KIAMS Joins Hands With IIM Ahmedabad To Bring About Transparency In Placement Reporting Standards The Indian Placement Reporting Standards (IPRS) process is aimed at bringing about transparency, uniformity and comparability to campus recruitments. KIAMS was one of the 20 B- schools in India who wholeheartedly adopted the IPRS process. Pune (I- Newswire) November 21, 2011 - The Indian Placement Reporting Standards (IPRS) process is aimed at bringing about transparency, uniformity and comparability to campus recruitments. KIAMS was one of the 20 B- schools in India who wholeheartedly adopted the IPRS process, setting a new and welcome benchmark in management educationâ€Ś The Indian Placement Reporting Standards (IRPS) process was introduced in July 2011 in an effort to bring greater objectivity and uniformity in the manner in which Indian B- schools report salary and non- salary information related to placements. The Kirloskar Institute of Advanced Management Studies (KIAMS) was one of the 20 B- schools to adopt the IPRS process, establishing itself as one of the founding members in the process of bringing about transparency, honesty and consistency in the reporting of placements figures by MBA institutes. Speaking about the relevance of the IPRS Dr. Gopal Iyengar says, "Currently, with no standard reporting format, reporting of placements statistics is skewed to the purpose of the stakeholder who reports it, leaving a lot of doubts about its veracity as well as utility for other stakeholders; this includes the recruiters, the institutes, the current and prospective students. Recruiters use placement variables to attract students to their companies; the flip side is the dissonance often faced by students between what they imagine the offer is and what transpires on joining. " The Indian Placement Reporting Standard works in two ways when it comes to the dissemination of information: When recruiters communicate the offers to the institute or the students, and; When the institutes communicate the same to the media. The recruiters have to present information regarding the offer in a certain format and will have to specify the components of the salary in detail. This was done primarily to standardise the process and thereby help students make an informed decision while choosing a Bschool. B- schools such as KIAMS who are adhering to the IPRS will report the minimum, maximum, mean and median of the fixed base salary and other guaranteed cash components separately for each sector, location and function. The IPRS redefines the CTC (Cost to Company) salary communicated in placement reports to the Maximum Earning Potential (MEP), which will clearly represent the compensation that includes long- term and performance- linked variable pay. MEP is directly relevant to the individual as compared to the CTC which is which is relevant to the company. They will also report summer internships numbers divided into those arranged by the B- school and those arranged by the students on their own; this will be further divided into those that pay a stipend and those that do not. After the placements are done with, they will release an interim unaudited report to the public and the media. The standardised placement report will be released three months later, after the school updates the salary data with the actuals based on the information gleaned from their graduates after they have joined the companies, and finally, the report will be audited externally. This will, in effect, be the precise placement report of the school while ensuring that the privacy of the students and recruiters is protected in all public and media communication. In a congratulatory message to KIAMS, Prof. Saral Mukherjee, Associate Professor and Chairperson- Placement Committee, IIMAhmedabad adds, "The IPRS website (http:// www.iimahd.ernet.in/ iprs/ index.php) provides the names of the institutes which are now members of the IPRS. All member institutes are expected to release their audited placement reports for 2012 in the IPRS format. These audited reports would be uploaded on the IPRS website. I thank you again for joining us in this journey. We look forward to feedback on how to make the IPRS website more meaningful and user- friendly." Dr Iyengar says, "The year 2012 has just begun for us and we will be adopting the IPRS. We have ventured in an area where some angels fear to tread. At one level it was seamless for us because this is precisely what we have been practising in our own way over the past few years. To the extent that data is available to us, we have shared it with the concerned stakeholders. We have not shied away from declaring our actual placement percentage even in adverse times. We do not see any advantage in not being transparent, for that surely seeds dissonance at some point or the other, with some stakeholder or the other." The success of the IPRS depends on the willingness of India's B- schools to accept it. And considering that one of its objectives is to prevent the use of employment reports as marketing devices to attract students and employers, the standardised process, adopted by KIAMS along with only 19 other MBA institutes, will only bolster their confidence and credibility even further.
The success of the IPRS depends on the willingness of India's B- schools to accept it. And considering that one of its objectives is to prevent the use of employment reports as marketing devices to attract students and employers, the standardised process, adopted by KIAMS along with only 19 other MBA institutes, will only bolster their confidence and credibility even further. http:// kiams.ac.in/
Additional Resources About Kirloskar Institute of Advanced Management Studies: In the fast, furious, frantic environment that today's organizations work in, second place is not an option. "Anything goes" is the code. And time itself is against you. We believe that's when you need to take time off. To hone your skills. And then hone them again. To catch a breath, and then catch up on the latest. To get set, before you go. Nestled on the banks of river Tungabhadra, is a 6 acre setting that allows you to do just that. One that inspires creative thinking and clears the mind before unleashing it again. It is an idyllic yet intense atmosphere. Welcome to KIAMS. A Brief Profile: For over a century now, the Kirloskar Group of Companies, one of India's largest industrial conglomerates, has been growing and enriching lives. In 1991, KIAMS was conceived as a training institute and a knowledge hub where Kirloskar Group managers shared their learning and caught up with the latest movements and concepts n management. In 1995, the training institute was opened to managers all other the country. Activities: Management Development Programs - for training and consulting education for industry executives Consultancy - in India and abroad Research Company Contact Information: Kirloskar Institute of Advanced Management Studies Mr. Gururaj K Khasnis Gut No. 356 & 357, Near Tata Foundry Village Dhamane, Taluka Maval Pune - 410 506. Maharashtra (Indi Yantrapur Harihar - 577 602 Karnataka (India) Pune - 410 Phone: (08192) 241269 Published in: Education Tags: kiams kirloskar institute of advanced manageme top b school iprs Published on: November 21, 2011 Original Source: KIAMS Joins Hands With IIM Ahmedabad To Bring About Transparency In Placement Reporting Standards
Published on Nov 21, 2011
Pune (I- Newswire) November 21, 2011 - The Indian Placement Reporting Standards (IPRS) process is aimed at bringing about transparency, unif...