Hello friends,
Greetings for the day!
Hope all is well with you!
April for all of us is one of the most “Bus– picious” months of the year 😊. Our new budgets are unlocked, action plans hit the road and all in all we are set to make new beginnings. As we do that, I thought of finding a new (though traditional) way to remain in touch with you all. With the kind of schedules, we all keep, in most cases it becomes difficult to catch up and share the amazing things we learn in our journeys. To make this happen, I’m delighted to launch “Talent Tech Talk” – a blog & video series, through which I would like to share my own experiences and seek your inputs on the latest trends in the space of Talent and Technologies. Idea is to keep this communication to maximum of twice a month and within a closed group. Though we have taken the liberty to subscribe you to this group, however to unsubscribe, please click on the link here. We will find other avenues to catchup with you. Without further ado, here is the first blog in the series.
The Year that transformed us
I am sure all of us would agree that FY 18, was nothing short of a roller coaster ride. Be it GST, Automation or the new world of work- we welcomed lot of the “firsts” with open arms. Here’s what the world of work experienced for the first time.
From Unlearning, Learning to Machine Learning
It was for the first time that people spoke about AI not as a concept but as use cases which they themselves experienced. I am saying this from our first-hand experience with two Machine Learning products we launched Alt Recruit and GrownOut this year. Friends, what power Machine Learning brings to you if you were to adopt it in its full might. From what we have seen, machine learning if adopted only in a sub process of a function say Recruitment, it could save crores in our employee budgets.
We opened-up to the Connected World
This year has been harbinger of new ideas which have been instrumental in defining #FutureofHR in India as on par with global narratives. We took our first step to make a mark in the HR Tech space by opening a market place especially for India with over 20+ partners joining Alt One to devise a “Connected World” where collaboration supersedes competition resulting in sustainable & equitable growth paves way for brilliant times to come. I am happy that we became the vehicle in bringing it all together. As per some of customers, this pre-integrated network of App would take away the biggest hassle they face in digital transformation.
The Tectonic shift at work
Do you know, India currently has 45 M formal workforce (approx. 8% of total workforce) which is expected to increase by 20% annually, resulting in 70 M formal workforce by 2021. So how would 500 M “workable” population of India earn their living that too in a respectable way. The answer is Gig work and year 2017-18 brought in acceptance to this fact, which as per me is one of the most exciting phenomenon in itself. According to some estimates, 1 in every 4 gig workers globally belong to India and this number is growing with every passing month as people increasingly opt to destroy geographic boundaries to deliver work. It is this wave that will “Democratize” work in true sense, where the opportunity to work would be up for grabs to anyone who has the capability.
Well, that’s all I had to share from the last year’s diary, I am sure with the year end just passing by we are ready for yet another exercise the appraisals. My best wishes to all of us who will drive everyone to decide and differentiate between the output and the outcomes. Hope we all will find the best way to celebrate with our people and not just reward the best outcomes but the best effort too. As goes an urdu couplet
Mujhe na tolo Meri kaamyabi ke saath,
Ek nazar Meri koshishon per bhi to daalo!!
Happy New financial year.