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Tag: post pandemic

  • Building Positive Relationships at Work – By Mr. Ratish Pandey, Founder of Ethique Advisory

    This article has been contributed by Mr. Ratish Pandey, Founder of Ethique Advisory.

    As companies look to navigate the post-pandemic operating environment, one thing is clear: Relationship building gets the front seat. The Covid-19 pandemic completely upended the traditional work environment bringing in a new norm of remote/hybrid jobs.

    This new paradigm, like any other, has its pros and cons. On the one hand, remote working allows for better work-life balance and reduced travel stress. On the other hand, it does not bode well for building work relationships or a commitment to the organization, making retention a challenge.

    The traditional employee annual turnover of 17-18% has shot up to 30-40% in the new normal. Employees cite a lack of motivation, engagement, and collaborative opportunities in the work environment as the reasons for quitting.

    So what can companies do to foster workplace relationships and build positivity at work in the new normal of remote/ hybrid working? Let’s take a look.

    Why are Positive Relationships at Workplace important?
    How does an Organisation Build a Positive Work Environment?

    Why are Positive Relationships at Workplace important?

    Creating a high-performance work environment involves several moving parts, but a team with positive relationships is perhaps the most crucial influence on productivity, collaboration, and excellence.

    Increased productivity

    The impact of positive relationships cannot be understated.

    It spans the relationships between colleagues, supervisors, and leaders.

    Developing positive relationships at the workplace is the bedrock of employee engagement. It can lead to a 41% reduction in absenteeism and a 17% increase in productivity.   When employees feel comfortable and supported, they are more likely to communicate openly by asking for help and offering assistance when needed. Employees feel a stronger sense of ownership, driving higher employee engagement, which is something that modern work environments are finding difficult to tackle.

    Reduced Attrition

    A recent Gallup report showed that only 36% of employees were actively engaged in the workplace, costing businesses between $450 and $500 billion each year.

    Creating a positive work environment that nurtures strong relationships at the workplace improves retention, as employees feel happy and accomplished. A recent survey reinforced the point, as strongly motivated and engaged employees were 87% less likely to leave their place of work than those who were not motivated.

    Builds a progressive culture

    Another benefit of positive relationships in the workplace is that it helps create a progressive culture that focuses on quality and excellence. When employees feel supported in the workplace, they take on more ownership.

    Employees are more likely to move out of their comfort zone, extend themselves, try new things and innovate, leading to faster progress, better collaboration, more efficiency across the organization, and ultimately high-quality output.

    For a high-performing workplace, positive relationships are the guru mantra. By fostering positive relationships, companies can create a more engaged, motivated, and productive team, which can help drive business growth & success.

    How does an Organisation Build a Positive Work Environment?

    Here are a few well-trodden steps that can help an organization create an environment to develop positive work relationships. –

    Encourage Open Communication – an element that is more critical than before as now all team members may not be at the same location. All team members should be heard and encouraged to share ideas and provide feedback to one another. To create the habit and make it a part of the culture initially, one may need to formalize the timing for the team members to connect and discuss.

    Another step to encourage open communication and collaboration is implementing an open-door policy. Open-door policy refers to the freedom provided to team members to approach anyone across the organization for help and advice and not tow the hierarchy line.

    Finally, creating opportunities for team members to work together on projects helps build relationships and encourages collaboration. For the initiative to succeed, clear roles and responsibilities need to be assigned to each team member. In the absence of such projects, team-building activities can help build team dynamics.

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    Support Employees Through Training

    Living in a world where change is a way of life, skilling and reskilling is the ask. Investing in employees to help them stay relevant in their roles and grow as individuals and at work is no longer an option but a mandate for organizations.

    Apart from imparting technical & soft skills to staff, one key element that most organizations miss that employees need is mentoring. In the current scenario of remote and hybrid workplaces, mentoring has gained importance. It helps provide guidance, support, and advice to employees as they tackle daily challenges and navigate their growth in the organization as they work to develop their skills and abilities. A survey reveals 93% of employees said that well-planned training programs positively impacted their level of engagement. Supporting employees through these programs is a no-brainer.

    Appreciation and Recognition

    Adopting a culture of constructive feedback  goes a long way in creating a positive environment. It helps employees feel appreciated for their contributions while understanding their areas to improve and grow. Organizations can also provide opportunities for employees to share their successes and accomplishments with the rest of the team by creating a platform to share their successes with the broader organization. A survey found that less than half (45%) of employees said they received recognition from their employers, so companies must create an environment where employees feel that their efforts are praised and recognized.  

    Building an Inclusive and Respectful Workplace

    Policies and practices that support diversity and inclusion training on unconscious bias, cultural sensitivity, and clear communication about organizational expectations are some tools for creating an inclusive and respectful workplace. It needs to be supported by clear communication about the organization’s expectations.

    Invest in Employee Well-Being

    Organizations need to help employees manage their work-life balance and reduce stress. One way to invest in employee well-being is by offering flexible work arrangements, such as allowing employees to work from home or have flexible hours. Another way to invest in employee well-being is by providing access to counselling services, support groups, or wellness programs.

    Conclusion

    Positive relationships at work is the key to employee productivity which translates to the growth and success of the company.

    Hence, Organizations need to take a cognitive approach to take actions required to build a culture & environment that fosters positive & productive work relationships, nurtures collaboration, improves morale, and reduces attrition.

