Role of Consultancy in Bridging Gap Between the
Expectation of
Management Students & Industry.
A Comprehensive Project
on
...
Flow of Presentation.
 Introduction.
 Consultancy Industry Overview.
 Introduction to study.
 Literature Review.
 Pro...
Consultancy:
 A professional practice that gives professional or expert advice within a particular field; such as
managem...
Consultancy Industry Overview.
 Global consulting industry revenues (including HR, IT,
strategy, operations management an...
Present Situation.
 India’s estimated 3,300 business schools contributes 10,000 of management graduates each year.
 But ...
Expectations of Students.
 Great Salary.
 Good Position.
 Mobility.
 Perception Disorder.
 Degree alone is sufficient...
 Author: Caroline Scheepmaker & Nannette Ripmeester
Article: Employability: Matching employer needs with students capabil...
Problem Statement.
 A fresh graduate or job seeker has some expectations from the organization in which they want to make...
Objective.
 To find the factors those are responsible for discrepancy between company expectation and
management students...
Research Methodology.
 Research Design:
Research design used is descriptive.
Descriptive research is a fact-finding inves...
 Population:
Data is collected through 13 consultancy firms in ahmedabad, population for the research is the employees
of...
Age No. of experience Gender
48.02%
26.19%
5.56% 0.00%
20-30 30-40 40-50 More Than 50
22.22%
43.25%
11.90%
2.38%
Less than...
1.What are the functional area of your consultancy?
22.17%
75.86%
60.59%
41.87%
66.50%
10.83%
18.23%
Banking HR Finance Ma...
2.Do you recruit management students in your
consultancy as trainee & junior level post ?
66.27%
13.89%
0.00%
10.00%
20.00...
3. Do you recruit management students for your client at
corporate level?
64.29%
15.87%
0.00%
10.00%
20.00%
30.00%
40.00%
...
4. The students are employed on what basis?
9.92%
21.03%
49.21%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
From the a...
5. If on contract basis, the contract between :
9.13%
54.76%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Yes No
From t...
6. Fresher's are selected on the basis of
15.08%
43.25%
21.83%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00...
7.Do you tie up with academic institutions for
collaborative skill programs ?
27.38%
52.78%
0.00%
10.00%
20.00%
30.00%
40....
8.Do you conduct seminar and workshop for fresh
candidates & pursuing candidates ?
29.76%
50.40%
0.00%
10.00%
20.00%
30.00...
9.Do you agree that academic should focus on practical
studies rather than theory?
60.32%
7.54%
12.30%
0.00%
10.00%
20.00%...
10. Do you agree that fresher’s expectations are unrealistic about
the first job?
64.68%
15.48%
0.00%
10.00%
20.00%
30.00%...
11. Do you agree that demand of jobs in market is less as
compared to supply of management students?
55.16%
25.00%
0.00%
1...
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Team development/teambuilding
Recruitment and selection
Facilitation and train...
16. Working through this table, consider how do you Market your expertise & Contact to your potential
clients, Rate the sa...
Findings
 Major number of the consultancies which we have targeted are working in the IT and the HR area. Very
low of the...
 Sometimes the consultancies arrange free seminars and workshops for the fresh candidates and pursuing
students.
 The co...
Conclusion
 Study of the resource management at graduate & post graduate level in India is based on various kind of
secto...
 Article:
 Identifying the skills for consultants working in project-based organizations (A glimpse into the
Mexican con...
 Sites:
 http://www.eaie.org/blog/matching-employer-needs-with-student capabilities/
 http://www.nytimes.com/2012/11/11...
Thank You….
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Role of Consultancy in Bridging Gap Between the Expectation of

  1. 1. Role of Consultancy in Bridging Gap Between the Expectation of Management Students & Industry. A Comprehensive Project on GTU
  2. 2. Flow of Presentation.  Introduction.  Consultancy Industry Overview.  Introduction to study.  Literature Review.  Problem Statement.  Objective.  Research Methodology.  Data analysis and interpretation.  Findings.  Conclusion.  Bibliography.
