Hii readers ! here we meet again. Today we are going to talk about the human talent that has turned the startups other way round . A few startups which are hardly few year old are playing in crores nowdays and the reason is the extra vigilant and smart minds acting behind it.
A crunch of leadership talent is pushing salaries in the startup space skyhigh, with headhunters and companies talking in terms of multi-crore packages that include a major portion in stocks.
“Salaries for top talent at startups have doubled and in some cases even trebled in the last 18 months,” said Sunit Mehra, founder and managing partner, Hunt Partners. Most of these salaries that have gone up from Rs 70 lakh to Rs 1.5 crore to Rs 2-4 crore were pushed up by the cash component alone, he said.
In one such recent appointment, InMobi in August hired an executive in a director-level position from a leading American technology multinational. Other examples include Snapdeal picking up the head of technology from a California-based computer software company, Paytm hiring a former Amazon India executive to head one of its business units and Flipkart hiring from a leading US-based technology major for a leadership position.
Policybazaar.com, which has been around for over half-a-dozen years, has recently started dishing out ESOPs to critical talent. Group chief marketing officer Naveen Kukreja, who is also the managing director of Paisabazaar.com, said: “This is a retention tool as the war for key talent is getting fiercer by the day. We have recently started using ESOPs as a retention tool.”
BlueStone, an online jewellery retailer, recently started offering multi-crore salaries to attract and retain talent at leadership roles. “Till about a year or so, we were not paying a multi-crore salary to anyone in the company. But now, we are paying multiple people salaries of this amount,” said CEO and founder Gaurav Singh Kushwaha. “This is in addition to the ESOPs. It’s for the key positions at leadership levels. We are ready to pay whatever it takes to acquire talent.”
-: “The importance of money flows from it being a link between the present and the future ” , J M Keynes.
NIET E-CELL 