  • The Impact of COVID-19 on the Event Industry

    Covid-19 completely changed our lives and our entire pespective in a span of two years. We never thought that we will be confined in our own homes for months, events will be held virtually and mask and sanitizers will be our best friends.

    Most weddings, music launches, concerts, office functions, or themed birthday parties these days are not simple events anymore with the sword of Covid-19 hanging on our heads. However, there needs the intervention of a specific type of services for an event to get successful, they collectively known as event management.

    Duties of event management cover selection and reservation of venues, coordinating with merchants, planning for transportation and parking facilities, responsibility for compliance with health and safety standards, crisis and situation management of the event, creating a security strategy, and controlling the entire event. All this comes under event industry sector.

    Coronavirus pandemic has hit many sectors across the world. Aviation, Hospitality, Event Industry, and others are some of the worst-hit sectors due to lockdowns and travel constraints. As countries around the world start to reopen their economy, the events industry appears to have drawn the least attention.

    It is no secret that corporate events such as conferences and trade shows are very often bundled up with crowd gatherings, which have been proved to expedite Covid-19 viruses.

    Hence, events are usually part of the ultimate phase of reopening. In India, this sector accounts for the employment of 10 million people who have been directly harmed due to the crisis.
    The event industry is looking forward to some relief as the Government has bnow allowed people to hold events just like before. In this article, we will talk about the situation of Indian event industry post-lockdown.

    Impact Across Sectors
    How the Event Industry Is Adapting COVID-19 Period?

    Impact Across Sectors

    Business

    All business meetings, Annual General Meetings, associate meets, product launches, tech, and non-tech colloquia, seminars, and association meets are Business Events. The impact of the cancellation of business events is significantly strong. The events that were scheduled for the end of the year have now postponed to 2021 and 2022.

    Exhibitions and Trade Fairs

    Exhibitions and trade fairs account for up to 60,000 events in leading eleven countries. These events witness a large gathering of customers and marketers across all areas and provide huge business venues and convention centers.

    Sports, Entertainment, And Tourism

    Events organized to support tourism and regional business have called off their current year’s editions, and the most recent example of which is the Expo 2020, Dubai, originally scheduled in October 2020.
    The sector also observed the cancellation of the Tokyo Olympics and other events like IPL nationally, who canceled their 2020 edition and was held in 2021 instead.

    Social Events

    Government norms will now regulate religious gatherings, weddings, parties, festive gatherings, and many more. There is an obligatory requirement of multiple approvals involving paperwork, hence leading to a restricted version of the originally planned event.

    • Approximately 52.91% of companies occurred 90% of their business being canceled between March-July 2020.
    • 107 firms suffered from an income loss of up to INR 1 crore.
    • About 7 companies visualize a 50%-80% reduction in their current workforce and 35 between 25%-50%.
    • The working capital/loan expected to keep floating for the next 6 months is around 2-5 Crore for 39 companies and 1-2 Crore for 118 companies.
    • About 97 companies need to raise capital or debt from organizations or shareholders, banks, AND OTHERS.
    Segmentation of Events

    How the Event Industry Is Adapting COVID-19 Period?

    Advanced technology is playing a crucial role in the event industry sector. Modern hours require unmatched solutions, and here are a few ways in which the event industry is driving home the new normal.

    Virtual Events

    The multiple technological disruptions have facilitated the seamless online conduction of events, seminars, conferences, meetings, and gatherings involving a considerable number of participants. There are several platforms used for hosting such activities, which offer features such as-live as well as pre-recorded content, simultaneous running of varied breakout sessions, space for sponsors to showcase their products and services to others. Moreover, the ability to access the information later, even though the event is over serves to be a great joy for the audience. Additionally, the user interface of these events is so influential that it renders the viewer with a realistic experience.

    Increased Personalisation

    On being asked, many individuals stated that they could not enjoy to the fullest as they felt disconnected by the overpopulation of the venue.
    The events which are being organized in the corona times successfully overcome all these flaws by providing consumers the opportunity to enjoy the show from the comfort of their homes. Also, multiple examples are noted where the artists accepted the requests made by the viewers.

    Global Presence

    Eventually, the most significant change that the new normal brought is the re-establishment of the world as a global village. Virtual events are a sigh of relief as they emerge winners against geographical barriers. As a result of this shift, individuals across the world can experience the performance of their favorite artists.

    Modern Advertising Techniques

    The current times have noted the rise of advertising methods that are greatly consumer-centric, dynamic, and pleasant. With consumers being bound to homes, their usage of social media has increased. In this trend, various organizations are resorting to their online platforms to generate awareness, drive traffic, promote upcoming virtual events with enhancing viewer participation.

    Improved Physical Experiences

    With the event industry knocking at the door of a complete restart and the absence of a vaccine, organizers oblige to pay maximum attention to customer safety. People are forced to see a rise in terms of hygiene, be it at the venue or in terms of the deliveries happening for these events. In the post-pandemic, only those will succeed who can make their audience feel safe. This can be achieved through active communication channels and enabling the customers with a choice of easy cancellation of bookings.

    Conclusion

    The event industry suffered a big blow because of the Coronavirus Pandemic. Although, with the new normal being established and the situation coming back to its previous form, with time it will surely increase its growth in the country like it has been doing all these years.

    FAQs

    How big is the event industry in India?

