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WHY TALENT STILL MATTERS ADDRESSING TODAY’S STAFFING CHALLENGES
Until recently, a long-running bull market, low unemployment and a sense of economic optimism challenged many industries to attract and retain top talent. Then came COVID-19. While the long-term impact is uncertain, three local executives involved with recruiting and hiring shared their current strategies and insights with Crain’s Content Studio. What’s the most common recruiting challenge facing your industry? John Compernolle: Recognizing that we’re in extraordinary times now, Bank of America is making every accommodation to ensure the safety of our employees while continuing to serve our customers and clients. Prior to the COVID-19 outbreak, our biggest challenge was shifting the perception of banking to attract the new generation of workers. Banking has historically been synonymous with conservative, but that’s not today’s banking. With the digital revolution, we think of our company as a technology company—there are so many new opportunities for creative technology talent layered in with traditional finance expertise. The shift is influencing our culture, how we set up workspaces for better collaboration and even in some cases, how we dress. Julie Burke: Our biggest challenge is that we’re in a niche industry with a very limited talent pool, so we end up pursuing the same candidates as other architecture, engineering and construction firms. The emphasis on STEM programs in our schools will hopefully expand students’ interest in pursuing STEM-related careers.
Brand: We pay competitively for experience and offer bonus plans that support a pay-for-performance philosophy. It also helps when we emphasize to candidates that we’re a growing and financially stable business; the fact that we’ve been around 100 years serves as proof that our company is sustainable. That and the fact that we’re privately owned holds a great deal of appeal for many candidates who are uneasy with the quarterly uncertainties that come with a publicly-traded company. We also LARRY BRAND JULIE BURKE have robust, experience-rich intern VP, Chief Human Resources Officer Human Resources Manager programs. Younger candidates are Elkay Manufacturing Co. Klein & Hoffman Inc. impressed by our philanthropy and larry.brand@elkay.com jburke@kleinandhoffman.com volunteering and admire how we help 630-574-4501 312-251-1936 to keep single-use plastics out of the environment. We emphasize employee referrals, have put technology in place to enable employees to support passive support the career advancement of U.S.-based workforce. Our Women’s sourcing via social media, and have high-potential talent. We also offer a Next Level leadership program strengthened the rewards provided Diverse Leader Sponsorship Program, provides strategies and tactics to help through our employee referral which pairs diverse rising talent with multicultural women progress their Elkay ad. Crain’s Chicago Business. Attract & Retain Special Issue. March, 2020. programs. senior leader sponsors. careers, and our Women’s Executive Development Program through Burke: We’ve revised our Brand: We employ out-of-theColumbia Business School allows compensation program to really put box thinking to identify and attract women to engage, develop, retain and the value on recruiting and retaining top talent, promoting our stable, longterm business. Candidates learn that we put a true value on the importance of collaboration, teamwork and family. Employees and their families are a part of our firm.
JOHN COMPERNOLLE
SVP, Market Executive Bank of America john.compernolle@bofa.com 312-992-6329
diverse candidates for as many roles as possible. We’ve had some notable success, having recently received a national award for the diversity of our board of directors—the last bastion of the glass ceiling in the broader publicly-traded business community. Also, two of our female leaders were
“WE PROMOTE THE VALUE OF HAVING FEMALES IN LEADERSHIP ROLES, INCLUDING A STRONG MENTORING PROGRAM THAT PARTNERS SENIOR ENGINEERS AND ARCHITECTS WITH NEWER ADDITIONS.” - JULIE BURKE Larry Brand: Competition is difficult when recruiting for professional roles, but it’s doubly so when seeking candidates for hourly manufacturing jobs. Many candidates have multiple offers, which puts pressure on us to make quick decisions as to whether a particular candidate is right for the job. Our recruiting team has had to hunt more aggressively than ever, putting a stronger emphasis on finding passive talent for specific hardto-fill professional roles. All of this may change, however, in the aftermath of the coronavirus. What strategies and methods are you using to attract the best talent?
Compernolle: The four tenets of our employee retention strategy include recognizing and rewarding performance, investing in diversity and inclusion, creating and providing opportunities for employees to grow and develop, and supporting employees’ physical, emotional and financial wellness. How is your organization attracting women and diverse applicants? Compernolle: Women represent more than half of Bank of America employees, and people of color represent more than 45% of our
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I’m proud to work for Elkay.
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The company invests in my success.
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I do work that makes a difference.
I love my co‐workers.
I feel like part of a family.
Come to work for Elkay, and that’s how you’ll feel.
Elkay is a thriving, values‐driven global company focused on doing the right things so we can be in business forever. We’re financially‐stable and family‐owned, with an enduring reputation for ethics, integrity, giving back, and providing an engaging, inclusive environment where careers flourish and grow. If you’re ready to join a company where everything you do makes a difference and you go home proud at the end of each day, visit Elkay.com and talk to us about joining the Elkay family!