‘Smaller' Size Matters

Small firms are creating jobs at a faster pace than the big ones.

- RSS Mani

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.