Published: Ahmedabad Mirror | June 17, 2016 | Niyati Rana
This year, Portea Medical and Babajobs revoked their offers to MICA students while Raw Pressery and Landmark slashed pay by 40% and 50% respectively. Last year, GIFT City offered jobs to 14 SVNIT students but hired only six
Indian Institute of Management, Ahmedabad (IIMA)'s letter to e-commerce giant Flipkart for deferring stu dents' joining dates by six months may have created a stir in the employment market. But IIMA students are not the only ones to have been deserted by their employers. Gujarat's known institutes Sardar Vallabhbhai National Institute of Technology (SVNIT) and MICA have also faced a harrowing time from recruiters who reneged on their job commitment.
Gujarat government's ambitious venture Gujarat International Finance Tec-City (GIFT) left SVNIT students in the lurch while at MICA, students are yet to recover from the placement nightmare.
MICA, SVNIT nurse wounds of betrayal
According to information shared by SVNIT's placement officer Bhargavi Jagirdar, around 14 MTech students were offered jobs at various positions and departments in 2015's placement season. However, the institute said that of14 students tentatively only six students received the joining letter. The rest eight did not hear from GIFT City officials.
Rahil Shah, a MICAn from 2016 batch, was over the moon when he received a job offer after rigorous screening process at Raw Pressery on December 11, 2015. His joy, however, was short-lived. In February, the company officials informed MICA's placement committee that his pay package has been downgraded from Rs 9 lakh-Rs 18 lakh per annum to Rs 5.4 lakh.
The company cited “fund crunch“ as the reason for slashing the pay, leaving the future of at least five students who chose to work with Raw Pressery, hanging by the thread. Rahil was among the 10 students at MICA who felt jilted by the firms and start-ups that either revoked their offers or slashed the pay packages. In February 2015, Tapan Khandelwal, an SVNIT student, was offered the post of an assistant manager and a package of Rs 4.8 lakh per annum. “However, even as we waited for the joining letter, our institute and students were informed that the joining dates will be deferred by few months as GIFT City cited tough business environment as the reason. In August end, they mailed the institute that of the 14 who were shortlisted, only six could join the company immediately while the rest would be absorbed in a phased manner,“ he stated.
'NO COMMUNICATION FROM GIFT CITY'
He said, they did not receive any written communication from the company. “We were not allowed to participate in campus placements as we were shortlisted by GIFT City. We really had to struggle a lot to find another job for ourselves and remained unemployed for a few months,“ he stated. Tapan finally bagged a job in Jaipur.
An email sent to GIFT City's Vice President, Human Resources, Bhavaysh Karria did not receive any response. The agency handling corporate communications for GIFT City informed Mirror that the company did not want to comment on the issue.
President of MICA, Madhukar Kamath, said that though MICA achieved 100% placement for 2016 batch, Portea Medical and Babajobs revoked their offers, Raw Pressery slashed their package by 40% and Landmark by 50 %.
'SLASHED MY PAY
Shenoy Chakravarti, another MICAn, said, “Landmark's pay package of Rs 11.5 lakh per annum was a major attraction for me. But in March 2016, they informed me that they could only pay me Rs 6 lakh. Right now, in my current job, I am being paid close to Rs 8.5 lakh. I am losing out on Rs 3 lakh more per annum only because I chose a wrong company during the placements,“ said Shenoy.
'THEY SAID THEY COULD NOT HIRE ME'
Ravi Puri, who received an offer from Portea, had to hunt for a job on his own after the firm cited a fund crunch and told him they could not hire him. “I consider myself lucky that I got a job. I thought I will remain unemployed because I chose to work with a relatively new company,“ he said.
'THEY COULDN'T MANAGE FORECASTS FOR QUARTERS'
Kamath stated that the withdrawal of job offers and pay reduction took them by surprise. The student placement committee was left scrambling for new op portunities for the students.
“I strongly believe that the companies which withdrew their offers or even reduced their packages were being totally insensitive. They misused the prime slots that were given to them during the placement week. I find it quite surprising that they were not able to manage their forecasts for even a couple of quarters, going forward,“ stated Kamath.
Responding to Mirror's email query, co-founder of Babajob, Vir Kashyap, stated thatBabajob did identify one student from MICA they were interested in working with.
“Businesses of all sizes including startups are subject to economic and business cycles that affect hiring plans. We have been working closely working with the candidate to help secure another opportunity at the earliest,“ he stated. An email sent to Raw Pressery's HR Head Ritu Nanda received a response that the company did not want to comment on the issue. Mirror's emails to Portea and Landmark did not receive any response.
'COMPANIES SHOULD LOOK BEYOND SHORT TERM'
MICA's Associate Dean (Industry and Alumni Parternships) Siddharth Deshmukh, said, “The marketplace does suddenly change, and that impacts a lot of jobs including those offered to our students. And yes, while we understand that companies have their pressures, we urge them to look beyond the short-term and see the damage that it causes their own brands,“he stated.