    The revenue of the Indian event industry is said to be over 100 billion Indian rupees in 2021.

    Is the event industry growing in India?

    The event industry is growing at a rate of 16% CAGR.

    What are the three types of events?

    Three types of events are:

    • Private
    • Corporate
    • Charity

  • How can Small Textile Brands Recover from the Pandemic? | Survival Tips for Textile Industry

    In the course of the ongoing pandemic, many businesses faced a downfall in their progress of making a profit. Likewise, small textile brands encountered a behindhand in making a life out of the pandemic market.

    While the small textile brands are highly populated by poor people, in order to make a small earning by stitching, embroidering and threading clothes all day. After the government of India proclaimed lockdown, many small scale industry workers returned to their hometowns and migrated, waiting to get circumstances back to normal.

    Things were normal when the Government set a time duration to conduct their respective business i.e. 10 am to 6 pm. Whereby, small textile brands worked for 24 hours to meet the targeted profit of the day or month or year. But, the coronavirus unfettered the nation with high cases from April to July 2021, imposing tight lockdown again.

    According to the reports, it is stated that 70% of workers didn’t return to work and saw a 60% drop in the sales of textile. On the other hand, the small textile brands faced an epic hurdle in purchasing raw materials from the suppliers as it is unsafe in trading, due to escalating death rates in the country.

    Besides, the small textiles have to accept those who are willing to do any task, as the industry is facing a lack of manpower. As is the case, there might be unskilled workers joining the small textiles brands which ultimately leads to the production of low-quality textiles; and people won’t buy poor quality products.  Besides, the small textile brands are bungling the concept of technology.

    Here, we’re gonna discuss the chance of small textile brands to expand their market from the effect of the ongoing pandemic.

    Impact of the Covid-19 Pandemic on the Textile Brands
    Things that hampered the production of small Textile units
    How can Textile brands survive the Pandemic
    FAQ

    Impact of the Covid-19 Pandemic on the Textile Brands

    The whole Covid-19 pandemic situation made the economic status of the entire world go upside down. As per the study, the 2020’s economy has gone down by –3%.

    The world faced a major fallback economically correlated to the 2008–2009 financial crises and the surveys say that it may take at least a year to attain the normal state and solidify their thrift. India is one of the major countries that encountered a high difference, definitely not in a good way.

    Considering the available resources and fast-growing markets many foreign institutions were ready to invest in India, and that may have cultivated a huge disparity in the availability of employment.

    The textile industry has a huge part in employment creation in India. The closing of the mart ended in creating an unpleasant reaction in the growth of the textile industry; few minor cloth crews curbed their exposition.

    Due to the low profit, many units limited their human resources and there were pay cuts. Out of all states, the worst pretentious states in cloth manufacturing during the epidemic are Punjab, Gujarat, Maharashtra and Tamil Nadu.

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    Things that hampered the production of small Textile units

    Fewer Transportation Facilities

    Transportation is the primary element that makes a huge effect on production. The businessmen need transport to supply the product, to get the raw materials and to deliver the goods.

    Due to fewer transport facilities during the lockdown, the transportation of goods and buying of fresh products for sales were halted. The people were not even able to deliver the finished products.

    No Labours

    As transport was not available frequently, the migrant workers shifted back to their hometowns. Their wages were cut short and the companies curtailed human resources.

    Bihar, Jharkhand, Uttar Pradesh and Orissa are the states that produce large amounts of human resources, considering the less income, transport problem and their health risks, they moved to their places. So the limited availability of the labourers resulted in the production.

    Lack of Raw Material

    During the pandemic, the demand for the raw crops reduced and due to that agriculture underwent. As the overall demand for the crops reduced, the production of cotton and silk were also reduced, resulting in less or no availability of raw materials. And as the chemical units were focusing on other significant courses, the dealings of synthetic lessened and the synthetic textiles were affected.

    No Capital

    Many small textile units were shut down as the production and earnings lowered.

    Market size of the Textile Industry in India
    Market size of the Textile Industry in India

    How can Textile brands survive the Pandemic

    Well, in some way or the other, many businesses are recovering the loss from the effect of the pandemic by engaging efficiently in producing and serving the goods to the customers. And in the case of small textile brands also hyped their production in many ways during this ongoing pandemic.

    Unlike other industries, small textile companies lack digital marketing and ergo became a great drawback in achieving their goals.

    Here are some ways that the small textiles industries could employ to stay resilient in the market from the effect of the ongoing pandemic.

    Make sure workers are Safe and Vaccinated

    During the first lockdown in the nation, many small scale workers migrated as per the government rules. So, the first thing that small textile brands should take care of their workers is to prevent the fatal virus across the nation, whereby the necessity of healthcare nearby, nutritious food and safe & hygienic shelter should be rendered to the workers and make sure their vaccinated.

    Stay Informed with the Latest Government Guidelines

    Secondly, small textile brands should stay informed; the Government should inform the measures and up-to-date information regarding the pandemic to the small textile industries. As is the case, they will take necessary protocols assigned by the Government in order to prevent the spread of coronavirus.

    Make sure your financially stable to operate your business

    The small textile brands should be financially stable in meeting requirements such as paying wages to the workers, purchasing raw materials, light & power, fuel and transportation and so on.

    Furthermore, industries should be producing goods & services at a minimum cost of production and maximum optimization of the product.

