Synopsis SG Cowen Case Study Shahzad PDF

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SG Cowen decided not to hire the last two candidates for their required associate position. The company wants to decide from the four candidates which have been remained because the bankers could not make consensus in the decision. However, the HRM practices are provided by the company and as well a...

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Synopsis

SG Cowen is one of the largest Investment bank and developed as a concept of a boutique bank, but remained competitive in its industry and effectively competing with Morgan Stanley and JP Morgan Chase. The company has presence in different parts of Europe, Asia, and the United States. The company hires top students from the second-tier universities forming the idea of recruiting hard working, loyal, and culturally associated students. SG Cowen decided not to hire the last two candidates for their required associate position. The company wants to decide from the four candidates which have been remained because the bankers could not make consensus in the decision. However, the HRM practices are provided by the company and as well as the characteristics and traits for the four candidates. The company wants to make recommendations for the last two candidates before the time runs out for the bankers. In the on-campus rounds, the company would assign team captains at core universities to conduct informal interviews to take a general assessment of potential candidates. The strategy comprises of two to three scheduling dates amongst which one open and other closed are selected which is based on the previously submitted resumes. The first interview is conducted upon which the interviewers decide their fate to enter the Super Saturday. The first interview has some potential weaknesses which allow associates and senior associates to select candidates based on their own preferences. On Super Saturday, 30 bankers were selected to interview the entire list of candidates amongst which only 20 would be selected. After interviews, a collective decision would be taken to adhere the consensus of all parties involved in assessment. The criteria for Super Saturday were based on selecting those candidates for which the banker would be willing to take that candidate to the CEO’s office if the criteria require to pick only one new associate. The aim of SG Cowen is to recruit those employees that are loyal and committed to the company and have the quality to be culturally fit. SG Cowen has a criterion of selecting students from the top 25 universities. However, the figure was changed from the criteria of top 10 core universities when the timings of recruitment did not match with the top universities as students were halfway mid in their semesters. Training is provided equally to all students to improve loyalty, commitment, and culturally fit. The company also has a criterion for selecting students from the non-core universities, only they must visit the company’s headquarters for enrolment. The candidates were judged, based on several parameters such as maturity, judgment, commitment to firm, leadership, interpersonal skills, work ethic and technical skills. As SG Cowen is a boutique investment bank therefore, the company emphasized on hiring the individuals for the

long term. The company hired three kinds of candidates for the Associate positions. These were summer interns, new outside hires from the business schools and analysts that have complete 3 years at a firm....