According to the survey, hiring activity among startups has dramatically grown in April despite the economy’s difficulties.
Online hiring activities for white-collar jobs declined in April compared to the year-ago period amid a challenging environment for businesses, according to a report.
According to the survey, hiring activity among startups has dramatically grown in April despite the economy’s difficulties.
The market for new and emerging employment positions was up, according to discovered it Insights Tracker (fIT), despite a 6% fall in e-recruitment for white-collar jobs in April compared to the same month last year.
“The current state of the world economy is unclear, making it difficult for firms to operate in a setting that is changing quickly. Although hiring has decreased, there are still many job prospects in growing industries for job searchers, according to CEO Sekhar Garisa of foundit (formerly Monster APAC and ME), a Quess subsidiary.
He claimed that despite the ongoing difficulties in the job market, the Indian startup ecosystem has changed and is shown resiliency in hiring intent.
Although cautious hiring attitudes are expected to continue, Garisa continued, “We remain optimistic about job opportunities for candidates, especially as startups continue to drive the demand for talent and innovation.”
Based on data from its platform from April 2022 to April 2023, Foundit Insights Tracker was created.
Although the edtech industry was among the top 5 recruiting sectors in the startup ecosystem, it held a significantly higher stake the previous year, according to the survey.
According to the report, there was also a sizable demand in the startup employment market from other industries including BFSI/fintech and media and entertainment.
However, it added, healthcare and BPO startups displayed a lack of interest in hiring.
Startups have posted more jobs as a result of increasing hiring throughout metro areas, and strong hiring has also been observed for remote employment.
According to the report, Bengaluru (33%) had the greatest percentage of startup employment, and demand was also noticeably high in Delhi, Mumbai, and Pune.
For job searchers in developing industries, the report’s finding that the retail industry has risen by 22% Year-on-Year (YoY) is encouraging.
According to the research, e-commerce has considerably fueled this expansion, with some of the biggest online retailers now based in India.
According to the report, this expansion has raised the need for trained workers on the shop floor and opened up a lot of options for those looking for jobs in retail.
Additionally, it said that employment in the travel and tourism sector has increased by 19% YoY as a result of the summer’s surge in domestic and foreign travel.
According to the survey, the job market for the telecom industry rose by 14% YoY, placing it among the top three industries that are actively hiring.
Additionally, it stated that the strong need for cybersecurity professionals is due to society’s growing reliance on technology and digital platforms, which has therefore increased the number of cyberattacks and data breaches.
NGO/social services (11%), advertising, market research, and public relations (7%), oil and gas (3%) and shipping/marine (2%) are some industries that have experienced annual growth momentum.
On the flip side, as businesses watched their spending on talent acquisition, the BFSI (4%) and BPO/ITES (13%) sectors continued to see a fall in hiring.
A large decrease in hiring was also observed in April compared to the same month last year in other areas such as healthcare, biotechnology and life science (16%), import/export (19%), agro-based industries (20%), and IT-hardware/software (22%).
