Rub your eye, maybe read it one more time. Let it settle. But, this, indeed will remain the truth.
A report by Indeed.com, an online portal has found that a whopping 57 percent job postings from premiere unicorn companies were posted for fresh graduates who have had little to no-work experience.
The Indeed study included an analysis of job postings from Flipkart, Hike Messenger, InMobi, Mu Sigma, Ola Cabs, Paytm, ShopClues, Snapdeal, RenewPower and Zomato, which were identified as the top Indian startups valued at over $1 billion.
The report identified unicorn companies- Snapdeal, PayTM, ShopClues and Flipkart— making a whopping 90 percent job postings on Indeed.com, in a year between Oct 2016-17. The Indian e-commerce market will grow at the rate of 30 percent a year until it reaches a valuation of $ 200 billion by 2026.
Rising internet users and Big Billion Days need more resources.
A maximum number of job postings were located in Delhi/NCR (at 83 percent).
Snapdeal topped the chart in terms of percentage of total job postings at 53 percent, followed by Paytm at 23 percent, ShopClues (11 percent), Flipkart (4 percent), Zomato (4 percent), Ola Cabs (3 percent) and InMobi (2 percent) among others.
Technological availability such as Artificial Intelligence, Big Data and Cloud Computing necessitates more resources.
Sashi Kumar, Indeed's India managing director said, "this is encouraging for millions of young freshers looking to jumpstart their careers with young companies, and [for] being a part of the exciting startup ecosystem.”
The top reason for this could be attributed to the fact that rising ecommerce adoption among consumers has lead to an uptick for businesses, especially the likes of Snapdeal, ShopClues and Flipkart. Availability of cheaper smartphones such as Reliance's Jio coupled with cheaper data plans has also improved total internet user base.
Consultancy firm Morgan Stanley had predicted that Indian e-commerce market would grow 30 percent year on year to reach a valuation of $200 billion by 2026. Rising internet penetration and usage of e-commerce will necessitate more jobs.
In 2016, 14% of internet user base in India contributed to 60 million online shoppers. The Morgan Stanley report shares that by 2026, the number of internet users using e-commerce services would rise to over 50%.