3 out of 5 college students select job safety over pay hikes. (Consultant picture)
The looming worry of layoffs has prompted three out of 5 (60%) college students to prioritise job safety over pay hikes,
A excessive majority (81%) of HR professionals agreed that their organisations are actively hiring, highlighting the strong demand for expertise throughout industries. Curiously, 88% of HR practitioners expressed a powerful desire for skill-based hiring, prioritising candidates’ skills over different elements akin to previous expertise, lecturers, references, internships, and initiatives.
Unstop, the expertise discovery, engagement and hiring platform for college kids and graduates, has launched its annual Unstop Expertise Report 2024. The report shared insights and developments concerning the hiring and expertise state of affairs in India.
The findings are based mostly on responses gathered from a survey involving over 11,000 college students, college companions, and human useful resource practitioners throughout the nation.
Further insights have been additionally gathered by way of conversations with HR leaders which divulged their views on worker wishes, the function of mentorship, competitors, and extra.
Key findings of the report;
Notably, the looming worry of layoffs has prompted three out of 5 (60%) college students to prioritise job safety over pay hikes, a stark shift in mindset. For many of them, in-hand wage remained essentially the most invaluable wage element, adopted by perks and advantages.
Unstop’s report additionally delved into the school/college panorama. It revealed a drop from the earlier 12 months to 10% of scholars all for working for startups, with 45% of B-school college students preferring established and legacy companies.
As compared, 52% of engineering college students expressed openness to working with any firm. Additional, advertising and marketing emerged as the highest most well-liked area for B-school college students, whereas Finance and Analytics topped the listing for Arts and Science college students.
In E-Colleges most women and men obtained the identical common provide, however there was a stark distinction amongst Arts and Science college students. Right here, a lot of the males obtained a proposal of Rs 6-10 LPA. Most girls, nonetheless, obtained a proposal of Rs 2-5 LPA – half of the provide bagged by male college students. In B-Faculty, 55% of males obtained a proposal of over Rs 16 LPA, however solely 45% of ladies obtained a proposal above Rs 16 LPA.
Lastly, concerning the perceptions of recruiters, college companions (Coaching and Placement Officers) and college students, the report revealed a notable disconnect between the events.
Whereas 91% of scholars imagine their school curricula provide an satisfactory degree of preparedness for a job, 66% of recruiters and 42% of college companions really feel the talent hole and lack of preparation, respectively, are main challenges in campus recruitment.
Ankit Aggarwal, founder and CEO, Unstop, mentioned, “The Unstop Expertise Report 2024 gives a complete snapshot of the expertise panorama in India, providing invaluable insights for each employers and job seekers. By highlighting the preferences and issues of scholars and HR professionals, we purpose to bridge the hole between expertise provide and demand, enabling extra knowledgeable decision-making and fostering a extra environment friendly and efficient hiring course of.”
