Dive Brief:
- Looking to expand its talent reach by modernizing its recruiting strategy, Goldman Sachs Group Inc. has replaced the first cut of on-campus, face-to-face college recruiting strategy for summer and full-time analysts with video interviews, according to Reuters.
- Starting in July, the Wall Street firm will look to source potential top talent who may not be from one of Goldman's traditional "target" colleges, primarily Ivy League institutions, Goldman executives told Reuters.
- Apart from broadening its talent reach, the change also happens to coincide with growing pressure to lower costs while still finding, attracting and retaining top talent, Reuters reports.
Dive Insight:
Edith Cooper, Goldman's global head of capital management and executive vice president, told reporters at a briefing that the firm is hoping to hire "not just the economics or business undergraduate," but maybe a "pure liberal arts or history major" that could be the next Lloyd Blankfein, Goldman's current CEO.
With video, as many employers are discovering, talent searches can extend beyond the reach of in-person interviews. And Cooper said sought-after workplace traits such as "integrity" and "judgment" are unlikely to be recognized on a resume. Goldman's hiring staff will use HireVue, a video interviewing platform, for the new strategy.
Even with video, college campus visits will continue and Goldman will conduct second-round interviews in person. And hiring for business school students and experienced professionals will also continue in person.
