sg cowen new recruits
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UC3MManaging PeopleMaster in Management
Case StudySG Cowen: New Recruits
Team members:
Ines HaitzingerKaren HintelmannLeonie SteegersAnny Yen
Page 212/02/21
Agenda
1. 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?
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Candidate selection from the “next 15” top universities instead of limiting their search to the top 10.
► Students from less prestigious schools are equally trained meet Cowens requirements: loyalty, commitment, and cutural fit
SG Cowen’s current selection methods
Top candidates from top 25 universities
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.
Noncore schools
SG Cowen recruits tallented associates and interns who have previously gained work experience with them.
► Again, this method brings loyal and commited workforce to the firm.
Former associates and interns
1. a) Why does SG Cowen focus on top business schools for recruitment?
Cowen’s aim is to find loyal and committed candidates with a strong cultural fit.
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1 b) What other possible sources could Cowen have used?
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2 a) How do you assess the way they select candidates?
Team captains at core university conducting informal interviews and rough assessments.
Two or tree dates (at least one open one, the rest closed through previously submitted resumes).► Choosing candidates for Super
Saturday.
There is a potential bias in the selectionprocess, due to personal preferences and due to time constraints from the bankers’ side.
Team captains get remunerated by year-end bonuses and are held liable for the quality of the candidates, but there is a high potential for bias due to different ways of pre-evaluation.Senior employees are less demanding concerning the candidate´s skills, junior associates are much stricter.
- Decision makers want to get theprocedure over with as quickly as possible, as event is organized in their free time.May lead to the wrong choice of candidates.
It is difficult for bankers to take the selection decision based on whether the candidates would be suitable only for working among their team, or whether they would also be suitable as co-managers.Achieving consensus is also difficult.
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On-Campus Round Super Saturday
Decision making carried out collectively by Cowen's bankers.
Highly motivating for bankers to decide.► It is positive that candidates do not
depend on one-vote decisions.► Furthermore the company's CEO is
present and provides support by holding insipiring speeches to attract potential employees.
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2 b) What specific best practises would you recommend to assess and select candidates?
Pre-selects potential candidates automatically. ► May send job and event offers to candiates and file
candidates' data for future reference.
Best practises
Online DataProfiles
Tests in which analytical and mathematical skills as well as the candidate’s reasoning are being tested online.
Pre-selection online tests
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.
Phase interviews
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3. Candidate Selection
Martin Street
PROsability to adjust & carry out ordersambitiousconfident personality presentation &articulation skills
CONsno business experiencelack of problem solving and creativityuncertainty about gradesinvolved in other selection processes possibility to change to other firm
Natalia Godlewska
CONsstiff & uncomfortable during small talklevel of English trouble with impatient co-workerslack of cultural fit frustration & low loyalty
PROshard-working & commitedspeaks several languageshighest GPAwork experience
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3. Candidate Selection
Andy Sanchez
PROsvery strong entrepreneurial spiritenthusiastic and social personalityperfect cultural fithighly ambitious
CONsBelow average school results but excellent GMAT and SAT results; had to work during schoolmay not be able to detach from his own firm
Ken Goldstein
CONsmarried and kids lower willingness to work 24/7difficulties to take orders from superiors due to own leadership experience
PROsvaluable work experienceexcellent recommendationstrong social skillshighly commited & loyal