... not familiar with them?
✅ Wikipedia: McKinsey & Company (informally "McK") is an American strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926, McKinsey is the oldest and largest of the management consultancies. The firm mainly focuses on the finances and operations of their clients.
McKinsey has a notoriously competitive hiring process and is widely seen as one of the most selective employers in the world. McKinsey recruits primarily from top business schools, who have demonstrated business acumen and analytical skills.
😎 As you might imagine, these guys are not "industry standard", nor are they seeking to be!
What brought McKinsey to mind was a recent WSJ article [12-10-24], discussing McK's evaluation and selection process for new partners in the firm - a "golden ticket" if you can earn it!
Senior partner Rodney Zemmel said this: "Our evaluation system is holistic, not algorithmic. Even as someone who loves algorithms, I can confidently say it is better this way. Holistic can sometimes result in debate and disappointment, but it means we are selecting people - real leaders, who "exemplify the value driven leadership, entrepreneurial spirit and client impact to which we aspire."
😎 So, what's the point? The "New/New" race-based, credit-scored lending at SECU is algorithm based, which - as the soaring delinquency and loan loss ratios so clearly show - has become an unreliable lending system, poorly executed. Guess that's acceptable; if sound lending and unjustly hurting so many members is no longer part of a "value driven leadership" to which SECU aspires.
What does a holistic approach to hiring at McK capture that an algorithm can't? Well, things like humility, integrity and character. Same applies to the weakness in algorithmic lending at SECU - it lacks character!
Character still matters in hiring, lending and life. It is "the Difference"....
No need to point out is there, that McK did not work on the SECU "Strategic Plan"!