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How a private equity boom fuelled the world’s biggest law firm
June 6, 2019 | Financial Times | James Fontanella-Khan and Sujeet Indap in New York and Barney Thompson in London.

Jeff Hammes took the helm at a Chicago-based law firm called Kirkland & Ellis in 2010, with the aim of turning it into a world-beater, few in the industry thought he stood a chance.......known as a good litigation firm in Chicago with a decent mid-market private equity practice, in the blockbuster dealmaking world, however, the firm was largely irrelevant. Nobody took them seriously on Wall Street.....Fuelled by explosive growth in private equity, aggressive poaching of talent and most of all, a business model that resembles a freewheeling investment bank, Kirkland has become the highest-grossing law firm in the world.....This rise reflects the shift in the financial world’s balance of power since the financial crisis. Investment banks, the dominant force before 2008, have been eclipsed by private equity firms, which now sit on hundreds of billions of dollars of investment funds.

Kirkland thrived by hitching itself to this dealmaking activity. The firm presents with a relentless — many say ruthless — focus on growth, a phenomenal work ethic and a desire to up-end what it sees as a lazy hierarchy. Key questions: can its winning streak can continue? Will its private equity clients continue to prosper? how will Kirkland cope if and when the private equity boom ends? And can a firm with such a hard-charging culture survive in the long run?....Robert Smith’s Vista Equity has grown to manage assets from $1bn to $46 in a decade while working with Kirkland.....To establish Kirkland as a major player, Mr Hammes turned his attention to recruitment. ....poaching proven M&A experts and targeting all areas of dealmaking.....To entice the best lawyers to join its ranks, Kirkland managed to exploit a structural rigidity in its more traditional white-shoe and magic circle rivals. A dwindling but still significant number of elite firms remunerate equity partners using a “lockstep” model......
Kirkland sought rising stars in their late thirties who were at the bottom of this ladder, stuck in the queue for the highest share of profits. Part of its pitch was money — “With compensation, we can go as high as we want,” says one partner — but the other part was an almost unprecedented level of autonomy.
Big_Law  booming  business_development  Chicago  compensation  concentration_risk  dealmakers  deal-making  eat_what_you_kill  financial_crises  growth  hard-charging  high-end  hiring  howto  hustle  Kirkland_Ellis  law  law_firms  litigation  mid-market  organizational_culture  poaching  private_equity  recruiting  Robert_Smith  superstars  talent  turnover  Vista  Wall_Street  winner-take-all  work_ethic  world-class 
june 2019 by jerryking
Amazon offers cautionary tale of AI-assisted hiring
January 23, 2019 | Financial Times | by Andrew Hill.

the task of working out how to get the right people on the bus has got harder since 2001 when Jim Collins first framed it, as it has become clearer — and more research has underlined — that diverse teams are better at innovation. For good reasons of equity and fairness, the quest for greater balance in business has focused on gender, race and background. But these are merely proxies for a more useful measure of difference that is much harder to assess, let alone hire for: cognitive diversity. Might this knotty problem be solved with the help of AI and machine learning? Ming is sceptical. As she points out, most problems with technology are not technology problems, but human problems. Since humans inevitably inherit cultural biases, it is impossible to build an “unbiased AI” for hiring. “You simply have to recognise that the biases exist and put in the effort to do more than those default systems point you towards,” she says...........What Amazon’s experience suggests is that instead of sending bots to crawl over candidates’ past achievements, companies should be exploring ways in which computers can help them to assess and develop the long term potential of the people they invite to board the bus. Recruiters should ask, in Ming’s words, “Who will [these prospective candidates] be three years from now when they’re at their peak productivity inside the company? And that might be a very different story than who will deliver peak productivity the moment they walk in the door.”
Amazon  artificial_intelligence  hiring  future-proofing  Jim_Collins  machine_learning  recruiting  teams  Vivienne_Ming  cautionary_tales  biases  diversity  intellectual_diversity  algorithms  questions  heterogeneity  the_right_people 
january 2019 by jerryking
Hedge funds fight back against tech in the war for talent
August 3, 2018 | | Financial Times | by Lindsay Fortado in London.

Like other industries competing for the top computer science talent, hedge funds are projecting an image that appeals to a new generation. The development is forcing a traditionally secretive industry into an unusual position: having to promote itself, and become cool.

The office revamp is all part of that plan, as hedge funds vie with technology companies for recruits who have expertise in machine learning, artificial intelligence and big data analytics, many of whom are garnering salaries of $150,000 or more straight out of university.

“A lot have gone down the Google route to offer more perks,” said Mr Roussanov, who works for the recruitment firm Selby Jennings in New York. “They’re trying to rebrand themselves as tech firms.”...While quantitative investing funds, which trade using computer algorithms, have been on the forefront of hiring these types of candidates, other hedge funds that rely on humans to make trading decisions are increasingly upping their quantitative capabilities in order to analyze reams of data faster.

The casual work atmosphere and flexible hours at tech firms such as Google have long been a strong draw, and hedge funds are making an effort to 'rebrand themselves' Besides the increasing amount of perks funds are trying to offer, like revamping their workplace and offering services such as free dry-cleaning, they are emphasizing the amount of money they are willing to spend on technology and the complexity of the problems in financial markets to entice recruits.

