Evolving Talent Acquisition with US Bancorp’s Mitch Schwartz - Next Practices Weekly

On January 30, 2025, Next Practices Weekly welcomed Mitch Schwartz, EVP and Global Head of Enterprise Recruiting at US Bancorp, for an insightful discussion on redefining recruiting and workforce strategies at a leading financial institution. Joined by host Tom Stone, Senior Research Analyst at i4cp, and Mimi Turner, VP of Executive Search, the session explored how US Bancorp is transforming talent acquisition to align with business priorities, enhance internal mobility, and leverage technology for a more efficient, skills-driven workforce.

Talent acquisition is constantly evolving, and US Bancorp is at the forefront of reimagining how organizations attract, engage, and retain top talent. In this session, Schwartz shared how his team has shifted from transactional hiring to a strategic talent advisory model—one that prioritizes internal career growth, optimizes the use of AI and automation, and builds a more agile, inclusive workforce.

Drawing from his extensive experience in banking, telecommunications, and tech, Schwartz highlighted the critical steps his team has taken to elevate recruiting at US Bancorp. From revamping internal hiring strategies to leveraging automation in a highly regulated industry, the conversation provided valuable insights for HR and talent leaders seeking to modernize their approach.

Key topics of discussion:

• From Transactional Hiring to Strategic Talent Advisory: US Bancorp has moved beyond reactive hiring, upskilling recruiters to become trusted advisors. By aligning recruiting with business priorities and developing sourcing, executive search, and contingent labor strategies, the function is now a key driver of workforce planning.
• The Power of Internal Mobility: A Cultural Shift in Hiring: Historically, recruiters did not actively engage internal employees, assuming they would apply for roles independently. Now, recruiters proactively source internal talent, aiming to increase internal hiring from 35% to 60%—a shift that improves retention and career development.
• AI & Automation: Enhancing Efficiency Without Replacing Human Judgment: While AI is being tested in areas like interview scheduling and candidate sourcing, US Bancorp remains cautious about full AI-driven decision-making. Instead, the focus is on automation that enables recruiters to work more efficiently while maintaining compliance in a highly regulated environment.
• A More Purposeful Approach to Early Career Talent: The company has restructured its internship and early career programs to align with workforce planning. Instead of treating internships as a standalone initiative, they now serve as a direct pipeline into the business, helping to cultivate future leaders.

The conversation with Mitch Schwartz underscored the need for HR and talent leaders to take a more strategic, skills-based, and technology-enabled approach to talent acquisition. As organizations face a rapidly changing labor market, US Bancorp’s blueprint offers key lessons on internal mobility, AI integration, and workforce planning.

For more insights on how leading organizations are evolving their talent strategies, join us for future sessions of Next Practices Weekly—where top HR leaders share actionable strategies to stay ahead in today’s dynamic workforce landscape.