In the survey of 300 startups, about 16% of those ventures, mostly early-stage startups, said they have plans to keep their existing headcount.
Updated 3/28/2023 | 8:11 PM
Good news for job seekers!Early-stage startups to ramp up hiring this year, study says
In the survey of 300 startups, about 16% of those ventures, mostly early-stage startups, said they have plans to keep their existing headcount.
More than half of the startups surveyed say they face high turnover due to factors such as better salary packages offered by larger companies and concerns about job security at startups.
Overall, the sectors with the highest hiring intentions are Healthcare (13%), IT/ITes (10%), Agri/Agritech (8%), AI/ML/DeepTech (7%), Fintech ( 7%), and manufacturing (7%). Hyderabad and Pune have emerged as regions with a strong desire to recruit for senior positions.
About 92% of startups surveyed said their hiring decisions are primarily driven by new project orders, additional funding from investors, and expansion strategies.
More than a third of startups expect jobs to grow by 30% or more. The survey said that hiring is mostly at junior and mid-levels.
The majority of surveyed startups say ESOPs can serve as an effective means of retaining employees. Over 40% of his surveyed startups have already implemented ESOP as their retention strategy.
“Exclusive research by Randstad, conducted in conjunction with FICCI, reveals that the majority of early-stage start-ups show strong hiring intentions. It is a testament to the strength of our diverse talent pool,” said Viswanath PS, Managing Director & CEO of Randstad India.
