In the midst of preparing for final placements for the Class of 2024, engineering colleges find themselves navigating through an increasingly challenging landscape overshadowed by a notable tech downturn. This downturn has cast its shadow in the form of major recruiters exercising caution and scaling back on their hiring initiatives. Esteemed institutions like Delhi Technological University (DTU), NIT Calicut, NIT Jalandhar, NIT Hamirpur, and Vellore Institute of Technology (VIT) have shared their apprehensions, acknowledging the anticipated impact on the forthcoming campus hiring season. The potential ramifications are significant, with projections indicating a potential dip in hiring numbers ranging from 20% to 30%.
As these educational institutions brace for what lies ahead, they are confronted with the task of equipping their graduates with not only technical prowess but also the resilience to navigate a shifting job market. The prevailing uncertainty underscores the importance of adaptability and the cultivation of a diverse skill set among students, transcending the conventional boundaries of engineering disciplines. Amidst these challenges, colleges are compelled to explore innovative approaches to foster connections between students and potential employers, ensuring that opportunities for valuable industry exposure endure despite the prevailing headwinds.
As the spectre of diminished offers from tech, information technology (IT), and IT-enabled services (ITeS) firms looms over the placement landscape, educational institutions are orchestrating proactive strategies to mitigate the potential fallout. Recognizing the need to diversify their recruitment avenues, colleges are expanding their outreach to encompass a wider array of recruiters, encompassing domains such as core engineering, manufacturing, and global capability centres (GCCs). Leveraging the power of their alumni networks, these institutions are collaborating with industry veterans to provide students with specialized training in niche skills and bolster their repertoire of soft skills – both pivotal for thriving in a dynamic job market. Moreover, colleges are embarking on a novel approach by rekindling conversations with students who previously declined pre-placement offers, urging them to reconsider in a bid to bolster placement figures and minimize the impending impact.
“In this ever-evolving landscape, students must root themselves in reality, understanding the dynamics of the market rather than fixating solely on hefty salary packages,” emphasized Praveen Sankaran, Chairperson of the Centre for Career Development at NIT Calicut.
NIT Calicut has adroitly adopted an early placement strategy, allocating prime slots to core engineering enterprises that exhibit robust hiring numbers, even though their compensation packages may not rival those of tech giants. The institute’s approach further involves diversifying its pool of recruiters, with a concerted effort to forge connections with Global Capability Centres (GCCs) and burgeoning startups specializing in domains like analytics and drones.
Across the educational spectrum, institutions are proactively extending their reach to engage with a diverse array of recruiters.
“As we navigate these waters, our focus has intensified on engaging with more GCCs to offset the potential void left by reductions in offers from IT services firms,” affirmed V Samuel Rajkumar, Director of the Career Development Centre at VIT.
Commencing its final placement drive in July, VIT has already hosted visits from a cadre of 30 companies, culminating in an impressive tally of over 380 students securing job offers.
Meanwhile, at NIT Jalandhar, where a substantial cohort of more than 1,200 students is participating in the placement process, Ajay Gupta, the head of Training and Placement, foresees a potential 25% contraction in recruitment within the tech/IT/ITeS/startup sectors. To counteract this challenge, the institute is actively broadening its outreach to encompass an extended roster of companies. Leveraging the strength of its well-positioned alumni network, NIT Jalandhar is tapping into their connections to usher in novel recruiters and opportunities.
Embracing a parallel approach, NIT Hamirpur is navigating a comparable trajectory. Acknowledging the tempered pace of recruitment in the IT sector, an institute spokesperson conveyed optimism that progress will be realized as time advances. The institute’s multifaceted strategy involves harnessing an extensive range of resources to establish as many connections as feasible, with concerted efforts invested in proactive engagement with potential recruiters.
Embracing Niche Roles: A Strategic Shift Amidst Changing Recruitment Landscape
As the recruitment landscape evolves, certain institutions are directing their efforts toward enhancing the skill sets of their students, aligning with the increasing demand for specialized positions in fields such as technology, artificial intelligence (AI), and machine learning (ML).
Delhi Technological University (DTU), as an illustrative case, has taken proactive measures to foster this upskilling endeavor. The university has embarked on a concerted initiative to engage domain experts spanning diverse disciplines, thereby facilitating the cultivation of both technical and soft skills among students. In addition, DTU is actively guiding students towards relevant platforms for self-driven upskilling and augmenting their expertise. To bolster this endeavor, the institution has even instituted comprehensive training programs, demonstrating its commitment to empowering students with the competencies required to thrive in the ever-evolving professional landscape.
A prime example of this strategic adaptation can be observed at DTU, where an array of measures has been set in motion. The university is actively engaging specialists spanning various domains to impart crucial technological and soft skills to their students. Moreover, DTU is proactively steering students towards pertinent platforms that enable self-driven upskilling initiatives. To further bolster this initiative, the institution has initiated comprehensive training programs, underscoring its dedication to equipping students with the prowess demanded by the swiftly changing professional arena.
Rajesh Rohilla, the Head of Training and Placement at DTU, noted that the current climate has engendered uncertainty among recruiters, with many grappling with indefinite plans for their campus hiring strategies. In response to this evolving landscape, certain recruiters have taken the step of deferring their hiring intentions, adding an additional layer of complexity to the ongoing recruitment process.
In a glimmer of optimism, he articulated a hopeful outlook, speculating that the recruitment landscape might witness improvements in the fourth quarter, potentially steering the requirements in a more favorable direction.
Similarly, NIT Calicut is adopting a proactive approach to student preparation. The institute has implemented a standardized testing process through external agencies, thereby gauging students’ aptitude scores. This insightful evaluation equips students with a clear understanding of their strengths and areas that warrant enhancement. Armed with this data-driven knowledge, students are better positioned to strategically refine their skills and address specific areas that require refinement, ultimately bolstering their prospects in the competitive job market.
Anticipating a positive trajectory, the sentiment remains cautiously optimistic about the upcoming months. Sankaran remarked, “While the atmosphere is enveloped in uncertainty, we’ve yet to encounter any instances of complete refusal from companies.” He highlighted that although some companies have chosen to defer their hiring plans, there is a collective aspiration that the landscape will improve in the latter half of the year. However, he emphasized the importance for students to exercise prudence in their decisions, navigating the evolving circumstances with discernment.
Looking ahead, VIT’s Rajkumar envisions a clearer picture emerging for companies’ campus hiring projections in the early months of the next calendar year. He noted that this temporal milestone will likely coincide with a moderation of global economic pressures, creating a more stabilized environment for hiring activities. The measured expectation is that as the economic climate attains greater equilibrium, recruitment patterns will be influenced accordingly, potentially shaping a more conducive environment for aspiring graduates.
All companies that have not come till now may start hiring from early next year, Rajkumar said.
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