S G Coven

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S G Cowen New
Recruits
Case Write Up --- Group 7 Section B

By:
Sahil Saini
Sahil Satiya
SambhavTayal
Saurabh Mishra
3/15/2011

Abstract
The case of SG Cowen basically deals with the recruitment process followed by the company. It deals with the various stages of hiring process followed by the company in order to satisfy its increasing demand for talented associates. Since the company was expanding and was looking forward to extend into new horizons hiring was an important aspect for its overall growth and establishing its strategic goals. The case shows the various processes and issues that can crop up while recruitment process and the importance of finding employees that best fit with the organization. The case showcases that recruitment process forms a strong base for any firm to survive and prosper in the dynamic competitive market.

Introduction
Let us first look at some of the basic facts about the firm S G Cowen. S G Cowen was acquired by Societe Genrale in 1998 which itself was an international bank. However being an European bank it was looking forward to expand its operations in US. Initially Cowen was known for its top tier research and strong equity sales and trading. However since its acquisition it focused on investment banking and M&A advisory services. S G Cowen had 1500 professionals and planned to remain a boutique-Sized firm having access to parent firm¶s balance sheet. Their new area of concentration involved investments in health care and technology. Since both these sectors provided a strong growth in near future. Though they had geographically expanded to various locations they laid importance of increased interactions among employees from different offices especially from smaller ones this was important for information flow and to achieve a well coordinated client activity. As far as the contemporary market of investment market was concerned consolidation was widespread. The time period also represented a dip in profits forcing certain firms for lay offs thus retuning talent had become an important issue. In order to retain talent firms provided fixed bonus payments as well as profit sharing agreements. Moreover firms were developing guidelines to keep research teams independentfrom bankers and their clients in order to protect investors from following analysts and investing in stocks which were falling.

From the above scenarios it was clear that looking for talent pool for recruitment was the need of the hour. Though well established banks expected to witness and increased interest from students looking for jobs and seeking secured jobs. But on the contrary the interest among students seems to be dwindling. On top of that recruiting yields had gone higher and handling of new recruits seemed to be a mammoth task as business slowed down. Let us now analyse the various strategies and processes followed by SG Cowen to overcome the above issues and hire the best people that best fit with the organization.

Analysis
The biggest base for recruiting purposes for S G Cowen was business schools. Hiring was done in early winter and spring for associates. Some positions of associates were filled by employees hired as analysts at end of three year period. Whereas certain associate positions were filled by interns and were offered full time employment at the end of their internship period. The firm targeted certain core business schools where presentations were made regarding the firm to provide first hand information to students. Before conducting any interviews the professionals from S G Cowen used to have informational interviews. These interviews helped not only S G Cowen but also students in assessing the firm. While targeting Business schools each school was assigned a team captain. These team captains were basically banking professionals and if possible in case they are alumni of a targeted B school would be assigned as team captain.

S G Cowen had a somewhat different strategy while...
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