Recruiting season 2017: What Goldman Sachs didn’t do
Expr3ss! is pleased to announce that predictive hiring technology is once again disrupting the status quo and improving the way companies staff up. Goldman Sachs recently announced a major overhaul of its student recruitment efforts. For the first time in its history, the global investment goliath ceased first-round interviews with undergrads on college campuses.
Instead, Goldman Sachs reviewed its recruiting process and decided to leverage technology to find the best candidates.
“The question is who is the right student? And when I say ‘right’ (I mean) who’s more likely to have a longer-term career at the firm and fit in with the culture, do the right things.”
Russell Horwitz, Co-Chief Operating Office, Securities Division, Goldman Sachs
What Goldman Sachs Wants in New Hires
Skills are easy to assess, but they are not necessarily predictive of whether a prospective hire will bring long-term value to a company. Horwitz notes that many of Goldman Sachs most successful staffers would likely have been overlooked by recruiters because they didn’t attend “target” universities or have the skill sets favoured in traditional interviews.
With Expr3ss! predictive hiring technology, employers get a snapshot that looks at more than traditional skills. Our software analyses the same valuable candidate attributes that guide Goldman Sachs worldwide recruiting efforts:
Judgement
Integrity
Problem-solving skills
6 Essentials Goldman Sachs Offers New Hires
Mike Desmarais, Goldman’s global head of recruiting, acknowledges that competition is fierce for them when it comes to attracting the best of the best. He told Business Insider,
“Keep in mind that we don’t just compete against other investment banks. We compete against any major corporation in the world that wants to hire excellent talent, which is pretty much any major corporation in the world.”
That competition continues long after prospects are hired, as companies work to retain their best employees. Goldman Sachs works with its new hires to help them find their place and stay engaged with
An initiation to the company
Tools necessary for professional growth
Opportunities for networking
Opportunities for advancement
Ongoing training
Performance reviews and feedback
What’s Next?
As Expr3ss!, our customers attest, predictive hiring technology makes it possible to trim expenses related to in-person recruitment process by letting technology do the heavy lifting. In just 48 hours, Expr3ss! can deploy customised software that quickly and efficiently produces a short-list of pre-qualified prospects with the right skills and right cultural fit for a specific organisation.
One of the key features of predictive hiring technology is that it levels the playing field. With it, SMEs and mid-sized companies with limited resources can reach the same talent as businesses with big budgets. https://insidesmallbusiness.com.au/planning-management/science-talent-selection
If you’d like to discover how to improve your recruitment and retention processes without emptying your coffers, please contact our dedicated team for a tour of our products.
