Swiggy Rolls Out Initiative To Assist Restaurant Partners With Staff Recruitment

Foodtech major Swiggy has launched its recruitment support initiative to assist restaurant partners with staff recruitment.  

As a part of this initiative, the company has partnered with staff hiring experts like Apna, WorkIndia, Kaam and Shiftz to help restaurants connect with qualified candidates across various roles, including cooks or chefs, kitchen helpers and service and cleaning staff.

Swiggy has integrated this staffing solution into the Swiggy Partner App. This will help restaurant partners find talent quickly and efficiently through direct access to job listings and candidate databases from top hiring experts, with exclusive discounts. 

With this initiative, the company aims to streamline the hiring process, cut down on costs and enable restaurant partners to concentrate on delivering exceptional food.

Through this partnership, Swiggy will facilitate the hiring of restaurant staff across different roles and offer restaurant owners access to a vast talent pool at competitive rates. 

Deepak Maloo, AVP of Supply at Swiggy, said, “The Staffing Support initiative reflects our commitment to provide comprehensive solutions for their operational challenges. By partnering with leading staffing vendors, we aim to simplify hiring, reduce costs, and help our partners focus on delivering great customer experience.” 

This comes days after Swiggy relaunched its gourmet grocery delivery in Bengaluru, introducing it as a new category on its quick-commerce platform, Swiggy Instamart. The revamped service allows users to access a diverse range of products, including local, regional, and select new-age brands, clean-label items, freshly prepared foods, and gourmet offerings, all with delivery promised within 10 minutes in the city.

Besides, last month, Swiggy revived its homestyle meal delivery service, Swiggy Daily, after a four-year hiatus during the pandemic. Additionally, it merged Swiggy Mall with Instamart and integrated its premium grocery vertical, InsanelyGood, with the quick commerce arm.

The development also coincides with Swiggy’s preparations for its IPO. Having filed its draft red herring prospectus (DRHP) last month through the confidential pre-filing route with SEBI, the Bengaluru-based foodtech giant secured approval from its shareholders for a public issue valued at INR 10,414.1 Cr ($1.2 Bn). 

This offering includes a fresh issue of shares worth INR 3,750.1 Cr (about $449 Mn) and an offer-for-sale component of INR 6,664 Cr (around $799 Mn), as indicated by regulatory filings.

Meanwhile, concerns persist regarding the startup’s valuation, previously marked at $10.7 Bn during its fundraising in 2022. Shares of Swiggy are currently trading at INR 320-350 in the unlisted market, indicating a valuation of $9 Bn to $9.5 Bn.

In anticipation of a substantial IPO, potentially the second-largest in India after Paytm, Swiggy has been aggressively cutting costs and optimising operations. This strategy resulted in a reduced net loss of $207 Mn (INR 1,730 Cr) in the first nine months of FY24 compared to INR 4,179.3 Cr for the entire FY23.