SG Cowen is a bank that was formed in 1998 and expanded their operations across various regions apart from London, Dallas, and San Francisco. The company has since had a high impact in the areas where it grew, and this has led to the need for new employees to be recruited. Furthermore, this expansion raised concerns about ensuring uniformity of all their employees especially in small offices. The bank usually conducts hiring activities in early winter and spring of every year. The sources of recruitment at SG Cowen are internal and external. The external recruitment was dependent on students who had graduated from central business schools. On the other hand, those completing an internship program at the bank formed the internal hiring and recruitment process.
The case study entails the sequence of recruitment at SG Cowen. As such, some of the aspects involved in recruitment and selection in multi-national corporations will be highlighted. The measures employed in recruitment and selection will be evaluated as well as the candidates who should be considered for employment among the four final candidates.
Theoretical Evaluation & Analysis of Recruitment and Selection
Organizations that practice the best human resource management have been associated with high-performance levels. For a firm to perform well and towards the right direction, several methods need to be adopted. Among these are training and development and recruitment and selection. The adoption of effective human resource practices also results in an organization gaining competitive advantage that leads to high performance (Beh, & Loo, 2013). On the other hand, for high-performance work systems to be developed, it is vital for organizations to adopt efficient modes of recruitment and selection that will bring in candidates with the right or needed form of knowledge and skills. One of these is by conducting interviews in a precise form such that all the required expertise and knowledge will be identified in the selected candidates and only the most qualified will be considered for employment (Armstrong, 2000). Also, technology is being adopted to conduct staffing activities. This is as a result of increased globalization of the labor market and the economy as well as minimize the rate of biases when it comes to the selection and recruitment exercise (Chapman and Webster, 2003). Furthermore, in the current world, the social networks such as Twitter and Facebook are also used to attract candidates for job positions. These approaches are cheap and quite easy to utilize for most organizations seeking to employ more personnel (Beh and Loo, 2013).
SG Cowen has opted to adopt the recruitment form of on-campus where candidates physically meet the employers. For the right individuals to be selected, interviews have been used by the bank. References from the employers also form a significant part of the approach employed by SG Cowen and assists to efficiently select the right candidates.
Key Decision Points in SG Cowen
Recruitment and selection by SG Cowen are conducted following certain steps. The first one entails a presentation of the bank to students in college. In this case, learners are well informed about the bank as well as the offers they have. The proposals are concerning the benefits they will obtain as a result of being a part of the firm. As such, SG Owen has been observed to adopt the campus form of recruitment where candidates are derived from the institution once the bank is presented to the college.
The second element entails conducting a kind of an informational interview. Those interested to be a part of the bank are given an opportunity to interact with the bankers. This stage is not entirely evaluative. Some part of the understanding of the learners was obtained through this particular step. The qualities of the students were then tested and their interest to be a part of the firm as well. Besides, the candidates are evaluated on whether they are self-starter or otherwise as it will determine the form of training they will need to fit in the job entirely. The third step of the hiring process is on-campus round. As such, interviews were carried out for the eligibility of the students to be checked especially for the Super Saturday round. The Super Saturday round then followed where thirty students who were chosen were called to undergo an interview process which was to be done by the senior employees. The final element entailed conducting an evaluation and assessment of the selected candidates for the necessary position.
Evaluation of SG Cowen selection criteria
Various methods were employed when selecting candidates for the jobs at SG Cowen. One of these was undertaking interviews that were done at different stages of the selection standards. The first form was the informational ones. It was then followed by interviews on-campus to the Super Saturday. All these assisted in developing effective opinions about the candidates. For reliability and validity to be enhanced in the selection criteria of SG Cowen, an evaluation sheet was utilized. Also, when conducting interviews, it is necessary to ensure that notes are taken to capture the essential qualities or aspects of a candidate. The notes should be brief and straight to the point (Truss, 2002). The cultural adjustment of the candidates was also assessed when undertaking the interviews by SG Cowen. In this case, they tested the candidates on whether they would relocate in case they were required to do so hence their flexibility and fit considered. Most people who are considered for employment for organizations have been observed to fail the part of cultural fit in that they may not be willing to adapt to a new environment or adjust to the requirements of the firm. As such, it is fundamental for companies to ensure that candidates considered for employment can adapt to any form of changes or new aspects that may exist in an organization (Colbert, 2004). On the other hand, any bias should be eliminated when conducting interviews. By the interviewer being biased, they pose a challenge to the effectiveness of the whole interview process. Some aspects that may affect the efficiency and even result of the interview negatively are such as race, sex, and attitude (Ishak, Abdullah and Ramli, 2011).
