The Business Bytes
JAYAJIT DASH
In a world where job security is often elusive and the future uncertain, start-ups have emerged as champions of fresher hiring. They are not just creating jobs but shaping careers and inspiring young people to take control of their lives, writes noted columnist Jayajit Dash
THE balance of power is shifting in India’s IT sector. In recent years, the top IT vendors known for providing job security and promising career paths, have stepped back from the euphoric hiring sprees they had been on. Due to global macroeconomic headwinds and clients cutting back on discretionary spending, Indian IT titans, such as Tata Consultancy Services (TCS), Infosys, and HCL Tech, have seen their hiring slow down and, in some cases, even reduced their workforce. While the job market has been relatively stable in recent years, the industry giants are now focusing on reducing their operational costs and conserving their cash reserves. This scenario has mellowed hiring, as companies are trying to pare their headcount and focus more on retaining employees they already have.
Amid this bleak hiring outlook, start-ups have emerged as an unexpected savior where the big tech giants have shown hesitancy to hire freshers. In an otherwise uncertain employment landscape, small e-commerce and technology start-ups offer hope to the fresh graduates. The research firm TeamLeaseEdtech predicts that these nimble newcomers will increase their hiring by over 7% compared to the previous cycle.
Start-ups that have received funding and are seeking to expand are bringing on freshers as part of this rescue operation. Students and recent graduates have a tremendous opportunity to learn, grow, and be part of something big from the beginning. Rather than climbing the corporate ladder, these young talents are building it. It’s like planting a seed, watching it grow, and blossom into something beautiful. The fresh perspective and enthusiasm they bring are invaluable for any company.
Ankit Aggarwal, Founder & CEO of Unstop, a community engagement and hiring platform, notes that even non-tech companies are hiring more freshers. In addition to providing opportunities across a broad spectrum of fields, these companies recognize the fresh perspectives and ideas that the freshly minted graduates can bring to the table.
During the Covid-19 pandemic, the top Indian IT companies led the charge in hiring, sensing the vast opportunities promised by digitalization. As reality sunk in, the massive wave of hiring did not match the influx of projects. The industry began to feel the pressure on payroll, resulting in layoffs and workforce rationalization. Freshers found hope in start-ups during these times of uncertainty.
In the start-up world, most hiring occurs at the junior level as big companies trim their workforces and prepare for global challenges. Delhi/NCR, Bengaluru, Mumbai, and Hyderabad are expected to hire significantly at this level. Besides absorbing new graduates, these start-ups provide them with dynamic environments to thrive and learn.
Over and above the technology sector, start-ups are reshaping the landscape in healthcare, emerging technologies, AI/ML/deep tech, and fintech. Fresh graduates now have more options in these sectors, further cementing the idea that they have more employment options than ever before.
The changing IT hiring landscape is a testament to the Indian job market’s resilience and adaptability and the changing times. Due to their ability to pivot quickly, adapt to market demands, and embrace fresh ideas, start-ups are now at the forefront of fresher hiring. By empowering recent graduates, they are transforming them into tomorrow’s trailblazers.
In a world where job security is often elusive and the future uncertain, start-ups have emerged as champions of fresher hiring. They are not just creating jobs but shaping careers and inspiring young people to take control of their lives. Start-ups lead the way in IT hiring, proving that fresher hiring can thrive even in challenging times with the right environment and mindset. So if you’re looking for a job, remember: don’t give up, just start-up!
(The author is a compelling content writer who revels in writing at the intersection of technology and policy ecosystems, has the flair to project emerging technologies in an intelligible light for the benefit of the lay reader. He is currently engaged as a Senior Manager (Corporate Communications) with Bhubaneswar-headquartered IT consulting company CSM Technologies.)
