The global labour workforce comprises 3.3 Billion workers out of which one of every six approximately 520 million are Indians. The pandemic had disrupted the public health, employment, and livelihoods of the population, the Governments, labour, and business organizations around the world have acted quickly to address the problem, preserve jobs, and protect incomes.
Indian Economy showcased resilience & hope after being severely impacted by the lockdown, the Indian job market improved significantly after registering a drop of 60% in the first wave of covid. Industries are gradually seeing an increase in job postings and hiring. IT hardware, software, e-commerce, banking, and financial services are among the businesses that have experienced the most hiring boom. After the second wave of the pandemic, the job situation in India is shifting Remote Work is becoming the norm, HR & panelists are geeting comfortable judging the candidates for emotional & technical fit virtually.
Placements across India:
The importance of placements in any institute’s educational success is recognized throughout the world. The virtual placements thought to be a hurdle has yielded better results for various institutes, this year’s placement data indicates an increase in offers. Research & Consulting, Technology, and the Financial Services industry (BFSI) continue to outperform other industries in terms of institute placements.
In Business schools across India, placements have evolved into an important component of an institute’s curriculum. The recruiting situation may have been disturbed in the past owing to the epidemic, but as the economy has begun to recover, company hirings have gradually increased. India’s management school graduates have reached a record high in terms of job placements in early months. Despite difficult economic situations last year, the employers honoured many of their employment promises to management graduates strenghthening the relation between the corporate & the B-school’s
B-schools provide businesses top-tier talent that they may mentor in areas such as cutting-edge strategy, consultancy, and technology. As a result, the candidates’ ability to develop futuristic solutions for their clients improves. Companies look for sharp, versatile, quick-thinking employees who can help develop the company’s customer/client base, which is exactly what they will find in a management institute.
According to data compiled by the All India Council for Technical Education (AICTE), India’s professional education body, management institutions reported a 23 per cent reduction in placements in the academic year 2020-21 compared to 2019-20, but for the ongoing season, 2021-22 the situation has significantly improved.
PLACEMENTS AT LBSIM:
The LBSIM Placement Season began virtually. The placement cell organised preparatory activities in collaboration with external vendors as well as internal faculty & distinguished alumni to better prepare students. Every academic institute is responsible for ensuring that students are fully prepared for the corporate world, and the team at LBSIM takes every required step to train and guide the students. On this bustling campus, students were exposed to difficult and research-based academics, as well as a variety of sports, cultural and organisational activities.
The outreach efforsts began in July and August as the Placement Cell reached out to company representatives pan india to discuss their job opportunities.The Pre-Placement Talks (PPT) and companies conducted initial screening before the interviews. On the first day of campus placements, some of the world’s largest corporations offered coveted positions across the country & the world.
With 224 students participating in the placement process, LBSIM is witnessing one of the fastest paced seasons with the highest number of offers till November from companies covering all major domains like Finance, Research & Consultancy, Sales & Marketing, Human Resource and Operations. The Institute was delighted to add multiple new organsiations to the eminent recruiters portfolio.
THE ROAD AHEAD:
The placements scenario across institutes is showing positive signs and points out to major shift where in the Startup space is vibrant due to high investor interest, SaaS is a rapidly growing space with many organisations reaching out to various B-Schools to hire talent. Research & Consultancy firms are hiring for diversified roles to meet the new detailed requirements of the clients across the globe. Engineering & Durables companies are smoothening their logistics to improve efficiency overall & thereby witnessing increased opportunities in operations. IT & ITES sector is seeing an unprecedented spurt in demand for new products as well as services to build the new remote working world addressing security & infrastructure concerns leading to hirings in management & strategic roles predicting the needs for the future. The future looks bright for the industry as well as the economy supported by young minds trained by the best mentors creating , continuing & cementing change & development. For the past two years, the hiring is being conducted virtually by large corporates. The upliftment of the lockdown across the nation hasn’t affected this trend of the organizations preferring to hire through the virtual mode.
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