India’s burgeoning start-up ecosystem is being driven by several factors – innovation, upsurge in funding, growing support from Government’s initiatives and much more. Coupled with contributing to the Indian economy, start-ups are fast becoming one of the major employment creators across sectors. While start-ups created 80,000 jobs in FY15 (as per a recent NASSCOM study), reports suggest they will create over 2.5 lakh jobs by 2020 which is a testament of the tremendous growth and enthusiasm which the Indian start-up ecosystem is witnessing.
India ranks 3rd among the global start-up ecosystem and with the rise in employment in start-ups, it is essential that the candidates entering the workforce are suitably skilled or ‘start-up ready’. While scaling up remains the topmost priority, start-ups have also become cautious about the talent they bring on-board.
A recent study conducted by Aspiring Minds on the start-up hiring scenario in India has revealed some really fascinating trends about the way they are evolving. The study showcases that as much as 47% of the entry level hiring in start-ups is comprised of professionals in non –technical roles. This comes as a startling revelation against the popular notion of start-up hiring being focused only around technical profiles. While tech profiles like web and app developer continue to be in demand, the surge in hiring for roles in marketing and digital media amongst others is an indication that start-ups are more and more focusing on a larger go-to market strategy instead of only a product based approach.
The study also highlights that the surge in start-up activity is not restricted only to metros. While Delhi, Mumbai and Bangalore continue to be the start-up hubs of the country, tier II cities are not far behind. Chandigarh, Jaipur, Indore, Lucknow and Ahmedabad are amongst the many cities showing very promising start-up activity.
One continuous driving factor for these start-ups is their need for skilled manpower. The fight for the best talent is not just restricted to the mature ones but also active amongst newbies. This is where data driven pre-assessments are becoming critical in their growth path from a talent perspective.
- Ensuring that they hire right
- For start-ups, it is absolutely critical that they hire right and at the same time have a recruitment process that is fast and reliable. Objective standardized assessments that can be delivered anywhere, anytime with optimum security are the best choice.
A renowned fashion e-tailer experienced 70% increase in high performers after recruiting through AMCAT's pre assessed talent pool.
- Evaluating quality talent
- Many start-ups do not boast of extensive recruitment mechanisms which makes interviewing hundreds of candidates extremely challenging. Hiring through a pre-assessed pool of candidates allows for an optimum utilisation of their time and resources as the interactions are restricted to candidates who are best suited for each role.
Hiring from a pool of pre-tested and pre-qualified talent has helped start-ups cut down on their recruitment time by as much as 65%.
- Recruiting from a range of specialized skill assessments
- Indian start-ups are maturing at a rapid pace which has also evolved their needs beyond hiring top tech talent. Changing market dynamics have given rise to the need of talent with highly specialised skills sets. AMCAT helps employers assess candidates for 100+ job roles and 1000+ competencies and access to these validated assessments have proven to help hire the right people who have potential to become high performers.
An overview of the recent hiring trends resonates with the rapid growth the start-up ecosystem is witnessing. Backed by state-of-the-art assessment technology and machine learning algorithms, AMCAT is proving to become an effective predictive assessment tool for start-ups to hire in a standardised, scalable and cost effective manner while helping find the ‘right’ talent.