Authored By: Christon Valdivieso
Edited By: Afton Knight
Companies are finding an increasingly complicated environment in today’s recruitment world. PwC’s19th Global CEO Survey illustrates that 93% of CEOs recognize the importance of developing new talent acquisition strategies. Unfortunately, 61% of respondents admitted they haven’t taken the necessary first steps. Today, many companies have moved toward computer assisted screening programs that—in their efforts to sift through hundreds and thousands of applicants—often block good candidates. At the University of Tennessee there is a different approach taking root.
SCMR contributor and director of marketing at University of Tennessee, Dianne Marshall, reports on a concept University of Tennessee is promoting where companies get to know students and develop relationships prior to hiring. “Developing early relationships with students…helps companies identify the diamonds in the rough that other companies miss,” Marshall reports. A Pepsi recruiter describes the value of relationship building even more succinctly, “there is a lot of information about undergraduates that they aren’t capable of conveying in a resume”
In the previous system often recruiters found that while coordinating second interviews recruits, “were already entertaining another offer.” Under the new system, besides allowing companies to better understand recruits, engaged companies become the “first booth they go and talk to,” another Pepsi recruiter explains. This is the essence of the talent supply chain. The goal is more than finding potential candidates. The talent supply chain’s goal is to create a pipeline of engaged, eager, and qualified star performers. Just as vendor relationships are better with those that are engaged and aligned to a company’s business strategy, so are associates.
This is not to say that college recruiting is the only avenue for recruiting. Recruiters, including leadership at every level, are challenged to use every interaction as a recruiting tool. Everyday companies engage with internal and external customers through social media, e-commerce, and open doors. Those relationships can drive new business as well as new associates.
As Dianne Marshall indicates, this process is often a four-year commitment. For small business owners this may seem unrealistic. If done properly, time can be spent finding new associates and leading the company’s direction instead of accepting unengaged associates because they fill an open position. While this practice of talent supply chain management, in general, seems time intensive I supply this thought: How much business are you loosing due to a re-active talent supply chain?