STARTUP SPECIAL.... TECH STILL FLOATS THEIR WORLD

TECH STILL FLOATS THEIR WORLD

Megha Mandavia

Mumbai





Despite layoffs, startups & tech cos remain the most sought-after workplaces in India, says a LinkedIn study

Thousands of job losses and painful transitions notwithstanding, startups and technology companies remain the most sought-after workplaces in India, according to a study by professional social network LinkedIn. Flipkart beat Amazon again, to remain the most attractive company for an Indian jobseeker, the study showed. One97 Communications, the parent company of fintech startup Paytm, made a debut on the list at rank 4, food delivery app Swiggy at 15, and hyperlocal delivery app Grofers at 22. Ola moved up five slots to become the fifth most coveted company, while OYO Rooms inched up 7 places to rank 9. KPMG India inched up 2 slots to rank 3.

The list of top 25 companies is formed by a combination of LinkedIn data including reach, engagement, job interest, retention and an editorial lens. It's based on the actions of job seekers and professionals with editorial oversight, highlighting the companies most sought-after today . “There is clearly a trend that industry disrupters are getting a preference. Ola has disrupted urban mobility and it is resonating with the job seekers. OYO has disrupted the hospitality industry for budget travellers,“ said Irfan Abdullah, Director Talent Solutions at LinkedIn India.

He, however, pointed out that not all startups have remained attractive for employees as the industry adjusts to a more cautious investor sentiment. Housing, Snapdeal and Zomato did not make it to the top 25 this time. Alphabet, Google's parent company , slipped down four slots to rank 8.

“Well-funded startups are still hiring. Companies that are doing well on the business model front are well capitalised and they still attract employees,“ he said. “It is a mixed bag. There are startups that are struggling and what I increasingly see is that employees, as potential candidates, are asking more questions. Earlier it was herd mentality .“

Last year, Indian startups saw an erosion in valuations of the poster boys amid global competition and criticism of their unsustainable business models. The fall in valuation, some top-level exits, and crunch in capital led to job cuts.

Surprisingly, following the same trend, Indian Information Technology (IT) companies -which are laying off thousands amid changing demands, automation and protectionist visa policies -continued to remain attractive to potential employees.

HCL Technologies moved up two slots to ranks 6, Capgemini slipped 8 places to rank 11, Wipro slipped 4 places to rank 18. Tech Mahindra made a debut at 14.

“The reality is that IT companies are still big employers if you look at the sheer volume. I feel some of these companies have communicated what they stand for even in these tough times.These companies still remain aspirational,“ LinkedIn's Abdullah said.

He also noted that, more than half of the 25 most sought-after companies are Indian homegrown companies.

ET15MAY17