“The pitch is . . . this is a very data-rich environment, and it’s a phenomenally well-resourced environment,” said Matthew Granade, the chief market intelligence officer at Point72, Steve Cohen’s $13bn hedge fund.

For the people Mr Granade calls “data learning, quant types”, the harder the problem, the better. “The benefit for us is that the markets are one of the hardest problems in the world. You think you’ve found a solution and then everyone else catches up. The markets are always adapting. So you are constantly being presented with new challenges, and the problem is constantly getting harder.”
hedge_funds  recruiting  uWaterloo  war_for_talent  millennials  finance  perks  quantitative  hard_questions  new_graduates  data_scientists 
august 2018 by jerryking
Diversity means looking for the knife in a drawerful of spoons
SEPTEMBER 8, 2017 | Financial Times | Tim Harford.

Recruiters and admissions tutors are hoping they made the right choices.

So how do we select the best people for a course or a job? It seems like a sensible question, yet it contains a trap. In selecting the best person we might set a test — in a restaurant kitchen we might ask them to whip up some meals; in a software company we might set some coding problems. And then the trap is sprung.

By setting the same task for every applicant we recruit people who are carbon copies of each other. They will have the same skills and think in the same way. Allowing recruiters some subjective discretion might loosen this trap a little, but it might equally make it worse: we all tend to see merit in applicants who look, speak, and dress much like we do. Opposites do not attract, especially when it comes to corporate hiring.

This is unfair, of course. But it is also — for many but not all tasks — very unwise. Scott Page, a complexity scientist and author of The Diversity Bonus, invites us to think of people as possessing a kind of cognitive toolbox. The tools might be anything from fluent Mandarin to knowing how to dress a turkey to a command of Excel keyboard shortcuts. If the range of skills — the size of the toolkit — matters, then a diverse team will boast more cognitive skills than a homogenous team, even one full of top performers.
admissions  diversity  heterogeneity  hiring  homogeneity  recruiting  selection_processes  teams  Tim_Harford 
november 2017 by jerryking
Keeping America's Edge
Winter 2010 | National Affairs | Jim Manzi.

.....One of the most painful things about markets is that they often make fools of our fathers: Sharp operators with an eye for trends often outperform those who carefully learn a trade and continue a tradition. ...First, To begin with, we must unwind some recent errors that fail to take account of these circumstances. Most obviously, government ownership of industrial assets is almost a guarantee that the painful decisions required for international competitiveness will not be made. When it comes to the auto industry, for instance, we need to take the loss and move on. As soon as possible, the government should announce a structured program to sell off the equity it holds in GM. ....Second, the financial crisis has demonstrated obvious systemic problems of poor regulation and under-regulation of some aspects of the financial sector that must be addressed — though for at least a decade prior to the crisis, over-regulation, lawsuits, and aggressive government prosecution seriously damaged the competitiveness of other parts of America's financial system ........Regulation to avoid systemic risk must therefore proceed from a clear understanding of its causes. In the recent crisis, the reason the government has been forced to prop up financial institutions isn't that they are too big to fail, but rather that they are too interconnected to fail......we should therefore adopt a modernized version of a New Deal-era ­innovation: focus on creating walls that contain busts, rather than on applying brakes that hold back the entire system.....Third, over the coming decades, we should seek to deregulate public schools. .....We should pursue the creation of a real marketplace among ever more deregulated publicly financed schools — a market in which funding follows students, and far broader discretion is permitted to those who actually teach and manage in our schools. There are real-world examples of such systems that work well today — both Sweden and the Netherlands, for instance, have implemented this kind of plan at the national level......Fourth, we should reconceptualize immigration as recruiting. Assimilating immigrants is a demonstrated core capability of America's political economy — and it is one we should take advantage of. ....think of immigration as an opportunity to improve our stock of human capital. Once we have re-established control of our southern border, and as we preserve our commitment to political asylum, we should also set up recruiting offices looking for the best possible talent everywhere: from Mexico City to Beijing to Helsinki to Calcutta. Australia and Canada have demonstrated the practicality of skills-based immigration policies for many years. We should improve upon their example by using testing and other methods to apply a basic tenet of all human capital-intensive organizations managing for the long term: Always pick talent over skill. It would be great for America as a whole to have, say, 500,000 smart, motivated people move here each year with the intention of becoming citizens.
social_cohesion  innovation  human_capital  Jim_Manzi  immigration  recruiting  interconnections  too_big_to_fail  economic_downturn  innovation_policies  outperformance  capitalization  human_potential  financial_system  regulation  under-regulation  too_interconnected_to_fail  systemic_risks  talent  skills 
august 2017 by jerryking
The résumé is dead: your next click might determine your next job | Guardian Sustainable Business
16 February 2017 | | The Guardian| Tim Dunlop.

The traditional CV and interview are being abandoned as firms use new forms of data aggregation to find employees. This new field of recruitment, dubbed workforce science, is based on the idea that the data individuals create while doing things online can be harvested and interpreted and to provide a better idea of a person’s suitability than traditional methods.

