Startups, e-commerce companies may give fresh faces a miss this year
campus hiring from the Class of 2024 compared to last year, as a lack of visibility amid a prolonged funding crunch, layoffs and various other belt-tightening measures are prompting companies to narrow their hiring funnel, said recruiting managers and investors.
Campus hiring by startups in 2023 (from Class of 2024) will see a near 35% decline, according to a survey commissioned by ET to Ciel HR Services. The findings were based on responses from 75 startups and ecommerce firms employing more than 360,000 employees.
Most companies in edtech, fintech and SaaS do not yet have significant hiring plans from B-schools or engineering colleges this year, showed the survey.
However, companies in sectors such as direct-to-consumer, electric vehicles, logistics and product will look to strengthen their teams with campus recruits, though the focus will be more on candidates with specialised skills from Tier-1 and Tier-2 colleges. «We expect to see a decline in the hiring numbers at startups this year due to the funding winter, sluggish economy and investors' pressure to cut down costs,» said Aditya Narayan Mishra, chief executive, Ciel HR Services.
Amid the funding winter and layoffs, most startups don't have the time to train freshers, he added. However, ecommerce firms have an ongoing demand in sales and marketing as well as supply chain operations, he said.
E-commerce trend may continue
He added that they majorly hire them from top-tier educational institutes and this trend is expected to continue.
Ecommerce major Flipkart plans to have similar hiring numbers for freshers in 2023 as it had a year ago, said chief people officer Krishna Raghavan.
“While the overall number of freshers we plan to hire from engineering campuses and
