Recruiting in a down market: make the economy work for you.(SMALL BIZ BEAT)

In this difficult economy, companies are doing everything they can to cut costs. One of the first casualties is often their college recruitment program, in fact, a recent survey conducted by the National Association of Colleges and Employers reported that campus recruiting is down 22 percent due to the economy and accounting internships are down 21 percent.

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Even though this is bad news for college students, it may be even worse news for those firms who are making those cuts. Recruiting relationships benefit more than merely the students and universities they come from - they are a great advantage to the firms who implement them.

So what does your firm stand to lose if it cuts its college recruiting program? A great deal.

Internships are an excellent resource and smart firms that continue to utilize them can reap some great benefits. For example:

1. Salary offering - in a weakened economy, firms are able to offer a lower pay rate or unpaid internship while utilizing the services of top prospects

2. Better pick of the quality students - With larger more visible firms pulling back, there is a tremendous opportunity for smaller firms to have a chance to recruit top talent

3. Solidifying relationships with top universities - When the economy bounces back, universities will remember those firms who stuck with their students and their programs - a benefit that will continue to pay off for years to come

4. Strengthening your brand - Never underestimate the importance of keeping your firm's name visible

5. Reaping the benefits of a more diverse workforce - Keeping your personnel balanced with the next generation can add immeasurable value to your workforce

Firms that continue to recruit in a down economy position themselves for a stronger market presence when the economic tide turns. While other firms will be attempting to "rebuild," those firms who kept current will be ahead of the game with a well-developed workforce already in place. In tough times, the companies that continue to make sound investments with their eye on the future are the real winners.

Pam Strohmeyer is the director of campus recruiting for Rehmann.

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