Goldman Sachs Implements Millennial-Friendly Interview Process

Goldman Sachs Group Inc (NYSE: GS) is switching up its interview process by implementing Millennial-friendly methods.

The company now requires candidates to send a pre-recorded video through the video-platform "HireVue."

The move signifies a dedication to forward-thinking in the finance industry, especially for a landmark company like Goldman Sachs.

In an interview with Yahoo! Inc. (NASDAQ: YHOO)'s Yahoo! Finance, Goldman's global head of human-capital management Edith Cooper explained the importance of the progressive methods.

"We recognize that there are going to be people who decide that this industry isn't for them and they're going to move on, and that's always actually been the case, but we have to focus on creating an experience once people get here such that they see what the forward opportunities are for learning, making an impact — and that, we believe, is really going to create the retention that is important."

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Goldman Sachs introduced a plan to retain junior bankers last year, detailing accelerated promotion as a key factor in the process.

The company has been using social media platforms like LinkedIn Corp (NYSE: LNKD) and even Snapchat to correspond with candidates more closely and get a feel for their fit within the company. Personality traits will become more apparent through a screening process on the platforms, where an unbiased program will run the information and determine if there are matches between the candidate's interests and the company's preferences.