New Recruits in SG Cowen

2825 WordsJan 27, 201212 Pages
Case Preparation Summary – SG Cowen Short-Cycle Summary SG Cowen, an investment bank, is in the process of hiring a new class of associates. In this process, there remain two available positions, and Chip Rae, the Director of Recruiting, and a group of 30 bankers have four candidates to choose from. The group is having a hard time deciding how they will extend the offers, primarily due to their different opinions based on an evaluation system that allows biased and inconsistent feedback. The time frame for the decision is as soon as possible, since all present are anxious to leave given the inclement weather and the fact that this is a Saturday with bankers who would rather be home on their day off. Long-Cycle Summary Basic The main…show more content…
From the outset, critical incidents and key attributes are not selected resulting in a large gray area for candidates selection by the end of the process. There is no structured interview process in place leading the interviewers to be highly susceptible to bias and make decisions based on gut feel and intuition. No concrete and standardized method exists making a level playing field an impossibility which causes a comparison of employees to be unreliable across raters Because the process has so many working parts, it makes the company feel like they are getting the best employees in the best way. This is not likely the case and it is very inefficient. Doing the wrong thing a lot never makes it right. By involving hiring in bonus incentive procedures, SG Cowen creates an internal conflict of interest. This can cause interviewers to push for there candidates beyond where they should in self interest. Dramatic changes in the industry as a whole also led to issues for the company. There was a dramatic shift in the caliber of employees, necessitating a change in hiring practices. This precipitated the creation of an inefficient, if comprehensive, hiring practice Qualitative/Quantitative While there is little data provided to back up quantitative claims to the success of the hiring procedures, we do get a few numbers to work with. The case gives us insight into how candidates

More about New Recruits in SG Cowen

Open Document