    Stay in touch with your key stakeholders

    Small textiles brands should be in touch with their key stakeholders in order to sustain an affiliate relationship with them.

    Provide Recess time for Workers

    Brands should provide recess time for workers, who are working 24/7, as this would aid to reduce the cost of excess labour & augment efficiently and effectively in the production of goods and services.

    Make necessary changes according to the environment

    Lastly, the small textile brands should accomplish the set of goals without any objections in doing so and respond to any changes happening in the working environment.

    If the above points are followed by the small textile brands, then the chances of getting opportunities in the market are high during the pandemic.

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    Conclusion

    The countries confronted a huge economic deterioration. No country was nimble to evade the losses that the pandemic resulted in. The economic rate of the country is poorly approximated to the financial crisis the world faced in 2008–2009. But it doesn’t mean it’s not possible to improve it.

    Fetching back to regular and recouping the stability like before the pandemic may take a few months or also years. And the small textiles that faced a great loss have to find a way to improve their state. They have to create new strategies to sell their products in a modern way and yet not skip and obey the government protocols.

    FAQ

    What is textile business?

    The Textile industry consists of the design, production and distribution or marketing of yarn, Fabrics or readymade clothing.

    Which city is famous for textile in India?

    Bhilwara is India’s largest manufacturer of fabrics and is also known as Textile City of India.

    Is textile industry profitable?

    Yes, textile industry is considered as a profitable industry for new and aspiring entrepreneurs.

  • How to start a pandemic-era business and its benefits

    There is never a perfect timing for starting a business, sometimes, there are but it only stops you from taking the risk. Organizations like General Motors, IBM, and Disney were all founded right before the Great Depression. Facebook, Twitter, and many others also made it through the economic crisis.

    Whether anyone starts a company before, during, or after a recession or global pandemic does not necessarily mean one is going to be more successful in the long term. If anything, global crises are what highlight the next pile of problems the world needs to solve to move forward which gives rise to hundreds and thousands of new companies, new markets, and new opportunities.

    As we are currently in this global crisis, there are multiple interesting opportunities for entrepreneurs.

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    Why is pandemic the perfect time to start any business

    Employees of the Organizations enjoy the work without long commutes. Without as much of social life, without many of the work that used to keep us busy, some people have potentially more time than they’ve ever had to invest in getting an idea off the ground.

    Here are some reasons why it is the perfect time to start a business.

    Business built in the current situation will only be stronger in the future

    Nobody has any idea how long this recession will last. However, if one creates a company that is valuable to people in an environment that is full of declining demand and rising unemployment, the idea of the business is only going to be stronger and flourish when the economy starts to improve.

    Starting a business means entrepreneurs will be even more frugal with expenses, hiring, and whatever they need to get the company started.

    A lot of talented and skilled people are looking for employment

    It’s not just small businesses that are adversely affected by the pandemic. Even the multinational companies and most heavily funded startups are firing people right now.

    Currently, the market is full of talented individuals looking for their next opportunity. As more companies move to remote workforces, this will unfold more opportunities for the right workers to find the right companies. This is a great time to find a co-founder and other teammates and build a category-defined company.

    Businesses that start and solve problems in a crisis tend to grow faster

    Generally, new consumer startups tend to be at the forefront of where the world is going with a digital focus, heavy content education and differentiation, and convenience, demand and supply focus for their customers. It’s no surprise that many of these businesses are suited for the current environment.

    But what about companies that aren’t so lucky to be benefiting from these changes? Rule number one of entrepreneurship, when things go wrong, you don’t just give up. There is no option of quitting. There’s no perfect time to start a business. What matters is how motivated you are to begin.

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    Tips to run a business during the pandemic

    Some amazing tips to run and flourish the businesses during the pandemic

    Quick to respond

    The entrepreneurs should be quick to respond in these times than in normal situations. There are many challenges and problems faced by the businesses and consumer as well. The team should be very flexible, responsive, and understanding about the additional challenges the pandemic adds to what are generally already extremely stressful events for the customers.

    Consider the Benefits of working from home

    Encourage the team and explain the perks of working from home. The privacy of employees is intact and undisturbed. Also, encourage everyone to enjoy the benefits, maybe work on the balcony for a little, go for a walk during day time, work flexible hours where possible.

    Increase communication

    Having a remote team during the pandemic, the communication and coordination among the employees have reduced. To increase communication amongst the team, rather than weekly check-ins and teleconference staff meetings, subordinates can check in with each other in some way daily.

    A short text, an email, a phone call, whatever it takes and works best. With this, employees can be there for each other as needed, and address needs as they arise, relieving both team member and team stresses.

    Always hope for the best and work for it accordingly

    Business owners or entrepreneurs need to be the one who comforts and be a leader to give great hope. They must have a steady hand to keep things intact. People tend to allow crisis and hysteria to outpace the business.

    The most important thing for new leaders is clear-headedness and accuracy of the emergency. Oftentimes, the cure can be worse than the disease, and CEOs have a responsibility to manage the psyche of people around them and work to gain confidence.

    Ask yourself these questions if you want to start a business now:

    • Have I identified a new need that customers have as a result of the current crisis?
    • Can I serve this need in a way that is substantially better than the current alternatives?
    • Am I qualified to solve this customer problem?
    • If I don’t have the experience, can I hire others or find a co-founder to help me?
    • Do I have the level of funding that is needed for my business to be profitable?
    Pandemic Affected Business
    Pandemic Affected Businesses

    How can you launch a pandemic-era business

    Build a wide network and understand what they are looking for.

