Startups witness decline in hiring; struggle with attrition: Study

With a decline in hiring due to the drying up of funding following geopolitical scenarios, Indian start-ups also continued to struggle with the retention of talent during the 2022 calendar year, according to a study.

There has been a 44 per cent decline in hiring in the startups during October-December 2022 compared with the January-March quarter, following ‘funding winter’ in the sector, CIEL HR Services monthly forecast study – Latest Employment Trends in Start-ups revealed on Monday.

The sector also witnessed a high level of attrition as start-up employees preferred stable jobs, higher pay and a better work-life balance, it noted.