Several Founders, Co-Founders, CXO Bankers, CXO Fintech professionals & people who participated in the ePanel discussions:
- Mr. Ashwin Khorana, Former CIO, Jana Small Finance Bank
- Mr. Arun Tanksali, Co-founder & CTO, Nearex
- Mr. Rahul Dayal, Head- Information Technology, Aditya Birla Sun Life Mutual Fund
- Mr. Roopesh Chandran, Director – Fintech, Processors and Business Excellence at Visa
- Mr. Abhishek Arun, former Chief Operating Officer, Paytm Payments Bank
- Mr. Rakesh Shetty, Product Head Micro Loans, Fortune Credit Capital Ltd
- Mr. Ajay B Panicker, CEO & Founder, NetPay Limited
- Mr. Hitesh Thakkar, Fintech Consultant, Self-Service Automation
- Mr. Ruchit Jangid, Former Business Head, SOTC Travel Ltd
- Mr. Shirsha Ghosh, Co-Founder and Head of Technology, Welance
- Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Here’s a tweet by Ola Cabs founder shared by community start-up founder that states cost of hiring engineering in India has gone up high and thus this might lead to outsourcing of techies jobs [1] Further the start-up founder also shares his pain that in the last 6 months 3 people have left his firm as they are getting 3-times salary outside. Those whom he could retain, work just 3 hours and not worth the money paid to them.
Product and tech roles are on fire, it’s raining money for Indian techies!
- Just an analogy, it’s like oxygen concentrators during COVID, oxygen concentrators were always available but no one bothered. When it became a matter of survival the cost hit the roof. People are willing to pay high costs.
- Guess people should start learning coding. Isn’t it better than MBA’s and other degrees, coding and being able to do so has no co-relation to being an engineer, it’s a great opportunity!
Some more instances that came inline;
- Cognizant seems to be having attrition of 29% – that’s mind-boggling. Member mentions, “our own attempt to hire for a role had to be aborted. Poor skills, unwillingness to move, come to the office in the near future, and unrealistic salary demands. One guy wanted 45 days paid leave, beyond regular leaves and holidays, which he can take whenever he wishes to. We gave up the search!”
- Another member seconds this stating we used to only hire on contract with an Indian firm. They shut down since they cannot provide staff anymore, at workable rates!
- A member mentioned, “I have started moving core in-house resources to Dubai now. The visa situation here gives us some control over them.”
Does this sound fair enough?
It really depends at what level people are quitting. Member mentions, “in my experience I have seen that any employee in current times working for an organization more than 3 years is generally underpaid and have a potential to earn more when they change. If the market is ready to pay 3 times more then clearly the current company has stretched the recession song for too long. This applies to people between 2 to 10 years of experience where the requirements are higher than availability. As one grows in their careers the time of stay in the organization starts to increase for better or worse.”
Let’s talk about work culture;
Register and Read the complete discussions