My son just went through his last round of co-op interviews, and things were quite different this time around.
He’s a computer science major which has basically given him the ability to pick his place to work.
Then, Covid-19 arrives, and everything changed. There are now significantly fewer co-op jobs on the co-op board.
He wound up interviewing with five companies and was especially interested in two of them. One of the companies, right in the middle of the co-op interviewing process, pulled the job and told students they’d open the requisition back up later on in the process.
I asked my son what he thought about this move, and here’s what he said:
“I’m not waiting around for these guys.”
Ah, a proud mom moment. I’ve taught him well! You see, talent waits for no one.
Last week, he accepted a fantastic job offer from a company where he previously worked. That company is charging ahead, despite the pandemic.
They’re doing what I wrote about in my latest book, Evergreen Talent.
They’re seeding their workforce and nurturing talent.
As an expert in talent, I’ve been intrigued by this organization. The company culture is impressive, and they really do go above and beyond the call of duty to engage their workers.
In this market, where there are way more people than jobs, this company could have offered my son the same pay he had previously made there. But they didn’t. He’s making now considerably more.
Dinner’s on my son tonight!
To a 21-year old college student (and a whole lot of other people), money is certainly a motivator.
My son can’t wait to start his new job, although he’ll miss the free food and other perks of the job since he’ll now be working virtually.
He’ll look back at this post one day and roll his eyes, but in my eyes, my son is always #1. And because of slothfulness, some companies missed out on great talent. His previous employer knew it, which is why they snapped him up at a premium.
So, what about your company? What are you doing to secure the talent you need now to be a stronger, healthier company later?
What are you doing to build your talent pipeline? Have you kept your internship and co-op programs in place, or have you completely dismantled these? If it’s the latter, how will you ensure you can hire the entry-level talent needed to fuel your business growth?
Are you ruthlessly chopping people off the payroll, as you look to reduce expenses, with little regard as to how this will impact your future? Be careful not to eliminate too many middle management roles, or you may find yourself paying high search fees to fill more senior management roles in the not-so-distant future.
How will you differentiate yourself from the pack in terms of attracting talent? What are you offering current and prospective employees that no one else is offering, now that free food and Tuesday night beer busts are but a distant memory? How are you getting the word out about these changes?
I get that the issues around talent can be somewhat complicated these days, especially as you look to get through these next few months. On the other hand, you want to be well-positioned to take advantage of new opportunities that may come your way.
If you’d like to talk through your talent plan, reach out to me at Roberta@matusonconsulting.com. I’ll carve out time on my calendar to have a discussion with you, sooner rather than later, because talent waits for no one.