People have always looked-up to Infosys, Wipro, TCS and other service giants to create the next million jobs to employ engineers, most of these companies have had a dream run for the past few years providing huge employment opportunities for engineers.
Their dream run seems to have come to an end; most of the companies are announcing cutbacks in employment, let alone adding new people to their work force. Does this mean most of the smart engineers will soon be out of job?
Wondering where the next million jobs will come from?
Indian Startup ecosystem is having a promising run; will the new breed of start-up companies generate the next million jobs? Only time can answer this question, but the startup ecosystem has shown early promises and we can only hope that they will scale soon to support the large available talent pool.
According to NASSCOM, Indian startups have added more than 70,000 jobs; at this rate they should soon be able to surpass big IT service companies in job creation.
Working for a startup sounds very cool and challenging. There are lot of individuals who want to be part of the startup bandwagon, but are not sure if they will fit the fast paced startup culture. Some of them are unable to quit their full-time jobs and take the plunge into startup jobs due to lack of confidence and a sense of false security provided by their existing jobs.
Attracting the right talent is difficult for early stage startups
In today’s hyper competitive environment, it is very difficult to attract great talent. It gets worse if you are a startup. Start-ups are hard pressed for resources; both time and money, getting timely resource augmentation could make or break the start-up.
Big pay checks in large companies and a comfortable 9-5 jobs pose a challenge for startup hiring, as most early stage companies are unable to match the salary and comfort levels that people are used to.
There are lot of startups who have a great business plan and early traction, but unable to scale quickly due to resource challenges. Niche skill resources are a scarce and hiring them for a startup is an uphill task.
Can freelancing bridge the hiring gap for early stage startup?
Freelancers are a great option for early stage startups searching for great talent to complete short term niche jobs. Founder members can focus on developing the core product and get expert freelancers to handle non-core but important tasks for their startups.
By using freelancers startups can reduce time to hire, get to market quickly; startups can always hire full-time employees later when they have great customer traction and money in the bank. One can always hire the freelancer, if he/she is a good fit for the company, rather than hire someone based on few interviews.
Freelancing challenges, are Hyperlocal Freelancers the answer?
Start-ups most often do not have complete clarity of tasks and they need resources who can work with some degree of agility. Since start-ups are pressed for time they will not have detailed documentation to handover tasks to a freelancer. Having someone to work closely with the start-up team to complete the tasks becomes very important.
Startups need quick hiring support; they cannot go through the traditional cycle of interviewing, short-listing, etc. before the person can start contributing on a task. Start-ups cannot afford to wade through the long processes to on-board freelancers for short-term tasks. Startups often need the ability for freelancers to closely co-work with them to complete tasks. Remote freelancers can be very difficult to work with, given the time-zone and co-ordination challenges. Freelancer can provide great support to startups, if they can be co-located and work along the start-up teams to complete tasks and help them get to the next stage.
Hyperlocal Freelancing has promise and is a very exciting opportunity in startups and SME’s, but has its own flavour of challenges, one has to be aware of and be present to the changing needs of startup companies.
Hyperlocal freelancing can be a great option to help startups, if great local talent can be augmented meaningfully with startup teams to create value.