New Delhi: A significant percentage of early-stage startups are looking to increase their workforce this year, mainly through new project orders, additional funding from investors, and expansion strategies, says one study.
According to the FICCI – Randstad Startup Hiring Trends Survey, 80.49% of all startups surveyed said they plan to increase hiring in 2023, and 15.78% plan to keep their existing headcount, with the majority of them It says it’s in the early stages.
Over 300 startups participated in the survey.
“With the emergence of several new-age innovative organizations in various sectors, the Indian startup ecosystem will make a significant contribution to India’s economic growth in the coming years. These start-ups will ultimately create unique employment opportunities and career paths, innovation and competitiveness in the world of work,” said Viswanath PS, MD and CEO of Randstad India. .
Nearly 80% of early-stage startups with less than 20 employees today are looking to expand their workforce aggressively in 2023. According to the survey, they are actively trying to recruit new talent.
“The dynamic work environment of a startup provides an ideal training ground for aspiring entrepreneurs, who then launch their own startups.
“This will create a virtuous cycle of growth, adding jobs and firms with each successive cohort. The start-ups that have left their mark across India will create jobs and economic opportunities not only in major cities, but also in India. A key partner in our growth story,” said Rohit Bansal, Chairman of the FICCI Startup Committee.
Overall, the sectors with the highest hiring appetite are Healthcare (13%), IT/ITes (10%), Agri/Agritech (8%), AI/ML/Deeptech (7%), Fintech ( 7%) included. cents) and manufacturing (7%).
The survey further shows that 54.38% of startups attribute high turnover in the industry to factors such as better salary packages offered by large companies and concerns over job security for startups. . Other factors contributing to the decline of startups include a lack of clarity regarding career advancement and credibility.
When it comes to the hiring challenges faced by startups, the main factors include lack of required skills, expected salary mismatch, and potential candidates’ reluctance to join startups due to concerns over risk perception. It is included.
PTI