Apart from interviews, SG Cowen also relied on reference from employers. The background of those who had applied for jobs is quite significant when firms want to make a decision on whether they should hire an individual. However, in this case, SG Cowen did not seek for persona information about the applicant. Instead, it was all about the aptitude and capabilities of the individuals for the job. On the other hand, it has been depicted that SG Cowen did not seek for references from the previous employers of the candidates who had been selected. According to Hofstede (2002), these are quite vital when making the final decision on the hiring of individuals. In some cases, the previous employers may be reluctant to give out the required information. As such, its validity is usually questioned on whether it is fundamental since it may be falsified. Other important aspects to be considered are the number of references to seek and the amount of time to wait for their response when seeking to make the decision on hiring. Caldwell (2003) pointed out that gathering information from the previous employers was quite necessary for use in the evaluation of the candidates and mostly when the information provided is correct.
Justification of selection of two candidates
Most organizations when conducting hiring and placement activities, they usually face the challenge of deciding on the people to choose to fill the vacancies. As such, this makes the decision of hiring to be quite difficult just as it has been in SG Cowen. An analysis of the four candidates will be conducted and presented with consideration of their strengths and weaknesses. Moreover, a justification of the final decision to hire them will also be presented.
Candidate 1: Natalya GodlewskaOne of the strongest qualities that have been portrayed by this candidate is a high GPA. Additionally, there is also a good and quite adequate comprehension of the financial markets and a strong background in analysis. As such, this makes the individual a suitable candidate for the task in the organization. Also, positive remarks were also obtained from her previous employer that further contributed to the element of her skills in leadership, possession of work ethics and a positive attitude of being able to do most of the tasks. However, some weaknesses were also identified in this particular candidate. She had a low score in some of the interpersonal skills and communication. The element of communication was weakened by her English language that was seen not to meet the required expectations. This was further seen as not meeting the internal requirements of the organization. Upon analyzing this candidate, the implication formed is that she is a candidate who has qualified highly and has a strong academic background.
Candidate 2: Martin Street
This candidate portrayed a high level of confidence ad depicted coherency when communicating. Also, he also had excellent interpersonal skills that were accompanied with strong skills in leadership. As such, he would adjust easily in the organization especially as a result of the interpersonal relationships. He has, however, partake in various events involving recruitment and as such, once hired, he may not be fully committed to SG Cowen. The candidate may work with the mentality that he could get the firm at any time. His technical capabilities are also difficult to assess and determine since his grades are not well known. According to Caldwell (2003), depicting confidence and a form of teamwork is a good aspect for an employee, and this is evident in the case of Martin who also has an experience in the military. However, being in deals with other firms makes him be questioned as a trusted worker. Moreover, he is also not able to access or provide academic credentials, and this makes other candidates more suitable for hiring. Employee commitment to an organization is also significant as it will also assist the operations to thrive successfully.
Candidate 3: Ken Goldstein
He has been observed to be the best in leadership the possession of leadership skills. Also, his technical expertise are the best among the four candidates. However, concerning the element of work ethics, he was ranked the lowest. Work ethics are among the crucial elements in any organization since they determine the ability of an employee to uphold values such as integrity (Hendry, Woodward, Bradley and Perkins, 2000). Ken appears to be a perfect candidate for the job due to his leadership skills that have further been backed by positive reference from the previous employer. The issue with him is whether he will be in a position to establish a balance between work and life in a job that is quite demanding. Besides, there is also an issue on whether he will be comfortable taking up a junior position in the firm (Caspersz, 2006).
Candidate 4: Andy Sanchez
This candidate has depicted the best aspects of all the parameters that have been evaluated for the candidates. He has also made up a follow up on the informational interviews that were conducted. He also has a record of success from a business that he managed and had an excellent knowledge of the banking sector. However, Andy has a high interest in undertaking business that may have an adverse impact on his performance at work in the firm. Being committed to the firm in the long-term may thus be a problem for this candidate.
In consideration of all factors that should be possessed by potential candidates for employment such as ob...
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