Since April 2014, RBI has issued 23 new banking licenses. While 3 have dropped out, 11 of the remainder, have commenced operations. These include 2 full service banks (IDFC and Bandhan), 7 Small Finance Banks and 2 Payment Banks.
As they transform, they are planning their campus recruitment strategy for this year. The first few years, will set the tone. The campuses where they start, and have a good experience , will be the ones they will visit year after year for campus placements.
How do you ensure, you are part of this select campus list?
- Their strategy will revolve around the T2 and T3 B Schools; as their push will be in Branch Banking. All these banks, have the key mandate of financial inclusion. That means, banking for individuals. Branch Banking roles such as Customer Service Officer, Branch Relationship Manager, will be the focus.
- They will choose 30-50 campuses, to start with. This will be from among a pool of ~ 200 similar tiered B Schools.
- Banks and NBFCs are large recruiters of marketing students. So, this initiative will work for both your finance and marketing students.
After speaking to Recruitment Heads from these banks, we have four valuable action items for you. Do use them well.
1. Connect to the right person:
First, we need to connect with the right people, in the company. Let’s see how to do this.
Use LinkedIn -invest in a premium account. Find two contacts:
- The Head of Retail, or Branch Banking: Their main hiring, will be in this area – so let’s impress this Business Head. His/her team, will be on the selection panel.
- The Head of Recruitment – more commonly called ‘Talent Acquisition’.
Either connect with them on LI, with a brief, powerful cover note or; ‘derive’ their email via the format email@example.com. The former is a better option.
2. Ensure the right pitch:
How do you ensure, an effective communication?
This has two parts to it. One, which is generic across all recruiters. And two, specific to the banking industry.
For the first part, ensure that your collateral – mail and brochure – are different. Most placement brochures look the same, and mostly land up in the trash.
So, a brief 1-2 page brief, with the highlights is best. Keep the detailed student profiles etc in a separate, downloadable pdf.
For the second part, commit to the banks, that they are important to you; you have taken the steps to ensure that your students are ready for them.
How can you do this?
1. Your students must have the knowledge and the certifications, which make them job ready for a career in banking. These certifications, must be relevant to the roles they’re looking at. So, for example, an NCFM certification on Financial Markets, might not provide the requisite knowledge.
www.learnwithflip.com offers the only such options, in India. In fact, banks like HDFC, Axis, Kotak Mahindra are all signatories to this certification, where they say “We prefer/give weightage to a FLIP certified candidate.”
Tell the recruiters, that you are taking this initiative, to ensure they get bright, job ready students. If the bank is on Finacle, you can even get your students take a FLIP – Finacle certification.
Note: You must do this for marketing students, also. They should all have at the least, a Google Adwords certification on their CVs.
2. Ensure that your students have the Industry awareness:
Put in place an Industry Insights course. Students MUST know:
- The major happenings in the banking industry
- About the company – its background, the key management, the basic difference between a Small Finance or Payments Bank and a regular commercial bank
- They MUST read the newspapers – at least the headlines – starting a month before.
If the institute needs to make this a full credit course, or allocate weightage to this effort, please do it. There is NOTHING that gives a worse impression than the student having no idea about major events , or about the company – for example, what makes say a Small Finance Bank, different, from an ICICI Bank?
There is great coverage, we can recommend for campus placements prep, which will ensure that a student is ready for in any interview. But, we’ll cover that, in the next post. Let us know if you’d like such a post.
Campus Placements will be here, before you can say ‘Janalakshmi Bank’. So, get ready now. If there are more insights you would like from us, let us know!
To discuss how FLIP can help in improving your campus placements, contact us at: firstname.lastname@example.org (or) leave your contact details in the below comments.