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6 n e w h a v e n B I Z | F e b r u a r y 2 0 2 2 | n e w h a v e n b i z . c o m By Matthew Broderick T he state's labor shortage has been well-documented in recent months, with employers in myriad industries looking to fill open positions amid a still-on- going pandemic. Milford-based staffing agency Aquinas Consulting has seen first- hand employers' struggles in finding qualified talent. It's also been actively searching for its own new employees. In the past two years, the company has added 50 new jobs and plans to hire an additional 30 positions over the next 12 months, according to Tom Mercaldo, Aquinas' president who co-founded the firm with Haruthay "Pam" Rasmidatta in 2000. Aquinas' growth has attracted the attention of the state, which recent- ly agreed to provide the company a $150,000 grant, once it hits its planned hiring target. Mercaldo said he is bullish about his firm hitting that goal. Aquinas currently employs 200 people and has expanded over the past 20 years from its Milford headquarters to serve clients in 23 states — oen fueled, he said, by Connecticut-based companies with staffing needs in other locations across the country. e increase in his own staff has been driven by greater demand in Connecticut's key growth sectors — information technology, aerospace, manufacturing, life sciences and financial services — where Aquinas Consulting specializes. Despite the boom in business that helped Aquinas generate $26 million in revenue in 2021, Mercaldo said his clients still face headwinds in finding talent — including trained staff to fill in-demand jobs — and from the increased costs of doing business in the state. He noted that Connecticut's min- imum wage will increase to $15 per hour next year, which will be more easily absorbed in some industries and parts of the state, than others. As an example, he pointed to a manufacturing client that has 80 percent of its workers earning minimum wage. "When you bump the mini- mum wage 36% from $11 [in Oct. 2019] to $15 [by June 2023], some companies need to consider moving produc- tion overseas or to other states to be able to compete in the global marketplace," Mercaldo said. "It's better to have a minimum-wage job than no job and I fear we are making Connecticut un- competitive in certain industries." And it's not just the impact on Connecticut's smaller companies that concern Rasmidatta, Aquinas' CEO and co-founder; it's the departure of corporate giants like General Electric to neighboring states, too. "When companies move out of state, it has a [ripple] effect on [staff- ing] companies," Rasmidatta said. "Tax policies play a big role in these [types of company] decisions so [it's important] to keep taxes lower and remain competitive." Mercaldo said in recent years the relocation out of Connecticut of four large clients — including GE — has cost Aquinas about $8 million in revenue. But it has been able to recoup about 60 percent of that lost business through its 80-company client base, particularly as demand for workers has spiked over the last year. Despite the challenges, both Mercal- do and Rasmidatta said that con- necting people to work opportunities to improve their lives remains their passion. "To help place people into a job that they are happy with … and to help clients find qualified people to work for them … is very rewarding," said Rasmidatta. Complex skill sets Since its founding, Aquinas has placed more than 3,000 people in jobs, including more than 400 last year. While the firm helps fill roles at all levels, it focuses primarily on mid-lev- el professionals. at requires an in-depth knowl- edge of the industries it serves and trained recruiters, Mercaldo said. He said the company's rotational-based leadership development program ex- poses his employees to all facets of the staffing business. "We're looking to fill very complex skill sets, so [we] really need to un- derstand our customers' businesses," Mercaldo said. "If I can place four or five out of 100 candidates in jobs in the next 30 days, that's success." e current — and likely continuing trend of remote work — has present- ed dual challenges for staffing firms, Mercaldo said. "If people aren't working in our of- fice, it's more difficult for us to provide quality assurance for the work they're doing," he said, noting the in-house roles his company is looking to fill include recruiters, account managers and customer service representatives. "And it's more difficult to train [new] people in a remote working environ- ment." Additionally, competition in the space is growing as online recruitment and overseas production services have increased, putting pressure on fees and profit margins. Mercaldo said the cost Aquinas charges is typically based on a fixed percentage (usually 20 percent) of a recruit's annual salary. And he said he's invested much of that revenue back into the business over the past two decades to keep it growing. "is industry is part of my calling in life," he said. "To help people get jobs that are going to improve their lives." n As it helps others recruit talent, Aquinas Consulting is on its own hiring spree B i z S p o t l i g h t A t A G l a n c e Company: Aquinas Consulting Industry: Staffing consultant Top Executive: Haruthay Rasmidatta, CEO HQ: 601 Boston Post Road, Milford Company Website: https:// aquinasconsulting.com/ Phone Number: 203-876-7822 Aquinas has added 50 new jobs over the past two years as demand for recruiting services increased. Haruthay "Pam" Rasmidatta Tom Mercaldo Aquinas Consulting helps companies find mid-level professionals but it's also looking to add a few dozen jobs internally. PHOTO | CONTRIBUTED PHOTO | CONTRIBUTED

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