Start-ups make up for freshers hiring amid slowdown by IT firms

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The sectors depicting the highest hiring intent include the healthcare sector, emerging tech sector for AI/ML/deep tech and fintech, according to data by research firm TeamLease Edtech.

 

Amid the slowdown in the hiring of IT professionals by the big tech giants, the start-ups in the e-commerce and technology sectors are expected to increase hiring by over 7 per cent compared to the January-June hiring cycle.

The sectors depicting the highest hiring intent include the healthcare sector, emerging tech sector for AI/ML/deep tech and fintech, according to data by research firm TeamLease Edtech.

There is still a good chance for freshers to join other companies that are at a growth stage, said Ankit Aggarwal, Founder & CEO, Unstop, community engagement and hiring platform. “Start-ups that have received funding and are looking to expand are focusing on bringing freshers onboard, which gives these students a good chance to learn and grow. In fact, non-tech new age companies are also opening more roles for freshers and are giving them the opportunities in a diverse set of fields,” he said.

While Hyderabad and Pune are emerging as regions exhibiting strong intent to hire for senior-level positions. The mid-level hiring is prevalent across Kolkata, Bengaluru, Mumbai, Chennai, Pune and Delhi/NCR. The majority of the hiring in start-ups is happening at the junior level — Delhi/NCR, Bengaluru, Mumbai and Hyderabad are expected to hire significantly at this level.

Fresher hiring

The hiring intent for freshers overall has marginally improved to 65 per cent for July to December 2023 — a 3 per cent increase from the first half of the year, according to data by TeamLease Edtech. Employers are exploring various ways to engage with fresh talent such as full-time employment, apprenticeships linked with continuing education and gig workforce.

As for start-ups, the intent to hire is skewed towards junior and middle levels, with nearly 40 per cent of start-ups are keen to hire junior workforce while about 30 per cent are looking to hire mid-level employees.

Bangalore led the way when it comes to the top cities that intend to hire freshers in the second half of the year at 65 per cent, followed by Mumbai and Chennai. “While the tech start-ups continue to hire freshers, the volumes will not be at par with what the tech companies used to hire. While hiring in the IT industry has seen a slowdown, we have seen that with all sectors undergoing massive digitalization, even non-tech industries such as BFSI, healthcare, FMCG, retail, logistics, e-commerce, automotive , manufacturing amongst few others have increased the tech hiring for their requirements,” said Neeti Sharma, Co-founder and President, TeamLease Edtech.

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