PCBB
BID Daily Newsletter
June 04, 2020

BID Daily Newsletter

June 04, 2020

Virtual College Recruiting During The Pandemic

Summary: With virtual college life expected in the fall, community financial institutions will want to rethink their approach to recruiting college graduates. Virtual career fairs are one important way to go.
We were surprised to find out that newborn babies have almost 100 more bones than full-grown adults. This allows babies to curl up in the womb and then be more flexible during delivery.
These days, it seems bankers need to be more flexible too. With COVID-19, many colleges are already weighing the possibility of switching to all virtual classes in the fall. With virtual college life, community financial institutions (CFIs) will need to rethink their approach to recruiting college graduates.
In the same way that many jobs across the country quickly morphed into remote positions in response to the global pandemic, many colleges and universities have shifted their efforts to help students land jobs online in the form of virtual job fairs. Virtual career fairs are popping up at colleges across the country and they are attracting no shortage of employers, including smaller organizations. While virtual recruiting tools are not new, they are now being embraced by colleges and employers in a way that allows for better matching on both sides.
Take, for instance, Handshake, an online career fair platform that schools use to provide their students with digital access to companies looking to hire. This site has seen an explosion of interest from businesses seeking to fill positions with recent college graduates. According to Handshake, its website recently reached a new milestone of 1MM messages exchanged between employers and college students in just one week.
Efficient & Effective. Virtual fairs can actually make it more efficient and effective to recruit. They remove the travel aspect for potential employers, making recruiting less time consuming and allowing them to cast a broader net which might otherwise be hard, especially with a small staff.
Using Artificial Intelligence (AI). Many virtual career fairs are also employing AI to help both students and employers to narrow down their most attractive prospects. From analytic tools able to scan resumes for keywords and experience to chatbots that can do an in-depth screening of candidates, more information can be gathered in a timely way.
Zoom Interviews. Once candidates are narrowed down, employers have the ability to interact with applicants in one-on-one interviews through virtual meeting tools such as Zoom. This is also a good way of getting a glimpse into how a potential employee conducts themselves through electronic interactions, which is important these days and likely beyond.
While virtual recruiting may mean additional work for HR staff, CFIs should not miss the opportunity to participate in virtual job fairs. As COVID-19 speeds up the world's acceptance of remote working and mobile banking, you will likely find that special skills are needed in addition to the usual ones. Now may be the time to start planning to attract those college students that are both capable and passionate about technology, and would be a good fit for your institution. For additional information on recruiting during the pandemic, feel free to reread our article, Remote Work - For Recruiting & Retention.