Economic situation ...How Government R&D companies can make good use of it...

World scenario of financial market is grim. Every other company is slashing jobs to cut down the expenditure and remain functional. Opportunities of new recruitment is very less. Even elite institutions are facing problems in maintaining their track record of placements. Though companies are visiting campuses to keep their relationship with the institutions alive, but they are not taking number of students they used to take. The expected average salary is believed to be going down this year. In all this is going to be a very bad span for those who are going to start their corporate career this year.

Can we do any thing to make this bad situation good for something? I think we can. Before going to the solution let us take a look at the kind of job student prefer. In IIT's most of the undergraduate students prefer either financial/consultancy sector or oil sector jobs due to high pay package. Most of the postgraduates prefer core companies. Due to financial crisis all these sectors are not offering the number of jobs they used to offer, so students are now willing to compromise on their high demand of salary at the cost of good work.

Government sector companies should take the advantage of the situation to attract the best talent of the country that they may not be able to get if it would have been a good financial situation. As far as I know financial crisis does not affect Government sector R&D organizations because they have their fixed clients. But for this they may require some change in policy etc, and some out of box thinking. This would certainly be a win-win situation for both, the students as well as the companies.