Startups now are scaling up talent and hiring people with multiple skill-set

The startup scenario has changed a lot and startups, now are more focused on becoming profitable than just scaling up. They are now putting in place new talent initiatives.

Companies like PolicyBazaar, MobiKwik, Chaayos and Treebo Hotels are planning to scale up on talent, and be heavily focused on communicating their company vision better.

"We will concentrate on performance management and upping the motivation in a fast-growing environment so that the managers perform to their optimum,” Rashmi Daga, chief executive at FreshMenu, told ET.

Similarly, PolicyBazaar is also looking forward at sprucing up talent and firing redundant employees. Most of its people, across the organisation, have been in the same role for the last four years. In that period, the company has grown 150 times. For the company, the focus will be on the fact that it must keep the annual growth rate as high as 100% while managing its people.

Before all this, many companies sought out a large numbers of youngsters, thinking a degree alone would be enough.

"This led to many wrong hiring being made across startups looking to scale up, and consequent layoffs. This year, even investments will be hard to come by from, say, a year ago,” Jappreet Sethi, co-founder of YoStartups, which provides consultation services to startups, to ET.

Now the startup are looking to build skills in-house, and for this, having the right talent in place is essential. Chaayos, which has been four years in operation, will focus on making the culture of the company very strong.

"In today's world, anyone can acquire the same technology, infrastructure and paraphernalia to set up a competing business. But it is only the right talent that will make the difference for Chaayos,” CEO Nitin Saluja, told ET.

PolicyBazaar will also look to sift out now redundant employees.

"People hit a point where they must either grow to the next level or bow out. We need fresh ideas and a lot of restructuring. We have a 12-18 month approach for this. In some cases, when some people aren't able to make a change within that period, we have to replace them,” Yashish Dahiya, CEO of PolicyBazaar, told ET.

Post-demonetisation, MobiKwik is geared to grow much quicker amid the push for digital payments.

"We will hire smarter and spend much more time and resources. The right attitude, the startup-oriented temperament and an uncompromising approach to quality is what we're looking for,” cofounder Upasana Taku, told ET.

There needs to be a focus on behavioural assessment and culture fit for candidates looking to join startups, not just skills, said Sethi of YoStartups. Startups need to realise there is no 'perfect' candidate.