For structuring an offer, it’s important to incorporate external considerations, i.e., what your competitors are paying; internal considerations like your compensation philosophy, including how you handle internal equity, and elements of your negotiation, especially closing the ¬deal’ and helping to avoid buyer’s remorse.”

SL: What are the worst MBA recruiting mistakes?
SGT: Here are the don’ts”: Don’t recruit MBAs like you would undergraduates Don’t decentralize your efforts too much leading to inconsistent messages and lack of coordination Never play dirty Don’t over expect Don’t turn your recruiting activity on and off like a faucet Don’t fail to market the program internally Don’t appear arrogant

SL: Obviously the Internet has brought about permanent change in how people recruit for and find jobs. How has the Net specifically affected MBA recruitment?
SGT: The Internet is an amazing and cost-effective tool for MBA recruitment and recruiting overall. It does not take the place of people, however. MBA recruiting is a high touch, rather than high tech process.

Companies, can, however, leverage the Internet in three vital ways:

They can create a winning web site that differentiates the company vis-õ-vis competitors and attracts the kind of candidates it wants. They can tap into some of the best of the 2500 career-related Web sites currently available to post job openings. The Internet is a cost-effective channel for sourcing œ for reaching a broad and even global candidate pool. Smart, visionary companies also use web-based tools for practical applications like sharing resumes across groups in multiple locations, resume/candidate screening, applicant tracking, management reporting (cost per hire, etc.).

For job seekers, the Internet can be a great resource for researching industries, companies, competitors, and job openings. For example, many MBAs and alumni look first at a company’s Web site before deciding to accept or decline its interview.

SL: The idea of unemployment for life” with one company no longer exists. Once an organization succeeds in hiring the best and the brightest,” what should it do to make sure those best and brightest stick around long enough to be of value?
SGT: After spending all the time and resources to recruit great talent, it’s important to develop, inspire, and keep that talent. This is for pragmatic reasons like: getting your ROI and heeding your real cost per hire but also keeping great employees builds morale and ensures a robust, productive organization.

There are 7 Cs for keeping your talent in good times and in bad: 1. Core values and culture 2. Connect people to people and to the organization’s aspirations 3. Communicate like they mean it 4. Create continuous learning opportunities for their employees 5. Care about career development 6. Commit managers to people and make sure there’s accountability for people being a priority 7. Compensate with tangibles and intangibles.

If you would like to purchase Hiring the Best and the Brightest” or learn more about AMACOM’s comprehensive list of business titles, go to www.amanet.org

Sherrie Gong Taguchi is an HR professional, educator, and author based in London. She was VP of University Relations for Bank of America and Director of Corporate HR for Dole Packaged Foods and most recently, for the past 7 years, Assistant Dean and Director of the Stanford Graduate School of Business MBA Career Management Center, where she also headed the School’s Management Communication Program. Ms. Taguchi earned her Stanford MBA in 1989. She is working on a second book for individuals aspiring to bold, dynamic, meaningful careers.