SG Cowen is a investment banking firm based in the United States, born when Societe Generale (France) decided to expand into the EEUU and bought the firm Cowen and the company in 1998.They are a relatively small firm, more focused on the quality and service of their product than in the volume. The recruiting committee of SG Cowen is facing an important decision in regards to selecting two persons from the pool of four remaining candidates after all definite “Yes” and “No” have been identified. The company has held a meeting where they must decide among 30 different candidates, they faced with the last four, with the dilemma of which ones to employ for the last two places. The ...view middle of the document...
The company would make presentations in the core schools, but resumes from non-core schools would also be accepted. The presentations focused on educating the students about the company and the advantages of being a part of S G Cowen. They would have a couple days to prepare for the presentation. The topic will be a fictional case that could mask a potential SG Cowen business problem. Candidates will be asked to use their creativity to analyze the case, recommend a solution and how to implement it in a 5 minute presentation. Interviewers will key on communication, problem solving skills, presentation appearance, creativity, but most importantly structure.
Major issues and the problem
* Identifying the right candidate who makes both functional and cultural fit for the company.
SG Cowen’s strategy is to recruit the best possible MBA candidates from the top schools in the country into their associates program. However, unstructured interviewing and hiring processes may not allow for the overall best candidates to be chosen.
SG Cowen’s hiring process is very challenging to its candidate in order to secure only the best talent available to them. The candidates that are even considered for interviews must have top notch educational and/or job accomplishment. The process begins as early as the fall with core B-school visits and info sessions, followed by campus interviews in closed sessions. If selected for the final round, candidates are invited to Super Saturday where the associates’ class will be selected. It’s an experience for candidates and the interviewers. The day consists of a formal dinner with leadership the night before where candidates are sized up, even in a non-business setting. The next morning, each candidate is assigned five thirty minute session interviews with assigned SG Cowen bank associates and leadership. After the interviews take place, all the interviewers meet to determine who gets job offers.
There are many flaws with SG Cowen’s procedure that are indicated in the case which are as follows:
* NO HR representatives available:
First, there are no HR representatives available to recruit, only bank professionals. These people are not formally trained in giving interviews which can easily lead to stereotyping candidates. This could be in regards to how a person talks, their marital status, education history, and/or physical appearance. This makes the process unfair.
* Time allocation for interview:
The thirty minute interviews are too short to determine if a candidate is capable of performing for SG Cowen.
The recruiting committee of SG Cowen is facing an important decision in regards to selecting two persons from the pool of four remaining candidates after all definite “Yes” and “No” have been identified. Potential mistake in identifying the right candidate who makes both functional and cultural fit for the company, especially giving approval to...