Candidate Care in a Down Economy

Candidate Care in a Down Economy

Are you recruiting ‘Passive’ Candidates as if they were ‘Active’?
I had a recent conversation with a very frustrated hiring executive: The conversation resurfaced some ‘best practices’ around recruiting quality talent.

He was frustrated with the current recruitment efforts on critical to fill positions in his department. While they had gone through great lengths to deploy a sourcing strategy to drive quality, passive talent into the recruitment process, the vast majority of candidates they were interested in were “bailing” out of the process.

Pondering the situation, I asked a few simple questions to try and identify the root cause of the defects
1.How are you engaging candidates into the process?
2.How quickly are you engaging candidates into the process?
3.Who are they meeting with on their first visit?
4.Where are they meeting?
5.Does the candidate fully understand the next steps after their first meeting?

The answers I received from the recruiter/hiring manager might not surprise you:

1.“Well we have them go through the normal process. If they are interested, we ask them to go online to register in our system”.
2.“Once they hit the system, the recruiter is calling them within 24 hours – - hopefully – - to do a pre-screen with them.”
3.“We like to have them come into the office and meet with the recruiter first – - then meet with the hiring manager. Ideally, we like to get a slate of candidates to come in and interview all the same day/afternoon. It is much more convenient for the hiring managers.”
4.“Ideally – the office. It makes it easier for us.”
5.“We let them know that we are interviewing several candidates and will have feedback within 3-5 business days.”
I think you know were I am going with this!

So after listening to his answers, I reflected and responded:

“So your managers are requesting the recruitment team to find the highest quality (often passive) talent possible but . . . you want the passive candidates to engage on your TERMS?

•Fill out paperwork before I will talk to you
•Come to my office
•Sit in lobby with other candidates
•Wait for a response
I don’t know about you folks, but if the University of Alabama used these technique to ‘recruit’ the most talented football players – - I bet they would not have won the national title last year!

While I don’t want to make light of this situation, I find this dilemma within hundreds of companies throughout the country. Simply put:

They are trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.

Organizations that excel in recruiting top talent, take a holistically different approach to the passive candidate recruitment efforts.

Some Best Practices

1. How are you engaging candidates into the process?

Once the recruiter makes contact with a top prospect and does a preliminary pre-qualification (hopefully on the same call), they immediately seek to set up a “cup of coffee” meeting with a dynamic hiring manager. No initial paper work. We can take care of that later. No resume? No problem, lets just meet and have an exploratory conversation.

2. How quickly are you engaging candidates into the process?

Immediately (as outlined above)! I have worked with hiring managers that literally say – - if you get a top notch person on the phone, I will meet anywhere, anytime.

3. Who are they meeting with on their first visit?

While I am not saying they shouldn’t meet with a recruiter on the first visit, the quicker you get them connected with a dynamic hiring manager the better. From experience, it is much easier to engage a talented professional to have a “confidential, exploratory discussion over a cup of coffee” if for nothing else – - to network VERSUS – getting them to come for an interview with a recruiter!

4. Where are they meeting?

When you are not looking for a job, the last thing you would want is people to THINK you are looking. Coming to a competitors office for a visit – - in this day and age of LinkedIn, Facebook, etc. – - is very risky at best. And to ask them to sit in the lobby with other “candidates” is disrespectful in my book.

5. Does the candidate fully understand the next steps after the first meeting?

If you meet someone and like them, you should recruit that person. What is wrong with showing your excitement for taking the next steps – ask them their availability to meet with a key executive – - BEFORE you leave that first meeting? I am not implying an offer? I am just showing sincere excitement about moving forward and keeping the positive momentum during our courtship!

These are simple best practices I have seen successfully deployed by organizations that don’t fall into the trap of trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.

If you find yourself in this dilemma, please share this with your hiring managers )





http://www.leanhumancapital.com/blog/2010/02/10/are-you-recruiting-passive-candidates-as-if-they-were-active/

For-Profit Education Stocks Slide Even As Enrollment Gains

For-Profit Education Stocks Slide Even As Enrollment Gains

By Caitlin Nish
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Shares of for-profit education companies tumbled Friday even as quarterly results have shown enrollment continues to be strong.

Educators have seen earnings soar during the recession as high unemployment has pushed people to seek new skills and education. DeVry Inc. (DV) late Thursday said its fiscal third-quarter profit surged 60% on a 26% rise in total student enrollment, while ITT Educational Services Inc.'s (ESI) first-quarter profit rose by nearly half as total enrollment climbed 29%. But investors are wary about growth slowing as employment numbers improve.

Shares in the sector were also lower Thursday on a third-party study released by the Career College Association showing for-profit schools would be hit hard by the "gainful employment" recommendation that's part of proposed regulatory reform. Education stocks have been volatile over the past several months as the federal government continues to discuss new regulations for the higher education industry.

