Despite the recession, some early-stage start-ups are planning to hire more people. Research shows this is driven primarily by new project orders, additional funding from investors, and expansion strategies.
More than 80% of startups are planning to increase personnel
According to the FICCI Randstad Startup Hiring Trends Survey, which surveyed 300 startups, 80.49% of all startups surveyed said they plan to increase hiring in 2023, while 15.78% plan to keep existing jobs. said. The number of people, mostly in the early stages.
Viswanath PS, Managing Director MD and CEO of Randstad India said: More importantly, these start-ups will ultimately create unique employment opportunities and career paths, innovation and competitiveness in the world of work. ”
Nearly 80% of early-stage startups with less than 20 employees today are looking to expand their workforce aggressively in 2023.
Research shows that these startups have secured Series A and Series B funding, are well-capitalized, and are aggressively looking to recruit new talent.
Rohit Bansal, Chairman of the FICCI Startup Committee, said: This creates a virtuous cycle of growth, adding jobs and firms with each successive cohort. Startups are leaving their footprints across India, creating jobs and economic opportunities not just in major cities, making them key partners in India’s growth story.
Recruitment Plans by Sector: Research
When it comes to different sectors, Healthcare (13%), IT/ITes (10%), Agri or Agtech (8%), AI/ML/Deeptech (7%), Fintech (7%), Manufacturing ( 7%) by intention of employment.
The study also sheds light on the industry’s turnover rate, which it attributes to factors such as better salary packages offered by larger companies and concerns over job security for start-ups.
There are other factors as well, as turnover is a lack of clarity regarding career progression and credibility.
On the flip side, key drivers of the hiring challenges faced by start-ups include lack of required skills, salary mismatch expectations, and potential candidates joining start-ups out of fear of risk perception. include hesitating.