Mumbai: The attrition rate among MB graduates remains a matter of concern, especially in entry-level jobs for top-tier campuses, a study said on Wednesday.
Deloitte Touche Tohmatsu India LLP's (Deloitte India) latest Campus Workforce Trends 2024 study has revealed that attrition remains a significant challenge, especially among MBA graduates.
It said that overall, at the all-India level for infants (new recruits), the two-year staffing rates for the top tier campuses are 21 per cent, 26 per cent and 2 per cent respectively.
However, these rates are slightly lower than the 19 percent, 21 percent and 25 percent for Tier II and III campuses, respectively, the report said.
Niels, Director, Deloitte India, said, “This year’s study reveals the serious need for organizations to rethink their retention strategies, especially for MBA graduates, where attrition rates are worryingly high.Innovative practices are no longer optional but essential to retain top talent in a competitive market,” said Gupta.
The study revealed that currently, four out of every five executives take decisions on appointment, salary, promotion etc. based on history or skills over the network, citing less bias and better impartiality.
“Thus, educational institutions need to equip students with versatile skills to succeed in the digital age,” he said.
Despite high attrition rates, 70 percent of organizations actively seek MB graduates, reflecting their importance in business success and a 5.2 percent CAGR in compensation over five years.
Meanwhile, the study found that year-on-year compensation at all levels of MBA talent and the top 10 levels for M.Tech and B.Tech declined for the first time in five years.It said this is reflected in a 26 per cent decline in pre-placement offers (PPOs) across all degrees and a 33 per cent decline in campus placement budgets.
This shift suggests a focus on strategic reallocation of resources to more thorough skills assessment and streamlined recruitment practices.
The study also revealed that internship and pre-placement offers (PPOs) by organizations reduced intake by an average of 10 percent and 26 percent, respectively.
The Deloitte India Campus Workforce Trends 2024 study is based on a comprehensive survey, including data from over 190 organizations and 500 campuses.
The study revealed that Bengaluru, Hyderabad and Chennai have different location preferences for different disciplines and have emerged as the top destinations for engineering graduates.In contrast, for students pursuing management degrees, the top three preferred destinations are Bengaluru, Delhi and Mumbai.
Deloitte Touche Tohmatsu India LLP's (Deloitte India) latest Campus Workforce Trends 2024 study has revealed that attrition remains a significant challenge, especially among MBA graduates.
It said that overall, at the all-India level for infants (new recruits), the two-year staffing rates for the top tier campuses are 21 per cent, 26 per cent and 2 per cent respectively.
However, these rates are slightly lower than the 19 percent, 21 percent and 25 percent for Tier II and III campuses, respectively, the report said.
Niels, Director, Deloitte India, said, “This year’s study reveals the serious need for organizations to rethink their retention strategies, especially for MBA graduates, where attrition rates are worryingly high.Innovative practices are no longer optional but essential to retain top talent in a competitive market,” said Gupta.
The study revealed that currently, four out of every five executives take decisions on appointment, salary, promotion etc. based on history or skills over the network, citing less bias and better impartiality.
“Thus, educational institutions need to equip students with versatile skills to succeed in the digital age,” he said.
Despite high attrition rates, 70 percent of organizations actively seek MB graduates, reflecting their importance in business success and a 5.2 percent CAGR in compensation over five years.
Meanwhile, the study found that year-on-year compensation at all levels of MBA talent and the top 10 levels for M.Tech and B.Tech declined for the first time in five years.It said this is reflected in a 26 per cent decline in pre-placement offers (PPOs) across all degrees and a 33 per cent decline in campus placement budgets.
This shift suggests a focus on strategic reallocation of resources to more thorough skills assessment and streamlined recruitment practices.
The study also revealed that internship and pre-placement offers (PPOs) by organizations reduced intake by an average of 10 percent and 26 percent, respectively.
The Deloitte India Campus Workforce Trends 2024 study is based on a comprehensive survey, including data from over 190 organizations and 500 campuses.
The study revealed that Bengaluru, Hyderabad and Chennai have different location preferences for different disciplines and have emerged as the top destinations for engineering graduates.In contrast, for students pursuing management degrees, the top three preferred destinations are Bengaluru, Delhi and Mumbai.