    Be a big relationship person, spend at least five hours per week talking to different people in the same domain of the business maintaining relationships.

    One of the things you want to know, as an entrepreneur, is what investors want to see to feel confident investing in the company. Is it about how much revenue you produce? Is it the growth rate of your customers? Different investors look for different things, so it’s important to understand and plan what exactly is needed.

    Have a long-term plan and strategy to make it through

    Deals are still getting signed, but investors want to see that you have a very clear plan for navigating the current environment. Investors want to know:

    • How do you plan on executing the business during a pandemic?
    • Why would someone buy your product/services and who is the buyer?
    • When do you plan to start generating revenue?
    • What key metrics are to be measured, and are those strong indicators of business development?

    The Bottom Line

    Investors are looking for options as to where to put their capital. The stock market is on fire and the interest rates are so low that investing in bonds and things like that won’t yield a high return. So this is the right time to investing in deals and make the right deals for the businesses.

  • Job profiles/Companies that are getting hikes during the Pandemic

    Working-class people have experienced the biggest hit due to the Pandemic. People are getting fired from their jobs, getting under-payed, and overworked. But there are also cases of hikes in salaries and hiring of employees across the globe.

    With the unprecedented situation that the world is facing, arising out of COVID-19 Pandemic, companies across the world have re-evaluated their HR practices, and while 50% organizations across industries are keeping the salary hike budgets unchanged, 36% have opted for a decline, according to a survey.

    In India’s COVID-19, HR Survey Report, KPMG said around 70% of the organizations across levels have reported absolute no change in the planned impact on fixed pay at the non-management and junior management levels.

    According to a survey that polled 315 organizations across 20 key industry sectors noted that 90% of the organizations have at least one initiative around the well-being of employees whereas 21% are quite proactive and have 5 or more initiatives to support employees well-being.

    While 50% organizations across industries are keeping their salary increment budgets unchanged, around 36% organizations have opted for decreasing the salary increment budgets. On the contrary, most organizations and profiles in IT/ITES, life sciences/pharma and retail sector have refrained from any downwards trend in the overall promotion cycle, the survey noted.

    To sustain this worldwide economic imbalance, a few organizations are implementing hiring freezes and wage freezes, while others are introducing remote working alternatives, enhancing employee engagement initiatives, and additional financial assistance. For those who were already in Medical services have their merits of service, lucrative ways delivery during this pandemic.

    Indian Salary Study in 2020
    Indian Salary Study in 2020

    Companies that are offering hikes in salaries

    Even as numerous start-ups or huge organizations continue to cut off employees’ salaries, others in segments like education, real estate, and logistics have seen business growing, fuelled by a surge in demand for their products during the pandemic and are hiring across roles. For some, even salary hikes and promotions are on the cards. There have been many IT firms, Tata Consultancy Services (TCS), to one of the biggest multinationals present in India, Coca Cola, who have gone against the situation.

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    Asian Paints

    Asian Paints decided to give its employees a price hike in the face of an ongoing economic crisis amid lockdown. Asian Paints raised the hope and boosting staffs’ morale amid the pandemic gloom.

    Apart from going ahead with its annual salary increments, the company also transferred Rs 40 crore into the accounts of its contractors. Expanding its product range into sanitizers in lieu of the basic hygiene being encouraged as a part of the precautionary measures taken to combating COVID-19, the paintmaker now has a greater share of the customer wallet.

    ICICI Bank

    The private sector bank has decided to reward over 80% of its frontline employees with a salary hike of up to 8%. This hike has been given to the employees in appreciation of the services rendered by them during the pandemic.

    These increments bring good news to the Bank’s staff at a time when most other organizations are being either forced to hold back salary hikes, impose salary cuts and even resort to layoffs as part of a cost-cutting measure.

    The Board of Directors of ICICI Bank is reportedly thinking of raising funds through equity shares or equity-linked securities. The Bank has asked its employees to join back at their base locations and resume work as soon as possible.

    Coca Cola

    Coca Cola, that favourite punching-bag for everyone targeting the evils of capitalism, showed a humane face when it announced a salary hike.

    Coke’s Indian wing, Hindustan Coca-Cola Beverages, with 15 bottling plants across the country, gave all its 7,000 employees a 7 to 8 % salary hike. The company also made it clear that there would be no lay-off or pay cuts because of sales disruptions caused by the COVID-19 pandemic and the subsequent lockdown.

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    Brillio

    Brillio, a tech firm, is also optimistic in planning to add 240 new jobs to its Indian center, in addition to the 1,800 staff it already has. The reason is they have seen a 10% increase in productivity and 20% in people’s engagement since the lockdown. Hence they are moving at a faster pace to ramp up their teams.

    NoBroker

    NoBroker has been growing during the last one and half months despite the challenging market situations and even managed to raise $30 million in April. The number of inquiries has been increasing. A lot of people are looking to upgrade themselves to a bigger house. A majority of the fresh hiring will be for those from a technology background to support the growth as they shift to online tech.

    The organizations are offering salaries at par to the employees. Nobroker.com is known as to be one of the best paymasters and the salary at entry level starts from ₹6 LPA and depending on experience can go up to ₹40-50 lakh, especially for tech skillsets.

