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Amid the scare of growth rates going sour and a slowdown crippling the economy, new hiring trends have emerged from the placement season at B-schools, across the country
Neha Sharma-Sara
As the placement season started for business management graduates of the year 2009, there were doomsday theories that prophesised a low point in campus hiring; one that would seem starker when compared to the previous years of guts and glory at B-schools. However, as the overall picture emerges, there have been departures from the past, some unusual hiring trends, unexpected visitors and ‘correction’ in compensation but not the bloodbath that was predicted.
Experts point out that while many students still await placements, the initial signs are very encouraging. Premiere institutes like IIM - Calcutta, XLRI – Bubhaneshwar, IIM – Bangalore reported 100 per cent placements, while still others like ISB, Hyderabad and IIPM, Delhi, claimed that the placement process will continue till the last of their students were placed. “We have a body of 88 people, who work round the year on placements, some of them typically target the UAE, South East and European market. Our placement ‘season’ starts in December and ends in May. Last year, we got 600 companies on campus, but this year, some of our biggest recruiters, ADAG, ICICI, HDFC Bank, etc. were recruiting far fewer people. So, we realised that we need many more companies, because so far, we relied heavily on a few companies picking up huge numbers. So, we revamped our placement team and added more people to it, and decided to target atleast 750-800 companies this year. Last year, our international placements were 165. But this year, keeping the situation in mind, we are hoping to touch 100,” says Arindam Chaudhari, dean, IIPM. “ISB approached Public Sector Units (PSUs), national banks, entrepreneurial ventures, etc,” explains Bhuvana Ramalingam, senior director, communications at ISB. Rohan Mahajan, external relations secretary, IIM Calcutta adds that this year, in particular, PSUs and other good but lower paying jobs, were more aggressively pursued, to keep up with the times. XLRI, Bubhaneshwar also reiterated the trend of increased visibility of PSUs and attributed it to the 6th Pay Commission. Suvid Anand, secretary, placement committee explains, “The distinct element in recruitments, this season, was the active participation of PSUs.”
A freeze on hiring during a downturn is often necessary to ensure a company’s current profitability and future competitiveness. Counteracting these tendencies requires creativity, which B-Schools are showing by using the recession mantra of doing more with less, but doing it better.
Prof. Arindam Chaudhuri, IIPM Dean shares his inputs on the trends that are bound to catch up, during the placement season:
How different has the placement process been this year?
Most B-schools are inviting more companies to visit their campus; the placement time has been stretched. In our case, we have a larger placement team; we went to Tier 2 and 3 towns. We approached SMEs. Our mentoring programme was much more rigorous this year. We’re expecting almost 750 companies to visit by the time our placement season is over.
Are there any key trends that you have noticed?
The banks haven’t really stopped hiring. Insurance companies were as big as last year. IT companies are still visiting campuses across the country. The manufacturing sector has been a huge support and the SMEs have proved to be a boon for students.
Were there any surprises?
Some companies that are firing at the mid and higher levels are hiring at the entry level. Also, it was surprising to note that international companies in the service sector hired despite the slowdown, to prepare for economic recovery.
Lessons from the frontier
Whether in recession or not, one should make a career choice and not a ‘job’ choice. Career choices call for a long-term perspective. The industry one wants to work in, or the function one wants to choose should be given priority instead of salary figures.
Network tactfully.
Clearly articulate your value. The interviews will go much better when the person hiring can clearly see what your experience could do for them.
source -- Times of India
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posted by The Professor @ 2:01 PM
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