Deepinder Goyal, the Co-Founder and CEO of the prominent food technology company Zomato, recently disclosed the company’s approach to recruitment. During a recent conversation, he emphasized that Zomato does not hire individuals actively seeking job opportunities.
“The kind of workforce we hire is very different. Ideally, we don’t hire people who are looking for jobs. The kind of people we need, they don’t search for jobs,” Goyal explained during his discussion with YouTuber Ranveer Allahbadia on “The Ranveer Show.”
Furthermore, the Zomato CEO mentioned that the company actively seeks out talented individuals, initiates contact with them, and invests in their development, especially in the case of mid to senior-level recruitment.
Launched in 2010, Zomato’s technology platform seamlessly connects customers, restaurant partners, and delivery partners, catering to a wide range of needs. It empowers customers to search for and discover restaurants, share and read customer-generated reviews, upload and view photos, order food for delivery, make table reservations, and complete payments while dining at restaurants.
Conversely, restaurant partners are equipped with specialized marketing tools tailored to their industry, allowing them to actively engage and attract customers for business expansion. Simultaneously, they benefit from a dependable and efficient last-mile delivery service.
When discussing the Gen Z workforce, Goyal said they are noticeably smarter.
“GenZ’s are way smarter than we were at that age and the potential is huge, but they’ve less patience than us at that age. And patience is a virtue which is required at work,” he said.
When inquired about the company’s hiring practices as it progresses through various stages, Goyal stated, “It’s more advantageous to foster internal growth.”
“Zomato is 15 years old. We have enough people who are 5-6 years old in the system. In such a case, the context gets changed. If we were a two-year-old company, we had no choice but to get external hires but now if I have to bring someone from outside, either I have to be very sure that he’s really good or that he has a unique skill,” Goyal stated.
Expanding on the difficulties of external hires, he elaborated, “If I hire from outside, it will take six months to bring someone. First, you’ll interview for three months. Then he’ll have to serve three months’ notice period in his previous organisation. He’ll join in six months and there’ll be induction for three months. Then, after a year’s time you’ll know his performance. That way, you’ve lost two years.”
“It’s easier for me to pick someone from inside, spend three months to grow him/her and put him in that role. He/she knows the business and that works.”
Zomato Limited achieved its first-ever profitability milestone in the initial quarter of FY24. The company posted a consolidated profit after tax of INR 2 crore for the quarter ending June 2023, a significant turnaround from the INR 186 crore loss reported in the same period the previous year.
Read More: Zomato turns profitable in Q1 FY24, reports INR 2 Cr consolidated PAT
The company’s revenue from operations in the quarter reached INR 2,416 crore, marking an impressive year-on-year increase of nearly 71%, as compared to INR 1,414 crore in the corresponding period the previous year.
