India's Got Talent ... that startups need to try harder to attract
India's got talent but the startups are having a tougher time attracting and retaining this talent.
ESOPs, an all-time favourite retention instrument among startups and e-commerce firms, are losing their magic to draw top talent according to the Times of India. This is obvious with the chips going down for e-commerce and startups, and valuations hitting a new bottom. According to leading headhunting firms, Heidrick & Struggles, Longhouse Consulting, BTI Consultants India, Hunt Partners India, RGF Executive Search, the supply for talent at the top is drying up by almost 50%. In just a year, it is getting tougher for search firms to attract top talent despite heavier toppings of ESOPs as part of compensation, these firms said.
"It was already a scramble for talent at the top. Unlike a year ago, it is getting even more difficult to attract top talent in the e-commerce and startup space," said Vikram Chhachhi, a principal at Heidrick & Struggles' Mumbai office. The valuations have become more realistic and caution reigns. "All this is making it more difficult to attract talent. Even the e-commerce companies have become more selective," he added.