randstad - FICCI startup hiring trends report 2023.

The Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with Randstad India Private Limited has undertaken a “Startup Hiring Trends Survey” to understand and analyze the expected hiring trends for startups in India in 2023. Over 300 startups participated in the survey with 77% of the startups being in the early stage.

• The survey depicts that almost 80% of the early stage startups currently having an employee strength of less than twenty are looking to increase their workforce in 2023
• 92% startups stated that their hiring decisions will chiefly be driven by new project orders, additional funding raised from investors and expansion strategies. 
• 32% foresee increasing hiring by over 30% followed by 28% companies planning to increase the hiring in the range of 11-20%
• Sectors which show the highest hiring intent are healthcare, aerospace & defence, energy where startups foresee increasing the workforce by over 30%.  Other key sectors which predict hiring in the range of 11-20% are agri/agritech, AI/ML/deeptech, edtech, automotive, ecommerce/delivery services
• 38% startups stated that they will hire at junior level followed by 27% companies anticipating mid-level hiring.