Answer to question no 1:
I am agree with Satya that present competetive scenario force people to think differently. The legal and ethical part of business has been kept fully secured by the management still I fill there will be an adverse effect during the time of new employment. Each and every candidate (not only the candidate from IITs ) who are aware of the fact that the organisation treat the candidate during employment so diffrently and that fear factor force the candidate to prioritise such organisation in the lowest rank if option (job opportunity) are available in the same industry or ecconomy where they want to continue their carrier. Unfortunately in india, most of the candidate go by opprtunity not by choice and there is an upperhand and utmost benefit which is exploited by so many organisation and hence there will be a little effect as we have abundunt of resource than the employment
Answer to question no 2:
Yes, Infosys did not cancell the job offer they cancelled intent of offer. Technically they are very correct the only differnce is that the intent of offering 'letter of intent' should be clearly defined. Here most of the organisation keep their rescue option open every time. As a new comer in the industry most of the candidate could not able to differentiate between 'job offer' and the 'letter of intent' and so people blame the employer only. Here the Institution (IIT) has a role to guide their student to understand such very simple yet very sensitive issues. If we understand the intent of the organisation very well then probably one can limit there expectation accordingly and hence there will not be any desaster.
Answer to question no 3:
If i was the co-ordinator I would have negotiated with them even at lower pay package. Other than the negotiation part I woud have opted for other company in the market. Only MNC's and big corporates are not the option during the downstream of market condition.
Answer to question4: No, I do not have such friend of similiar experience hence no comment.
::Letter of Intent::
ReplyDelete1. Every one thinks differently and every one have different views on this subject.From my point of view world class employer has been doing excellent works and the company brand image is definately good in competitive business market. And to maintain the brand image is also a difficult task for the entire organization and they have to adopt new innovative technological and strategic changes to compete the market. Due to recession mostly IT company’s are badly affected. Infosys is a good brand image company and they have set a good example in the IT world and that’s why are top in IT sector. Economic meltdown / slowdown is for all IT sector and not for this company only and this is well known to all . So there is no question of loosing “The Best Employer Brand Image" .
The recession is also for temporary period and big IT companies can recover fast once the recession is over
2. At the time of campus interview company’s makes a condition that selected candidate should have first class in final exams and give him / her an offer letter, letter of intent , but after joining if he / she couldn’t get the first class then company terminates him/ her and pull back the letter and in that case there is no question of loosing brand image of the firm or company because of their recruitment policy. Its again the question of reputation of the company eg. for particular company recruits only first class passed candidates. Its totally company’s decision to choose the candidates as per the their required candidates prospectus If we think legally company is not bound to recruit whom they had given offer intent letter but they will loose good prospective candidates and affected candidates will get disappointed. Infosys had not cancelled the job offer they cancelled intent of offer. For some candidates it would be difficult for them to distinguish job offer and the letter of intent
3. As a placement officer I would have adopt following clear cut policies of placements
I – Invite all company’s not only IT sector companies and before inviting one to one discussion with the firm recruitment policies with the respective organization. Discussion with candidates and clear the concepts of job offer and the letter of intent to avoid misunderstanding
II – If and unpleasant decision has required to be taken then company should again consider that candidate when the recession is over with written agreement.
III – Knock out recruitment policies. Once the candidate has got placement in one company he can’t appear for the next company. This would give 100% placement.
IV – I would ask the written bond from the company for fixed period say one year. If any unpleasant situations comes then company should pay compensation to that candidates so that he would not be disappointed and he can search the new job or further higher studies without loosing his moral
4. No one from my friend circle had such kind of experience.