Campus hiring amidst a recession?
Business expansion plans are afoot to rope in fresh talent from top educational institutions across the country. Tech and Retail Giants & startups like Abacus AI, Ather Energy, Razorpay, Zomato, Slice, Zupee, Meesho are aggressively moving ahead with campus recruitment. With college internships and exams coming to an end, employers are able to gauge the potential of students and the institutions they hail from. Companies are visiting campuses depending on their preferences and requirements. While informing the media about their recruitment plans, a Flipkart spokesperson mentioned about their hiring visits to business schools and engineering campuses across the country, including IIT Bombay, Delhi, Madras, Kanpur, BHU (Varanasi), Roorkee, Hyderabad, and Guwahati.”
This reflects that a huge pool of opportunities is unfolding for the future professionals while the rest of the workforce is still taking precautions against the potential financial crisis and a new warning about COVID again. Amidst panicked markets, upskilling has gained higher importance. Upskilling being the need of the hour, students have started securing their future by taking up higher courses abroad.
Brain Drain or Brain Gain?
To set the context, the number of students traveling abroad has risen dramatically in the year 2022. As per recent statistics, the number of student immigrants is the highest in the last 5 years. The count has gone up to a booming six-digit figure of 6,48,678 in India, amounting to a growth of 137% compared to last year. Countries like the UK and Canada have the highest number of student immigrants from India, currently.
In this backdrop, campus hiring has always been a great method for sourcing fresh talent. This type of recruitment adds a set of tech-savvy and curious learners, eventually further strengthening a company’s diversity and thought process too. They infuse the workplace with fresh energy which opens up learning opportunities even for existing resources and helps businesses profit from it. As per a survey there has been 56.1% intern to employee conversion rate. They also come at a lesser package compared to the existing professionals in the market.
Campus Hiring on the Rise
Even as many Indian students are migrating abroad following a gap due to COVID & the following lockdowns, organizations are showing interest in choosing talent from campuses. This growth curve will be a crucial element that will eventually contribute to the growth of the Indian economy by utilizing India’s demographic dividend advantage.
(Author: Alisha Fernandes is an inquisitive learner & content writer at TechDoQuest)