Many startups have restrained their offers to MBAs and engineering graduates, forcing the IITs to figure out a safety net for its students.
Some startups have reduced the compensation they had promised to pay to the freshers, after making their offers. To safe freshers from this problem the IITs have allowed all the affected students to re-register for placements.
With Flipkart extend the joining dates of 18 graduates of IIM- Ahmedabad by six months, the foremost business school is drafting new guidelines for placements to avoid such conflicts in the future.
Asha Kaul chairperson of IIM-A's placement committee, said on Friday, "We want to send a strong message to recruiters that they should define their recruitment policy appropriately before they go to campuses," IIM-A has asked Flipkart to increase the compensation amount from the existing Rs 1.50 lakh, to be paid lump sum on joining, but the latter is neither ready to increase it nor change the joining dates.
"I had a telecom with them (Flip kart). We tried to explain our points; they tried to explain their points. However, there was no progress," Kaul said. At a time, IIM-A has also issued a written statement, saying, "Flipkart has been a trusted recruiter, and we are facing such a situation for the first time. We are certain that this matter can be sorted out satisfactorily."