  3. 3. Consultancy:  A professional practice that gives professional or expert advice within a particular field; such as management, accountancy, human resources, marketing ,finance, or any of many other specialized area. Way of Work:  A consultancy is engaged to fulfil a brief in terms of helping to find solutions to specific issues but the ways in which that is to be done generally falls to the consultant to decide, within constraints such as budget and resources agreed with the client. Types of Consultancy:  Information-technology (IT) consultancy.  Human-resources (HR) consultancy.  Immigration consultant.  Marketing consultants.  Performance consultants. Introduction.
  4. 4. Consultancy Industry Overview.  Global consulting industry revenues (including HR, IT, strategy, operations management and business advisory services) will be about $415 billion in 2013, according to Plunkett Research estimates.  This represents reasonable growth from $391 billion in 2012.  During 2010-12, for example, India’s leading consultancies enjoyed substantial growth in employee count and revenues, as did most of the global consulting firms based in the U.S. and European countries.  A major development in IT consulting has been the extremely rapid growth of large companies that are based in India but compete globally, such as Wipro, Infosys and Tata Consultancy Services (TCS).  Offshoring to India Drives Changes in Global Consulting. Statistic Quantity Unit Year Global Consulting Industry Revenues 415 Bil. US$ 2013 India's Outsourcing & Consulting Industry Revenues 75.8 Bil. US$ 2013 India's Outsourcing & Consulting Industry Forecast 225 Bil. US$ 2020 Management Consulting Companies Revenues 125.9 Bil. US$ 2011 Financial Management Consulting 7.9 Bil. US$ 2011 Marketing Management Consulting 12.7 Bil. US$ 2011 Human Resources Management Consulting 11.5 Bil. US$ 2011 IT Technical Design, Development and Consulting 8.1 Bil. US$ 2011
  5. 5. Present Situation.  India’s estimated 3,300 business schools contributes 10,000 of management graduates each year.  But only a small fraction of them are “employable,” or possess basic skills necessary to work in sectors ranging from marketing to finance, according to an unpublished study.  According to study only 10% Indian MBA Graduates are “employable”. Expectation of Industry.  Three Key Criteria:  Knowledge  Attitude  Skill  Aptitude towards Learning & Development (Newer Technologies/Methods)  Articulation – Communication Skills (Verbal / Written / Presentation)  Self Motivation  Self Confidence  Team Play Introduction to study.
  6. 6. Expectations of Students.  Great Salary.  Good Position.  Mobility.  Perception Disorder.  Degree alone is sufficient for getting job.  High salary - White Collar job. Reasons behind the Gap between Academia and Industry.  Students and Industrialists have a different mindset, therefore both are living in two different worlds.  Unrealistic Expectations by Students.  Mind set of Students - Frequently changing job, for getting achievement as soon as possible.  Industry thinks in terms of short range goals whereas the Students has a long range perspective.  Industry is mainly concerned with costs. Academia could care less about costs, it is mainly interested in the benefits and prestige.
  7. 7.  Author: Caroline Scheepmaker & Nannette Ripmeester Article: Employability: Matching employer needs with students capabilities. 12, December Author concluded that for being a suitable candidate it is not always about subject-matter skills, or even generic skills. Students need to develop the flexibility and attitude to always be looking for the next development, for innovation, for adaptability, both in their field of expertise and in their personal and career development. It is not that there are no (suitable) jobs out there; it’s just that job market orientation is complicated. So the Consultancy firms organize seminars and workshops to bring students and professionals together to clarify student options and simultaneously offer organisations an opportunity to learn about what attracts students.  Kaushal Mandalia, founder and director at insight HR and training consultants (April 8, 2012) Industry expects proper attitude, commitment, dedication, self-discipline, strong analytic, listening and communication skill, aptitude and willingness to learn, knowledge of the organization and processes within the organization from the selected candidates.  Robert w. Goldfarb, a management consultant and author (11/11/12) New York Times According to author the perception of CEOs regarding the freshmen is that they are lacking the skills and discipline required in today’s workplace. According to author Robert w. Goldfarb best managers and best employees enter the workplace with broad educations and not with the technical degrees. Literature Review
  8. 8. Problem Statement.  A fresh graduate or job seeker has some expectations from the organization in which they want to make their career. And organizations also have some expectations from the new candidate for designation. Consultancy deals with both of them, new job seekers (management students) and industries. This report helps in understand the how or what role consultancy play in bridging gap between the expectations of both management students and industry.