    Capgemini

    Capgemini French IT firm Capgemini has announced a salary hike for 70% of its employees in India in April. It will continue to hire as per the strategy and client/Job requirements. Employees who have joined the company during the lockdown are even completing their onboarding formalities online.

    BharatPe

    BharatPe Digital fintech startup has also decided to give its employees a hike in their pay. BharatPe has made its annual hikes as per the original schedule. The top performers scoring 3.8/5 or higher have all been given 20% plus increment in the appraisals. Commenting about this time, CEO and Co-founder Ashneer Grover was quoted,

    “We have used this unprecedented time to boost the technology and product and will be aggressively acquiring merchants. We tend to lend $100 million to small businesses from here till the end of the year.”

    Hike

    Hike shared its plans to continue hiring remotely as the ecosystem continues to navigate through a lockdown period. The company plans to hire for over 20 open positions across roles in product, design, marketing, AI & ML, engineering, partner functions and user research.

    Hike will be taking up more people onboard as a part of its ZeroTo2 program, which is focused on onboarding young candidates from colleges.

    Conclusion

    There are a number of factors why an Organization tries to cut the company’s cost. COVID-19 has shown the exact picture of which businesses are in profit and making better even in this difficult time. Hikes in salaries have a direct impact on the employee’s confidence and productivity.  

  • The Future Of FMCG Sector Post Pandemic

    The world is suffering from a pandemic caused by an extremely contagious virus- COVID-19. Its been almost six months, and yet things do not look to go back to “normal”. But the lives keep moving. The fast-growing changes in lifestyles have brought a drastic change in the marketing scenario and the FMCG sector has been affected the most.

    Fast moving consumer goods (FMCG), are basically packaged goods that we buy at retail shops at a very low cost. These are also called as consumer packaged goods. They get sold out easily and are not durable.

    Some Thriving Brands of FMCG Across the World
    Some Thriving Brands of FMCG Across the World

    Categories of FMCG

    • Processed food
    • Beverage
    • Dry foods like tea,sugar,coffee
    • Prepared meals
    • Cosmetics
    • Toiletries
    • Over the counter medicines
    • Candy
    • Fresh foods like veggies
    • Frozen foods
    • Baked foods
    • Consumer electronics
    • Office supplies like pen,papers
    • Cleaning products
    • Clothes like socks,under garments.

    These are also called as consumer packaged goods. Some of the goods are highly perishable like processed meat, dairy products, etc. FMCG goods are the largest sector of consumer goods. Although half of the consumer’s spending accounts for these “fast-selling packaged goods, they tend to be low investment purchases.

    Future of FMCG from a Global Point of View

    E-commerce has come across a latest trend of piling of FMCGs. Following reasons can be attribute to the sudden change in the behavior of consumers all over the world.

    • Lack of fresh products have compelled the users to depend on packaging items.
    • More over package foods are easier to stock.
    • Development of panic buying attitude as regards to essential commodities including common medicines.
    • Avoiding/closer of restaurants have driven consumers to their own kitchens.
    • Sanitary, hygienic and over the counter medicines have been added to the buying list.

    Global projections that the share of online FMCG sales would comprise 10% of the total market by 2025. It is likely to be vastly understated given the pandemic’s role as a catalyst for e-commerce growth in the FMCG and grocery space. Most FMCG companies have fogged a tie-up with delivering companies such as Zomato, Swiggy, Dominos,  Big Basket and Dunzo to ensure that their products reach their customer amidst this pandemic.

    But companies are claiming that even after this pandemic, this could stay as the normal trend. As people are being acquainted to online ordering. Not to mention the convenience of  home delivery. It is expected the sales through e-commerce to increase from 2-3% to 4-5% post pandemic.

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    Future of FMCG from a National Point of View

    The FMCG sector is expected to grow since people have shifted to e-commerce post this virus outbreak. Due to WHO guidelines regarding social distancing, unnecessary bars, shopping malls, retail shops, and markets are closed. People maintaining distance socially in order to stay safe are choosing to buy their necessities online, instead of going to their near Kirana store.

    People in India would normally do their grocery shopping from the retail shop near, where they would buy goods sold on loose, but now due to pandemic people are forced to shift to e-commerce. Now instead of buying wheat flour from the nearest cottage mill, one has to buy the packaged product.

    In India, there has been seen a significant purchase of these packaged products in rural and semi-urban areas. Whereas the urban cities have shown a decline in the purchase of these goods. Because of severe lock-downs and restrictions on manufacturing and maintaining social distancing and store closures among others have had a severe impact on the FMCG industry.

    India saw a heavy decline (about 6%) in the month of January 2020. Even with a steady increase in the consumption of dairy products and other essentials, this sector is still facing a crisis due to this pandemic.

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    The FMCG sector is the 4th largest sector in the Indian economy. It has basically 3 main segments under it with a consumption patter under:

    • Food and beverages (19%)
    • Healthcare  (31%)
    • Household and personal care (50%)
    chart showing consumption of different FMCG products
    chart showing consumption of different FMCG products

    In India however, slashing the optimistic 5-6% FMCG growth estimate made around April of this year, it is now said to remain the same. In the worst-case scenario, to shrink 1 percent.

    Of late, the FMCG sector in rural India has grown at a faster pace than its urban counterpart with FMCG products accounting for about half of total rural spending. Semi-urban and rural segments contribute over 40% of the overall revenues of the FMCG sector in India and with about 12% of the world’s population living in the villages of India, the Indian rural FMCG market is set to be a driving force for the industry at large.