Whereas in the past employers might have been impressed with the school you went to, practitioners of workforce science are encouraging them to prioritise other criteria. A New York Times article on the topic noted: “Today, every email, instant message, phone call, line of written code and mouse-click leaves a digital signal. These patterns can now be inexpensively collected and mined for insights into how people work and communicate, potentially opening doors to more efficiency and innovation within companies.”

Organisations including Knack and TalentBin are providing companies with information that, they claim, better matches people to jobs. Peter Kazanjy, the chief executive of TalentBin, explained to Business Insider Magazine: “Résumés are actually curious constructs now because, for the most part, work and our work product is fundamentally digital. Sometimes you don’t even need [résumés]. The reality of what somebody is and what they do … is already resident on their hard drive or their Evernote or their box.net account or their Dropbox cloud.”
digitalization  exhaust_data  job_search  Knack  LinkedIn  Managing_Your_Career  recruiting  résumés  TalentBin  workforce_science 
february 2017 by jerryking
How Stanford Took On the Giants of Economics - The New York Times
SEPT. 10, 2015 | NYT | By NEIL IRWIN.

Stanford’s success with economists is part of a larger campaign to stake a claim as the country’s top university. Its draw combines a status as the nation’s “it” university — now with the lowest undergraduate acceptance rate and a narrow No. 2 behind Harvard for the biggest fund-raising haul — with its proximity to many of the world’s most dynamic companies. Its battle with Eastern universities echoes fights in other industries in which established companies, whether hotels or automobile makers, are being challenged by Silicon Valley money and entrepreneurship....reflection of a broader shift in the study of economics, in which the most cutting-edge work increasingly relies less on a big-brained individual scholar developing mathematical theories, and more on the ability to crunch extensive sets of data to glean insights about topics as varied as how incomes differ across society and how industries organize themselves....The specialties of the new recruits vary, but they are all examples of how the momentum in economics has shifted away from theoretical modeling and toward “empirical microeconomics,” the analysis of how things work in the real world, often arranging complex experiments or exploiting large sets of data. That kind of work requires lots of research assistants, work across disciplines including fields like sociology and computer science, and the use of advanced computational techniques unavailable a generation ago....Less clear is whether the agglomeration of economic stars at Stanford will ever amount to the kind of coherent school of thought that has been achieved at some other great universities (e.g. Milton Friedman's The Chicago School neoclassical focus on efficiency of markets and the risks of government intervention and M.I.T.’s economics' Keynesian tradition)
economics  economists  empiricism  in_the_real_world  Stanford  MIT  Harvard  Colleges_&_Universities  recruiting  poaching  movingonup  rankings  machine_learning  cross-disciplinary  massive_data_sets  data  uChicago  microeconomics  Keynesian  Chicago_School 
september 2015 by jerryking
Private Equity Firms Get Drastic to Improve Diversity - Private Equity Beat - WSJ
Jul 20, 2015 EUROPE
Private Equity Firms Get Drastic to Improve Diversity
ARTICLE
COMMENTS (2)
ALLEN & OVERY
ALTIUS ASSOCIATES
EXPONENT PRIVATE EQUITY
HEPHZI NICOL
PRIVATE EQUITY RECRUITMENT
SOVEREIGN CAPITAL
STEPSTONE GROUP
11 55
By BECKY PRITCHARD
private_equity  recruiting  women  diversity 
july 2015 by jerryking
Recruiting has changed – and so should you - The Globe and Mail
LEAH EICHLER
Special to The Globe and Mail
Published Friday, Jan. 23 2015

how then, should job seekers manage their social media presence?

The two recommend a tasteful profile that clearly communicates a candidate’s history. A judiciously worded profile, they say, is more likely to get a stamp of approval from recruiters than one than one that goes overboard in listing professional feats and accomplishments.

Once a recruiter can check off the required skills and experience for a job description, that’s when questions of personality and relationship with the hiring organization come into play. It is this crucial attention to the soft skills that differentiates some executive search firms from those merely engaged in their own online search.
Leah_Eichler  recruiting  LinkedIn  executive_search  personal_branding  JCK  Managing_Your_Career 
january 2015 by jerryking
Why I Do All My Recruiting Through LinkedIn - NYTimes.com
AUGUST 19, 2014 | NYT |By REBEKAH CAMPBELL.

How, in a sea of people, can I find my ideal candidate?

In the past, I would have posted job ads on all the appropriate websites and braced for a flood of applications....the problem was that the best candidates all had good positions and were not reading job advertisements. Somehow, I had to find these people and convince them to take a risk by joining our start-up. The only solution seemed to be to hire a recruiter and, as a cash-strapped small business, we just couldn’t afford to shell out a recruitment fee of 20 percent of the candidate’s annual salary....sign up to LinkedIn’s Recruiter service. For $2,200 per quarter, I can run detailed searches on exactly the type of candidates I’m looking for and then approach them en masse.
LinkedIn  recruiting  talent_management  talent  cash-strapped  howto  small_business  running_a_business 
august 2014 by jerryking
Forget the CV, data decide careers - FT.com
July 9, 2014 | FT |By Tim Smedley.

