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Startups set to create more jobs amid fintech, healthcare boom

New initiative to streamline recruitment process?

More than 80 per cent startups in India are planning to increase hiring this year, a joint study conducted by industry body Ficci and Randstad on startup hiring trends revealed. 

The study also states that hiring will mostly occur at the junior and mid-levels. Approximately 37.97 per cent of startups have indicated that they intend to recruit more junior-level employees, while 27.27 per cent of respondents are planning to focus on mid-level hiring.

Interestingly, a large number of them—45 per cent of the startups are looking to hire semi-skilled employees and another 41.50 per cent of them are seeking highly skilled professionals.

This would mean that many who are categorised as semi skilled will get employment opportunities.

According to the study, the sectors depicting the highest hiring intent include the healthcare sector, IT or ITes, agri or agritech, artificial intelligence, fintech and manufacturing; while Hyderabad and Pune are emerging as regions exhibiting strong intent to hire for senior-level positions.

In terms of hiring challenges faced by startups, the primary factors include a deficit in requisite skills, mismatches in salary expectations, and a reluctance among potential candidates to join a startup due to concerns over risk perception.

Another 15.7 per cent of the startups, most of which are in their early stages plan to maintain their existing headcount.

Also read: Despite fall of Silicon Valley Bank, Indian startups raise $791 Mn in a week