Despite offering lucrative salaries and opportunists to new hires, Indian start-ups still struggle to retain talent, according to a study by Chennai based CIEL HR Services, a recruitment and staffing firm.
The reasons are pay hikes from other start-ups, start-ups lack upskilling resources and talent is unprepared for such dynamic environment. “Some of them go back to traditional companies for jobs. They are not able to handle the changes that happen in start-ups,” said Aditya Narayan Mishra, Director and CEO of CIEL HR Services.
He added that Start-ups especially in the IT and ITES sector are looking at hiring technical talent. According to the study, the title ‘Software Engineer’ is most prominent. Other job titles that are common are Product Manager; Engineering Manager; Cloud Engineer; Devops Engineer and Data Analyst.
The study further pointed out that over the last year, tech hiring has become increasingly cut throat as MNCs, traditional IT firms, start-ups among others are looking to grab top technology talent, leading to an astronomical gap in talent demand and supply. Within the IT & ITES sector, start-ups have most vacancies in IT function followed by engineering, and sales.
While a few traditional banking roles across underwriting, customer support and sales are likely to be lost to the fintech boom, many more are expected to be generated across product and compliance in the sector, the report said. BFSI analysis shows maximum vacancy in finance followed by IT and marketing.
CIEL’s analysis also showed that start-ups are making some strategic mid-level recruitments in keeping with their business vision. A 42% of the job postings are for mid-senior level, followed closely by associate level at 34%. Only 15% of the job postings are in the entry-level. Executive-level vacancies make up for 9%. The sample size of this study was 39,630 employees from across 54 start-ups.