    The FMCG sector is trying to supply to introduce smaller packages of goods that will match the low incomes of rural areas, in order to increase in accessibility even more.

    Some early shoots in the graph were seen in early June when the lock down was eased. 4.5% of the year on year value growth was seen in FMCG sales amidst this.

    However a potential future is seen in the third quarter and significant growth is expected in light of the arrival of the festive season ahead.

    But in long run, one can see FMCG has a potential future. This pandemic opened up the gates even to those who were skeptical before to use e-commerce before but now heavily dependent on them. This may be the next normal.

  • Paytm Contactless Dining: TATA Starbucks Partners Up

    In order to promote social distancing Paytm contactless dining has got it’s first big partnership as big coffee chain TATA Starbucks has come forward to brew up the game. This news has been confirmed by two people who have requested some anonymity.

    Metro Cities Will Have The First Sip Of The Brew

    It won’t be available in all the cities as of now, TATA Starbucks aims to target the metro cities which include New Delhi, Gurugram and Mumbai,  said one person anonymously. Having around 180 stores all over India, they are planning to introduce this feature to all of them. Bengaluru stores have started to adapt this concept and are following these norms.

    Contactless Ordering launched in April
    Paytm and Starbucks brewing up

    Also Read: Paytm Coming Up With A New Idea To Have Contactless In-Store Ordering For Restaurants

    Although, Paytm and Starbucks has not given any statement on this and have not commented anything when asked.

    Can Help Restaurants Gain Trust

    According to current situation, restaurants being in loss and looking for different safety alternatives to grab the attention of customers this can surely be a good alternative. While mostly restaurants offering the takeaway or home delivery services after the lockdown was removed and they came into business again.

    Also Read: Here’s What No One Tells You About Business Model Of Foodpanda

    Gaining trust of the customers for these restaurants is not easy at the moment,  they are trying their every bit so that the customer are less not concerned about the safety being provided by restaurants.

    Now, these restaurants are looking forward to partner up with these online food delivery giants to get more customers and provide them with safe solutions. Minimum physical contact has become a matter of concern and teaming up with online food providers will surely help the restaurants to get back on the track.

    How Does Paytm Contactless Ordering Works

    Paytm came up with the idea in the month of April in which they introduced ‘contactless in-store ordering’. They said that the idea of Paytm contactless ordering will help in promoting the process of minimum physical contact.

    Paytm earlier in a statement said that they have developed an online menu system where a QR code will be given to the restaurants and the users can scan the QR code which will help them getting the menu on their mobile phones and can place the order without having a contact.

    Steps for scan to order

    People can also order their food by not even being present and can go inside and take away their order which will also help in creating a hassle free ordering and no physical contact too.

    Now, with getting a big partner like Starbucks, customers do not need to have any contact and they can have their food while just scanning up the QR code placed on the table of the Starbucks outlet and can go through the menu with the help of the Paytm Application and can pay online through various online options like Paytm Wallet, UPI, cards or net-banking without having any physical contact.

    Starbucks being a good brand name can also grow up their business by gaining the trust of their customers with the help of Paytm contactless ordering. TATA being a 50 percent partner of the starbucks always aims how it can help create a better ecosystem for the customers. With new norms it can help them gain public trust and provide them with better solutions

    A person have given an anonymous statement saying, “Starbucks has usually been shy in partnering with digital payment firms, and this partnership will help Paytm quickly scale up its contactless-dining solution, as it looks to compete against a similar solution from Zomato,”.

    The post covid phase will come with new challenges with each and every passing days, the food business is facing a lot of backlash with this different kind of world. It is a tough road for all the food giants. But coming up with these new steps are a hope of getting better and provide better to their customers. Gaining the trust of the customers and trying to develop a good relationship again and ensuring them safety is what all the food giants are focusing on.

  • How Companies Are Coping With COVID 19 and the New Normal?

    The COVID-19 pandemic has effectively made everyone’s normal life slow. The Indian government had ordered the lockdown in March and asked 1.3 billion residents of the country to stay home. In June 2020, the lockdown has been lifted with few restrictions.

    The lifestyle of people has changed due to this pandemic. Covid-19 has completely transformed the working pattern of the corporate world. Work from home, sanitisation everything is now a part of the new normal. Few employees are still working from home. Sanitization has become a new routine in every company.

    We had conversations with a few people about the changes in their lifestyle and how they are coping with new issues and the pandemic. Let’s take a look at their opinions.

    Esper
    Oliveboard
    Markelytics Solutions
    The Sports School
    75F
    Snapbizz
    Star Squared PR

    Esper

    Shiv Sundar, Co-Founder and COO

    “At Esper, our first priority is our employees’ health and well-being. We quickly switched to working remotely as a response to the Pandemic. Apart from working on projects and maintaining business as usual, we also continued to host monthly hack days virtually, which helped to keep the team in good spirits. While we are still largely working remotely, we are gradually returning to the office. Currently, we have a limited, rotating schedule in place wherein our teams take turns to collaborate face-to-face on alternate weekdays. We have strict guidelines in place to sanitize our office as well. We plan to maintain this balanced model of remote work and office hours until physical attendance is a completely safe option.

