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Attracting the best people: what makes a truly competitive package for business schools?
Business Schools
In today’s competitive academic job market, top-tier faculty and professional staff are looking for a lot from business schools, and pay is rarely the only deciding factor. For hiring teams looking to stand out, offering a compelling employment package means thinking well beyond compensation.
The most successful business schools recognise that top talent, especially those with high mobility and global options, are drawn to environments that promise not only financial reward but also professional fulfilment, personal well-being, long-term career development and much more.
Here’s what truly competitive recruitment looks like beyond the pay check.
Career development and leadership opportunities
Regardless of where an individual is in their professional journey, everyone wants to know where their career is heading and how the business school can support their ambitions. Clear promotion pathways for all faculty and administrative roles will aid attraction of the best talent. Perhaps more importantly, though, providing evidence that the school follows through with these plans is an absolute must. Make sure to demonstrate how others have progressed and advanced their career thanks to the school’s commitment and support.
When seeking to attract the best talent as a business school, it also helps to highlight how you will support career progression for different roles. For example, some professionals may benefit from mentoring or reverse mentoring programmes to support a move into a more senior position. Others may be interested in leadership development, such as internal fellowships or secondments.
Strong professional networks and collaboration opportunities
The best people are often drawn to a school with a dynamic intellectual environment. In order to attract top talent, it’s important to highlight the interdisciplinary partnerships that are available, as well as the extent of the visiting scholar programs and opportunities for international collaboration.
This information needs to be conveyed far and wide; waiting until an individual has applied for a role and is attending interviews is arguably too late (though it will help to sell a move to an applicant at this stage). At Telfer Partners, we ensure that the extent of the alumni network and the ties that a school has to the business community are made clear in any job adverts and shared as part of our outreach to individuals.
Work-life flexibility
The ability to fit work around personal lives has grown in importance for almost everyone in recent years, and the same can be said of business school staff. While there may be some roles where physical attendance on location is absolutely necessary, professionals today are looking for at least a degree of flexibility.
It’s beneficial to directly promote that your school is open to discussions around flexible working, as this may be a critical factor for many when it comes to choosing to apply or not.
A culture that fits with them
As we highlighted in our last blog , culture is significantly important. For top talent, working for a business school that is aligned with – and supports – their visions and values is critical. However, it is perhaps one of the more under-valued and under-utilised tools in a business school’s employment armoury.
Even without elite rankings, a school can attract top talent if it presents a compelling culture. Showcasing its strong inclusive mission and commitment to diversity, equity and inclusion (DEI), as well as its focus on a collaborative, rather than competitive, environment all add to a strong and attractive employer brand profile. Recruitment packages aren’t just about what you give, they are also about what your school represents. Candidates want to be part of a story that aligns with their values and aspirations.
Attracting talent: Business schools need the whole package
In the competition for exceptional business school talent, hiring teams must present a compelling, holistic package that speaks to a person’s full range of priorities. It’s easy to slip into the mindset that competitive salaries will be the biggest lure; however, in a tough economic climate where budgets are under scrutiny, financial incentives aren’t always feasible on the scale needed. It also has the potential to create a negative culture of profit over academic reward, which few, if any, schools want.
However, our experience working with international business schools shows that individuals want far more than a job title and salary band – they are seeking an opportunity to belong, grow and thrive, and that’s where business schools can truly stand out in their recruitment.
Need help designing a more compelling recruitment package or telling your school’s story more powerfully to candidates? Let’s talk.