The human touch of job interviews is under threat from technology, writes Tim Smedley, but can new techniques be applied to top-level recruitment?

I no longer look at somebody's CV to determine if we will interview them or not," declares Teri Morse, who oversees the recruitment of 30,000 people each year at Xerox Services. Instead, her team analyses personal data to determine the fate of job candidates.

She is not alone. "Big data" and complex algorithms are increasingly taking decisions out of the hands of individual interviewers - a trend that has far-reaching consequences for job seekers and recruiters alike.

The company whose name has become a synonym for photocopy has turned into one that helps others outsource everyday business processes, from accounting to human resources. It recently teamed up with Evolv, which uses data sets of past behaviour to predict everything from salesmanship to loyalty.

For Xerox this means putting prospective candidates for the company's 55,000 call-centre positions through a screening test that covers a wide range of questions. Evolv then lays separate data it has mined on what causes employees to leave their call-centre jobs over the candidates' responses to predict which of them will stick around and which will further exacerbate the already high churn rate call centres tend to suffer.

The results are surprising. Some are quirky: employees who are members of one or two social networks were found to stay in their job for longer than those who belonged to four or more social networks (Xerox recruitment drives at gaming conventions were subsequently cancelled). Some findings, however, were much more fundamental: prior work experience in a similar role was not found to be a predictor of success.

"It actually opens up doors for people who would never have gotten to interview based on their CV," says Ms Morse. Some managers initially questioned why new recruits were appearing without any prior relevant experience. As time went on, attrition rates in some call centres fell by 20 per cent and managers no longer quibbled. "I don't know why this works," admits Ms Morse, "I just know it works."

Organisations have long held large amounts of data. From financial accounts to staff time sheets, the movement from paper to computer made it easier to understand and analyse. As computing power increased exponentially, so did data storage. The floppy disk of the 1990s could store barely more than one megabyte of data; today a 16 gigabyte USB flash drive costs less than a fiver ($8).

It is simple, then, to see how recruiters arrive at a point where crunching data could replace the human touch of job interviews. Research by NewVantage Partners, the technology consultants, found that 85 per cent of Fortune 1000 executives in 2013 had a big data initiative planned or in progress, with almost half using big data operationally.

HR services provider Ceridian is one of many companies hoping to tap into the potential of big data for employers. "From an HR and recruitment perspective, big data enables you to analyse volumes of data that in the past were hard to access and understand," explains David Woodward, chief product and innovation officer at Ceridian UK.

This includes "applying the data you hold about your employees and how they've performed, to see the causal links between the characteristics of the hire that you took in versus those that stayed with you and became successful employees. Drawing those links can better inform your decisions in the hiring process."

Data sets need not rely on internal data, however. The greatest source of big data is the internet, which is easy for both FTSE 100 and smaller companies to access.

"Social media data now gives us the ability to 'listen' to the business," says Zahir Ladhani, vice-president at IBM Smarter Workforce. "You can look at what customers are saying about your business, what employees are saying, and what you yourself are saying - cull all that data together and you can understand the impact.

"Most recruitment organisations now use social media and job-site data," says Mr Ladhani. "We looked at an organisation which had very specialised, very hard to find skill sets. When we analysed the data of the top performers in that job family, we found out that they all hung out at a very unique, niche social media site. Once we tapped into that database, boom!"

Ceridian, too, has worked with companies to "effectively scan the internet to see what jobs are being posted through the various job boards, in what parts of the country," says Mr Woodward. "If you're looking to open a particular facility in a part of the country, for example, you'll be able to see whether there's already a high demand for particular types of skills."

Experts appear split on whether the specialisation required for executive recruitment lends itself to big data.

"I hire 30,000 call-centre people on an annual basis - we don't hire that many executives," says Ms Morse, adding "there's not enough volume". However Mr Ladhani disagrees, believing that over time the data set an organisation holds on senior management hires would become statistically valid.

As more companies start to analyse their employee data to make hiring decisions, could recruitment finally become more of a science than an art?

"The potential is clearly much greater now than ever before to crunch very large volumes of data and draw conclusions from that which can make better decisions," says Mr Woodward. "The methods and computing power being used in weather forecasting 10 years ago are now available to us all . . . who knows where this may go."

It is a trend worth considering - to get your next job, perfecting your CV could well be less important than having carefully considered the footprint you leave in cyberspace.

Case study Demographic drilling-down helps LV=recast recruitment ads

Kevin Hough, head of recruiting at insurance firm LV=, was a pioneer of big data before he had heard the term.

A year ago, the question of where best to target the firm's recruitment advertising provided an innovative answer. LV= looked up the postcodes at which its current staff lived and organised the findings by the employee's level of seniority, explains Mr Hough. "Using software called Geo-Maps, which works similarly to Google Maps, we could zoom in and out of clusters of our people to see where they are willing to travel from to get to work."

Next, the insurer looked at the locations from which candidates were applying and compared those with the postcodes of current staff. It also looked at the locations and interests of its followers on social media sites, such as Facebook and LinkedIn. The analysis included their interests, stated sexual orientation, ethnicity and gender.

