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5 lessons on smart hiring

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Student expectations are changing rapidly and companies need to reinvent their offerings to keep the right talent in the loop. And the pace is only accelerating, spurred by the growing popularity of engagement activities like recruiting challenges among MBA and engineering students. That’s what the survey says!

Here are some conclusions about the expectations of potential talent and how these expectations can be met. According to the Dare2Compete Campus Employer Branding Report 2022 (D2C CEBR), which is based on a survey of more than 12,870 MBA and engineering students, here are some lessons companies of all sizes can learn about tapping into the right talent pipeline by: less time and resources.

Lesson 1: Give students insight into your business through contests

When asked to rate the most preferred mode of engagement with the company, MBA and engineering students cited competitions of all kinds – case studies, quizzes, simulations, and more. as the most preferred activity, followed by job interviews.

In fact, 88% of B-schoolers and 86% of E-schoolers believe that participating in competitions helped them hone their skills and ultimately helped them get a better job/internship. It would not be wrong to interpret competitions as one of the most effective ways for students to gain insight into the world of organizations and land a job or an internship.

Related: 5 Essential Ingredients for Making a Smart Rental

Lesson 2: dig into direct job/internship offers

Speaking of expected rewards, Job/Internship Opportunities (PPO) from competitions and hackathons attract the most students across all fields, while Job/Internship Interview Opportunities (PPI for Final Interview ) come second.

Companies can consider this information to keep students engaged and motivated. Juspay Hiring Challenge 2021 is one of the best examples to illustrate this. It attracted 1,05,960 signups owing to its lucrative PPI reward with CTC worth INR 13-15 LPA.

Lesson 3: Be prepared to pay extra for competitors

The war to attract wealthy talent is definitely getting fierce. Here’s what the numbers say:

36% of B School respondents who passed the competitions won interview/placement opportunities above INR 24 LPA, and around 60% of them won a CTC of INR 15 LPA and above. To everyone’s surprise, 17.68% of respondents from School B packed packages above INR 30+ LPA.

The engineering landscape paints a similar picture. While 35.6% of online school respondents who passed the competitions won interview/placement opportunities above INR 10+ LPA, around 26% of students could secure positions with a CTC above 15 LPAs, closely followed by 23% above interview/placement opportunities. INR 18 LPA.

It can be safely summed up that it is high time for companies to attract the talent pool in time to get the best minds working for them, and they should expect to pay a premium for that talent.

Related: 4 Clever Moves To Win The Top Talent Contest

Lesson 4: Provide useful and specific details about open roles

Do you know what students consider before applying for a job? In this segment of the survey, job role/profile took the top spot in the B-School student category, followed by salary and benefits, company reputation and brand, professional growth and learning and work environment and culture.

In contrast, salary and benefits are the most alluring factor for online school students when it comes to attributes they consider before applying for a job, followed by role/profile offered and growth and professional learning.

An important element that companies can use to their advantage is to explicitly state what students are looking for – clear roles and profiles on offer. This may seem like the most obvious thing, but companies often overcomplicate it.

Lesson 5: Invite experienced people to talk about their journey

A majority of B-schoolers (81%) and engineering students (77%) prefer only one or two interactions with the company to better understand it before choosing their future employers. And in those interactions, students at School B place immense importance on interactions with employees who started at the entry level and built a career at that company.

On the other hand, engineering students prefer to interact with the campus recruiter (HR) rather than with current interns/students and alumni. Students’ first interaction with companies as future employers can be a turning point. To build a common understanding and ensure this is the student’s primary consideration when applying for a job, they need to have experienced people talk about their background, goals, and vision.

With Millennials and Generation Z occupying the bulk of the workforce, the coming years will be disruptive for engagement programs and campus hiring. Considering student voice when organizing your next recruitment round will do the trick. Get ready for the students!

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