In December 2009, when the Indian Institute of Management-Ahmedabad decided to do away with Day Zero, it was widely expected that IIMs in Bangalore and Kolkata would follow suit. These institutes form a cluster, and follow similar policies to be in alignment.
Hardly a month later, though, IIM-B and IIM-C have decided not to do away with Day Zero (the first day of placements on campuses) - at least for this year. On its part, IIM-Ahmedabad will go ahead, get rid of Day Zero, and replace it with a cohort-based system. The IIMs will begin final placements in March 2010.
Day Zero at these IIMs was created when demand for IIM graduates had peaked and the institutes had to resort to creative mathematics to accommodate big recruiters without offending the existing ones.
But the economic downturn forced the B-schools to extend placements and review their strategy. This included doing away with Day Zero, which all the three IIMs agreed to in March 2009.
This time around, IIM-A decided to share the details of the new process with IIM-B and IIM-C to arrive at a consensus on the placements strategy. IIM-A's cohort-based system of placement will carry on for a month or two as opposed to the day-placement system, which gets over in 6-7 days. The new system is expected to ensure more interaction time between the students and firms. Cohorts would be formed on the basis of role similarities.
"The move essentially aims at a better match-making process, ensuring a better fit between the students and the firms," explains Saral Mukherjee, chairperson placements, IIM-A.
The three IIMs coordinate on placements as it becomes easier for recruiters, especially international ones, to take turns and visit their campuses. IIM-C, however, has its reasons for not toeing the line.
"IIM-A was working on changing its placements process for the past nine months. We have not decided to make any changes yet. For this year at least we will continue with the same," says Prafulla Agnihotri, chairperson placements at IIM-C.
"Considering IIM-A has changed its placement policy, it will have an impact on us as mostly the same set of recruiters frequent the campuses. We will have to discuss this issue with the recruiters, too. For this year at least, we are not changing the process," says a professor from IIM-B.
Human Resources (HR) experts say that firms flock at IIMs to recruit students as the cost of recruiting them off-campus is higher. Besides, regular recruiters have become employers of choice at the IIMs and enjoy mind-share among the graduating students.
Meanwhile, IIM-B and IIM-C are also looking at creating special slots for public sector units this year. "We want PSUs again on the campus. We believe that they offer great learning and opportunities for career growth," says Agnihotri. Last year, the PSUs saved the day for IIMs during final placements.
