Mid-market CEOs can build talent pipelines through university and community relationships.
Spotting talented individuals can make all the difference between success and failure for a mid-market business. As a CEO of such an organization, you understand this better than anyone—having access to the right resources can be essential to moving your company forward. Hence, why building up a diverse talent pipeline is so critical? And it ensures you always have access to qualified job candidates whenever necessary.
However, this isn’t a simple task and requires specialized knowledge of where to find these applicants. Companies can either go wide by recruiting workers from different geographic regions or go deep by building stronger connections within the local community and higher education institutions. In this article, we’ll look at how mid-market CEOs can go deep by leveraging community and university relationships to build up their talent pipelines.
A partnership with a higher-education institution can give you access to cheaper higher-skilled talent since most are early in their careers. Academic institutions can also provide training and development solutions to your current workforce, thereby upskilling it. Most educational institutions successfully bring together people from diverse backgrounds and perspectives, enabling mid-size companies to innovate and grow.
According to National Center for Middle Market, many mid-size companies begin recruiting only when they have a position to fill. Whereas larger companies have dedicated resources to recruit continuously and actively. They have individuals on campuses connecting with future talent. This visibility goes a long way to moving them to the front of the line when graduates consider where to work.
Community relationships can also be valuable for mid-size companies to nurture and develop. Employees will be more loyal and dedicated to companies that support their local community. Also, customers have traditionally supported companies invested in their community. Community outreach also goes a long way to show the company’s commitment to social and environmental stewardship. In addition, community relationships can lead to increased collaboration with other businesses, organizations, and community members, providing mutually beneficial arrangements. For more information on setting up a community outreach program, refer to my previous article, “An Essential Brand Awareness Strategy for Mid-Market CEOs”.
Steps to take in fostering these partnerships
- Identify potential partners that align with your company’s mission and values.
- Do your homework by understanding these institutions and their needs in order to discover mutually beneficial ways of working together.
- Start small to build trust with these partnerships. This could mean starting a small project or pilot program to ensure a positive working relationship.
- Communicate and course correct as needed. The partnership will evolve and needs to be nurtured to ensure mutually beneficial outcomes.
Overall, strengthening and actively nurturing a relationship between universities, communities, and mid-market organizations is a win-win situation. It gives mid-market companies access to young talent while guiding students to launch their careers upon graduation. From internships to co-designed curriculum opportunities, this partnership also creates deeper conversations between employers and institutions about the skill sets needed for the new landscape of modern work.
By understanding each other’s needs and mapping out tailored learning experiences geared towards advancing job skills, the goal should be to create a thriving work culture and an empowering environment where growth has a purpose.