"AI, however, is forcing the firm to rethinkthe types of applicants it considers in the hiring process, CEO Bob Sternfels said. On Harvard Business Review's IdeaCast podcast this week, Sternfels said the firm used AI to analyze its past 20 years of hiring data to understand where it may have overlooked talent for its coveted class of partners. The firmfound that applicants who had setbacks and recovered were more likely to become partners."
""It turned out we had some bias in our system," he said, adding that the firm was too focused on whether candidates had "perfect marks" instead of how they bounced back from difficulties. In December, the firm promoted about 200 employees to partner - one of the smallest classes in years, The Wall Street Journal reported. In 2022, it promoted about 400 people to partner."
McKinsey applied AI to two decades of hiring data and identified resilience after setbacks as a strong predictor of future partners. The firm historically recruited top-school graduates and industry experts, receives about one million applications annually, and hires roughly 1% of applicants. Leadership found a bias toward candidates with perfect marks and shifted interviewing to assess how candidates recover from difficulties. McKinsey uses a game-based problem-solving assessment called Solve and seeks distinctive early-career students and seasoned industry specialists. Recent partner promotions numbered about 200 in December, down from roughly 400 in 2022.
Read at Business Insider
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