47% graduates in India are unemployable for any job: Report

 

NEW DELHI: At least 47% of graduates in India are not employable for any industry role, according the latest report by employability solutions firm Aspiring Minds.

The report is based on a pan-India study of 60,000 graduates across colleges.

According to the report, 47% graduates are not employable in any sector of the knowledge economy. The employability of graduates varies from 2.59% in functional roles such as accounting to 15.88% in sales-related roles and 21.37% for roles in the business process outsourcing (BPO/ITeS) sector.

A significant proportion of graduates, nearly 47%, were found not employable in any sector, given their lack of proficiency in English and cognitive skills.

Since a graduation degree is considered a pathway to a job in the knowledge economy, substantive intervention at the school and college level is needed to improve basic skills of students. A renewed focus on vocational training should be re-emphasised, said the report.

The employability varies from role to role based on varying degrees of proficiency required in language and cognitive skills.

For an analyst's role, close to 84% graduates were found to lack the right levels in cognitive ability, while 90% graduates did not have the required proficiency in English communication. As a result, less than 3% of India's graduates remain unemployable across different job profiles. These numbers change dramatically for a teaching role or a sales or support role in the industry.

Over 40% employable graduates are beyond the top 30% colleges and have no way to signal their employability to potential recruiters.

41% of graduates employable in accounting roles hail from colleges beyond the top 30% colleges, whereas for the IT services sector this percentage is 36%.

Despite being employable, these students have no way to signal their employability to recruiters who end up recruiting only from reputed colleges and universities.

"This study is a first of its kind for three-year degree graduates across India evaluating employability for major roles being offered by industry. The alarming statistics of nearly half of the country's graduates not being employable in the knowledge economy needs great attention with interventions at both the school and higher education levels," Varun Aggarwal, co-founder, Aspiring Minds said in a statement. 

Trivia Softwares launches new LIC agent website nimkarwondergrowth.com

M/s Trivia Softwares has launched a new website for LIC insurance agent and financial adviser. The name of the company is Nimkar Wonder Growth Investments  . The owner of the site is Mr. Devendra Nimkar who is a trusted LIC agent from last 23 years. He has his business located in Thane city. He deals into LIC insurance policies, Mutual funds, Corporate Financial planning and personal financial planning.

The website is a simple and easy to navigate.

Quality of entry-level talent worries IT companies

 

MUMBAI: Indian companies are increasingly complaining about the lack of quality talent at the entry level and more so in the IT/ITeS services space which recruits fresh graduates in huge numbers. According to a research conducted by a consulting firm, the findings of which were exclusively shared with TOI, only students from tier 1 engineering colleges, like the IITs and NITs, which constitute 4.5% of the overall engineering graduates, are fit to work in software products firms like Microsoft and Google given the kind of skills these companies need. On the other hand, 45% of students from tier 1, 2 and 3 colleges are employable by IT/ITeS services companies like Infosys and Wipro, reflecting the hiring challenges these technology firms grapple with in a fast-changing industry.

Overall in 2012, nearly 51 lakh students graduated in India, out of which 45.7% were from the arts stream, said Knowledgefaber, a Bangalore-based research & consulting firm.

Engineering and technology graduates made up 3.56 lakh of the overall talent pool at the graduate level. However, Knowlegefaber's research found that there are huge regional imbalances in the availability of engineering graduates. Four states (Andhra Pradesh, Karnataka, Tamil Nadu and Maharashtra) together have more than 70% of these graduates. To add to this concern is the question raised on the quality of engineering schools in India and the quality of graduates coming out of these colleges, said the research.

"Customer needs are changing and technology developments are placing greater demand on the industry. Outstanding interface skills, deeper domain knowledge and awareness of the business context has become a 'must have' for today's professionals. Not all colleges that churn out students have been able to build these skills into their curriculum, thereby necessitating companies to bridge the skill gaps and bring about standardization of capability, among students hired from different parts of the country," said Hari T, chief people officer at IT services firm Mahindra Satyam.

