(Edit : Team InsideIIM's analysis on the new process to be published soon. We sent a few questions to the IIM Calcutta Placement cell for clarification on certain rules. Find the questions and the responses from IIM C below the press release.)
IIM Calcutta to use “Functional Preferences” placement process to support student preferences
Students can now opt for multiple offers as the institute shifts focus from spot offers
IIM Calcutta has conceptualized a new “Functional Preferences” placement system for the upcoming summer placements beginning this November 2012. This change is expected to bring in more order and opportunities into the placement system by introducing a better method of handling student preferences.
The institute has decided to shift from its earlier process in order to make the entire affair less stressful and give the students more time to evaluate the various alternatives at their disposal. Placements at IIM Calcutta have generally been a four to five day long affair with dozens of companies hiring every day. Students are allowed to accept only one offer, which usually gives them very little leeway regarding which firm they wish to join. The new process will be slightly more drawn out so that students do not have to compromise on their preferences. As per the new rules, a student can receive multiple offers on the same day, and choose the best out of them. Thus, the placement process is shifting from spot offer system to multiple offer system for summer placements.
Day Break
The concept of a day-long break has been introduced to serve as a respite for the students. It will be a break with only group discussions happening on that particular day. Companies with their interview process on the next few days will conduct their group discussion rounds on this day. The advantage of introducing this day-long gap is that the students are given some time to evaluate the choices they have at their disposal and take informed decisions accordingly, hence making the entire process a little less stressful.
Functional Preferences
The new system has introduced the concept of a preferred function – the dream function of work for a student.
Students now have an option to accept multiple offers on the same day. Even if a student gets an offer from a firm, he can still attend other interviews, thus giving him more alternatives to choose from. This becomes important when companies of a particular sector attend the process later in the day and students choose another firm out of peer pressure. The new system is believed to be beneficial for both companies and students, as the students undergo lesser pressure during the process and make better decisions.
The institute has been in talks with the industry for some time now and has implemented the changes after due consideration. The recruiters are optimistic about the new process.
“We believe the current process is a little too stressful and at times leads to a herd mentality. Out of peer pressure, the students tend to accept the first offer they receive, without much regard for the role offered or the sector where their interests lie. We believe the new system grants the students time to evaluate their options and make the right call. This helps them get the right job, and not just any job. The companies are also able to select the best candidates from the available pool,” says IIM C Placement Chairperson, Krishanu Rakshit.
The summer placements begin on 5
th November 2012.
Results of the InsideIIM Recruitment Survey 2012
After reading the above press release, questions were sent to IIM Calcutta Placement Cell and External Relations Cell for a response. Please find responses in below each question :
1) Can the choice be made only from the companies in a function declared as the dream function by the student?
Response : Yes, our aim is to make sure a candidate gets into his preferred function.
2) Is the placement process now divided functionally? Will companies from the same sector recruit in the same slot?
Response : Since we have a functional preference system, it doesn’t make sense to call all companies of the same function together. We slot companies according to the sectors and not functions.
3) Have companies agreed to spread the recruitment over 3 days by having a GD on Day 1, with a day's break and then interviews on Day 3? Is our understanding correct?
Response : No, the recruitment process is divided over 2 days. The GD day is the day break. Also, we are planning to keep a relatively free afternoon from the previous day.
4) Does it mean there could be companies which return empty handed if all the students who they make offers to choose another company?
Response : Yes, it could happen.
5) How long do you see the placement process panning out in this case?
Response : We can’t comment on that right now, but we have more than 200 companies lined up for summer placements.
As told to us by Somesh Kamra from the IIM Calcutta Placement Committee.
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