Source | qz.com
A decade or so ago, India’s business process outsourcing (BPO) industry was infamous for its record-high attrition levels. Now, the country’s technology startup industry has taken over that mantle.
In fact, by some estimates, the employee churn rate at startups is worse than it was for BPOs.
Currently, the attrition rate at Indian startups ranges between 50% and 80%, industry experts estimate.
“That (BPO) was an easier talent to fill. You wanted people to speak [a] certain language in a certain way. You were looking for soft skills,” said Zairus Master, CEO of job portal Shine.com. “What we’re looking for in startups is sometimes unique skills. There has to be [a] high degree of entrepreneurship, [a] high degree of ownership, [a] high degree of making things happen,” Master added.
The talent shortage in startups is, thus, a deeper problem.