Thursday, November 30, 2023

Creating liberating content

Discover Siranna: Newest exclusive...

The Board of Directors of NEOM has unveiled...

Goa demarcates ‘safe swim’...

A Goa government-appointed agency has demarcated 'safe swim' and...

Thailand allows night clubs,...

Reuters | | Posted by Zarafshan Shiraz,...

Sri Lanka offers free...

Aimed at boosting the tourism sector, Indian tourists...
HomeNewsUpdatesMore startups looking...

More startups looking for skilled gig workers as hiring dips 36%: Report



Pooja Malik ( )

While startups are slowing down hiring employees full-time, many are now looking to partner with skilled gig workers, as per a half-yearly insights report by RazorpayX Payroll, the business banking platform of Razorpay.

While the rate of hiring went down by 36.45% in the past six months, the demand for gig workers—earning more than Rs 1,50,000 a month—increased by 21.38%, the report noted. The headcount of gig workers operating in the business department grew the most—by 28.24%—while the finance department witnessed a headcount growth of 20.18%.

Also, though hiring full-time employees across all departments slowed down in the past six months, onboarding in sales and marketing teams have grown by 20.61%. The hiring of full-time CXOs and senior executives declined the most (36.02%) during this period.

The salary spending for full-time employees has increased by 23.07% while for gig workers, the total salary payouts rose by 20.94%. The average salary for entry-level jobs took a dip of 13.36%, indicating a gradual decline in the CTC for freshers. Also, the average salary of CXOs grew by 10.29% in the last six months, the report noted. 

 RazorpayX Payroll Insights

RazorpayX Payroll Insights

The number of reimbursements to employees too has grown by 15.75%, reflecting the inclination towards a hybrid work culture in the past six months.

According to Ayush Bansal, VP and GM, RazorpayX, the data reflects that startups are increasingly leaning towards automated platforms, reducing operating costs and making payroll compliance efficient.

“Startups continued to remain bullish on hiring skilled gig workers last year. This trend promises a brighter future with more opportunities for specialised workers, giving rise to a new era of work and work culture with greater flexibility and freedom,” he said.

The report observed shifting trends in hiring patterns, salary distribution, and modes of employment in the last six months by analysing payroll data (October 2022 to March 2023) of more than 26,000 employees across 20 sectors currently using RazorpayX Payroll.

Neo-banking platform RazorpayX serves more than 45,000 businesses and has seen over 200% growth in its payouts business and has disbursed payouts with an annualised money movement of above $30 billion. It also recently launched forex services for startups.





Source link

Get notified whenever we post something new!

spot_img

Create a website from scratch

Just drag and drop elements in a page to get started with Newspaper Theme.

Continue reading

Discover Siranna: Newest exclusive tourism escape unveiled in Neom, Saudi Arabia

The Board of Directors of NEOM has unveiled Siranna, an exclusive tourism escape, and the latest destination to be announced by the sustainable regional development evolving in northwest Saudi Arabia. ...

Goa demarcates ‘safe swim’ and ‘no selfie’ zones at beaches amid tourist rush

A Goa government-appointed agency has demarcated 'safe swim' and 'no selfie' zones at beaches in the state, a spokesperson said on Wednesday. The agency, tasked with...

Thailand allows night clubs, karaoke bars to stay open for two extra hours in popular tourist destinations

Reuters | | Posted by Zarafshan Shiraz, Bangkok Thailand's cabinet has approved a ministerial regulation that extends the opening hours of night clubs and entertainment venues in a...

Enjoy exclusive access to all of our content

Get an online subscription and you can unlock any article you come across.