PAY IS UP AS TALENT IS SCARCE IN STARTUPS – Job Surge for People with Niche IT Skills

People with certain niche tech skills can expect a surge in opportunities at startups, with more than 5,000 jobs likely to be created this year, according to estimates from Nasscom, placement firms, startups and venture capital funds. The demand for data analysts, machine learning artificial intelligence experts, UX UI (user experienceuser interface) designers, cybersecurity and product development experts is outstripping supply. Salaries for these roles are rising, in some cases by up to 50%.

“Building talent pool with critical tech skills is a priority at startups as they are now focused on building scale and value,“ said Nasscom senior vice president Sangeeta Gupta. “With over 1,000 startups being created every year, the demand would be about 5,000 to 8,000 (jobs) for techies.“

Pay is up as talent is scarce. “This year, the salaries for tech talent at startups would see an upward revision of at least 50%,“ Gupta said.

However, raises will be limited to product and technology teams at startups, said Rituparna Chakraborty, executive vice president, TeamLease.

“Salaries for non-techgeneral skills at startups would remain flat,“ she said.

Those in demand are people with four-six years of work experience with annual salaries of ` . 10-20 lakh.

Companies are looking at engineering resumes with that sort of experience in the software development space across functions, said Siby Joseph of ManpowerGroup India.

At the top end, say for big data scientists, salaries can exceed ` . 1 crore.

The trend was confirmed in conversations with executives at half-adozen startups and a few venture capitalists. Startups such as LimeRoad, BankBazaar, MobiKwik, Razorpay, Voonik and InMobi are busy hunting for such workers across all levels while VCs like IvyCap Ventures and White Unicorn Ventures are helping their portfolio companies hire such people. Placement firms including ManpowerGroup, Kelly and TeamLease echoed this theme.

The demand is also being fuelled by those setting up local hubs. “With global startups like Uber and GrabTaxi also looking to set up research centres in India, the demand for these skills will only increase,“ said Manasi Jain, senior consultant at Aon Hewitt.

IvyCap Ventures and White Unicorn Ventures, both early stage VCs, are together seeking about 350 such workers for companies they have invested in.

“We are looking at hiring at least 250 people with profiles like data scientists, artificial intelligence, robotics, ethical hackers, etc. for our portfolio companies,“ said Vikram Gupta, founder of IvyCap. White Unicorn expects its tech hiring to double as the year progresses, said principal founder Rohit Chokhani.

At LimeRoad, the hunt is on for people with two to four years of experience in core category problem-solving skills and data scientists who can iron out consumer issues.“Technology and data roles would continue to be the key focus across ecommerce as with scale, these investments provide the highest leverage,“ said Suchi Mukherjee, CEO of LimeRoad.

Over the next year or so, InMobi is looking to hire a minimum of 28 people while Razorpay plans to hire more than 40.

“With a strong focus on product development, our tech hires will be spread across roles of product designers, back-end and front-end developers, mobile developers and engineering managers,“ said Anuradha Bharat, head of people operations at Razorpay. Mobikwik is looking to hire from product-based organisations that have developed products with mass impact, said HR head Ashish Bansal.

Kelly Services India, a recruitment services firm, sees a surge in requirements for Android, front-end and back-end professionals, said managing director Thammaiah BN.

The trend may not be too good for lower-end jobs. “With the advent of warehouse management systems, chat bots etc., some of the basic work in startups may see automation and hence a reduction in headcount at those levels,“ said Jain of Aon Hewitt.

Source-The Economic Times

Date-04-04-2017

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