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Fresh graduates to be left hunting, as firms play safe
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Fresh graduates to be left hunting, as firms play safe
Education is like holding a passport in the pursuit of a career the visa is provided to those who have exhibited their aptitude, attitude and communication.
We see about 4.9 lakh technical graduates, 23 lakh graduates and 3 lakh post graduates passing out of education institutions across the country. This time all the major companies have put a cap on recruitment or reduced the number of intakes. It is going to be tough time for colleges which promises placements as well as students who pass out of colleges find employment. Earlier IT companies were entering every college for recruitment and this time it is estimated that 60 per cent to 90 per cent of companies are planning to keep away from campus recruitment.
Education is like holding a passport in the pursuit of a career the visa is provided to those who have exhibited their aptitude, attitude and communication. Viewing these as two separate requirements is key to our graduates in their pursuit of a career. Both parents and students are of the opinion that getting into a college means getting out with a job. There are about 3 lakh engineering graduates passing out every year the sheer size of the talent pool means companies have a sizable number to choose from and hence they are obviously going to be choosy. So students have to be so much more well-rounded (both academically and from an employability perspective) to stand out.
The past few years there has been enough said and written about Employability Gaps and the dearth of good talent IT Talent Crunch – Need is 350,000; Available (Employable) is 150,000”.
There is a “Shortfall by 2010 is 0.5 Million only in IT”
Graduates need to realise that graduating from a college does not necessarily assure them of a job hence in today’s competitive environment they should actively participate or seek out ways of developing their employability skills.
Incompetent supply
The talent suppliers (colleges and universities) and talent consumers (companies) globally have this challenge where the supply does not meet the specifications of the demand, and in the case of India it is even more pronounced. For two reasons the sheer volume of the supply leaves a large number of students, especially those who are just on the verge of graduating behind and in today’s frenzied need for talent, companies are looking for talent that is quickly productive. Collaboration between academia and industry is needed to achieve this and leveraging technology to deliver this would be a quick win for both. Creating online learning platforms to deliver such training would make it scalable as the barriers of time and distance are removed.
The news today however is very depressing and it has been a complete turnaround when compared to the past few years in the campus recruitment scenario. Campus placement officers are in the dark about what would transpire this year and most are at odds to come out with solutions to meet the career needs of students.
The placement departments we have interacted provided responses that are varied in nature some with a positive tone all the way to a very despondent negative outlook towards placement activity.
This range of feedback can also be attributed to the history of placement results at the college. Colleges with a successful track record are undertaking new initiatives while those with below average placement record have taken a very negative approach.
Initiatives undertaken by Colleges include:
1) Invest more in training so as to make the students better than competition
2) Double the number of corporate invited so that a decent number would visit the campus
3) Expand the corporate portfolio to include Small, Medium, and Large companies. Small companies could be startups who are in certain niche areas and would be of interest to students
4) Our interaction with a range of companies small, medium, and large has resulted in gathering different challenges that each faces with regards to campus hiring. However they have attributed a lot of positives to the campus recruits that they have brought on-board in the past.
5) Dependable Resource pool (Average Commitment of Service given by the Students to Organizations is 2 to 3 years, which is realized per campus candidate on an Average)
6) Tremendous & easy scope to groom them into Star performers (particularly when Training is done on Soft-skills, Behavioral, Aptitude & Technical before graduation
7) Ratio of Star performers Vs Average performers is Positive
8) All these advantages translate into Cost benefits to the Organisation
Source:
http://www.deccanherald.com/Content/Apr82009/avenues20090407128814.asp
We see about 4.9 lakh technical graduates, 23 lakh graduates and 3 lakh post graduates passing out of education institutions across the country. This time all the major companies have put a cap on recruitment or reduced the number of intakes. It is going to be tough time for colleges which promises placements as well as students who pass out of colleges find employment. Earlier IT companies were entering every college for recruitment and this time it is estimated that 60 per cent to 90 per cent of companies are planning to keep away from campus recruitment.
Education is like holding a passport in the pursuit of a career the visa is provided to those who have exhibited their aptitude, attitude and communication. Viewing these as two separate requirements is key to our graduates in their pursuit of a career. Both parents and students are of the opinion that getting into a college means getting out with a job. There are about 3 lakh engineering graduates passing out every year the sheer size of the talent pool means companies have a sizable number to choose from and hence they are obviously going to be choosy. So students have to be so much more well-rounded (both academically and from an employability perspective) to stand out.
The past few years there has been enough said and written about Employability Gaps and the dearth of good talent IT Talent Crunch – Need is 350,000; Available (Employable) is 150,000”.
There is a “Shortfall by 2010 is 0.5 Million only in IT”
Graduates need to realise that graduating from a college does not necessarily assure them of a job hence in today’s competitive environment they should actively participate or seek out ways of developing their employability skills.
Incompetent supply
The talent suppliers (colleges and universities) and talent consumers (companies) globally have this challenge where the supply does not meet the specifications of the demand, and in the case of India it is even more pronounced. For two reasons the sheer volume of the supply leaves a large number of students, especially those who are just on the verge of graduating behind and in today’s frenzied need for talent, companies are looking for talent that is quickly productive. Collaboration between academia and industry is needed to achieve this and leveraging technology to deliver this would be a quick win for both. Creating online learning platforms to deliver such training would make it scalable as the barriers of time and distance are removed.
The news today however is very depressing and it has been a complete turnaround when compared to the past few years in the campus recruitment scenario. Campus placement officers are in the dark about what would transpire this year and most are at odds to come out with solutions to meet the career needs of students.
The placement departments we have interacted provided responses that are varied in nature some with a positive tone all the way to a very despondent negative outlook towards placement activity.
This range of feedback can also be attributed to the history of placement results at the college. Colleges with a successful track record are undertaking new initiatives while those with below average placement record have taken a very negative approach.
Initiatives undertaken by Colleges include:
1) Invest more in training so as to make the students better than competition
2) Double the number of corporate invited so that a decent number would visit the campus
3) Expand the corporate portfolio to include Small, Medium, and Large companies. Small companies could be startups who are in certain niche areas and would be of interest to students
4) Our interaction with a range of companies small, medium, and large has resulted in gathering different challenges that each faces with regards to campus hiring. However they have attributed a lot of positives to the campus recruits that they have brought on-board in the past.
5) Dependable Resource pool (Average Commitment of Service given by the Students to Organizations is 2 to 3 years, which is realized per campus candidate on an Average)
6) Tremendous & easy scope to groom them into Star performers (particularly when Training is done on Soft-skills, Behavioral, Aptitude & Technical before graduation
7) Ratio of Star performers Vs Average performers is Positive
8) All these advantages translate into Cost benefits to the Organisation
Source:
http://www.deccanherald.com/Content/Apr82009/avenues20090407128814.asp