This is the reason why companies will have to hunt for talent beyond the IITs and NITs. "Across industries, companies are looking to hire from tier 1 engineering colleges but the competition is very high and it represents less than 5% of the overall talent pool. We feel it is best recommended to look at talent in tier 2 and 3 cities," said Amit Goel, CEO, Knowledgefaber.

Computer science and IT accounts for nearly 32.5% of the fresh engineering talent in India while electronics and mechanical stream comes in second and third with 21.8% and 17.7% of students opting for these streams, respectively.

Sangeeta Lala, senior VP & co-founder at TeamLease Services, said, "IT graduate freshers are not usually skilled with new technologies like cloud computing, making them a less preferred option for companies. These companies would then look to internal scaling or experienced candidates who are readily deployable with the knowledge of new technologies."

Many IT firms have set up huge training facilities to help these graduates scale up, which experts say is the way forward. Also, they have facilitated tailor-made courses to bring about the right talent on board. "Through new hybrid models, corporates are sponsoring academic institution-specific courses, selecting the students as per their needs, providing the content and course material related to their industries and business, which is actually increasing the possibilities of employment for students," said Sunil Goel, MD , GlobalHunt India, a recruitment firm. 

Fake rupee notes on the rise, in India and abroad 

 

It is a battle bank tellers seem to be winning. They spotted 5.2 lakh fake notes in 2011-12 compared with 4.4 lakh notes in 2010-11. In percentage terms, data from RBI show, there was a 19.6 per cent rise in the number of counterfeit currency notes detected in 2011-12 over the previous year.

Not that the counterfeiters are discouraged. On an average, around 3.9 lakh fake currency notes were found every year between 2007-08 and 2011-12, according to an RBI research paper put out last week.

The more enterprising are palming off the fakes abroad. RBI data show that the value of fake rupee notes impounded in Switzerland’s banking system trebled in 2011 over the previous year.

In terms of the number of pieces of counterfeit currency impounded, the Indian rupee is not at the top, with more US dollar, euro and Swiss franc notes caught by bankers. But it was significantly higher than the number of British pound, renminbi, rouble and rand clones impounded. Until 2009, the number of fake Indian currency notes detected in Switzerland was minuscule compared to other currencies. But in 2010, there was a sharp rise in the number of rupee notes impounded at 212 and in 2011, a five-fold jump to 1,144.

Beware the Rs 100 notes

Also, contrary to the general practice of suspecting Rs 500 notes, you should be wary of Rs 100 notes, the data show. These account for 56 per cent of the counterfeit bank notes detected in India.

The Rs 500 denomination notes made up a third of counterfeits detected. Notes of Rs 1,000 denomination accounted for 5.2 per cent, but even fake notes of Rs 10, Rs 20 and Rs 50 denomination have been detected.

 

New Website launched by Trivia Softwares:applekidspreschools.com

M/s Trivia Softwares has launched new website for Pre School based in Thane. The new website is called Apple Kids Pre School

The website is simple package website

Best Practices during First Job Interview

Having your first job is an exciting preposition for all fresher candidates, but as soon as they face the HR or the management of the company they are faced with various dilemmas which can make or break their career. This is because except for some good colleges or training institutes they are not taught how to approach the HR team or management of a company.

Most training is provided only in On Campus interviews where the big companies come and select candidates as per their needs. This is where the trouble starts, Most big companies only select candidates who are best in their class and have an outstanding academic record, but what about the hundreds of other students who have not been selected?

They will try to search out for jobs in thousands of small and medium enterprises spread across length and breadth of the country. The candidates are influenced by their colleagues  already placed in big organizations about the Pay Package they are getting and other benefits and expect the same treatment to be given to them by their employers as well.

But here is the catch:
1.You are not going in some big organization expecting a big pay because if you were that capable then you should have qualified for campus interviews as well.
2.Currently global economy is in a mess, and thus even experienced people are sometimes forced to negotiate on their pay package, in such a scenario you are just a fresher with no knowledge of how things work in real industry.


