Demonetisation has brought windfalls for certain industry sectors like e-commerce, banking and financial services and technology consulting. These sectors have received a shot in the arm because of demonetisation and hence are expected to grow and intensify recruitments from B-schools.
2016 didn’t start on a positive note for the e-commerce companies that planned to recruit from MBA campuses. In 2015, there were instances of e-commerce companies who recruited MBA graduates from campuses but subsequently deferred joining dates. Flipkart deferred joining dates for IIM Ahmedabad graduates to December. Such things weren’t restricted to IIM Ahmedabad alone. Other campuses also saw something similar happening. Given the fiasco of 2015, last year not only B-schools but even the engineering colleges were reluctant to give preferred dates to e-commerce companies. The preferred dates were being given to traditional and more stable companies. But with demonetisation coming in, the dynamics of placements seem to be changing.
Demonetisation is a boon for companies like Paytm, MobiKwik, FreeCharge, IndiaMART, ShopClues, Amazon, Flipkart, Snapdeal, etc. The current short supply of cash is expected to translate into a trend that will see more and more of digital channels being used for payments and a sharp rise in e-commerce transactions. In coming months, some of the e-commerce companies will see growth that would have normally taken years. likes of Paytm are already seeing an exponential growth. Business growth obviously translates into more recruitment from B-school campuses. Early signs of e-commerce companies jump starting their B-school engagements are visible.
Banking and financial services is another sector where the recruitment numbers are expected to increase. Banks are struggling to cope with work. Not only is the client-base increasing, the quantum of money in bank deposits is also increasing. Interest rates are expected to go down and loans are expected to go up. The number of high net worth customers is also expected to go up. Additionally, many banks are coming up with innovative digital payment solutions like SBI Buddy, etc. All this would again translate into additional growth for banks and hence more recruitment from B-schools.
If e-commerce and banks do well, the vendors providing technology and consultancy services to these industry sectors are also expected to grow. Consulting companies have been traditionally coming to B-schools for picking up graduates who can service international clients. 2017 will see consulting companies like E & Y, Deloitte, PwC, etc pick up a lot more B-school graduates for servicing Indian clients.
Demonetisation is leading to more online transactions and digital money. This in turn means more avenues for cyber crime. Technology consulting companies expect their customers to invest more into fraud detection and hence this will be another collateral area of potential recruitment.
The job offers to the students are expected to be more transparent in packages and students will be able to evaluate packages much more objectively. Some companies used to promise cash bonuses, something which demonetisation will eradicate. While the traditional brick and mortar sectors will not get impacted negatively, sectors like e-commerce, banking and financial services, technology consulting will recruit from B-Schools so as to reap the benefits of demonetisation and thus meet the expectations of a Digital India.
(The writer is Dr Rajneesh Chauhan, chair placements, Fore School of Management, New Delhi)