1. What are the key decision points used by S.G. Cowen in making hiring decisions? What is your evaluation of the process used by the firm?
The key decision points S.G. Cowen used in making hiring decision were two formal interviews and Super Saturday.
To hire new employees, S.G. Cowen firstly sends team captains to each core schools to make company presentations and conduct ‘informational interviews’ as a supporting activity for formal process. And after receiving resumes from students, the interviewing team conducts first-round interviews and second-round interviews quickly. And the candidates who passed two interviews are invited to the Super Saturday. In these processes, members of each team are bankers, not human resource professional.
The Super Saturday is the most distinguishing part of hiring process of S.G. Cowen. From Friday afternoon, invited candidates are served dinner and listen to CEO’s speech. And the next day after candidates had few sessions, the real recruiting committee discuss with the interviewers and make final decision.
These processes are very effective not only for the organization to select proper person but also for new employee to get used to the job.
Though the informal interviews are not formal process, through that the realistic job preview can be given to the candidates by the recruiting team, whose members are not HR experts, but the hands-on bankers. This can prevent the firm’s being in trouble that some new recruits quit the job because of the difference between expectation and reality. And since that interviewer who conducted the previous step also conduct the first and second round interviews so that they can exclude the applicants who is not enthusiastic or who doesn’t fit the job.
And in the Super Saturday, through dinner the seniors also can observe some factors outside the hiring process such as personality, communication skills. Since the discussion is done with many employees, it takes long time