Startups looking to hire more freshers; half of their postings targeted at newcomers: foundit

The overall hiring index has shifted from 276 in March 2024 to 300 in April 2024. According to the foundit Insights Tracker, there was a 9 per cent increase in hiring which indicated a recovery in employment opportunities. The tracker also highlighted a 37 per cent increase in the number of startups since last year.

Over the last few years, startups have played a major role in increasing employment opportunities for the youth, with a 14 per cent increase in the total number of jobs provided by startups.

Startups are looking to hire more freshers (with 0 to 3 years of experience), for 53 per cent of all the jobs available, the tracker suggested.

Sekhar Garisa, CEO, foundit (previously Monster APAC & ME), a Quess company, said, “Startups are increasingly leaning towards recruiting fresh talent, with over half of their job postings targeted at newcomers. In this market, young professionals should differentiate themselves by picking up relevant skills and not solely rely on their professional degrees. "

Startups in the IT (Information Technology) services sector noted a steady increase in jobs, from 20 per cent to 23 per cent between April 2023 and April 2024. However, startups in the Internet, BFSI/Fintech, and Media & Entertainment industries witnessed a slight fall in hiring from April 2023 to April 2024. Meanwhile, startups in the Education/E-learning/EdTech industries reported stable growth in April.

In terms of the top job roles, sales position vacancies have rapidly increased over the past year, with an increase from 9 per cent in April 2023 to 23 per cent in April 2024. Product-related job roles also showed signs of improvement, transitioning from 8 per cent in April 2023 to 9 per cent in April 2024.

Job roles that have shown a decline in demand include IT, Consulting, and Marketing.