This allowed the firm to create a profile of its typical, successful candidate, also taking into consideration their age and location.

"What was really interesting was the reach some of our advertising was having and, more importantly, some of the gaps," Mr Hough says.

The analysis, which took little investment or expertise, has allowed LV= to redesign its recruitment advertising.

"Sometimes, with all the clever systems that people have in organisations, you can be blinded to the simple, raw data that is there," says Mr Hough.

Next, LV= will add performance review data, taking the analysis to a higher level. He explains that this piece of work will ask who of the group recruited a year before is still there.

"It will help shape not only how we attract people, but will even start to shape some of the roles themselves," he says.

Tim Smedley

By Tim Smedley
analytics  call_centres  Ceridian  data  data_driven  data_storage  Evolv  executive_management  FTSE_100  hard_to_find  hiring  internal_data  job_boards  Managing_Your_Career  massive_data_sets  personal_data  predictive_analytics  recruiting  résumés  small_business  social_media  unstructured_data  Xerox 
july 2014 by jerryking
Getting Started in ‘Big Data’ - The CFO Report - WSJ
February 4, 2014 | WSJ |by JAMES WILLHITE.

executives and recruiters, who compete for talent in the nascent specialty, point to hiring strategies that can get a big-data operation off the ground. They say they look for specific industry experience, poach from data-rich rivals, rely on interview questions that screen out weaker candidates and recommend starting with small projects.

David Ginsberg, chief data scientist at business-software maker SAP AG , said communication skills are critically important in the field, and that a key player on his big-data team is a “guy who can translate Ph.D. to English. Those are the hardest people to find.”

Along with the ability to explain their findings, data scientists need to have a proven record of being able to pluck useful information from data that often lack an obvious structure and may even come from a dubious source. This expertise doesn’t always cut across industry lines. A scientist with a keen knowledge of the entertainment industry, for example, won’t necessarily be able to transfer his skills to the fast-food market.

Some candidates can make the leap. Wolters Kluwer NV, a Netherlands-based information-services provider, has had some success in filling big-data jobs by recruiting from other, data-rich industries, such as financial services. “We have found tremendous success with going to alternative sources and looking at different businesses and saying, ‘What can you bring into our business?’ ” said Kevin Entricken, the company’s chief financial officer.
massive_data_sets  analytics  data_scientists  cross-industry  recruiting  howto  poaching  plain_English  connecting_the_dots  storytelling  SAP  Wolters_Kluwer  expertise  Communicating_&_Connecting  unstructured_data  war_for_talent  talent  PhDs  executive_search  artificial_intelligence  nontraditional 
june 2014 by jerryking
Do Things that Don't Scale
July 2013 | Paul Graham

The question to ask about an early stage startup is not "is this company taking over the world?" but "how big could this company get if the founders did the right things?" And the right things often seem both laborious and inconsequential at the time.
advice  start_ups  Y_Combinator  Paul_Graham  scaling  recruiting  experience  management_consulting  barriers_to_entry  product_launches  partnerships  customer_acquisition  user_growth  Steve_Jobs  unscalability  founders  questions 
november 2013 by jerryking
To hire without using ads or recruiters - genius or folly? - The Globe and Mail
Aug. 28 2013 | The Globe and Mail | SUSAN SMITH.

That’s the challenge faced by Wojciech Gryc, 27, who started Canopy Labs a year and a half ago in Toronto. The company makes software for businesses that want to track their customers’ preferences using data analytics....The product compiles information from e-mail, e-commerce sites, social media, voice mail and call centres to help predict how likely people are to remain customers, how much they are likely to spend and which marketing messages they are likely to respond to.
hiring  Toronto  start_ups  predictive_analytics  data_scientists  recruiting  DIY  fallacies_follies 
october 2013 by jerryking
Why Your Startup Can’t Find Developers ⚙ Co.Labs ⚙ code + community
2013-09-26

Co.Labs
Why Your Startup Can’t Find Developers

Matt Mickiewicz runs a developer recruitment site called Hired. He sees startups making these same mistakes over and over.
By: Ciara Byrne
hiring  recruiting  management  start_ups  software_development 
september 2013 by jerryking
Professional firms: Simply the best
Apr 13th 2013 | The Economist |

What It Takes: Seven Secrets of Success from the World’s Greatest Professional Firms. By Charles Ellis. Wiley; 290 pages; $40 and £26.99.

During a long career advising senior professionals, Mr Ellis found that a handful of firms were almost universally regarded by their peers as the best in their particular business. As well as McKinsey (management consulting) and Goldman (investment banking), they included Capital Group (investment management), the Mayo Clinic (health care) and Cravath, Swaine & Moore (law). He was surprised to discover that each of the firms had several things in common. These include leaders who devote their lives to serving their firm rather than enriching themselves (though that tended to follow naturally), a good sense of what motivates staff to get up early and work late and the ability to get individualistic professionals to function unusually well in teams.

Above all, these firms are fanatical about recruiting new employees who are not just the most talented but also the best suited to a particular corporate culture. These firms’ bosses spend a disproportionate amount of time on the recruitment process, often putting it before other more immediately lucrative demands on their time. McKinsey interviews 200,000 people each year, but selects just over 1%.

