The industry is going through a good many upheavals recently with the startups flowering up every now and then. This also includes the fast employee movement from the middle to the senior management levels in the well established organizations. The employees are moving on to the newer and greener pastures called startups for a unique experience perhaps, say the business experts. This also is happening due to the value proposition that they receive while their responsibilities, roles and pay packages are changing. There are also a good many changes in their future graphs.
Heads and middle management officials move from the IT sectors, the FMCG sectors to the startups and this is perhaps due to the meaningful changes in aspirations that they might be heading to in life and that which the younger generation is already achieving while working at the startups.
Funding has also increased at the startups through the venture capitals and the private equity companies lending a lion’s share to these startups that have started living up to their expectations in every way, reports sources. This has been recently skyrocketing in the e commerce and technology arena. The budgets for hiring employees have also gone up to some meteoric rise. Higher availability of budget or funds and prospects of better growth have lured the talented professionals towards the startups presently, says one of the higher officials at an established organization.
The Managing Director of a hiring company, well established has to say that the hiring trend has also changed in the present times. He opines that the professionals who have scaled great heights by proving themselves at the established organizations are willing to take the plunge at the newer startups in order to prove themselves once again. These professionals, however, could have carried on well for another 15 years at the helm of the previous well established firm. And yet, they prefer the risk of joining startups. These are professionals for IT, e commerce and others who are seen to move to the new startups.
The experts from HR hiring services say that the attrition level of professionals goes higher in the well established companies because they risk their present jobs to join startups for better prospects. Startups also attract the fresher through the campus interviews. This was never the past day scenario in India.
The startups have also been offering stock options for tempting them into the new jobs which also helps to hold back the professionals for a long term. This is some value addition for the employee and the IPO or the initial public offering that he receives is much greater than what is offered to him at any of the established companies. An increased number of employees is always looking to find greater prospects and career opportunities and the startups have been providing a mix and match of all these factors of requirements to the employees. The major arenas for all these hiring is going on at the services, e commerce, retail, mobile applications, cloud platform, security, mobility, data analytics and all these arenas.
Well funded startups, according to the experts have been fishing out the best professionals from the various industries while the startups that are non funded have to still struggle to get good professionals due to less budget in their booty. They have to be contended with professionals that fit their budget at present.