IIM-C (Indian Institute of Management-Calcutta) has decided to introduce functional preferences system for its summer placement process beginning from November 5, 2012. As per the new system, student can accept more than one offer on the same day and select the best out of them.
Under the new regulations, a student can attend the interviews of other companies even after receiving an offer from one of the firms thus providing a number of options to choose from.
This system will become significant when firms of a specific industry participate in the placement process later in the day and students opt for another company due to peer pressure. The preference system will be in the interest of both students as well as companies, as the entire process will be less stressful for students and they will be able to make a sound decision.
While the existing process involves more pressure and leads students to accept whatever offer comes their way irrespective of the roles and responsibilities, the new system will give sufficient time to the students to access all the available options and then make a right choice. This will ensure right job to a right candidate. The recruiters will also be able to choose the best students from the talent pool.
Placement at IIM-C is a 4-5 day process with over 12 companies visiting the campus every day. Under the previous system students could accept only single offer. The new system is more flexible and prevents students from compromising on their preferences.
The B-school has also implemented the system of a day-long break to allow students to access their choices available and make a right call. The firms that have lined up interview process on the upcoming days will hold their GD rounds on the break-day.
Source: Economic Times
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