Each McKinsey applicant can be interviewed eight times before being offered a job; at Goldman, twice that is not unheard of. At Capital a serious candidate is likely to be seen by 20 people, some more than once. Recruitment, these firms believe, is the start of a lifelong relationship. At the same time, Goldman and McKinsey also have a policy of helping their staff to find suitable work elsewhere, all in the expectation that they will eventually become loyal customers.
professional_service_firms  book_reviews  lifelong  relationships  recruiting  talent_management  outplacement  McKinsey  Goldman_Sachs  overachievers  disproportionality  organizational_culture  serving_others  high-achieving 
april 2013 by jerryking
The New Résumé: It's 140 Characters - WSJ.com
April 9, 2013 | WSJ |By RACHEL EMMA SILVERMAN and LAUREN WEBER.

The New Résumé: It's 140 Characters
Some Recruiters, Job Seekers Turn to Twitter, but Format Is a Challenge; Six-Second Video Goes Viral
résumés  Twitter  recruiting 
april 2013 by jerryking
Baby Sitting for Start-Ups - WSJ.com
March 13, 2006 |WSJ |By REBECCA BUCKMAN.

Managing
Baby Sitting for Start-Ups
Departing From Past Practice, Venture Capitalists Monitor And Mentor Their Fledglings

" hiring the wrong top executive can cost a start-up more than $2 million, according to some research. "That gets CEOs' attention," "
start_ups  Silicon_Valley  venture_capital  vc  recruiting  hiring 
february 2013 by jerryking
Working Well With Executive Recruiters - WSJ.com
May 4, 2008 | WSJ | By SARAH E. NEEDLEMAN.

Be Sure
Be Specific
Provide references
Ask smart questions
Explain rejections
Stay involved
Suggest moving on
Sarah_E._Needleman  recruiting  executive_management  executive_search  Korn_Ferry 
february 2013 by jerryking
Cravath Hires David Kappos of U.S. Patent Office - NYTimes.com
February 6, 2013 | NYT | Peter Lattman
Cravath Hires 2nd Official From Obama Administration
By PETER LATTMAN
legal_strategies  recruiting  USPTO  law_firms  patent_law  IBM  Cravath 
february 2013 by jerryking
Talent Shortage Looms Over Big Data - WSJ.com
April 29, 2012 | WSJ | By BEN ROONEY

Big Data's Big Problem: Little Talent

"A significant constraint on realizing value from Big Data will be a shortage of talent, particularly of people with deep expertise in statistics and machine learning, and the managers and analysts who know how to operate companies by using insights from Big Data," the report said. "We project a need for 1.5 million additional managers and analysts in the United States who can ask the right questions and consume the results of the analysis of Big Data effectively." What the industry needs is a new type of person: the data scientist.....Hilary Mason, chief scientist for the URL shortening service bit.ly, says a data scientist must have three key skills. "They can take a data set and model it mathematically and understand the math required to build those models; they can actually do that, which means they have the engineering skills…and finally they are someone who can find insights and tell stories from their data. That means asking the right questions, and that is usually the hardest piece."

It is this ability to turn data into information into action that presents the most challenges. It requires a deep understanding of the business to know the questions to ask. The problem that a lot of companies face is that they don't know what they don't know, as former U.S. Defense Secretary Donald Rumsfeld would say. The job of the data scientist isn't simply to uncover lost nuggets, but discover new ones and more importantly, turn them into actions. Providing ever-larger screeds of information doesn't help anyone.

One of the earliest tests for biggish data was applying it to the battlefield. The Pentagon ran a number of field exercises of its Force XXI—a device that allows commanders to track forces on the battlefield—around the turn of the century. The hope was that giving generals "exquisite situational awareness" (i.e. knowing everything about everyone on the battlefield) would turn the art of warfare into a science. What they found was that just giving bad generals more information didn't make them good generals; they were still bad generals, just better informed.

"People have been doing data mining for years, but that was on the premise that the data was quite well behaved and lived in big relational databases," said Mr. Shadbolt. "How do you deal with data sets that might be very ragged, unreliable, with missing data?"

In the meantime, companies will have to be largely self-taught, said Nick Halstead, CEO of DataSift, one of the U.K. start-ups actually doing Big Data. When recruiting, he said that the ability to ask questions about the data is the key, not mathematical prowess. "You have to be confident at the math, but one of our top people used to be an architect".
data_scientists  massive_data_sets  talent_management  talent  Pentagon  SecDef  limitations  shortages  McKinsey  war_for_talent  recruiting  Colleges_&_Universities  situational_awareness  questions  Donald_Rumsfeld  asking_the_right_questions 
june 2012 by jerryking
Canada must actively recruit the best and brightest immigrants - The Globe and Mail
Globe Editorial
Canada must actively recruit the best and brightest immigrants
From Saturday's Globe and Mail
Published Friday, May. 04, 2012

