When I was running training institute iPap Academy, companies usually say this.
"If a fresher is ready to contribute from day#1 with out any further training, we are ready to pay you 1.5 months of salary. That is a great advantage for us, we will not be wasting 2-3 months in training them before we can put them in billing for clients."
In general the people, who they hire from the training institutes, are ok, they generally go through further training, specific to the work they will be doing.
We always see this divide,
companies need capable people, and at the same time some
people with potential need jobs.
Slowly I feel this is not the real issue. The real issue is with government policy to generate more people than needed for these jobs.
The disadvantage with training institute model is out of the people who join the training, very few people have the potential. So lot of effort goes in a diffrent way, the only solace is the people with focus and determination get some or the other job after training, due to their pure focused effort. Motivation and hope plays key role with these people. With out that your entire effort will be like pouring drinking water in sea.
Have tried different fee models, like...
- Job is Garenteed, 25K, 3 months training.
- Just 20K, if you don't like the training at any point in the 3 months, 20K will be returned. // we have actualy returned to people who told after 1.5 months, they don’t want to continue. With this gesture from us, standing on our words, peoples' trust on our academy increased many folds.
- Total 20K, first give 10k, once you get job give 10K. // they used to ask how will we get jobs, do you have any connections. We said you get job on your own, you will walkin, give interview and get job. Oh really, they could not beleive. Once they got job, we asked them to pay 10K, they said, we got job on our own effort, why should pay you. 180 degree differece from the point they come-in and to the point they leave for a job.
- Just 10K, training.
- Rs 1/- for 10 days programming training to learn 100 algorithms. // We actually gave the receipt for Rs 1/-. The receptionist was irritated, that we are wasting bill book, but it is what makes people discuss about institute.
- Pay 40K, if you don't get job in 4 months, we will return you 25K. // This was an interesting model, but we did not execute. But I beleive this is the right model, when you can hold the money in the bank, till 4 months without spending on something. This will work wonders, if you have the right dicipline with money and you are capable of making them industry ready.