frustration & low • involved in other selection processes  loyalty possibility to change to other firm Page 7
  8. 8. 3. Candidate SelectionKen Goldstein Andy SanchezPROs PROs valuable work experience very strong entrepreneurial spirit excellent recommendation enthusiastic and social personality strong social skills perfect cultural fit highly commited & loyal highly ambitiousCONs CONs• married and kids  lower willingness to Below average school results  but work 24/7 excellent GMAT and SAT results; had to• difficulties to take orders from superiors work during school due to own leadership experience may not be able to detach from his own firm Page 8