The world has changed, and when it comes to its immigration system, Canada is not changing fast enough to compete in it. It is no longer possible to sit back languidly, as the best and the brightest queue on its doorstep. The global market for human capital is voracious. There may always be migrants wanting to come to Canada, but they may not be the ones that Canada needs. People with options are less and less likely to tolerate hidebound and cumbersome immigration process, waiting as long as eight years to have their applications processed. If you are ambitious, if you are skilled, if you are entrepreneurial, if you are educated, if you are impatient for success, you will look elsewhere. Increasingly, elsewhere is looking better.
war_for_talent  editorials  recruiting  talent  immigrants  immigration  best_of  cream_skimming 
may 2012 by jerryking
Your Resume vs. Oblivion - WSJ.com
JANUARY 24, 2012| WSJ| By LAUREN WEBER

Inundated Companies Resort to Software to Sift Job Applications for Right Skills...To cut through the clutter, many large and midsize companies have turned to applicant-tracking systems to search résumés for the right skills and experience. The systems, which can cost from $5,000 to millions of dollars, are efficient, but not foolproof.

Ed Struzik, an International Business Machines Corp. expert on the systems, puts the proportion of large companies using them in the "high 90%" range, and says it would "be very rare to find a Fortune 500 company without one."

At many large companies the tracking systems screen out about half of all résumés, says John Sullivan, a management professor at San Francisco State University.
onboarding  applicant-tracking_systems  résumés  hiring  Fortune_500  online_recruiting  job_boards  recruiting  job_search 
january 2012 by jerryking
Boomerang Employees - WSJ.com
OCTOBER 24, 2011 | | By MELISSA KORN

Boomerang Employees
More Companies Tap Into Alumni Networks to Re-Recruit Best of Former Workers
corporate  alumni  networks  recruiting  Melissa_Korn 
october 2011 by jerryking
The secret to controlled chaos - FT.com
June 20, 2011 By Tim Bradshaw . Stratospheric growth can
prove problematic... Your site may go down all the time.”... As
broadband access spreads and smartphones become mainstream in developed
markets, new technology companies are being built in months, not years,
acquiring millions of users with apparent ease...For small companies
thrust un­expectedly into the limelight, coping with such growth rates,
while maintaining the innovation and culture that brought them their
success, can be a significant challenge..Although internal culture is
important, companies must not become too inward-looking as they try to
manage growth and should be vigilant of the impact that the changes to
their business is having on customers. “The key element is to eliminate
surprises,” , “Growth is great but it must be measured. In fast times,
it’s metrics, metrics, metrics. You must measure where traffic comes
from, what the customers are doing...with that you can then focus on
serving your best customers.”
growth  start_ups  chaos  hiring  recruiting  growth_hacking  metrics  inward-looking  mojo  measurements  organizational_culture  scaling  accelerated_lifecycles  surprises  small_business  gazelles  high-growth 
june 2011 by jerryking
Older workers feel the heat
Sep. 30, 2010 | The Globe & Mail | Diane Jermyn
CSIS  recruiting  security_&_intelligence 
october 2010 by jerryking
The tricks to recruiting top talent
Oct. 04, 2010 | The Globe & Mail | VIRGINIA GALT. Top
desires of a job seeker. Money: “Most of us who deal with this have a
rule of thumb that you have to give at least a 10% increase to move
anybody,” says Toronto lawyer Stewart Saxe. An equity stake: “The real
upside is in the equity participation if you are at a senior enough
level,” said recruiter Tom Long. “What they are looking for is the
opportunity to participate … and have a home run.” Work-life balance:
“Three weeks of vacation is now pretty standard. In addition, some shops
close between Christmas and New Years, and a lot of firms are also
giving five personal days as floaters,” said Katie Dolgin .
“Flexibility, being able to work from home occasionally if they have a
sick child, is important.” A safety net: This is particularly important
for executives who leave big jobs for smaller, younger enterprises,
recruiters say. Many candidates will insist on severance clauses to
protect themselves if things go south.
talent  recruiting  Virginia_Galt  Google  LinkedIn  Pablo_Picasso  ksfs  small_business  executive_management  executive_search  safety_nets  inducements  work_life_balance  equity  flexibility 
october 2010 by jerryking
How to Hire a VP of Sales
September 21, 2010 | Harvard Business Review | by Steve
W. Martin. Give to Noel for pitching M.O. on his services. This article
specifically references the impact that a sales leader can have on a
start-up like Brand Celebration. For a small business in build mode,
Monster.ca & Workopolis can't necessarily provide Brand Celebration
with the calibre of thought leadership on display here when it comes to
hiring a sales lead.. ... The VP of Sales is one of the most important
people within a company because this person is in charge of an
organization's most critical assets: customers and the revenue they
generate.
howto  HBR  hiring  recruiting  executive_management  talent_management  sales 
september 2010 by jerryking
For Entrepreneurs, Sharing Isn't Always Fun - WSJ.com
APRIL 13, 2010 | Wall Street Journal | By SARAH E. NEEDLEMAN.
For Entrepreneurs, Sharing Isn't Always Fun Equity in Lieu of Pay Can
Help Business Owners Lure Talent, but Many May Not Want to Part With
Future Profits.
Offering equity can be an especially useful tool in a downturn. Business
owners should be able to more easily offset a below-market salary with
equity-based pay when unemployment is high, theorizes Andrew Zacharakis,
professor of entrepreneurship at Babson College in Wellesley, Mass. "A
lot of people are trying to get something on their résumé, even though
it may not pay as much as what they earn in a good economic climate," he
says.

