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Despite a 36.45 per cent drop in the rate of hiring in the past six months, the demand for gig workers earning more than ₹15,000 per month increased by 21.38 per cent -- showcasing demand for specialised gig workers, according to RazorpayX Payroll Insights.
Read: How online portals help gig workers find work amid inflationary worries
The headcount of gig workers operating in the business department grew the most by 28.24 per cent and the finance department witnessed a headcount growth of 20.18 per cent. Data also reveal that while hiring full-time employees across all departments slowed down in the past six months, sales and marketing teams have grown by 20.61 per cent. Similarly, the hiring of full-time CXOs and senior executives declined the most (36.02 per cent) during this period.
Automated platforms
“The data shows that startups are increasingly leaning towards automated platforms, which has helped them navigate the ever-evolving business landscape with agility, reduce operating costs, and save crucial hours on payroll compliance. Additionally, start-ups continued to remain bullish on hiring skilled gig workers last year. This trend promises a brighter future with more opportunities for specialised workers, giving rise to a new era of work and work culture with greater flexibility and freedom,” said Ayush Bansal, VP, and GM, RazorpayX.
Read: The unsung workers: Why social security is vital for gig workers
While overall hiring has dipped, overall salary spending for full-time employees has increased by 23.07 per cent. Similarly, within the gig workers’ cohort, total salary payouts rose by 20.94 per cent. The insights also show that the average salary for entry-level jobs took a dip of 13.36 per centindicating a gradual decline in the CTC for freshmen. And theaverage salary of CXOs grew by 10.29per centin the last six months.
The platform currently serves over 45,000 businesses, and in the last six months. The neo-banking platform has seen over 200 per cent growth in its payout business. The company has also launched forex services for start-ups to seamlessly transfer the funds they have raised globally to India.
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