Not long ago, the unicorns of Indian startup ecosystem were in the news for mass layoffs, when they fired hundreds of employees from their companies citing non-performance.
Experts had then observed that the stagnant market directly affected the business of companies, which caused them to take desperate measures and layoffs were the part of it.
Now, as the market has obtained the growth graph, the unicorns are on talent acquisition spree.
Four unicorns — Snapdeal, Paytm, ShopClues and Flipkart — makeup around 90 percent of all job postings, according to recent data from global job site Indeed.
“Indeed’s latest study reveals that more than half (57 percent) of all job postings by unicorns are for fresh graduates. This is encouraging for millions of young freshers looking to jumpstart their careers with young companies, and being a part of the exciting startup ecosystem,” said Sashi Kumar, Managing Director at Indeed India.
Snapdeal topped the chart in terms of percentage of total job postings at 53 percent, followed by Paytm at 23 percent, ShopClues (11 percent), Flipkart (4 percent), Zomato (4 percent), Ola Cabs (3 percent) and InMobi (2 percent) among others.
Besides, the region that saw a maximum number of postings from these companies is Delhi NCR, with an overwhelming majority of 83 percent.
The report added that the Indian e-commerce market is expected to grow at 30 percent a year, and attain a valuation worth $200 billion by 2026. With the market growth, Indian unicorns such as Snapdeal, ShopClues and Flipkart are experiencing a boom in business.
Moreover, digital service providers like Paytm and Zomato too are thriving, given the government’s demonetisation drive and push for cashless transactions and the widespread penetration of mobile literacy.
Kumar further said, “our earlier study on job flexibility also indicates a trend towards contractual hiring in these firms, which reaffirms the growing affinity among today’s new-age job seekers, who look at striking a balance in work-life integration”.