News: Fortune 500 companies, startups hiring up three times

Recruitment

Fortune 500 companies, startups hiring up three times

Fortune 500 companies and unicorn startups hired 3x as compared to FY2020 amidst increased employee productivity and foray into tier-2 and tier-3 talent pools, says an Instahyre survey.
Fortune 500 companies, startups hiring up three times

About 97% of Fortune 500 companies, unicorn and startups have hired 3x as compared to the previous year having expanded during work from home, says a recent survey by AI-based advanced hiring platform Instahyre.

The survey was conducted with 1378 companies.

Interestingly, 49% of these companies using Instahyre have expanded their talent pipeline to tier-2 and tier-3 cities with the adoption of remote work.  Twenty-six percent of these companies have hired talent from overseas like South-East Asian countries and other countries of the Indian Subcontinent.

Considering the dynamics of work from home models amid the ongoing pandemic, Instahyre also conducted a survey to analyse the impact of work from home on business practices and employees’ productivity

For some employees, working from home has served several opportunities to work independently in more flexible hours. This has a positive impact on the productivity of employees as per the survey which says that 87% of the companies have noted that there has been a 36% increase in productivity per employee from work from home.

With hybrid and work from home models likely to be the norm in the future, organisations are investing in workforce management tools to help supervisors lead the workforce in the new normal. As per the survey findings, distributed workforce management tools spend have increased by 56% in forward-moving organisations. Apart from this, 73% of the companies have also increased their recruitment spending as they reported increased productivity.

To be more people-centric, mental health practices and spending have been increased by 98% and organisations have drafted new policies for the wellbeing of their employees, says the survey.

The trends have been observed in new-age enterprises and startups that provide an opportunity to employees to balance their work life.

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Topics: Recruitment, #Hiring

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