The placement season in the elite technical and management institutes of India is affected by the conditions raised by the COVID-19 pandemic. Final year students at IITs and IIMs are uncertain about the job commitments amid lockdown.
While some companies have put forward options like virtual on boarding and shifting of foreign jobs to Indian locations temporarily, some companies are still dwelling in the air of uncertainty.
According to placement officials at IITs and IIMs, companies are looking at plans to postpone the joining dates, cut-short salaries, and even in worst conditions rescind job offers. Till now, one company that has revoked job offers at IITs and IIMs is known out to be the leading US-based research firm Gartner.
IITs and IIMs have written to Gartner regarding the reconsideration of their decision but have not received any confirmed reply. The institutes are therefore working on backup plans to avoid any miseries to students in the future.
IIMs, on the other hand, are facing similar situations. So far, most of the recruiters have assured that they will not revoke any job offers. U Dinesh Kumar, chair, career development services, IIM Bangalore, said that some companies have agreed to courier laptops across when the lockdown lifts even after having data privacy issues.
Also, some consulting firms are asked for services for the students who feel insecure regarding their placements amid lockdown. Most companies are reworking on their hiring plans looking at the hindrances to the placement season posed by the coronavirus pandemic.
A solution that most companies have come up with is virtual hiring. Many BFSI firms have therefore moved their positions back to India on a temporary basis.
There could be a significant delay in the process, keeping in mind the economic and business instability caused to companies, said a placement convener at IIM Indore. According to sources, Students are expecting more companies to revoke job offers after Gartner did the deed.
“There may be no dramatic shift in the placements that already took place, and some jobs may be deferred.
The future dwells in the uncertainty of shrinking jobs as well,” said IM Kozhikode director Debashis Chatterjee. “Companies have asked for some time so that required alterations can be made, but they are firm in their decisions of honoring the job offers,” said Amit Karna, chair of placements committee at IIM Ahmedabad.
Apart from IIMs like IIM Kozhikode, other IITs are also planning for some special placement drives during July and August for students who may have the job offers being revoked. Old IITs having a strong alumni network are trying to reach the passed-out scholars in order to stabilize placement conditions for the students whose job offers are revoked by the companies.
IIT Madras is trying to place the students at some other firms whose job offers were rescinded by their respective companies.
Dr. V Ramgopal Rao, Director IIT Delhi, posted on LinkedIn requesting companies to reconsider their decisions while rescinding job offers.