Startups to create 3 lakh jobs by 2020
Startups are likely to create as many as three lakh new employment opportunities in the next few years while 80 per cent of job-seekers are opting for such ventures -- which are already attracting funds from investors.
New Delhi: Startups are likely to create as many as three lakh new employment opportunities in the next few years while 80 per cent of job-seekers are opting for such ventures -- which are already attracting funds from investors.
According to HR experts, the startups employed about 50,000 to 60,000 people in the last year itself and the hiring outlook looks positive across sectors in the near term.
Research conducted by HR consultants also showed that a vast majority of up to 80 per cent job aspirants prefer jobs at startups, as compared to already established companies.
As per estimates of the talent assessment firm MeritTrac, the startup ecosystem in India may hire 2.5 -3 lakh employees by 2020. "Indian start up ecosystem is one of the fastest growing in the world. We are witnessing an unprecedented enthusiasm in the industry with respect to hiring for these start ups," MeritTrac Innovations and New Products Development General Manager Rajeev Menon said. The firm's research further showed that over 80 per cent of job seekers are willing to get associated with start-ups.
Echoing sentiments, HR services firm Randstad India CEO Moorthy K Uppaluri said that "in the last two years, we have seen a consistent increase in candidates preferring start-ups over other established firms and this trend is likely to grow".
Data provided by Career Shapers HR Consulting showed that venture capital firms invested about USD 1.06 billion (Rs 6,600 crore) in over 244 startups, during 2014.
"Indian start-ups are not taking baby steps anymore and have sufficient funds to sustain and hire experienced professionals," Career Shapers HR Consulting Principal Consultant & Director Pankaj Minglani said.