Startups prefer to hire employees working in Russia
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Russian startups in the first half of the year began to hire new employees more often, while the number of startups hiring relocators decreased from 52% to 36%, and in the IT sector even to 13%. Russian startups trying to expand have to work with a sharp decline in venture capital investment. At the same time, project owners and managers are interested in increased control over employees and compliance with information security measures, hence the decrease in demand for specialists working from abroad, market participants say.
In the first half of 2023, Russian startups hired new employees 23% more often than in the same period last year, the most demanded professions in the segment are developers (plus 24% year-on-year in all areas), sales managers (plus 22%), marketers (plus 19%), designers (plus 18%), testers (plus 18%), and data scientists (plus 15%), the report says. survey conducted by the investment company Stamina. The company interviewed 1.2 thousand startup owners, the sample included companies with up to 30 employees and revenues of up to 20 million rubles. per year, as well as having an innovative component, for example, patents for inventions.
“Now there is indeed an increase in hiring by start-ups, primarily by enterprises trying to fill the niches that were occupied by foreign companies,” Ilya Chekh, co-founder of Motorika, confirms the trend. “But this applies to start-ups that are more engaged in production than high-tech developments. There is stagnation in the IT venture segment.”
With a general increase in interest in new employees, new small companies began to show less interest in employees working remotely from abroad. The share of startups cooperating with relocators dropped from 52% to 36% over the year, the survey shows. The most stringent deployment requirements are imposed on IT specialists: if six months ago, IT specialists worked from abroad for 35% of respondents, now they are only 13%. Startup employees who are directly involved in the production of products need employees who can control processes on site, hence the low demand for cooperation with relocators, says Ilya Chekh. Stamina says that IT startups are not ready to work with relocators because of the desire to improve data security and prevent information leaks. The vast majority of companies (71%) are not ready to hire IT specialists working from abroad in the future.
Kommersant’s interlocutor in the investment market notes that over the past year, many startups have relocated and moved teams from Russia to Cyprus, the UAE or the CIS countries, and the authorities of Cyprus, Kazakhstan, Armenia, Israel are actively helping Russian IT specialists when moving to these countries. At the same time, to date, “about 20% of employees have returned to Russia – for various reasons, but definitely not because of the inability to work for Russia from abroad,” the Kommersant interlocutor is sure.
In general, at the end of last year, the Russian venture investment market showed a sharp decline: in 2022, 129 transactions were concluded, a year earlier – 291. Investments in IT startups fell by 57%, to $ 1.1 billion (see Kommersant on January 12). The dynamics of the emergence of startups in Russia remains approximately at the same level as last year, according to the MTS StartUp Hub, but the number of startups that have attracted investments has decreased three times: “In the first half of 2022, 97 venture deals were made on the market, while in the same period of the current year – only 34.”
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