In the startup industry, almost 17,000 workers were let go last year. Despite this, 79% of job applicants continue to prioritize landing a position with a startup. The Mint and Shine Talent Insights research made this clear. According to the report, young people are picking startups as their first choice because of the high salaries, stock options, quick professional progression, and ability to learn new things.

Given the extensive hiring that IT businesses perform, it is still a crucial industry for junior and middle management. Startups are also actively hiring engineers. According to the survey, which was carried out in the quarter from October to December, mostly favors hierarchy and hasty decision-making in modern businesses. Increasing confidence in startups across industries Despite concerns about the economy and severe layoffs, startups are now the top destination for employment.

That’s Why Startups Are Becoming Preferred

17,000 layoffs took place in the startup sector in India last year, but still the study revealed that because founders and workers frequently collaborate, there is a quicker exchange of information, ideas, and solutions to problems here than there would be in a huge firm. In addition, there is the potential for a career that will advance quickly. Additionally, a unique draw is the better pay compared to large corporations. Candidates believe that after working for the company for two to three years, they may launch their own business. Startups are defying established market norms by not only becoming the new location for employment prospects for individuals, but also by fostering the development of new skills.

Fund Crunch And Recession Not Afraid Of

Startups remain people’s favored industry despite a lack of funding and the global crisis. At the same time, major IT companies announced the closure of appointments with layoffs during the previous two quarters. As a result, startups are a realistic choice for programmers, AI, and machine learning specialists.