Hiring for senior positions at new-age tech companies dropped significantly in the first quarter of 2023, down 80% compared to the same period last year, according to the report.
The e-commerce and edtech sectors were hit hardest, with employment plummeting by 93% and 84% respectivelyc.Continuing Downward Trend in Hiring Reveals New Report by Executive Search and Talent Advisory Firm LONGHOUSE Consulting on Hiring Trends for Senior Managers in Indian Startups from Q1 2023 to CY 2023 to
Anshuman Das, CEO and Founder of LONGHOUSE Consulting, predicts that the hiring scenario in the startup ecosystem will remain similar to Q1 over the next two quarters.
“Senior positions in high-paying jobs experience ongoing losses. Early-stage and pre-series A startups are projected to adopt, but growth- and later-stage startups will continue to be hit hard. Manufacturing of EVs, healthcare, AI or ML, fintech, and series A and B level early stage start-ups are expected to see increased hiring as several roles open for senior positions. ‘ he said.
Das also forecasts a surge in experienced entrepreneurs launching second or third ventures and experienced executives switching to entrepreneurship despite the current startup slowdown. increase.
The study was conducted based on new senior positions (CTC >50 LPA) received and tracked by LONGHOUSE Consulting in January-March 2022 and 2023.
