- HirePro Report reveals diverse viewpoints in Indian campus hiring landscape
- 71% of students feel CGPA is inadequate for job evaluation but corporates continue to prioritise academic record
- 70% of academia V/S 16% of corporates believe graduates are industry-ready
- 67% of students expressed interest in entrepreneurship either immediately or post some work experience, but 60% of corporates are interested in job seekers only
- While colleges have taken “baby steps” in making students AI-ready, over half of India Inc. expects Gen-AI ready candidates in campus placementsÂ
Bengaluru, 09, August 2024: HirePro, an AI-powered recruitment automation firm, has released its latest market study titled “Momentum ’24: The New Reality in College Hiring.” The comprehensive report, based on extensive research, including surveys of over 20,000 candidates, 350+ colleges, and 200+ corporates, along with interviews with 100+ campus talent recruiters, uncovers crucial insights into the evolving dynamics between students, academia, and corporates in the Indian campus hiring ecosystem.
One of the most striking findings is the significant gap in perception regarding the industry readiness of graduates. While 70% of academic institutions believe their graduates are well-equipped (at least 60% ready) for the corporate world from day one, only 16% of corporates share this view. This disparity highlights a persistent challenge in aligning academic curricula with industry expectations.
The report also reveals a shift in how students view their academic performance in relation to job prospects. A substantial 71% of students believe that CGPA alone is insufficient for evaluating their capabilities during placements and that prioritising technical skills is required. This sentiment contrasts sharply with the practices of academia and corporates, who continue to rely heavily on academic performance as a primary criterion for candidate shortlisting.
Entrepreneurship emerges as a significant trend among Indian students, with 67% of them planning to start their own businesses within ten years of graduation. However, this entrepreneurial spirit is not fully embraced by all stakeholders. While colleges are increasingly offering courses and setting up incubation centres to support this trend, 63% still prefer their students to focus on securing corporate jobs after graduation. Similarly, only 5% of corporates prefer to hire candidates with entrepreneurial ambitions, perhaps worried about attrition. This is despite the fact that most corporates try to promote entrepreneurship among their employees (intrapreneurs) by providing platforms, attractive incentives, and occasional funding.
The impact of AI on future jobs is another area of focus of this study. It reveals a positive consensus among students, academia, and corporates that AI will generate more job opportunities in the future. Notably, over half of the companies now expect candidates to be Gen-AI ready during placements, underscoring the growing importance of AI skills in the job market.
A majority of students still view internships as an opportunity to learn the real-world nuances of what they study in classrooms, with 68% of students willing to relocate for quality opportunities. While 70% of students prefer in-person experiences if given an option, corporates strictly oppose newer models like remote and off-college hours internships.
The study also sheds light on the mixed reactions to the NEP 2020 initiative allowing year-long breaks from studies. While 59% of students strongly support this idea, only 30% of academia and a mere 16% of corporates are in favour, highlighting the need for better alignment between policy, education, and industry needs.
Commenting on the report, S. Pasupathi, Chief Operating Officer, HirePro, said, “Our findings highlight the need for greater collaboration and understanding between corporates, academia, and students. Cautious optimism is the overarching sentiment because we are no longer operating in a homogeneous market. Industries are changing, economies are dynamic, students’ profiles are evolving, and so are the requirements. It’s crucial for all stakeholders to adapt their approaches and fill in the expectation gaps.”
