BENGALURU: As many as 111 unicorns have an attrition rate of 4.72% for the time period between September 2022 and July 2023. Three unicorns Zerodha, Zoho and Hike managed to maintain attrition rates under 1%, says PrivateCircle Research analysis.
Unicorns are privately held start-up companies that are valued at over $1 billion. Other unicorns that had below 2% attrition rates include Amagi, Postman, Freshworks, Acko, Cred, Games24x7, Druva, Icertis and Dream11, among others. December 2022 saw 44,295 employees leave unicorn companies, which was the highest in the time period, and this could be a result of layoffs or employees quitting their jobs.
The market intelligence platform said in its analysis that hiring at unicorn start-ups have picked up from April 2023, jumping to 43,361 hired employees in July 2023. Some unicorns that saw significant workforce increment in July were Pb Fintech, BigBasket, and Rebel Foods, among others.
Overall, 111 Indian unicorns employed 4,42,714 people in July 2023, a net jump of 12,765 from 4,29,949 employees recorded in September 2022. Delhi unicorns’ workforce saw a net rise of 52,420 employees between September 2022 and July 2023. Some of the mass recruiters from Delhi included Paytm, PhysicsWallah, PolicyBazaar, Delhivery and BharatPe.