A large Indian IT services provider changed offers made to campus recruits by downgrading their salary and the role. I have covered this in a previous post here.
In thinking about this, few more thoughts occurred to me on what else the service could have done.
The Contracting Model, With a Twist
Hire the recruits for reduced pay. Or put them on a profit share for work delivered. Provide them tools and resources, much of them readily available on the net for free, to be independent contractors. Let them work from home. The cost of a computer and connectivity are negligible. The recruit gains valuable work experience and has your brand name in addition. And you get work done for a much lower cost.
For a little risk, you put them on a pay for performance, without the usual overheads of a full-time employee.
High Risk, High Reward Ventures
Be an innovation hub. You have the customers, market visibility and global presence. Choose areas that are a little ahead into the future for exploration by these resources. Tie them up with NDAs etc., pick an area for them to attack.
Become a incubator for new products and services, decentralize and encourage the hacker ethic.
Build the next market. The bottom end of the pyramid has need of your intellectual power. Use it to provide solutions to the rural market. Let the resources think out how they could use IT to better the lives of the people in the villages and towns.
Invent your own markets and name your profits.
That is it from me, what would you propose?