Indian Economy News

Global talent heads for Indian startups

Bengaluru: Jayanth Mysore said goodbye to Google after working there for over eight years, joining Homelane, a Bengaluru-based start-up that calls itself ‘Millennial Carpenters’. Switching to a company that offers tech-enabled interior decoration solutions for homes was a big career shift, yet Mysore’s decision hardly caused a ripple.

That is because Mysore has joined a long and growing list of senior executives leaving profitable and global tech and non-tech corporations like Microsoft, Twitter and P&G to join internet and app-based Indian firms like Paytm, Flipkart and of course, the ‘Millennial Carpenters’.

Over 30 senior-level appointments have been announced by Indian start-ups. With most barely reporting profits, such a career move may seem risky, particularly for those who are used to working on firm ground within established global corporations.

Mayank Tewari, who was earlier with McKinsey, moved to ecommerce and digital wallet company Paytm in April as the deputy general manager of the entertainment vertical. Tewari said, “When I make a career move, I try and understand the company’s vision for the next 5-10 years. Once I am convinced, risk is not a hindrance for me.”

Manish Maheshwari, who recently joined as V-P, Seller Ecosystem at Flipkart, said risk must be weighed against the gains. “It depends on the opportunity that lies in front... Companies such as Flipkart have become large and complex enough to fully occupy and stimulate seasoned folks.”

Srikanth Rengarajan, executive director and president of HR major ManpowerGroup India, calls this trend an “exodus”, but one which has started reversing itself. “This trend is not likely to continue in the long run as India has started witnessing a reverse trend... Better salary standards, bigger brands and job security are being cited as the major reasons driving candidates to move from start-ups back to MNC’s.”

He also cautions that unless the start-ups start making profits, people will become sceptical of wealth creation opportunities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.