- Currently valued at $3.3 billion, Swiggy operates in India’s nearly 500 cities and the company sees about 500 million orders a year.
- While the proposal to recruit 3 lakh employees in 18 months suggests further job creation, it would be interesting to follow how Swiggy achieves this goal.
Sriharsha Majety, co-founder and CEO of Swiggy, shared the hiring plans of companies at Gigabytes, their hyperlocal innovation summit.
“If some of our growth projections continue, it won’t be too many years before we can be the country’s third-largest source of employment,” said Majety. The food-tech startup with 2.1 lakh monthly active distribution staff and around 8,000 corporate employees on its payroll plans to hire three lakh people in 18 months.
The aggressive recruiting strategy is consistent with Swiggy’s company dream of reaching 100 million consumers in the next 10-15 years engaging with it more than 15 times a month.
Currently valued at $3.3 billion, Swiggy operates in India’s nearly 500 cities and the company sees about 500 million orders a year. The company has also recently shared its plan to expand its cloud kitchen business and plans to open’ pods’ where several restaurants use a common kitchen and allow food delivery in 10 minutes.
While the proposal to recruit 3 lakh workers in 18 months suggests further job creation, it would be interesting to follow how Swiggy achieves this goal. Today, the largest employer in the private sector is the IT company TCS with workforce strength of 4.5 lakh workers. A business like TCS offers many employee benefits and a strong employer brand has been created to attract the best and most talented. But what would be Swiggy’s approach? The recruitment and talent management approaches will be quite unique, considering that Swiggy is looking to create more blue-collar jobs and delivery employees that are paid based on the work done.
Swiggy competes with Zomato who had 2.3 lakh delivery managers in September, and Flipkart who has 1 lakh delivery managers, among other online delivery unicorns, in case of recruitment for delivery managers.
Calling Swiggy’s market opportunity to tap, Majety said: “India has 2 lakh restaurants, compared to 3 lakh restaurants in Beijing alone. In India, 10-15 meals a month are consumed outside the home, with distribution being 50-60 percent. Compare this with other geographies like the US, China or South East Asia, where people eat more than 50 times a month outside food, as the supply ecosystem supports demand for high-quality, affordable food options in these markets.
Recently, It has delivered more than 500 million orders a year, meeting its 2020 goal of delivering 360 million orders a year. Swiggy has invested heavily in the country-wide development of kitchen facilities to tackle hyperlocal food supply shortages.