I believe there are many different positives and negatives to the hiring process
used by the firm. I would say that the negatives are they open themselves up for biases
because they allow certain bankers to make a decision on candidates. This opens the
company up to potential bias due to bankers inviting only people they like to Super
Saturday rather than the best candidate. They also might make decisions with a “just like
me” bias, which can impact the final result. It is also evident that there is a bias when you
add in the fact that the Bankers bonus at the end of the year could be impacted by the fact
they find the right candidate, which could lead to overzealous Bankers rather than
looking for the best fit. Another negative about the selection process is the fact that at the
college campus first official interviews the candidate’s fate is decided. Some people
might not have a stellar first interview, thus never getting a chance to go to the Super
Saturday. So, not only are the candidates chosen for the Super Saturday based on some
sort of bias there are other factors that have a negative impact. During the selection
process the Bankers narrowed it down to four individuals that were maybes. During this
time the Bankers called the candidate’s references on their resumes. This tactic has a low
validity score on the different tactics they could have used. Also near the end of the
selection process on the Super Saturday the Bankers were getting restless and wanting to
choose anyone of the four left. One of them even said that it was their anniversary and
their wife would kill him if he doesn’t get home soon.
The positives of the selection process are the fact that they do not go to the top
tier schools. The reason this is a positive aspect of their selection process is the fact that
their candidates will most likely be more creative and loyal to the company. People that
have to work for everything they have in life tend to enjoy and appreciate the process it
takes to get where they are. Another big positive that I saw in the Super Saturday
selection process is the CEO is present and talks to the candidates. This is something that
inspires young professionals when they can see the CEO actually cares about the new
people coming into the business.