The Evaluation of the Hiring Process Used By the Firm Case Study - 1

The Evaluation of the Hiring Process Used By the Firm - Case Study Example This reflects a well thought out approach to hiring process which might yield undesirable results if conducted haphazardly or in a hurry or if started late as that would leave the firm to choose from only the leftovers that have been rejected by all prospective employers that have commenced and completed their entire recruitment process even before S. G. Cowen had made any moves. S.G. Cowen already has with them associates who had joined the firm as interns when they were in their first or second year in a business school. These associates had joined the firm in the break between their first and second years in their business schools and were offered full-time employment as they completed their internship that started the following summer. Some other associates had never been to a business school but had served as interns in the firm for three years and were promoted as first-year associates after they completed their internship. Very often officials of S.G. Cowen conduct ‘informational interviews’ prior to the actual formal process to gauge the level of seriousness and intent of the prospective candidates. Though this is essentially an informal process it helps the firm to focus on serious candidates and thus reduces unnecessary efforts on those that are genuinely not interested and have appeared just for the sake of appearing. It must be mentioned that prospective candidates have to appear for these informal interviews at their own expense thus automatically segregating those that were seriously interested from those that are rather casual about the whole process. S.G. Cowen also appointed ‘group captains’ or contact persons at every core business school to ensure students always had someone through whom they would be able to remain in constant contact with the firm. These contact persons are seldom ever from the human resource department. Rather, they are professional investment bankers with long years of service with the firm. These people served the twin purposes of locating the best possible candidates who would be able to seamlessly merge with the company and also attracting students who though interested in investment banking but are not quite sure as to which firm they would join.  Ã‚