To get out of this mess remember one golden rule:

Lower your expectation and try to get as much experience as possible.

Here are some tips which will help you to get an advantage over others looking for the same job as you

1.Give yourself the edge – do your research
Researching the company before the interview will give you an edge in understanding the company’s needs. The more you know about a company the stronger your chance of succeeding at interview.

Reference libraries, the internet (Companies Website) and trade press are good sources of information. Where discretion allows, contact people you know in the industry that have experience of the prospective employer. 

Hiring Managers and HR personnel frown upon interviewees who fail to prepare well for interviews. They expect you to have a reasonable understanding not only of their products and services but also of the history and future direction of the business. More importantly, an interviewer will be impressed by your interest and motivation.

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Potential employer

• Study their web-site
• Understand their history
• Understand their territory coverage (office locations and presence)
• Analyse their financials and performance (company accounts where available)
• Appreciate their philosophy, corporate messages, brand values, and key competencies
• Appreciate their organisational structure
• Understand their business direction and growth aspirations

Services

• Understand the product and service range
• Find out who the competitors are
• Identify USPs and potential barriers to sale

Market

• Who is the key demographic the product/service is aimed at?
• Who will be the end users?
• Who are the key competitors?
• What are the routes to market?
• How is the brand received in the market?
• Is there any upcoming legislation that will affect performance?

The role

• Gain a full and proper understanding of the job description
• Understand the main responsibilities involved 
• Prepare a plan of action (e.g.how you would run your territory/manage your workload)
• Find out specific examples of duties and how your experience relates

The interview

• Find out who is conducting the interview? Their names, titles, and history
• Try to understand their key drivers and what qualities they seek in potential applicants
• Enquire whether there will there be a practical or skills test
• Enquire about the specific format of the interview

2. Confirm the contact detailsMake sure you have all the details you need, directions to your venue, the name of the interviewer, a contact number should you need to call them en route and the correct time.
If you require parking, check that there is space available and if it needs to be allocated.

3.On arrivalIf driving – make sure you park in the correct place so as not to be interrupted during the interview or worse still, get a shock when you leave.
Always make sure you switch your mobile phone off; there is nothing more distracting than a mobile ringing or vibrating during the interview.

4. Interview attire

• You should always dress professionally for interviews, and gentlemen, unless you're told otherwise, we recommend you wear a tie.
• Even if the company has a casual dress code, interviewees should dress in a smart business suit. It is always better to be too smart than too casual.
• Dress appropriately to the role applied for; the vary nature of the Finance, Leasing and Banking world implies smart business attire as a pre-requisite. Remember, rightly or wrongly, interviewers may let your appearance influence their judgement

5. Time keeping .

• Good timekeeping provides your interviewer with evidence of commitment, dependability and professionalism.
• Leave for your interview in good time - always allowing for unforeseen delays.
• If you think you are likely to be late, call us immediately so we can advise the interviewer accordingly.
• Try to arrive at the interview location 15 minutes early.
• This should leave you with adequate time to report into reception and collect your thoughts in preparation for the interview.

 

5 Top interview mistakes done by freshers

Normally having your 1st job is fun as well as exciting. Fresh out of college and rearing to go is the attitude most freshers have in themselves. but soon after 2-3 interviews freshers get dejected and frustrated from constant rejections by HR departments of reputed companies.
Its time that freshers should do some self inspection before even going for their first interview. Most first interviews land as disasters as interviewers are looking for the best skill set and attitude in a candidate and fail to get in most.

Here is a list of 5 top interview mistakes done by freshers:

1. Call the management or HR of the company and ask for CTC offered.
2.  Boast of skills to increase expected CTC.
3. Not knowing the exact job position offered and asking the HR or management about it.
4. No knowledge about what company does
5. Poor dress sense while going for an interview.

Many freshers face these mistakes and don't realize why  they have not been selected in interview.

So we say that remove all ego and attitude and go to an interview with a mind of a learner who is able to adapt to any circumstances.