Don’t be put off using case studies by the amount of work needed to prepare them – there is an easy way. We have several clients putting together assessment centre timetables for final interview rounds with candidates. Most of these include a case study and this has become an increasingly common tool for analyst and associate recruitment. We would recommend it for the final few candidates and everyone we work with is in universal agreement that these are a great tool in identifying the person that they would like to hire.
The case studies are telling in that they are the closest you will get to simulating life in the office.
· You get a feel for how the candidate approaches problems – are they an organised thinker with a framework for reviewing large amounts of information or take a more casual approach
· Do they think about the practical, commercial issues surrounding the business under review or take a high level generalist view
· Can they quickly identify the issues critical to business success or do they miss the key points
· Have they got an understanding of the basic principles of private equity or do they talk to you like an adviser selling you a deal
They also allow you to hold a conversation which would be pretty much like the ones you would have in the office on a daily basis
· Can they support their opinions or do they change their minds with every bit of new information
· Do they listen to what you have to say or are they dogmatic in their own view
· Are they clear and concise or woolly and long-winded in their comments
· Are they good humoured, relaxed and easy to talk with or is the whole conversation a bit of a trial
By the end you’ll know who you want in your team.
And if you’ve been put off from using case studies because of the work involved in preparing them, then you’ll be pleased to hear of a new trend in case study material which conveniently reflects an evolution in the associate or analyst’s job and makes your life a lot easier in putting a case study together.
Gone are the days of removing all names or signing NDAs to protect anonymity. The new trend in case study material is to identify a business you know well – usually from your portfolio - and get the candidates to review the business from the material they can find on the internet. The questions you might ask might include their view on the company’s position in its market and what its future strategy might be. If you want them to value it then you may have to give them some extra financial information.
We have devised many case studies and can give you some good ideas on the material you might use and the questions you might ask to ensure that this is an effective tool in your hiring decision without being a drain on your time to produce and implement.
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