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CXOs on a gig? Multiple startups hiring honchos on trial basis

Those hired on a gig are given permanent roles after they complete the 'test period' of 3-12 months to the companies' satisfaction

July 31, 2019 / 02:59 PM IST

Temps at the top. Sounds intriguing? Read on.

A Hyderabad-based retail startup was hunting for a chief financial officer. A few human resource consultants gave the company an idea: hire a CFO on a gig basis. The startup agreed, and a CFO was appointed two months ago. The final decision on a longer appointment will be taken in the next four months, when the executive's performance is reviewed.

HR sources told Moneycontrol that some 5,800 to 6,000 companies, primarily small and medium enterprises, are now hiring officials in the top management (CXO) level on a gig basis. These gigs last for three to 12 months depending on the type of company.

“We are trying this out because a gig initiative will help save costs. Only when we are sure about the candidate will we offer a permanent position,” said the head of people management of the company quoted above.