Business

About 80% Startups Are Actively Hiring To Increase Workforce In 2023: Survey

Startups are often the driving force behind job creation. Speaking of, while tech companies are aggressively firing employees, startups are bucking off the trend and actively hiring. This is a positive sign for the economy. Recently, a joint survey was conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Randstad India. More than 300 companies took part in the survey. According to the report, nearly 80% of early-stage startups intend to increase staff in 2023. While more than 57 per cent of startups are seeking new employees on a permanent basis, about 43 per cent intend to hire temporary and gig workers.

A startling 92% of the 300 startups survey depicted that the optimism surrounding their hiring choices was primarily motivated by new project orders they secured, additional financing they raised, and the growth plans companies had in store.

Only 15.78% of startups, the majority of which are in the early stages, plan on retaining their current headcount. Meanwhile, more than half of the surveyed startups attribute the high attrition rate to things like higher pay packages provided by bigger companies and worries about employment security in a startup.

A positive sign for the economy: Vishwanath PS, MD and CEO, Randstad India believes that the emergence of new-age innovative organizations across sectors will result in significantly contributing to the development of India’s economy over the coming years. “These startups will eventually go on to create unique employment opportunities and career paths, innovation and competitive dynamics in the world of work,” he further added.

Sectors showing the highest intent to hire are as follows

 

The healthcare sector will be adding 13% of the staff.

IT/ITes will be hiring 10% more employees.

AI/ML/DeepTech , fintech and manufacturing will be employing 7% more people.

Hyderabad and Pune are beginning to stand out as areas exhibiting strongest of intentions to hire for senior-level jobs.

 

 

 

 

Malika Sahni

Recent Posts

Adani Ports Mundra Sets National Record With Historic 200 MMT Cargo Handling Milestone

Adani Ports & Special Economic Zone set a national record by handling 450 MMT of…

2 mins ago

SC Seeks Response On Vikas Yadav’s Bail Plea In Nitish Katara Murder Case

SC issues notice to UP govt, Neelam Katara on Vikas Yadav’s interim bail plea in…

16 mins ago

SC Slams Telangana CM Over Remarks On BRS MLAs’ Disqualification Case

The SC expressed displeasure over Telangana Chief Minister A Revanth Reddy’s remarks regarding the disqualification…

29 mins ago

Jamaat-e-Islami Hind (JIH) Opposes Waqf Bill; Calls It Legislative Discrimination

JIH President Syed Sadatullah Husaini condemns the Waqf Amendment Bill for singling out Muslims and…

50 mins ago

India’s Raw Silk Production Sees Growth; Employment In Sector Rises

India’s raw silk production hit 34,042 MT by January 2025, Minister of State for Textiles…

1 hour ago

Passenger Vehicle Sales In India See Marginal Growth In FY25

India’s passenger vehicle (PV) sales rose 2.6% year-on-year in FY25, impacted by a high base…

1 hour ago