“We have received mails from the placement cell of IIM-A and we will look at hiring these graduates, but only after interviews”, said Amit Sinha, vice-president, Paytm.
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The college asked Flipkart to compensate its students by giving them their monthly salaries from June.
“As we work on redesigning this program, we have taken a decision to postpone the joining of new recruits by a few months”.
Facing music from several affected parties which included top-tier institutions, students and others, Flipkart, in response to an IIM-Ahmedabad letter, declaredit can not go beyond Rs.25,000 per month for six months, amounting to Rs.1.5 lakh altogether, as compensation for the delay. The delay in the joining dates should be shortened, the letter says, and the company must give a written commitment that candidates will have a job when the joining date is finalized.
The B-School in its email also wrote, “The decision to defer the date of joining, coming as it does so close to the earlier promised date of June 2016, is sure to make this talent pool regret their decision of joining your company”. The company did not disclose the number of campus offers made this year. This move could possibly hurt Flipkart’s future recruitment prospective, especially considering the fact that IIM’s are considered the most important recruiting grounds for most organisations.
As previously mentioned, we would appreciate a speedy response from your side regarding scheduling a conference call in the next couple of days, where all the relevant stakeholders (Flipkart management, placement chairpersons of the campuses, Placecom representatives from the campuses, representatives from Flipkart new joinees) can engage to reach a mutually acceptable solution. “Afew have already expressed interest in our offers”, he said.
The email sent by IIM-Ahmedabad said that students need to repay loans.
Companies from other sectors too have shown willingness in taking on board these students as the institutes swung into action to help them. But now the graduates from top B-school of the country are not only sitting idle but are on look out for other alternatives to earn their livelihood. This is because as a part of the ongoing process, it has also completely restructured its campus hiring process and thereby, deferred the joining dates of the fresh IIM batch it recruited recently by 6 months.
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Also, either the period of deferment needs to be scaled down or the quantum of compensation for deferment needs to be ramped up (Rs 1.5 lakh for a period of seven months is, to put it mildly, utterly unacceptable) to reflect x per cent of package.
