MIT Sloan Director of Employer Relations & Recruiting Services Jean Ann Schulte
From Business Because
Traditionally, recruiting is an on-campus, very structured, time-intensive, and expensive process. Students and employers learn about each other through a series of organized activities like mixers, presentations, coffee chats, treks, interview prep sessions, invite-only dinners, and interviews.
While the largest, most prominent companies continue to host a full schedule of events at their preferred schools, new approaches are emerging.
Employers seek to cut the cost and time required to hire, while increasing the predictability of a new hire’s success. Students have less time and more employment options. Given the rising demand for talent, they expect a more personalized approach and put greater emphasis on cultural fit.
Enter Artificial Intelligence (AI) and predictive analytics. Together, they automate much of the process of sourcing and engaging qualified, interested candidates. It’s a hot field—the number of VC-backed startups focused on the hiring process and employment has increased six-fold in 10 years, with more than 100 companies entering the space in each of the past three years.
MIT Sloan Associate Dean of Executive Education Peter Hirst
From Harvard Business Review
In today’s increasingly competitive hiring market, organizations need to think differently about how to attract new employees and retain existing ones. Unfortunately, many of the obvious solutions require a financial investment: increasing salaries, bonuses, medical benefits, or vacation days. And if your “competitive advantage” in hiring simply boils down to throwing money at the problem, your hires are quite possibly going to jump ship when a higher offer or benefits package is put in front of them.
So how can an organization increase its benefits without increasing its budget? Many startups will look to add “fun” into the mix — pool tables, nerf guns, pizza Fridays, and happy hours. But that won’t necessarily appeal to all types of employees, and it may not be a sustainable option. Here at the Executive Education program at MIT Sloan School of Management, we took a different approach: introducing flex time.
Tax breaks? Infrastructure spending? Free college? These are some of the ideas the presidential candidates have for boosting growth and creating jobs. But the best way to do it may be one neither candidate has highlighted: bringing more immigrants to the United States. In a Q & A with Rick Newman, Bill Aulet discusses this issue and many others.
Bryn Panee Burkhart, Associate Director, Alumni Career Development
Social media has become an integral component in the recruiting and hiring strategy of all types of firms, from startups to multinational corporations. In particular, LinkedIn offers robust corporate recruiting tools, giving firms sophisticated means of combing through LinkedIn profiles to find talent, a solid job board that shows users their connections to hiring firms, and company pages that build strong corporate brands.
LinkedIn’s biggest source of revenue is from corporations who purchase its corporate hiring solutions. Out of the Fortune 100 companies, 85 now use LinkedIn for recruiting. There are over 200 million members on LinkedIn, and the site claims that a new member joins every two seconds. The fastest growing demographic on LinkedIn is students. LinkedIn is a formidable tool for both recruiters and job seekers, and in the Career Development Office we are actively teaching our students how to leverage LinkedIn. Some key tenants include: Read More »