Focused brand building yields 'day zero' slots

PLACEMENT: Companies strive to portray themselves as employers of choice to management students.

The one-crore salary packages at the recently concluded placement season for management schools are well known, but what isn't known is the story behind the offers. Of almost 400 companies that receive invitations for the placement season, only 90-100 make the final cut to come to the campus for the placement week.

Even among these, not more than 20 click with the students for the coveted slot zero. Their experience suggests that those who missed out may well have avoided this fate had they conducted the right brand building exercises.

The first step begins right at the start of an academic year"" in June"" when the institutes draw up a list of companies. Invitations are extended well in advance to the shortlisted ones for the summer placements in October.

IIM officials say it is the summer internship that can make or break a company's relations with an institute. Barring a few, most acceptances of pre-placement offers have their origins in the way the student found an organisation during the two-and-a-half month internship. Following the internship, companies keep in touch with the students.

Every institute has its own cultural festivals, seminars and competitions, which are increasingly being viewed by companies as platforms to gauge student interests and expectations.

Sponsorship requirements for these events come in different packages and companies sometimes contact student representatives directly, to probe possibilities of special interactions like presentations.

Says Swaran Sehgal, vice-president, human resources at Edelweiss Capital, which recruited students from IIM-Ahmedabad and IIM-Calcutta in March: "Alumni opinion is the most influential reason why a student accepts or rejects a particular offer. The alumni networks of institutes like the IIMs are very strong, and most companies visit the campuses with at least one alumnus of the particular institute, who is able to relate better with the current batch of students."

Companies that want to recruit from the IIMs take pre-placement presentations""made just before the placement season"" very seriously. These revolve around their vision, work culture and job openings. Some companies also visit institutes and conduct short workshops on particular sectors. Edelweiss had recently sponsored a research paper contest for IIM-Lucknow's annual festival.

That companies strive to be visible on the B-schools campuses is no surprise. However, officials from the IIMs say there are well defined boundaries between companies and students.

"Many formal and informal interactions take place between companies, who could be potential recruiters, and the students throughout the year, but there is no overt effort of brand building on the campus," says Piyush Kumar Sinha, chairperson of IIM-A's placement cell.

Adds Sourav Mukherji, placement co-ordinator and professor at IIM-Bangalore: "We follow a democratic system while inviting firms for placements. Who comes first is decided by the students themselves." But, he says, the interests of the institute are also kept in mind"" if the students' choice is not in the best interests of the institute, "then I have to guide the students on their choice."