51% companies hire from top-20 institutions: Survey
Two out of every five companies in India have said that foreign university graduates are better prepared for the jobs than those who graduate from Indian institutes, says a new study.mumbai Updated: Oct 07, 2014 22:24 IST
Two out of every five companies in India have said that foreign university graduates are better prepared for the jobs than those who graduate from Indian institutes, says a new study.
The findings were a part of the British Council’s India Employability Survey 2014, which was carried out across 200 Indian and foreign companies to understand the employability potential of Indian students.
“As organisations strive to compete in an increasingly global marketplace, they place significant importance on international education in the talent they recruit,” said Rob Lynes, director, British Council, India.
Most companies which do not hire foreign-trained students say that the students need to modify their expectations in terms of salaries, job description, which is why only 13% of the companies hire foreign-trained students, states the report.
Most firms put job portals at the top of their list of preferred recruitment sources. However, peer references matter more for companies looking to tap into foreign-trained talent pools, and almost 52% of firms rank this as one of their top two sources for hiring such workers.
However, while companies had hired more foreign graduates in the past three years, the number is expected to come down this year from 26% to 20%, according to the survey.
“Popular perception that foreign degrees guarantee jobs does not hold true anymore. Though they are considered to be better, companies are ready to invest in students from Indian institutes,” said GT Thampi, Thadomal Shahani College of Engineering.
On hiring trends in India, the report found that 51% of the companies that hire students from Indian universities prefer to hire only from the top 20 Indian institutions. The reason behind the difference in hiring trends, the report says, could be desperation for talent, which forces companies down the quality ladder.
The survey also highlights that an internship programme is considered an important criteria for entry into jobs.