‘CXO hiring by venture funded start-ups rising’
The Hindu
‘Trend in direct co-relation to funding’
The country is now witnessing a spike in hiring for leadership roles (CXOs), with most venture-funded start-ups under tremendous pressure to expand and spruce up their top-level teams, according to firms specialised in executive hiring.
So far in 2021, about 850 start-ups have attracted a whopping $26 billion in funding. Almost 80% of these firms have been in the space of e-commerce, marketplaces, consumer services, fintech, EdTech and logistics. Post funding, these new enterprises are actively scaling up their leaderships, according to data from Xpheno, a specialist staffing firm.
“Any VC firm that invests upwards of $30 million would insist on a leadership expansion,” said B.S. Murthy, CEO, Leadership Capital. The current spike in CXO hiring has a direct co-relation to funding and we don’t see this scenario in large product or tech services firms, he added.
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