  9. 9. Objective.  To find the factors those are responsible for discrepancy between company expectation and management students.  To identify the underlying factors for gap between academic output and industrial requirement.  To discuss about the current need of industry in terms of competent.  To explore the possibility of having customized curriculum as per the need of industry.  To filter promising candidate having broad knowledge as well as technical degree from the pool of academic students.  To enable students to realize and articulate the skills, by connecting them with companies, informing them of employer expectations.
  10. 10. Research Methodology.  Research Design: Research design used is descriptive. Descriptive research is a fact-finding investigation with adequate interpretation. It is a simplest type of research and is more specific. Mainly designed to gather descriptive information and provides information for formulating more sophisticates studies.  Data Collection Methods: There are two types of data collection method. They are :  Primary data: For collecting primary data we have used questionnaire and interview.  Secondary data : Secondary data is collected from different from different websites, research papers, articles.
  11. 11.  Population: Data is collected through 13 consultancy firms in ahmedabad, population for the research is the employees of those consultancy.  Sampling Method: Stratified sampling method is used for the research work.  Sample size The total sample size is 202. Total employees of 13 consultancies.  Sampling Frame: Sampling Frame consist of employees of consultancy firms and management students of Ahmedabad city.  Data Collection Instrument: For data collection, Questioner is being used consist of various questions regarding the research topic.  Name of consultancy approached: Prime placement & manpower services, Garima placement service, Big idea consultancy, highheads management consultancy, united HR solution pvt ltd., Anything HR solution, Himalaya management consultancy, Arrow recruitment consultant pvt ltd., Genius placement service, Pharmahood consultants, HR insights, ANS consultancy , Havoc job consultancy.
  12. 12. Age No. of experience Gender 48.02% 26.19% 5.56% 0.00% 20-30 30-40 40-50 More Than 50 22.22% 43.25% 11.90% 2.38% Less than 1yr 1-2 yrs 2-4yrs More than 4yrs 39.68%40.48% Female Male Data Analysis & Interpretation
  13. 13. 1.What are the functional area of your consultancy? 22.17% 75.86% 60.59% 41.87% 66.50% 10.83% 18.23% Banking HR Finance Marketing IT Acadamics Others From the above chart we can see that there are different functional areas of a consultancy as shown above 21.27%in banking , 75.86% in HR , 60.59%in finance , 41.87% in marketing , 66.90% in IT , 10.83% in academic and 18.23% in others.
  14. 14. 2.Do you recruit management students in your consultancy as trainee & junior level post ? 66.27% 13.89% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No From the above graph we can analyse that 66.17% consultancy recruit management student in their consultancy as trainee & junior level post whereas 13.89% do not.
  15. 15. 3. Do you recruit management students for your client at corporate level? 64.29% 15.87% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No As shown in the graph we can analyse 64.19%constltancy recruit management students for their clients at corporate level whereas 15.87% do not recruit.
  16. 16. 4. The students are employed on what basis? 9.92% 21.03% 49.21% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% From the above graph we can analyse that 9.92%stuedents are employed on contractual basis , 21.03%students are employed on permanent basis and 49.21% on both contractual and permanent basis.
  17. 17. 5. If on contract basis, the contract between : 9.13% 54.76% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No From the above graph we can analyse that 9.31% contract is between consultancy and candidate whereas 54.76% of contract is between industry and the candidates.
  18. 18. 6. Fresher's are selected on the basis of 15.08% 43.25% 21.83% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% Yes No Both From the above graph we can analyse that 15.08% of fresher’s are selected on the basis on academic performance , 43.15% on KSAO’s and 21.83% on both.
