Tech startups, e-commerce companies like Flipkart, Ola, Snapdeal, Uber cut down on joining bonuses.

 

With the funding frenzy cooling down and concerns of a valuation bubble rising, India’ss tech startups and ecommerce companies are cutting back on plum joining bonuses.
“Joining bonuses, used to lure quality talent fast, are being offered to about 10% of the staff now from 30%-40% a year ago,” said Anshuman Das, managing partner at executive search firm Longhouse Consulting. “Earlier, it could have been about 15% of the CTC (cost to company, or total money an employer spent on an employee including all benefits in a year), but now it has come down to about 6-7%,” he said.

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