Equity can also sweeten a job offer for candidates who are always in
high demand because they possess unique skills or knowledge.
Sarah_E._Needleman  start_ups  small_business  equity  compensation  recruiting 
april 2010 by jerryking
globeadvisor.com: The motivational paradox of big bonuses
Friday, September 11, 2009 | The Glober & Mai l| SUSAN
PINKER. Susan Pinker is a psychologist and author of The Sexual
Paradox: Extreme Men, Gifted Women and the Real Gender Gap. Her blog,
The Business Brain, can be found at
http://susanpinkerbusinessbrain.blogspot.com
Susan_Pinker  bonuses  motivations  recruiting  hiring 
april 2010 by jerryking
Dear Graduate...
JUNE 19, 2006 | Business Week | By Jack and Suzy Welch. (1) As
an ambitious 22-year-old readying to enter the corporate world, how can I
quickly distinguish myself as a winner? -- Dain Zaitz, Corvallis, Ore.

One gets ahead by over-delivering. Start thinking big. Go beyond being the grunt assigned. Do the extra legwork and data-crunching to give [clients] something that really expands their thinking—an analysis, for instance, of how an entire industry might play out over the next three years. What new companies and products might emerge? What technologies could change the game? Could someone, perhaps the client's own company, move production to China?

(2) Revenue growth is at the top of my to-do list. What should I look
for in hiring great sales professionals? -- John Cioffi, Westfield, N.J.
questions  hiring  recruiting  Managing_Your_Career  advice  Jack_Welch  strategic_thinking  anticipating  new_graduates  chutzpah  movingonup  overdeliver  Pablo_Picasso  individual_initiative  generating_strategic_options  independent_viewpoints  thinking_big  game_changers 
november 2009 by jerryking
Corporate universities for small companies
Feb 1999 | Inc. Vol. 21, Iss. 2; pg. 95, 2 pgs | by Donna
Fenn. An increasing number of growing businesses are starting their own
universities - ongoing skill-enhancement programs that draw on both
internal and external resources to train new employees and keep veteran
ones current with a rapidly changing business environment. Companies are
now thinking of training as a strategic imperative. Employees are
keenly aware that training is essential to their future marketability
and are making career choices based on opportunities for learning.
Companies with in-house universities report several benefits, including:
1. improved recruitment, 2. increased revenues, 3. reduced turnover, 4.
better employee advancement, and 5. a wider talent pool.
employment_training  corporate_universities  small_business  Freshbooks  recruiting  hiring  size  rapid_change  talent_pools 
october 2009 by jerryking
Hiring Decisions Miss the Mark 50% of the Time
Oct 2, 2008 | Business Wire | by Anonymous. Organizations or
their new hires regret their hiring decisions 50% of the time, costing
the average organization millions in the way of lower performance, less
engaged new hires, and higher turnover. 40% of new hires report the
information they received about the job when they were applying was less
than accurate. Overall, only half the time will organizations and new
hires achieve a win-win outcome where both agree that they made the
right decision.
hiring  recruiting  decision_making  executive_management  candidates  Freshbooks  onboarding  regrets 
september 2009 by jerryking
Corner Office - To the C.E.O. of Teach for America, Charisma Is Overrated - Question - NYTimes.com
July 4, 2009 | New York Times | Interview with Wendy Kopp,
founder and chief executive of Teach for America, conducted and
condensed by Adam Bryant. "For three years, every single payroll was a
huge question. But ultimately that near-death experience led us to see
the power of really clear, measurable goals."
leadership  managing_people  teachers  failure  metrics  overrated  goal-setting  CEOs  charisma  Teach_for_America  hiring  recruiting  measurements 
july 2009 by jerryking
Crafting a resume that will grab recruiters -
March 29, 2009 | Los Angeles Times | By Tiffany Hsu
résumés  recruiting 
may 2009 by jerryking
The Naive Approach to Hiring People
Monday, February 11, 2008 | Raganald | Reg Braithwaite
hiring  recruiting  algorithms  ideas  Joel_Spolsky  interviews  howto  naivete 
may 2009 by jerryking
reportonbusiness.com: Hiring smart: It's who, not what, that matters
April 1, 2009 |The Globe and Mail | by HARVEY SCHACHTER

" WHO" By Geoff Smart and Randy Street, Ballantine, 188 pages, $28
recruiting  hiring  interviews  book_reviews  Geoff_Smart 
april 2009 by jerryking
The Secrets of the Talent Scouts - NYTimes.com
March 14, 2009 | NYT | By GEORGE ANDERS dedicated to the early
end of the talent management process: spotting/scouting and recruiting.
Lessons learned: take chances on passionate people early in their work
lives, focus on what can go right, offer rewards no one else can match
and harness the lessons of your own career.
talent_management  lessons_learned  recruiting  talent_acquisition  spotting  scouting  hiring  Michael_Moritz  George_Anders  talent_scouting 
march 2009 by jerryking
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