Employers Paying Colleges for Exclusive Recruiting Rights
Today's CollegeRecruiter.com Blog posting is courtesy of Toby Dayton of JobDig as part of the Recruiting.com Blog Swap.
The Minneapolis Star Tribune ran a great story yesterday on the deal that TCF Financial Corp. has struck with the University of Minnesota. As part of the company’s $35 million naming rights deal for football stadium, TCF also received a wide range of additional branding, marketing, and advertising perks including access to 236,300 alumni and season ticket holder names and addresses, the right to put the TCF logo everywhere you could imagine around the stadium, and the right to become the dominant bank on campus, pushing competitors off campus.
Leaving aside the ramifications surrounding the TCF/University of Minnesota stadium deal, and there are many, what if a similar type of arrangement was struck with employers who were trying to reach college students with employment opportunities? Or companies like Monster who wanted to establish themselves as the sole provider of recruitment advertising around the university? It is not inconceivable that some day 3M or General Mills might pay the university some amount of money to be the only company who could recruit on campus, or maybe paid a smaller fee to be the first company every year to host their own job fair, giving them first crack at the top students. How about Monster paying a fee to be the only company that was allowed to host a career fair on campus?
As baby-boomers retire and the resulting shortfall of 32 million workers becomes an increasingly acute problem for employers in the coming years, these types of arrangements will not only be considered and discussed, they will most likely become a reality in one form or another. They may not happen everywhere, and certain institutions will resist the temptation of easy money, but companies will undoubtedly become extremely aggressive in establishing exclusive access to pools of talent as a means to assure they find the employees they need to compete. The issues around privacy, competition, open access to employment opportunities, commercialism, and the role schools play in helping their students find employment are complex and multi-faceted. As the issues take shape in the years ahead, students must pay close attention to what their schools are doing in this area and become active and vocal to make sure their needs and interests are being attended to. And as is always the case, the more responsibility students assume for their own career development, the more immune they will be to what is happening in the world of recruitment advertising.
-- Toby Dayton is the Chief Operating Officer and President of Minneapolis-based JobDig, an employment-focused media company that helps business of all sizes within any industry lower the cost and improve the effectiveness of their hiring and recruitment advertising. JobDig does this through classified advertising and integrated multimedia solutions involving print, radio, television, and the web.










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