The Hindu Business Line : ISB grad teams hired to float new businesses

Hyderabad April 6 Setting a new trend in corporate recruitments, the students of Indian School of Business (ISB) here bagged team-based recruitments for some entrepreneurial projects.

NIIT has for the first time, recruited 10 ISB students to handle large entrepreneurial projects as two teams of five members each.

"The five team members in each team will be completely responsible for executing the project in an end-to-end manner," Mr V.K. Menon, Placement Director, ISB, told Business Line. Incidentally, ISB is set to come up with its placements for the Class of 2006 shortly. From remuneration to the nature of job, every aspect is different from the normal practice.

The two teams would execute two large projects of NIIT in the areas related to education. Once the project is grounded successfully, the five-members of each team would be given an equity stake in addition to a regular remuneration, Mr Menon said.

Trendsetter

This could be a trendsetter in corporate recruitment for a variety of reasons. "On one hand, it encourages entrepreneurship and innovation and encourages young talent. On the other hand, it removes the hassles of team building for a company, as it would be putting in place entire top management of a project," he explained.

NIIT is confident that the new model would help in sprouting new business for it. "These are not projects but new business ideas which will be continued for a life-time," Dr S. Dey, President (Strategic Initiatives), NIIT, told Business Line. The problem of building a team would be solved with the method, he felt. According to Mr Sanjiv Kataria, Advisor, NIIT, it took about two quarters for the company to go about the process of examining various entrepreneurial ideas. "This is based on tested mechanisms and will fit into the firm's growth strategy," he said.

From the student's perspective, the prospects are exciting.

The project ideas have been kept guarded for obvious reasons. The projects have been conceptualised on the basis of joint efforts involving all stakeholders, according to Mr Menon.

About 80 students competed for selection in the projects.

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