Recruiting in a Down Market, Part 2: Moving from “Check the Box” Recruiting to Actual Recruiting

You’ve just arrived at the newest, hippest downtown bar.

Walking inside to meet your friends, your jaw drops in wonder. You notice that 70% of the crowd consists of attractive members of the opposite sex.

You sit down to get a drink, and you’re in for another shock: you start getting approached every few minutes. Before the night is over you have 20 phone numbers.

Sounds too good to be true, right?

Not if you had been recruiting back in 2004-2006, because that’s exactly what the hiring market was like back then: too good to be true.

“Check the Box” Recruiting

Recruiting in a Down Market, Part 1: The State of the Market

“Ladies and gentlemen, the state of our union is strong.”

-President Bill Clinton’s State of the Union Address, 1998

(If only we could say the same about the state of our industry.)

Part 1 of “Recruiting in a Down Market” (the presentation Kevin and I have been giving) begins today, with an overview of how things have changed in the past few years and where we’re at now.

After that, we’ll move onto the 4 major ways you need to change your recruiting strategy in a down market, and some key considerations when thinking about your “Plan B” (…and Plans C – Z).

Major Changes vs. 2004-2007

Why You Should Stop Reading BusinessWeek and Start Using Common Sense Instead: What the Mainstream Media is Missing About Recession Recruiting

“Wall Street is over.”

“Students once interested in finance are now thinking about moving to nonprofits and pursuing other interests.”

“Investment banking is so over.”

While I was on my lovely 24-hour flight and airport adventure (don’t you love it when you miss connections?), I had the misfortune of reading some recent headlines.

As usual, though, the mainstream media is getting a few things wrong about the current environment.

What’s happening now is no different from what happens in any market cycle. So don’t pay too much attention to BusinessWeek.