  19. 19. 7.Do you tie up with academic institutions for collaborative skill programs ? 27.38% 52.78% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No From the above graph we can analyse that 27.38%consultany tie up with academic institutions for collaborative skill programs whereas 51.78% do not tie up.
  20. 20. 8.Do you conduct seminar and workshop for fresh candidates & pursuing candidates ? 29.76% 50.40% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No From the above graph we can analyse that 29.70% of consultancy conduct seminar and workshop for fresh & purusing candidates whereas 50.40% consultancy do not conduct seminars.
  21. 21. 9.Do you agree that academic should focus on practical studies rather than theory? 60.32% 7.54% 12.30% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No Both From the above graph we can analyse that 60.32% of consultancy agree that academic should focus on practical studies, 7.54% say that they should focus on theory and 12.30% say that they should focus on both practical and theory.
  22. 22. 10. Do you agree that fresher’s expectations are unrealistic about the first job? 64.68% 15.48% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No From the above graph we can analyse that 64.68% of consultancy think fresher’s ecpectations are unrealistic about the first job whereas 15.48% do not agree with it.
  23. 23. 11. Do you agree that demand of jobs in market is less as compared to supply of management students? 55.16% 25.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No From the above graph we can analyse that 55.16% of consultancy agree that demand of jobs in market is less as compared to supply of management students whereas 25.00% disagree.
  24. 24. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Team development/teambuilding Recruitment and selection Facilitation and training Learning and development Remuneration Strategic HR advice incl.development and implementation of strategy and policies Performance management incl. poor performance/discipline Leadership development incl. coaching Organizational review and structures Diversity management & Employee/industrial relations advice Culture/Change management HR strategy and planning incl. workforce planning Team development/t eambuilding Recruitment and selection Facilitation and training Learning and development Remuneration Strategic HR advice incl.developme nt and implementatio n of strategy and policies Performance management incl. poor performance/di scipline Leadership development incl. coaching Organizational review and structures Diversity management & Employee/indu strial relations advice Culture/Chang e management HR strategy and planning incl. workforce planning High 24.14% 89.66% 19.21% 18.72% 42.36% 7.39% 1.97% 0.00% 0.00% 0.00% 0.09% 44.33% Neutral 10.34% 9.85% 33.00% 28.57% 30.05% 0.99% 5.91% 6.90% 2.46% 2.46% 0.00% 11.82% Low 18.72% 0.00% 9.85% 7.39% 4.43% 1.97% 0.00% 9.36% 4.43% 0.00% 2.46% 19.70% High Neutral Low 15. Working through this table, consider what are your key areas of expertise and rate the same priority wise, that you serve to your client (Candidates and Industry both) as a human resource professional and Consultants.
  25. 25. 16. Working through this table, consider how do you Market your expertise & Contact to your potential clients, Rate the same priority wise. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Contacting existing colleagues/contact Participating in networks (eg. Business Networks) Seeking referrals from colleagues/contacts for follow up Making public presentation (eg. Business seminar, conference paper etc) Mail out of information on Company and candidates Cold calling (contacting people who you do not have connection with) Advertisement (in Newspaper, Social networking sites etc) Contacting existing colleagues/contact Participating in networks (eg. Business Networks) Seeking referrals from colleagues/contacts for follow up Making public presentation (eg. Business seminar, conference paper etc) Mail out of information on Company and candidates Cold calling (contacting people who you do not have connection with) Advertisement (in Newspaper, Social networking sites etc) High 59.11% 30.54% 31.53% 8.37% 62.07% 31.03% 37.44% Neutral 12.32% 26.60% 35.96% 8.87% 6.90% 25.12% 10.84% Low 17.73% 19.70% 10.84% 24.14% 0.00% 6.90% 32.51% High Neutral Low
  26. 26. Findings  Major number of the consultancies which we have targeted are working in the IT and the HR area. Very low of the firm are working in academics and other areas.  Most of the consultancies recruit fresher’s in their consultancies at the junior level. But as trainee they are not priority.  Almost most of the consultancies are placing the new candidates or freshers at the corporate level i.e Bottom level, Middle level, and top level.  Generally most of the consultancies place and recruit in their own consultancies to the students on both permanent and contractual basis. If the consultancy place a student in industry over contractual basis the contract is between industry and candidate.  According to the consultancies the freshers are placed based on both academic performance and KSAO’s.  There are very few consultancies who collaborate with the institutions for the different types of the programs.
