Talent influx is on the rise but there are less takers; recruitment in startups drops by 50%
Advertisement
Recruitment in Indian startups has slowed down as the businesses are concentrating more on securing funds, posting profits and scaling up operations.
The hiring has dropped by 10-50% in many of the startups, even as talent influx is on the rise.
Recruitment in logistics, grocery and food delivery companies have slowed down and many employees are also being fired.
"We were getting about 100 requisitions a month from startups for senior and midlevel hiring 12 months ago. Today, we get a maximum of 30-40,” Joseph Devasia, managing director for India at Antal International, which works with more than 50 startups, told ET.
"With investors now asking companies to focus on profits and cut down on spends, hiring managers are more cautious,” Thammaiah BN, managing director at Kelly Services, told ET.
Meanwhile, even as various startups want to hire senior level executives to enhance operations, the plan gets scrapped during the board meetings.
Recently, Snapdeal handed over pink slips to employees in a bid to rationalise its operations.
Amid the hiring gloom, one of the sectors which is flourishing is fintech. The financial-technology startups are hiring due to India’s digital economy push.
"We are seeing more open positions in startups in the financial technology services sector post demonetisation across all three levels- senior, mid and entry,” Rituparna Chakraborty, cofounder of staffing firm TeamLease Services, told ET, adding “these companies are expanding aggressively and job requirements have almost tripled.”
Advertisement
The hiring has dropped by 10-50% in many of the startups, even as talent influx is on the rise.
Recruitment in logistics, grocery and food delivery companies have slowed down and many employees are also being fired.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
"With investors now asking companies to focus on profits and cut down on spends, hiring managers are more cautious,” Thammaiah BN, managing director at Kelly Services, told ET.
Advertisement
Recently, Snapdeal handed over pink slips to employees in a bid to rationalise its operations.
Amid the hiring gloom, one of the sectors which is flourishing is fintech. The financial-technology startups are hiring due to India’s digital economy push.
"We are seeing more open positions in startups in the financial technology services sector post demonetisation across all three levels- senior, mid and entry,” Rituparna Chakraborty, cofounder of staffing firm TeamLease Services, told ET, adding “these companies are expanding aggressively and job requirements have almost tripled.”
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas