In the wake of the funding boom, Indian startups are in a hiring frenzy, but is it sustainable?
Dear reader,
There is optimism in the air. How quickly things have turned for tech startups in India. If last year was all about tightening the belt and letting go of employees that are excess to requirement, in 2021, the Indian tech industry has become a hiring market. Demand has gone through the roof for tech talent, and the talent war has only just begun.
One only needs to look at the amount of funding raised by Indian startups in the past year to gauge the growth trajectory they have set for themselves. Key in these growth plans is having the right talent and people leading the various aspects of the operations. Startups are paying record salaries to junior and senior employees across functions, which came to a head this week with BharatPe’s announcement of perks such as superbikes, gadgets and foreign trips.
It’s not just BharatPe; a host of well-funded startups are waging the talent war by not only offering material perks, but also ESOP payouts, wellness leaves and more — reminiscent of how competitive the IT services hiring had become in the late 1990s and early 2000s.
