Business Standard

77% cos believe startups aiding employment scenario in India: Report

A survey has revealed that 77 per cent of respondents believe these new-age firms have a positive role in boosting the employment scenario in the country.

jobs, employment, companies, corporate, people

Press Trust of India Mumbai
With India being one of the largest hubs for startups in the world, a survey has revealed that 77 per cent of respondents believe these new-age firms have a positive role in boosting the employment scenario in the country.
According to the survey by human resource solutions organisation Genius Consultants, over 77 per cent of respondents agree that the startup space has a positive role in aiding the transformation of the employment scenario in India.
The respondents strongly agree that startups have helped in creating more job opportunities and have employed many budding talents and given them a space to grow organically, it added.
The survey was conducted online by Genius Consultants among 1,121 HR heads and C-suite executives across sectors, including banking and finance, construction and engineering, education, FMCG, hospitality, IT manufacturing, media, oil and gas, pharma, real estate, retail, telecom, auto and ancillary, among others.
The survey further revealed that the IT sector is the largest contributor in the startup ecosystem in generating employment at 33 per cent, followed by healthcare (26 per cent), hospitality (25 per cent) and e-commerce (16 per cent).
Regarding the level of employment, most respondents stated that these new companies are increasingly keener on hiring freshers and entry-level employees, followed by mid-level employees at 25 per cent and senior level at 11 per cent.
Over 88 per cent of the respondents also believed that startups are making a huge impact in shaping the economy of the country.
Increasing number of startup success stories and unicorn transformations are a testament to their contribution and potential to affect the economy of India, both in terms of generating employment and contributing to the GDP, the respondents said.
"The startup ecosystem in India is growing at an exponential pace and is responsible for employing millions of Indians working in different areas in different sectors. It has rapidly innovated and has provided us with high-tech solutions that have resolved many pressing issues and concerns in various domains," Genius Consultants CMD R P Yadav said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 20 2022 | 8:02 PM IST

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