CarDekho.com president Umang Kumar is visiting his alma mater, Indian School of Business, this weekend for the annual alumni event, Equinox. This time, though, he also has hiring in his mind.
Through Equinox, CarDekho -the online portal to buy and sell used and new cars -has organised Torque, a business and product casestudy competition for ISB students.The prize is a pre-placement offer . 40 lakh.with a salary of at least ` CarDekho has extended the preplacement interviews (PPIs) to each of the 10 shortlisted teams, which means up to 30 people at ISB are eligible for a PPI.
“It’s about building our brand and we wanted to assess the best talent before other companies come on campus. Be ing a consumer internet company , human capital is all we have and if we get bright people, we can extend the PPO to more than one person. We can up the salary as well,“ said Kumar.
Eager to get the best and most diversified talent, companies are pulling out all stops to get to campuses, and are tweaking their campus strategies and getting talent increasingly through innovative case studies, contests and other means.
This year, Godrej Industries and its associate companies introduced a competition, Campus Dream, as part of Godrej LOUD (Live Out Ur Dream), a platform to help young and talented realise their dreams. The company asked first-year MBA students to share their big dream for their campus. On offer was a sponsorship of up . 5 lakh to live out their dream and a to ` PPI. Team ` Avengers’ from the National Institute of Industrial Engineering won the competition. Their dream was to set up an electronic, coin-operated, laundry system.
Godrej received more than 2,300 applications for LOUD, a 40% increase from last year, and shortlisted 50 students. It expects 45% of the participants to be part of the group’s summer internship programme this year.
Deloitte’s Maverick, a popular event at b-schools, has doubled its reach to around 107 institutions this season. The programme connects with students across campuses using an engaging business simulation format. This year, more than 15,500 students have registered to participate. The winner gets an opportunity to work with Deloitte.
During the event, participants get to work on programmes which are specifically designed and developed to help create a future workforce that is skilled and trained to succeed in a corporate organisation. Also, the participants have to face current, real-world, global business challenges giving them an opportunity to contribute their opinion and share their insights on a larger scale.
“There are schools which we never visited during placements in the past and their performance during these contests made us reevaluate them. For instance, students from SIBM (Symbiosis Institute of Business Management) in Bengaluru made it as finalists one year and consistently did well in other years as well. Clearly it wasn’t a flash in the pan,“ said SV Nathan, senior director and chief talent officer at Deloitte in India.
Companies perhaps also look to get breakthrough ideas for their businesses through such contests. Under CarDekho’s product challenge, students are expected to envisage themselves as a product manager tasked with building an app which allows consumers to book inspections for their cars. The problem statement here is that most used car buyers and sellers rely on local mechanics to inspect the car they are about to buy or sell. The service given to the consumer is often not up to the mark and not standardised.
Amazon has extended its Amazon Customer Excellence Challenge (ACE) to 21 business schools this year from 15 in 2013. An innovative inter-college case study competition, ACE is open to teams from top b-schools in Asia. ACE challenges students to innovate, strategise and sample a diverse set of complex work challenges that are core to a typical workplace, including Amazon. “ACE expanded its reach to more campuses and we also took it to some international Schools in APAC,“ said Raj Raghavan, director for HR at Amazon.
Source: Economic Times