Small firms are creating jobs at a faster pace than the big ones.
In a turbulent market scenario, it is difficult to predict hiring trends accurately. However, one visible pattern—reminiscent of the scenario in the US two years ago—is that smaller firms are hiring at a more rapid pace than ever.
Due to the unpredictable nature of the job market, we notice there is a shortage of jobs in large companies. Further, advancements in technology have ushered in computer numerical control (CNC) machines and special purpose machines (SPM), leading to a considerable drop in the number of people required to run manufacturing units. This has directly impacted hiring for marketing, finance, HR, and other support functions. As a consequence, many smaller firms have sprung up and entrepreneurship is seen as a more lucrative option. Further, the Make in India campaign too has motivated many to start their own enterprises. Another positive aspect has been the easy access to seed funding.
This story is from the April 2018 edition of Indian Management.
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This story is from the April 2018 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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