ITT's shares were recently down 1.7% to $110.83, while DeVry's were off 7.4% to $68.78.

As for the latest quarterly results, Signal Hill analysts said in a note, "We could not have scripted a better quarter for ITT. But signs of the advancing deceleration are creeping in as well."

The firm added that it was encouraged by ITT management's candid acknowledgement of the pressure it will face from an improving job market and its belief that it can achieve a "soft landing, decelerating gradually to high single-digit enrollment growth."

While noting that DeVry had a "fantastic" third-quarter, Wedbush said in a note Friday that the stock is likely trading lower due to execution snafus but more importantly, comments about the negative impact of an improving economy.

Also pressured were Corinthian Colleges Inc. (COCO), down 5% to $17.79, and Apollo Group Inc. (APOL), 2.9% lower at $62.98. Career Education Corp. (CECO) was off 2.2% to $34.13.

Still, Wedbush added that the key near-term driver for DeVry's stock "remains the outcome of the regulatory process."

The U.S. Department of Education is working on a "gainful employment" measure to make schools more accountable for graduating students with high debt-to-income ratios.

The study released by Career College Association said the proposal would displace hundreds of thousands of students as their programs close and could block more than 5 million students from the schools by 2020.

The department is expected to release a version of the proposals for public comment by mid-June.

-By Caitlin Nish, Dow Jones Newswires; 212-416-2076; caitlin.nish@dowjones.com

Capella Education 1Q profit rises 83 percent

Capella Education 1Q profit rises 83 percent

MINNEAPOLIS

For-profit school Capella Education Co. said Tuesday that its earnings rose 83 percent during the first quarter as more students enrolled, and the company boosted its outlook for 2010.

For-profit schools have had huge increases in revenue and earnings throughout the recession as students look to beef up resumes and learn new skills to compete in a weak job market.

For the three months ended March 31, the Minneapolis company earned $15.2 million, or 89 cents per share, compared with $8.3 million, or 49 cents per share, during the same period a year ago.

Revenue increased 32 percent to $101.2 million as total enrollment grew 32 percent to 37,178 students.

Analysts polled by Thomson Reuters had expected profit of 79 cents per share on revenue of $98.8 million.

Capella said it expects revenue to increase 26.5 percent to 28.5 percent in 2010, compared with a a prior forecast of 24.5 percent to 26.5 percent. That implies revenue of $423.3 million to $430 million, above Wall Street expectations of $421.8 million.

Baird analyst Amy Junker said Capella, with its emphasis on post-bachelor's degree programs, should not suffer a hit to earnings from regulatory changes proposed by the Department of Education. She raised her share price target to $125 from $114.

The Department of Education has proposed limiting graduates' student aid repayment costs to 8 percent of income. The proposal aims to ensure schools are not taking unqualified students or charging students for classes that will not help them land better-paying jobs.

Capella shares fell $58 cents to $93.87 in afternoon trading after earlier hitting a 52-week high of $95.58. The stock has ranged from $46.37 to $94.59 over the past year.



http://www.businessweek.com/ap/financialnews/D9FBJJ9G0.htm

Regulatory Compliance & Gov’t Affairs Director $150K Phoenix Must be ACCSC accredited

PM for more details @hshepard@dshefrin.com

Position Summary
Provides leadership and manages Regulatory Compliance and Government Affairs functions.

Principle Accountabilities & Deliverables
• Manages the Corporate Compliance and Ethics program, including:
 Counsel on issues relating to federal and state regulations and laws regarding corporate compliance programs.
 Participation in and/or leadership of the Risk Assessment Team including Senior Team/Board reports related to various assessments.
 Management of Code of Conduct compliance efforts and related updates
 Publication of compliance brochures.
 Delivery of compliance education programs required to meet Federal Sentencing Guidelines for SOX compliance.
 Participates in compliance investigations and related Employee Hotline calls.
 Provides training programs on various topics, including FERPA, GLBA and HIPPA, etc.

• Functions as primary Governmental Affairs liaison
 Evaluates pending legislation, develops compliance strategy, and leads compliance process
 Stays up to date on changing political landscape relating to post-secondary for-profit education.
 Develops and maintains strong relationships on behalf of UTI with elected and appointed officials such as legislators, regulators and agency officials.
 Informs and counsels Senior Leadership team regarding federal, state and legislative activity, regulatory initiatives, for profit education issues and emerging issues that could have an impact on the company.
 Participates in the drafting and updating of the SEC 10K (Annual Report).
 Others duties and projects as assigned.

Knowledge, Skills, & Abilities
Education / Experience
• Bachelor’s degree required
• JD preferred.
• 7-10 years direct experience in regulatory compliance, accreditation and licensing in higher education or in a highly regulated industry preferred.