New Recruits in SG Cowen

  IRIS RUNNING CRANE CASE STUDY Iris Running Crane, an MBA graduate candidate, is trying to choose among three different job offers in private equity sector. Her first option is Sunstorm Investment Group, which is one of the most respected buyout groups in the world. Her second option is Red Horse Partners, which is a middle-market LBO group. The third is Lepus Capital; tries to reposition itself like a turnaround expert, beginning using its own portfolio. In this study case, I will try to analyze the advantages and disadvantages of each offers and try to determine which offer might be the best for her personal career goals in the future. Before analyzing job offers, I determined the expectation of Iris about her job

Developing a recruitment and selection process with high standards is what will result in attaining personnel capable of amplifying excellence, which is the first step of the second principle, known as raising the bar. “Regardless of whether the company is large or small, hiring the best and brightest employees lays a strong foundation for excellence”

Imagine you are head of the HR department, and you have been asked to review two applicants for the sales clerk position at your company. Alice, the first applicant has 10 years of experience in sales work, but can be easily distracted. She will not work on commission and cannot work weekends. She can be a little obstinate, but has an excellent job history. Mary, the second applicant, has one year experience, but very congenial and loves working with people. Her work schedule is very flexible, but she can become a little stressed at times and has been known for having to quietly leave and regroup for a short time. Determine which candidate

In order for our hiring team to narrow our applicant pool down to three, we had to assess each applicant using our application rating sheets. To hire for FOH Manager, there was only enough time on selection

Business has rules for just about everything important things like capital expenditures, accounting, and product design and testing. When to come to work, there aren't any rules for what's supposedly the most important thing a company needs to do hire and retain top talent. Not all selection predictors are of equal importance to an organization. Some methods may prove to be more valid and reliable in one organization and not as valid and reliable in anot

One reason, was it took an entire year to receive feedback from management on their competency and how effective they were on the job. An employee whose an over achiever and always manages to go above average, would be looking for only positive evaluation assessments after a year. When informed of negative responses or areas of improvement, this leaves an employee in surprise and confused. Also, the employees were not provided any feedback/ recommendations as it related to their performance. Someone who’s a top performer rely on feedback and constructive criticism to help them stay on top.

One specific function Riordan uses to attract and maintain the best qualified candidate is; their “Compensation Philosophy/strategy. Riordan’s Human Resource Department conducts external environmental scans to determine the median pay. Hire the desired employee’s at median, yet competitive wages. Orchestrate a collaboration of employee’s to assemble teams, and compensate/reward according to innovations, ideas, achievements, etc. This approach encourages/motivates teamwork, which make Riordan a close net company, and also “allow for considerable flexibility in rewarding individual performers based on their specific skills and contributions.” (Virtual Organization, Apollo Group, 2011).

For many years, company recruiters and hiring managers had the same tools at their disposal to locate and evaluate job applicants. Finding the right person for a job often was and still is a lengthy and costly process. The payout for selecting the best candidate can be significant, and hiring the wrong person can be costly, yet often mistakes are hard to avoid. The wrong

The forced ranking is a very harsh rating system in my eyes. I believe the forced ranking system is unethical. Eliminating the bottom ten of an organization ever year can be costly to a company. It promotes employee turnover and increases the company’s labor cost. Recruiting, hiring and training new people to replace the terminated employees can be very expensive. There is no guarantee that the newly-hired employees will be any better than the old employees that were eliminated. This system is not fair to employees and emp0loyees don’t have faith in this system. There is better ways to manage performance and there are effective ways to improve performance level of employees. Management can control performance by exploring the causes of performance problem, what cause the problem, develop an effective plan and empower their employees to reach a solution, communicate with the worker and provide positive feedback. Once an employee has been identified as a non productive employees, management should find out why the employee is not productive and offer them coaching or training to help the individual.

Once nominated, the firm compiled a dossier for the candidate. The first page included the candidate’s picture followed by, “notes on counseling sessions, staff performance evaluations, partners’ evaluations, statistical analyses of the quartile rankings for the candidate in each of the evaluation categories, and comparative rankings…” Partners that worked intimately with the candidates were invited to submit a long from evaluation, while partners who had limited contact submitted a short form evaluation. Rarely, partners who submitted evaluations were interviewed to establish a basis for the comments. The next step was for the admissions committee to meet for three days to discuss their initial consideration for the candidate. The committee member that visited the candidate’s office would summarize their visit. In the summary, they would highlight the strength of office support for the candidate as well as their perceived strengths and weaknesses. The partners would then vote in favor of, against or to put the candidate on hold. An important aspect to note about the voting process was that no votes are given a greater weight than yes or hold votes. The committee recommended candidates after the three-day

In a multiple hurdle selections system all applicants must pass each assessment hurdle in order to continue in the process (Heneman, Judge, and Kammeyer-Mueller. 2012). Each hurdle is scored as pass or fail (passing scores are set with a method to determine cut scores) and only applicants that pass may proceed to the next hurdle. Failure to pass a hurdle results in the applicant being removed from further consideration (Phillips.2016). This method appeals to firms in situations where there is a large applicant pool for a small number of openings (The Devine Group. N.d). This process is more beneficial to firms as it is more costly and time-consuming to have all candidates go through all of the steps in the hiring process. It is very inefficient to process all information that the firm will collect on many candidates. Applications, experience, telephone screening interviews and online testing are viable options for screening out large numbers of applicants at a relatively low cost. More costly and time-consuming tools, such as simulations and interviews by hiring managers, are administered near the end of the process and are used in making the final decision.

The topic I chose to research and discuss is the topic of recruiting and retaining the best employees. I chose this subject because I felt it was important for an employer trying to compete in this very competitive business environment, no matter what the business is, to be able not only hire the best and most qualified employees but retain them and keep them motivated. The ability to distinguish the difference between high performing employees and lower performing employees can be detrimental to a company’s success or failure. In retrospect, this goes back to recruiting and retaining the best employees while avoiding and being able to let go of those of a weaker caliber. Before an organization can thrive in recruitment and retention,

No. 1: Evaluate John Taylor and Marty Grayson’s effort to identify the opportunity. Are they the right people for this opportunity? Why or why not?

One of the most crucial elements of a successful or productive organization is an effective employee selection process. The significance of this process emanates from the fact that how workers carry out their jobs plays a crucial role in determining the level and extent of success of an organization. Due to the significance of an employee selection process, organizations draw candidates for open positions from the labor market. Actually, top-performing or successful organizations draw candidates from approximately 60 percent of the labor market. This trend includes sourcing for passive candidates who would prefer to remain contented with their present job. Moreover, organizations will relatively low or poor performance draws candidates from nearly 40 percent of the labor market and active workforce. An example of a top-performing organization that draws candidates from the labor market is Wal-Mart. The labor market plays a crucial role in employee selection with regards to having a population with the necessary qualifications for working in various organizations.

It starts with the defining the job with a focus on job specifications (competencies) compatible with strategic goals and executing these goals. In the last lesson also we went on the importance of descriptions so it is essential to structure what kind of job requirements needed according to specifications.