Santander Bank Competition Helps to Screen Job Applicants in Brazil

Santander Banespa used Marketplace to help screen applicants for a position at the bank. To find the most qualified candidates, it had them compete in a one-week Venture Strategy simulation, in English. The best candidates will earn a position as a banker in the wholesale area of international banking. Santander is one of the largest banks in the world, headquartered in Spain. It is also a major player in the banking community in Brazil.

According to Claudio Manassero, President of TecTrain - a very well known educational consulting company and our partner in Brazil - Santander had gone through the normal process of reviewing resumes and conducting on-campus interviews with numerous candidates from Brazil’s best schools. The recruiting team had narrowed their selection down to 30 students. All looked very good, but the recruiting team was looking for a way to select the best of a very strong pool of candidates. They turned to Claudio and Marketplace.

In fact, what the bank executives asked of TecTrain was much more than to help them to select the right candidates. The executives had the following needs and objectives:

1. The competition for good students was very high. Each had many good companies from which to choose. Thus, the executives wanted to motivate the best students to seriously consider the bank as an attractive employer.
2. The selection process is practically the same in all companies (interviews and tests). The executives wanted to enhance their image by creating a novel and impressive addition to this process.
3. The candidates really did not know what they would be doing if they were chosen. The executives wanted to convey a clear idea about what the candidates' lives would be like at the bank if they were hired (organizational environment, culture, level of informality, working with executives, etc.).
4. Normally, the people doing the evaluation and selection of the candidates are not the same people with whom the candidates will work. As a result, the candidates do not have much interaction with the professionals who will be their bosses. This limited interaction can cause some frustration latter on due to the lack of understanding about the position or differences in expectations between the new employee and his/her boss. Simply put, the professionals wanted more time with the candidates.
5. Finally, the executives wished to improve the bank’s image in the labor market for young, talented, college graduates. They especially hopped to create a favorable opinion within the university community. They wanted even those who would not be hired to be impressed with the bank and the attractiveness of working there.

The challenges were large, but exactly the kind TecTrain likes to face. In this case, Marketplace was well suited for supporting the objectives of the executives.

Concisely, the solution created for the bank was based on the following:

1. The 30 final participants were taken into a laboratory environment at the bank;
2. They would use a virtual management simulation (Marketplace);
3. They would be allowed to demonstrate their skills and aptitudes in real world business situations;
4. They would obtain practical, experience with banking and business that approached the real world (Marketplace); and
5. They would interact with executives of the bank.

Claudio and his team prepared a unique competition for the bank. The 30 applicants were formed into 5 teams of 6 people each. The five teams competed in the Marketplace Venture Strategy simulation.

Claudio used a combination of onsite and distance delivery. The competition began on Saturday with an all-day event. On Monday, the teams competed at a distance. On Tuesday and Thursday evening, they prepared and presented a business plan during a venture capital fair. The next Saturday included the final quarters of play and a final wrap up exercise.

The concluding exercise was quite unique. Normally, the teams would prepare a Report to the Board of Directors. Claudio and the bank executives wanted to see how the candidates would work in a banking context. So, they divided each team in half and sent 3 members to review the banking needs of another firm. The three that remained received the “banking team” from another group and presented an analysis of their company and addressed questions about their financial strength and banking worthiness.

Following the bank visits, the three “bankers” joined their colleagues to prepare their final presentations. However, their final presentation consisted of an analysis of the firm the three bankers had visited. The team’s new job was to present its analysis to the bank’s new opportunities committee, including an assessment of the firm’s strengths, weaknesses, opportunities, and threats (SWOT) and an assessment of firm’s financial needs and risk, plus their recommendations to the bank. This part of the exercise was very realistic in terms of the normal activities of a wholesale bank officer.

Overall, bank executives have been delighted with the competition. They feel much more confident about their decisions regarding to whom to give job offers. Their confidence comes from the many opportunities they had to observe the candidates in a realistic business setting.

First, the executives could interact with the candidates during receptions, coffee breaks, and, most importantly, while the teams were analyzing their current situation and deciding on a course of action. They could also observe the teamwork and interpersonal skills of each candidate while they worked together. And, they could see how well each person could present and defend his/her ideas during team discussions and with venture capitalists and a bank loan committee. During the entire process, more than 10 different situations were created with suitable opportunities in which the candidates could show their skills to the executives. Finally, the executives could assess each candidate’s financial and business acumen based upon the candidate’s analyses, decision making, presentations and discussions, thus considerably reducing the risks of a wrong decision.

It is also worth noting that the students enjoyed the experience as well. They found it to be a much better venue to present themselves to a future employer. They had many opportunities to demonstrate their skills and aptitudes. They also enjoyed the competition itself. And, most importantly, they were impressed with the bank and its innovativeness. At the end of the day, they were even more eager to work for such a progressive organization.

Here are some testimonials spontaneously obtained:

Santander:

“We wish to thank again for the quality work which TecTrain has been offering us as well as for our partnership, which could certify the bank managers and, most of all the students great satisfaction.”
-- HR Manager

Candidates:

“The business game was very useful and up-to-date as a part of the selective process because the candidates could apply their knowledge from both the university and a training period, not to mention the fact of exposing this know-how to pressure and reduced time for performing the typical tasks of a professional life.”

“The most competent selection process in which I have ever taken part. Congratulations.”

“The Business Game was a very enterprising tool which made possible a different learning method and a more complete evaluation for managers and Human Resources team.”

If you have more stories of how Marketplace can be used as a screening tool for job applicants and promotions, let us know. We would like to include more of these in our newsletter.

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