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The annual Unstop Talent Report 2024 is based on feedback from more than 11,000 students, university partners and HR practitioners across the country. | Photo credit: Peshkov
An annual report from Unstop, a talent discovery, engagement and recruitment platform for students and graduates, shows that interest among university students in working at new startups is declining.
The annual Unstop Talent Report 2024, based on feedback from more than 11,000 students, university partners and human resources practitioners across the country, shows that the number of students interested in working for new startups dropped to 10% compared with the previous year.
With aggressive layoffs in the employment world, three in five students are prioritizing job security over salary increases, a clear shift in mindset. Existing salary remains the most valuable component of salary for most people, followed by perks and benefits.
About 45% of business school students prefer to work at established and traditional companies, while 52% of engineering students said they would work with any company.
gender gap
According to the report, in engineering schools, most men and women received the same average offer, but there were clear differences between arts and science students. If most men receive offers for INR 6-10 LPA, most women receive offers for INR 2-5 LPA – half of the offers are taken by male students.
In B-schools, 55% of men received offers above INR 16 LPA, but only 45% of women received offers above INR 16 LPA.
The report, which shares insights and trends on the recruitment and talent landscape in India, also shows that marketing is the preferred field for business school students, while finance and analytics are the preferred field for arts and science students.
Skills trump experience and academics
Additional insights were also gathered through conversations with HR leaders during the survey.
The report shows that only 7% of Indian universities have achieved campus-wide placements, but nearly 81% of HR professionals said their organizations are actively recruiting.
About 88% of HR practitioners expressed a strong preference for skills-based hiring, which prioritizes candidates’ abilities over other factors such as past experience, academics, letters of recommendation, internships and projects.
While 91% of students feel their college courses adequately prepared them for the workforce, 66% of recruiters and 42% of college partners respectively identify skills gaps and lack of preparation as key challenges in on-campus recruiting.
Ankit Aggarwal, Founder and CEO of Unstop said, “The Unstop Talent Report 2024 provides a comprehensive overview of India’s talent landscape and provides valuable insights to employers and job seekers. By highlighting the preferences and concerns of students and HR professionals, Our goal is to bridge the gap between talent supply and demand, enable smarter decision-making, and facilitate a more efficient and effective recruitment process.”
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