... 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"!
Another questionable (charitably) analogy. A hiring process for the best and brightest, who are A tiers with golden tickets at an elite, for profit consulting firm compares well to a C tier member in NC that wants a car loan. As McKinsey if they had to interview over 350, 000 applicants a year if they’d have the same process.
ReplyDelete10:00 am Can state with 100% assurance that this commenter does not work for McK... and need not waste time applying.
ReplyDeleteFails the holistic test immediately by being unable to fathom the bigger picture - "it is a better way".
Flunks the "entrepreneurial spirit" requirement by being unable to figure out how to process 350k apps in a "better way ". Seems lost if "industry standard" thinking is not the norm - simply doesn't know what to do.
The "A-tier elite, C-tier NC member car loan" remarks place the commenter in the lowest F-tier range on the humility spectrum. For the record, for comparison purposes, both elite and C-tier are fellow human beings and should be treated with respect.
Our "only inside the box" thinker obviously -holistically - "can't see the forest for the trees".
Y'know there is something important missing in this line of thinking, something lacking ...
... and that something really matters.
our board combed over many applications for CEO and came up with GYM ........ did the pile get inverted by accident? .... you can't make this stuff up!
ReplyDeleteboard is bad news bears
Deletewasn't by accident but by intent .... which makes it worse ...
DeleteNo wise man ever thought that a traitor should be trusted.
DeleteMarcus Tullius Cicero