Due to the Covid impact on the business sector, there is news of massive pay cuts and job losses and now fresh college graduates have been impacted as colleges in India are facing disruptions in their campus recruitments.
Most of the business and engineering colleges conduct campus recruitment every year between December and April. According to the latest survey one of India’s largest job-search platforms- Firstnaukri.com, only one- third of the students graduating this year have job offers due to massive hit to campus hiring.
The survey was conducted on over 1300 students across campuses in India to understand the impact and their sentiments about placements and internships amid the Covid crisis. The survey was conducted on students of all batches (2020 to 2023) across various courses. Almost 80% of the students are perusing BE/B.tech degree.
Sharad Sindwani, Business Head of Firstnaukri.com responded on the survey and said, “The pandemic has hit placement prospects of the 2020 batch across 82% colleges. It has further impacted internship offers of 74% pre-final year students.”
What is the Survey Revealing?
The situation is the same for all, though many students have been placed already while some are still struggling to find jobs. Due to the pandemic companies are deferring the offers made while some have withdrawn the offers already made.
According to the survey, In India, only one-third of the students have job offers in hand, and of those who have job offers, nearly 44% of students said that their joining dates have been delayed. While another 9% confirmed that their offers have been withdrawn by the companies as business cut down costs to keep up with the operations.
Even around 33% of students said that the employers are not responding to them on the status of their job offers.
As the companies are withdrawing job offers or not getting jobs, students have left with no option and many of the students are switching to online job portals in search of jobs. While another 17% of students are now taking referral routes and are connecting with their alumni networks.
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How Companies are Responding?
The companies are now postponing campus drives and are now looking and hiring those students who have technological skills and have prepped themselves for the future. For recruiting candidates from various campuses and for assessing their potential, the companies are now conducting video interviews and online assignments.
The report said, “It will be imperative for the students to start preparing for remote interviews as the new way of being getting hired.”
As the situation is not getting better many of the students are focusing on reskilling more than ever. Now the freshers have involved themselves in online courses and certifications to bridge their skill/ knowledge gap.
As per the report, more than 70% of the college students have already opted and enrolled themselves for the online courses.
Meanwhile, during the crisis, Tata Consultancy Services (TCS) plans to hire 40,000 fresh candidates from campuses across India. And other large companies and firms like Wipro, Google, HUL, ICICI Bank, Godrej, and many more are honoring job offers made to campus hires.