  27. 27.  Sometimes the consultancies arrange free seminars and workshops for the fresh candidates and pursuing students.  The consultancy emphasises on the practical studies over theoretical studies in the institutions  There are some consultancies who are agree that there are less demand of job then compare to the supply of management students.  The employees of the consultancies, to satisfy there clients sometimes creates healthy relations with them.  The consultancies give more priority to their basic work recruitment & selection and managing remuneration compared to all other their expertise activities.  Priority is given by the consultancies to the mail out, contacting to their current colleagues and cold calling for contacting with people and marketing them self. Some of the consultancies makes public presentation as in seminars, conference papers etc Cont…
  28. 28. Conclusion  Study of the resource management at graduate & post graduate level in India is based on various kind of sectors as in an organization in the business, industry or service which is a vast & diversified study for students to understand the practical approach beyond the level of academic education.  Quality in accordance with the quantity engaged by employer requires a Constance process with upgraded version of information & sources which provides the better results that is needed to be applicable & understible by the students of HRM  Through practical workshop & seminars by professionals, experts & Consultancies itself.  Industry expects proper attitude, commitment, dedication, self-discipline, strong analytic, listening and communication skill, aptitude and willingness to learn, knowledge of the organization and processes within the organization from the selected candidates.  At corporate level with high efficiency and technical skilled HR engaged whereas, on the bases of potentiality & knowledge without experience, rarely been noticed by the consultancies.  A collaborative steps should be taken by both educational institutions and HR consultancies for preparing futuristic steps based on requirement of current and future demanded situations which sharpen the skills of students into professionals.
  29. 29.  Article:  Identifying the skills for consultants working in project-based organizations (A glimpse into the Mexican consulting industry), 2007. By: Isaac Lemus Aguilar & Ernesto Mosso Vallejo  B.Rajasekaran, S. Rajasingh (April 2009). Perceptual chasm between industry and academic leaders on the quality of higher education, Journal of academic leadership, USA, Vol 7.  Kristina Winbladh (2004). Requirement engineering: Closing the gap between academic supply & industry demand, Crossroad: The ACM student magazine, 2004, 10.4.  Abu Hamatteh, Z.S.H. and Al – Jufout, S. A. (2003). Educational outcomes Vs the world new industrial & economical demands: Jordanian electrical & mining sectors as a case study, Pakistan journal of information & technology, 2 (1): 78-82, 2003.  Green, Diana, Ed, What is quality in higher education? Society for research into higher education Ltd. London. Bibliography
  30. 30.  Sites:  http://www.eaie.org/blog/matching-employer-needs-with-student capabilities/  http://www.nytimes.com/2012/11/11/jobs/bridging-the-hiring-gap-for college-graduates.html?_r=0  https://www.wetfeet.com/articles/industry-overview-consulting  http://www.scribd.com/doc/12998751/Analysis-of-Consulting-Industry  http://www.wetfeet.com/  http://mgt.buffalo.edu/career/students/prep/research/tools/resources/ consulting/industry  http://blogs.wsj.com/indiarealtime/2012/12/12/study-less-than-10-indian-mbas-employable/  http://www.plunkettresearch.com/consulting-market-research/industry-and-business-data/statistics  http://www.careercommission.com/2013/11/conceptual-framework-skill-gap-analysis/  http://blogs.wsj.com/indiarealtime/2012/12/12/study-less-than-10-indian-mbas-employable/  http://gulfnews.com/life-style/education/gap-between-academia-and-industry-1.1221285  http://www.hindu.com/edu/2008/07/14/stories/2008071450270200.htm  http://yourstory.com//2012/05/youth4work-bridging-the-gap-between-academics-and-industry/  Book:  Basic Research Methods – By Gerard Guthrien.
  31. 31. Thank You….

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