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New Talent Identification Improves MBA Recruiting for Fortune 500; Competition Rises Among Companies: 50% of MBA Students Have Offers Months Before Graduation

Posted on: Wednesday, 16 August 2006, 15:00 CDT

Fortune 500 employers are discovering that top MBA talent on the campuses of the nation's leading business schools is becoming more elusive than ever. MBA Scouting Report, a new company that specializes in the early identification of first year MBAs in the United States and abroad, is helping Fortune 500 employers improve their chances of finding MBA talent that is the "perfect fit" for their organization.

Although the number of applicants to B-school is once again increasing, corporations are seeing a significant dilution in the pool of desirable MBA students at top tier business schools. MBA students are now spread among first and second tier schools as well as across multiple MBA programs (i.e., part-time, online and executive). As a result of this dilution, the schools are compensating by reducing their class size and/or admitting more international students than in the past, most of whom lack long-term work visas.

For employers, this means they must send more recruiters to more campuses and spend more money trying to identify candidates with the desired qualifications. For many, this process is too much of a drain on their already-stretched resources. Organizations that don't adjust to these challenges will find themselves falling short or their hiring goals of reducing the quality of their hires.

"MBA recruiting is akin to professional sports recruiting. You go out and find the best talent, you don't wait to see who shows up at tryouts," said Maury Hanigan, president of the MBA Scouting Report. "Today, employers must identify candidates very early in the school year in order to get the best candidates, rather than wait to choose from students who sign up for an interview or submit a resume. Recruiting talent early on is one of the ways for organizations to maintain their competitive edge."

With some candidates - particularly minorities - being recruited as early as the summer before their first year of B-school, employers cannot afford to wait until the spring semester to identify potential interns. MBA Scouting Report addresses this with a unique solution - a highly targeted, pre-screened list of students that matches the desired qualities required by employers. The MBA Scouting Report pre-screens candidates using well-trained scouts who meet with students and determine which of those students meets the organizations' requirements. The employer can then begin to build a relationship with the best students before formal interviewing begins.

The MBA Scouting Report's benefits to Fortune 500 clients include:

-- Cost Reduction - Companies do not spend time and money interviewing MBAs who are eventually not hired.

-- Broader Candidate Pool - Top students from more schools can be considered without increasing the recruiting staff or budget.

-- Greater Yield - More candidates accept job offers because they have been engaged with company recruiters longer.

-- Better Hires - Companies don't miss highly qualified candidates because they didn't pick them out of a resume book or connect with them at a recruiting event.

-- Earlier Identification - The report streamlines the interview process by eliminating hundreds of non-qualified students from a company's interview pool, putting companies ahead of their competition to hire only top students that meet their organization's particular qualifications and culture.

About MBA Scouting Report

MBA Scouting Report is the leading firm for the on-campus talent identification of top MBA students by Fortune 500 organizations. MBA Scouting Report works with the country's top MBA employers to identify highly qualified first-year MBAs for summer internship positions. Working exclusively with one employer per business function at each graduate business school, the company is able to identify the best candidate and provide its clients with a distinct advantage in their recruitment and hiring process. Visit www.MBAScoutingReport.com.

Source: Business Wire

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