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FY'22 witness Increase of 123% in Senior Executives & CXO Hires by Startups: Report

FY'22 witness Increase of 123% in Senior Executives & CXO Hires by Startups: Report

Senior-Executives and CXO level roles  saw the highest increase in headcount of 123% in FY'22, found RazorpayX Payroll Insights.

 

While junior level roles (monthly CTC 20k-40k) where employee headcount increased by 92%. Mid-level and Entry-level roles grew by 86% and 63% respectively.

 

Despite the second and third waves of the pandemic, organizations saw growth of 84% in employee headcount from April 2021 to March 2022. In fact, 28% of the organizations grew more than double in strength over the year.

 

 

Operations & Logistics departments reported the highest increase in personnel of 172% in FY'22, witnessing more than a 2.5X headcount growth from FY'21. This was closely followed by Sales & Marketing departments which grew by 148%. Technology teams saw an increase in headcount by 80%. This trend indicates that while businesses have been on a revival phase, they are rebuilding their teams aggressively.

 

Salary spends doubled over the year, in fact grew by 102% over the year with a total of INR 1489 crores processed. Mid-Level and CXO level salaries grew by 8% and 6% respectively, in March 2022 as compared to April 2021, suggesting that organisations were hiring and promoting.

 

Contractor payments increased by 132% and so did the number of contractors by almost 88% in FY'22. This indicates that organizations are increasingly relying on independent workers including gig workers and freelancers for some of their operations.

 

 

Reimbursements paid to employees increased by 209% with hotel-related reimbursements seeing the highest increase of 629%, followed by travel related reimbursements that grew 5x (416%), and fuel reimbursements (233%). Internet Reimbursements dropped by 37% in FY'22, indicating that employees are returning to offices and work-related travel is back. Interestingly, Reimbursements for telephone bills increased by 157% over the year which is a possible indication of hybrid work arrangements for day-to-day work.

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