Dive Brief:
- Goldman Sachs, the major investment bank, is trying to change its stripes and attract younger workers by morphing into a "technology company," according to CNBC.
- For example, the company tells anyone who will listen that engineers make up one-third of its workforce. The firm is using technology to drive many of its main processes, including the search for millennial college talent, CNBC reports.
- Over two years, Goldman has turned to digital platforms in addition to the more traditional talent sourcing options such as campus recruiting, alumni networks and standard single-person resume review. As a result, says CNBC, Goldman reaches a "wider pool of colleges" and subsequently, the right students – with the added goal of boosting diversity among new hires.
Dive Insight:
"What we are doing in recruiting is evolutionary, not revolutionary," Edith Cooper, executive vice president and global head of human capital management at Goldman Sachs, told CNBC. Goldman has turned to tech applications that search submitted resumes by keywords, achievements and experiences aligning with the characteristics of successful Goldman hires.
The company is also using digital tools such as YouTube (one video stars CEO Lloyd Blankfein), Google Hangouts, a mobile careers app and even Snapchat advertising.
CNBC's article says that Goldman targets mainly community leaders, entrepreneurs and technologists within the millennial demographic graduating from college. They also use a combination of Skype and face-to-face interviews to ensure applicants are a right fit for the job.
"While tech can inform our search, this is also a people business," Cooper said. "Tech cannot replace the human dialogue."
