Hiring of top-level professionals in start-ups shrank 82% in Q4FY22: Report

New Delhi, Jan 17 (KNN) The Indian start-ups witnessed a sharp decline in the senior leadership hiring, which dropped 82 percent in the fourth quarter of 2022, according to a report on ‘Latest Employment Trends in Start-ups’ by CIEL Works.

The start-up report also pointed out that 64 percent of start-up employees were willing to move to a “stable” job. Of them, 47 percent cited job security as a concern, followed by the absence of work-life balance (27 percent) and better pay (26 percent).

The report is based on an analysis of 60,704 employees working in 60 start-ups in India. The data was collected using job portals.

Overall, the Indian start-ups cut hiring by 44 percent in the fourth quarter of 2022 from levels in the first quarter of last year, survey showed.

With start-ups facing turbulent times, attrition continued to be a major hurdle for them. Although attrition rates are high, the average median tenure in start-ups increased to 1.9 years vis-a-vis 1.7 years about six months ago.

Average tenures in other sectors are much longer – ITES (5.8 years), FMCG (4.1 years) and MSME manufacturing (3.6 years).  (KNN Bureau)