Long period of layoffs and slowdown in new jobs now startups will focus on recruitment – StartUp News

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After a long period of layoffs and hiring slowdown, Indian startup sector hiring is expected to grow by about 7 percent this year. Human resources (HR) firm TeamLease has given this information.

Let’s take the example of Zepto which is the first unicorn of 2023. Adit Palicha, co-founder and CEO of quick commerce company Zepto, said that the company is preparing to increase recruitment on engineering posts. He’s also giving talks on professional networking platforms like Grapevine to explain how companies recruit.

“We are going to make a lot of appointments,” Palicha told Business Standard. In the last 29 months we have hired 200 engineers. We are expanding our engineering team and hiring an engineer every other day. He said in a session on Grapevine on December 10, 2023 that users can contact the company’s HR team for technical positions.

Many startups are also returning to campuses to meet the growing demand for entry-level roles.

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E-commerce unicorn Meesho has recently announced that it will acquire products, analytics from various institutes like IIT Bombay, IIT Kharagpur, IIT Kanpur, IIT Madras, IIT Roorkee, Indian Institute of Science (IISc), IIM Lucknow, IIM Kozhikode etc. in 2023. , has made over 150 hires for various roles like Business, Finance and HR.

Rohit Pandey, head (placement cell), Greater Noida Institute of Technology (GNIOT), said, ‘Startups did not make much recruitment in 2022, but the pace of recruitment by startups increased in 2023. The hiring by startups from our campus has increased by about 30 percent this year.

Around 28 startups had visited the GNOIT campus in the recruitment season of 2022. In the year 2023, this figure will increase to more than 35. Pandey said, ‘This year the recruitment figures by multinational companies have decreased. But this has been compensated by product based startups which are also offering attractive packages.

The number of startups coming to the Noida campus of Amity University has also increased. In the recruitment season of 2023, around 100 startups visited the campus and 225 students got placements. Whereas in 2022, 46 startups visited the campus and 121 students got placements. So far this year, 20 startups have visited Amity University’s Noida campus and a total of 80 students have been recruited.

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An email sent to IIT and IIM institutes for recruitment related information did not receive any response till the time of writing the news.

According to experts, this year, large startups operating in areas like fintech, e-commerce, direct to customer (D2C) and emerging technology will play a leading role in recruitment. Many startups have turned to campuses to meet the demand for lower and entry-level roles.

This will provide great relief to those students who have been affected by the slowness in appointments. Also, this phase of boom in recruitment is coming even after retrenchment.

In the year 2023, about 100 startup companies including unicorns had laid off more than 15,000 employees. A recent report by NASSCOM-Zinnov also said that more than 65 per cent of technology startup founders have claimed to be hiring in 2023. There has been an increase of up to 20 percent in the recruitment of these startup companies as compared to a year ago.

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According to data from employment solutions firm TeamLease EdTech, hiring at technology and e-commerce startups is expected to grow by more than 7 percent between January and June 2024 compared to the same period last year. Neeti Sharma, co-founder and president, TeamLease EdTech, said, “Startup companies that had raised funds under Series A and B are actively hiring.

First Published – January 28, 2024 | 10:29 PM IST

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