To set itself apart in attracting the future of our workforce, one organization has taken a unique approach. While career fairs, information sessions, partnerships with career centers, and building relationships with Professors have their advantages, Amod Damle from Russell Investments decided to add to his recruiting arsenal.
Damle has spent the past 18 months advancing relationships with targeted investment clubs at several Universities, for Russell’s highly sought after Investment Internship program.
A couple of examples of the student led clubs he and Russell have forged relationships with include the exclusive sponsorship of the California Investment Association from UC – Berkeley (CIA); and the University Investors Association from University of Texas – Austin (UIA).
One may think sponsoring student clubs, not too original. But, according to Siddharth Jawahar, President of the UIA, Russell’s partnership has been particularly unique. Jawahar stated, “Amod and the Russell Investments team have invested the time to get to know our members personally during several visits to our campus. The business leaders they have brought to club meetings share in depth information about their career paths, trends in the financial markets, as well as get personally involved in a variety of social networking activities.” He also stated on one occasion the UIA has received more benefit from the partnership in a 6 month period than some of the other financial services companies over a 5 year period.
When the partnership started Amod hired LOCAL Na8ion to build a technology platform for the clubs. The UIA site includes a blogging capability, once the club is ready to start.
Another great example was a 2 day visit to the firm’s headquarters in the greater Seattle / Tacoma area. A dozen students from various clubs throughout the U.S. attended. The agenda included several presentations from Russell Executives, an in-depth company overview, tour, time with former interns, hiring managers, and recruiters. To top off the visit, a Seattle Sonics game.
The inaugural “Investors Open” in Austin was also a major hit.
75 students and 6 associates from Russell attended the memorable event. The day included a golf tournament, food, awards, and a raffle for 2 iPhones with the proceeds benefiting the face AIDS initiative.
When asked about the success of the program, Damle stated, “The relationships we have built with student organizations and clubs are invaluable, and mutually beneficial.” He added, “The connections made and the relationships we have built are both long-term and meaningful to us. They have positioned Russell for success on campus, and have enabled us to receive high quality hires and referrals – something we would not have received with a simple on campus presentation, left over brochures for students, or a pizza party”.
While the investment in these partnerships on the surface may look costly, the return has proven otherwise. It is more about allocating resources wisely when you look at what is thrown at the traditional recruiting methods.
It’s intelligently investing.