IIM-Indore to outsource placements

By Richha Bhatnagar

To streamline the whole placement process, Indian Institute of Management, Indore is planning to outsource its placements.

The Indian Institutes of Management is a leading brand in the education industry. It is a well-known brand and it can generate well-paying jobs for its prospective students year after year. As the placement season appears, some are being forced to apply out of the box tricks to invite recruiters to the campus. In the economic slowdown period, companies are cutting back on their hiring process.

Established in 1996, IIM Indore is the sixth member of the IIMs fraternity. It is planning to associate with placement agencies to ensure that all 450 students in the present batch receive placement offers from top companies. It has chalked out the whole plan with five placement agencies.

Director of IIM Indore, N Ravichandran said that the institute is trying its best in getting well-paying jobs to its students. Sunil Goel, director at Global Hunt India Pvt Ltd said that other institutes are also planning to follow the same pattern. Apart from IIM Indore, IIM Calcutta, and IIM Lucknow are also in the race and have also contacted various placement agencies. But IIM Calcutta and IIM Lucknow have denied the reports of taking help from external agencies for placements. (Read full report)

The final placement process at IIM Indore will begin from February, with about 60 companies. The 2011 batch had an average salary of about Rs 14 lakh in 2011, up 27% from the previous year's level of Rs 11 lakh.

Remuneration may get affected:

In 2009, IIM Indore had not taken the help of external agencies; it was the toughest year as followed by the economic slowdown of 2008. In that year, the batch size was 180 and the institute was able to place all. This year the outsourcing agencies will follow a similar pattern. As per the senior officials, 450 is the largest batch size and the average remuneration is likely to get affected.

This is because the placement season is coming to an end and both pay packages and job profiles will see a decline. These firms will help in bridging the gap for the last 100-150 students. The idea is to provide extravagant opportunities to students beyond the existing pool of recruiters.

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