1. What are the key decision points used by SG Cowen in making hiring decisions?
Several key decision points are used by SG Cowen in the recruitment process. Firstly, Rae’s new strategy was to extend the “on campus recruiting” process to the top 25 schools. SG Cowen professionals conduct “informational interviews” with students in the office in advance of official first-round interviews; allowing SG Cowen to gauge seriousness of the candidates and for the candidates to learn more about the firm and the industry. In addition, SG Cowen recognised the existence of competing corporations such as Citigroup and JPMorgan Chase. For this reason, they had to strive to acquire the best students before their competitors got them.
Another key decision
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According to the human capital theory, these are non-transferrable assets, skills that even star performers cannot take with them when they switch companies. However as the candidates rise up in the hierarchy, taking on more senior roles, certain skills/experience/competencies they acquire on the job would be transferrable to another firm. On the other extreme end of the human capital theory, general management human capital are often transferrable, general management skills such as setting a vision, motivating employees, organizing, budgeting and monitoring performance have been shown to translate well to new environments.
4. How well does SG Cowen’s recruitment and hiring process contribute to the company’s key success factor?
Ultimately, SG Cowen key success factor lies on its employees. SG Cowen had in place a rigorous hiring process as seen in the ‘on campus recruitment’ in order to attract and hire people that is of the right fit for the organisation. During the hiring process, SG Cowen ensured that the candidate pursue an interest in the company while having the essential skills required to perform the job. This avoids hiring a candidate who is often missing or do not exhibit the drive to work in the company, resulting to a waste of resources and time for the recruitment team.
What changes, if any, do you recommend? Consider SG Cowen’s priorities and create a talent acquisition action
The recruitment and selection process have different stage that all have to be to follow, to select the right candidates for the job vacancies.
Question 4: What did you learn about the relationship between workforce management and business results?
It is vitally important for any organization to hire the best candidates for their company. “The hiring approach or strategy is imperative to any organization seeking to dominate or sustain themselves with-in their market-place.” (Sullivan, Dr. John, July, 25, 2011).
Produce a report of approximately 750 words, in which you identify and assess 4 factors that affect an organisation’s approach to both attracting talent and recruitment and selection. Identify and explain 3 organisational benefits of attracting and retaining a diverse workforce. Describe 3 methods of recruitment and 3 methods of selection.
Identify and assess at least 4 factors that affect an organization’s approach to attracting talent.
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”
As a human resources manager, the primary task is to ensure that only the best candidates are called for interview. In essence, academic credentials are not enough to determine a candidate’s suitability. During the interview, it is important to ensure that the applicant has required skills to meet the firm’s objectives. For example, a given person might have the best academic qualifications as per the job’s description but lack other important aspects such as ability to work in the team and good communication skills. During the interview, such traits should be noted to disqualify applicants who cannot meet fundamental requirements of a team player.
What should Coach P. have done differently earlier in the season to resolve this problem? At exactly what point should he have intervened differently? Relate your answer to how the change you are suggesting eliminates some of the root causes.
In looking at GSU’s hiring process, there is room for improvement. To narrow down the hiring process to a more manageable one, one must look at the entire process and the goal of hiring of the best applicant no matter how long it takes. While this is an attainable goal, GSU faces many challenges of the workforce atmosphere. So this comes into questions if speeding up the hiring process will result in the highest number of qualified applicants.
With the ever increasing pace of change in the world, today’s market leader can be out of business tomorrow if the organisation fails to adapt to the changes around it. One of the key assets of each organisation is its human capital, i.e. the knowledge, skills and abilities of its staff. If the organisation is to adapt,
What are you looking for in a candidate? What kinds of personalities mesh/match best with the organization?
SG Cowen is a financial firm in the U.S. that is running a hiring process, conducted by Chip RAE who is the director of recruiting at SG Cowen. The case shows the modality through which the hiring process for new outside associates, which begins in the fall, works.
How effective was Ron Daniel in leading McKinsey to respond to challenges identified in the Commission on Firm Aims and Goals? What contribution did Fred Gluck make to the required changes?
1. Answer the questions for the case “integrating McDonald 's Business, Human Resource, and Staffing Strategies" page 49, Chapter 2. [ 15 Marks]