3 out of 5 college students select job safety over pay hikes. (Representative picture)
The looming concern 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. Interestingly, 88% of HR practitioners expressed a powerful choice for talent-based mostly hiring, prioritising candidates’ talents over different elements reminiscent of previous expertise, lecturers, references, internships, and tasks.
Unstop, the expertise discovery, engagement and hiring platform for college students and graduates, has launched its annual Unstop Talent Report 2024. The report shared insights and developments in regards to 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.
Additional insights had 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 concern of layoffs has prompted three out of 5 (60%) college students to prioritise job safety over pay hikes, a stark shift in mindset. For most of them, in-hand wage remained essentially the most useful wage part, adopted by perks and advantages.
Unstop’s report additionally delved into the faculty/college panorama. It revealed a drop from the earlier yr to 10% of scholars concerned with working for startups, with 45% of B-college college students preferring established and legacy corporations.
In comparability, 52% of engineering college students expressed openness to working with any firm. Further, advertising emerged as the highest most well-liked area for B-college college students, whereas Finance and Analytics topped the listing for Arts and Science college students.
In E-Schools most women and men obtained the identical common provide, however there was a stark distinction amongst Arts and Science college students. Here, many 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-School, 55% of males obtained a proposal of over Rs 16 LPA, however solely 45% of ladies obtained a proposal above Rs 16 LPA.
Finally, relating to the perceptions of recruiters, college companions (Training and Placement Officers) and college students, the report revealed a notable disconnect between the events.
While 91% of scholars consider their faculty curricula provide an enough 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, stated, “The Unstop Talent Report 2024 provides a comprehensive snapshot of the talent landscape in India, offering valuable insights for both employers and job seekers. By highlighting the preferences and concerns of students and HR professionals, we aim to bridge the gap between talent supply and demand, enabling more informed decision-making and fostering a more efficient and effective hiring process.”
