Case Study SG Cowen

Case Study SG Cowen SG Cowen: Recruitment process The hiring process in any company should be marched with the objectives to be attained by the new employees (Taylor 6). In fact, the set goals should inform the required skills and competencies during the hiring process (Turban and Daniel 733). In essence, for the firm to attain its goals and remain competitive, it must maintain a stream of skilled and competent employees (Barber 136).Advertising We will write a custom case study sample on Case Study: SG Cowen specifically for you for only $16.05 $11/page Learn More The key decision factors Cowen considers in making hiring decisions The hiring process in the company is based on the strategy of choosing the best candidate in the MBA class from the top business colleges. The candidates chosen are incorporated into the company’s associate programs. Even though the company is looking for the best talent, the criteria used in selecting the recruits do not secure talented candi date. The recruitment and the hiring process are even challenging. The considerations to the key positions include the high academic performances and considerable job accomplishments. Besides, the candidates must have attributes that are oriented towards the organization goals. An important area the company was considering includes exceptional academic achievement particularly in business. In addition, the candidate must show the right attitude and enthusiasm on the job to be provided. Other attributes the company was considering includes the interpersonal skills, social development skills, culture and communication skills. About the criteria The criteria used by the company to hire the best candidate are challenging and do not secure the talented candidates required. The hiring process begins by visiting business schools providing the information regarding the company intentions and the hiring process to the potential candidates. The visiting and the information provision process i s followed by the interview session, which is long and involve complex processes. As the case indicates, the hiring criteria in the company have many problems. First, the banking professionals undertake the hiring processes instead of the human resources managers. Human resources professionals are presumed to be having hiring skills and competency in the hiring process (Avery 672). Therefore, employing the banking professionals was a great mistake. Due to lack of formal training in the recruitment process, the SG Cowen employees ended up with recruitment criteria that stereotyped their candidates. The recruitment team considered factors such as the marital status, the type of English the candidate use, physical appearance as well as other personal attributes that does not add value to the firm (Agnvall 3).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, the candidate s are chosen according to the interviewer individual belief. The process leads to biases through which the candidates are chosen. As indicated in the case, the prejudice of individual towards a particular candidate can sway the whole team not to select the best candidate. The hiring criteria based on subjective measures compromises the attainment of the company objectives (Allen 77). The hiring process should not be based on long procedures. The hiring procedure should be specific to the competencies the company needs (Kiger 39). Since the hiring process in SG Cowen is long and based on subjectivity, the process can be described as being unfair. The two Candidates to Choose Selecting the best two candidates among the remaining pool of four candidates proved to be challenging task. In fact, this was the most important decision to be made by the recruiting bankers. Serious considerations have to be made regarding the candidates as all have the required qualifications. For the right ca ndidate to be selected, the bankers should look for the distinct attributes that differentiate the applicants (Billsberry 23). The attributes should add value to the firm (Ployhart et al 47). The bankers are to make decisions that have two important consequences to the organization. The decision on the type of recruit will affect the success of the company. In other words, the recruits the bankers are going to select will either make the company succeed or fail. Therefore, the candidates must have the right attitude towards the success of the organization goals (Overman 3). Generally, the success of the firm depends on the quality of its workforce. The quality of new hires must also imitate the quality needed in the workforce (Breaugh 103). The decision also influences the quality of the workforce. The bankers must identify the person having the cultural fit for the organization. Therefore, giving an approval for the right candidate who fit culturally within the organization is crit ical for the maintenance of the company reputation and credibility (Jattuso and Evans 139). In addition, making the right hiring decisions will increase the personal credentials as well as benefits that come with it.Advertising We will write a custom case study sample on Case Study: SG Cowen specifically for you for only $16.05 $11/page Learn More Based on the above criteria, the first candidate that could have been chosen among the four is Natalya Godlewska. The candidate possesses strong academic credentials compared to other candidates. The candidate holds good grades in both her MBA and undergraduate studies. In addition, the candidate has perfect referrals from her former employees. Among the distinct attributes the candidate possess include hardwork, determination, ambitious, and the right attitude towards work (Hansen 59). In addition, leaving its former jobs to join the firm indicates the enthusiasm and the right energy the candidate has towards the job. Even though some of the members expressed reservations on her cultural fit in terms of language barriers, the candidate still outfit the others based on her competence and experience. The candidate’s background explains her poor English but that will not have greater impact of her job delivery. Moreover, the candidate has successfully worked in other firms, which is a proof of success in her social skills. Further, the candidate has mastered her graduate courses in US graduate schools where English is used. Language does not determine the candidate social and cultural adaptability within the workplace (Backhaus 117) The second candidate that could have been chosen is Ken Goldstein. According to the criteria set by the company, all members of the team commended the candidate. In addition, the former employer has put the candidate in high evaluation points. Moreover, the former employer has recommended the candidate for high performance that the firm requires. Besides aca demic credentials and the company criteria, the candidate is a team player an attribute that is highly regarded by the firm. The reservations being expressed by some members that the candidate cannot fit among the recruits due to family commitments are based on subjective recruitment critter. In essence, such an attribute is not important as being competent and able to deliver the results.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The most important attribute the new hire should express is the commitment towards the organization success (Pulley 89). The success of the candidate in Price Waterhouse Coopers expresses his commitment despite additional domestic responsibilities. Such commitment will be simulated in the firm. Agnvall, Elizabeth. â€Å"Hiring at-home workers.† Staffing Management, 4.4 (2008): 2-5. Print. Allen, David.Retaining talent: A guide to analyzing and managing employee turnover. Alexandria: VA SHRM Foundation, 2008. Print. Avery, Dereck. â€Å"Reactions to diversity in recruitment advertising: Are differences black and white?† Journal of Applied Psychology, 88.4 (2003): 672-679. Backhaus, Kristine. â€Å"An exploration of corporate recruitment descriptions on Monster.com.† Journal of Business Communication, 41.2 (2004): 115-136. Print. Barber, Alison. The hiring challenge: Recruitment in small firms. Greenwich, CT: Information Age Publishing, 2005. Print. Billsberry, J ames. Experiencing recruitment and selection. Chichester, UK: John Wiley Sons, 2007. Print. Breaugh, James. â€Å"Employee recruitment: Current knowledge and important areas for future research.† Human Resource Management Review, 18.3 (2008): 103-118. Print. Hansen, Frank. â€Å"Employee referral programs, selective campus recruitment could touch off bias charges.† Workforce Management, 18.6 (2006): 58-59. Print. Jattuso, Mia and Evans Sinar. â€Å"Source effects in Internet-based screening procedures.† International Journal of Selection and Assessment, 11.7 (2003): 137-140. Print. Kiger, Patrick. â€Å"Burnishing your employment brand.† Workforce Management, 86.18 (2007): 39-45. Print. Overman, Stephenie. â€Å"Show off your brand.† Staffing Management 2.1 (2006): 2-6. Print. Ployhart, Robert, Benjamin Schneider and Neal Schmitt. Staffing organizations: Contemporary practice and theory. New York: Routledge, 2006. Print. Pulley, John. â€Å"When the grass wasn’t greener.† Staffing Management, 32.3. (2006): 89-91. Print. Taylor, William. â€Å"To hire sharp employees, recruit in sharp ways.† Staffing Management, 3.2 (2006): 6-7. Print. Turban, Daniel and Daniel Cable. â€Å"Firm reputation and applicant pool characteristics.† Journal of Organizational Behavior, 24.6 (2003): 733-751. Print.