    The global pivot to remote work was a valuable reminder for organizations to always have a backup plan in place. The New Normal will emphasize the need for IT resilience and cyber hygiene in every organization. Going forward, we will see businesses be more strategic about technology performance and look beyond just using cyber hygiene to avoid risk. It will be embedded into the very structure of businesses as a staple to ensure business continuity and seamless customer engagement. A strategic and resilient IT infrastructure system will be a key feature in defining the New Normal for businesses, regardless of their size.”

    Oliveboard

    Abhishek Patil, Co-Founder and CEO

    “Oliveboard Team is still working from home. We will continue to do so till the end of the month and then make a decision based on the situation. To stay connected with all the employees, we have zoom/hangout calls in smaller and company level groups. While work is going on constantly, to keep employee motivation levels high, we also share fitness challenges in our company Whatsapp groups. We play games like Tambola, Quiz etc. to keep our spirits high during these times.”

    Markelytics Solutions

    Jasal Shah, CEO & MD

    “The fact of the matter is that Covid-19 will have a global impact on business and the economy. Our primary concern at the moment is the well-being of our employees and our community. Also, we’re in the unlocking phase, and hence, we’ve allowed a few employees to work from the office, whereas most of them are working remotely. This has ensured that there is no interruption in the services we offer to the clients globally.  Ours, being a digital company, online research is our core capability. So, we already have online tools & online panels to support our clients’ projects. We are also receiving quite a few requests for our DIY Online Qualitative Solutions, Online Brand Communities, Panel Management Solutions et al. There will be a new normal post-COVID, and methodology (from traditional to online) will be the first to change.”

    The Sports School

    Sankar UV, Director

    “Our prime focus is always on the well-being of our students and staff. We have taken appropriate measures like regularly sanitizing the entire campus, mandatory usage of masks, regular health and temperature checks, and also distanced seating arrangements to abide by guidelines of social distancing. Moreover, ours being a residential school with a focus on sports, we provide a much safer opportunity for students to continue their education and maintain a healthy lifestyle. The pandemic has had a huge impact on schools and has led to the suspension of physical classrooms and the shift to online classes. The new normal post-Covid will be the transition to digital from traditional classroom teaching. At The Sports School, we have been adapting to this and have been conducting online classes for academics, and even sports fitness and well being, online.”

    75F

    Gaurav Burman, APAC & Vice President,

    “The world is in the midst of a pandemic with so many unknowns, where the brightest minds are developing innovative ways to modify their businesses and we do that for the commercial building industry. Being able to give companies and their employees some peace of mind that their facilities managers are taking the initiative to make their environments safe and healthy is extremely important and we believe will become the norm even when the outbreak is over.”

    Snapbizz

    Prem Kumar, Founder & CEO,

    “Kirana stores are today the heroes and the lifeline for serving over 1.3 Billion people across the country and the current COVID 19 crisis has led to a new norm of doing business in the present economic environment. Besides, being experts in grocery tech and in the FMCG ecosystem, our relevance has exponentially gone up due to the present situation and we expect this to be a turning point in our journey. Our goal currently is to keep pace with the expectations of the retailers and their partners. To keep things in order we are constantly strengthening our operations on the technology and data sciences front to rise up to the emerging expectations of the marketplace. As a result, we are enriching some of our product features such as SnapOrder (retailers’ B2C ordering app), SnapSupply (distributors’ B2B ordering app) and SnapPulse (retail analytics solution) in order to enable the ecosystem players to effectively meet the current demand. We have also rolled out a lighter version of our retail technology solution exclusively for small Kirana stores to hold the fort during these difficult times. Furthermore, we are currently on a fast-track model to build a network of over 3 lakh stores across 42 cities and become a $ 21Bn platform.”

    Star Squared PR

    Priyan DC, CEO

    “The Global pandemic has unleashed a trail of death and misery globally. This is a tragedy of such an enormous scale that it will take years if not decades to fully recover from it. Only recently, the Star Squared PR team was preparing for yet another year of exciting growth when news of the virus took us all by surprise in the first quarter of this year, followed by the immediate lockdown and work from the home mandate for all employees. Our learnings from work from home have been pleasant though, with the teams stepping up to the occasion and delivering professionally. More importantly, we quickly streamlined our processes to ensure our client work does not get affected despite the challenges and continues to be our main priority. We also developed fresh protocols for reporting and brainstorming to ensure there is no dip in our creativity when it comes to client counsel. We used this opportunity to develop new training modules to keep the teams engaged, energised and motivated at all times.

    I think the Pandemic has also taught us a lot of things including the fact that we are resilient and will adapt and succeed despite the odds. The new normal is hard to predict but will definitely include social distancing for a long time to come, along with flexible working hours factoring in a lot more work from home. The PR business is also transitioning and new formats embraced by journalists such as webinars to debate news will also become the norm. Face to face meetings with journalists and clients will also reduce as it has emerged that this is possible through video calls and other avenues while saving precious time for everyone and delivering the same results.”

    Conclusion

    With the ongoing situation, it is quite clear that this is the new normal that we all have to adjust according to it. All the companies have to line up their work after carefully analysing the situation. Companies also need to take action so that the working environment can be safe, both physically and mentally for employees. While doing this, the business should also flourish.

    FAQs

    When was the first lockdown started in India?

    The first lockdown started on 25th March 2020.

    Who is the founder of Snapbizz?

    Prem Kumar is the founder of Snapbizz.

    Who is the founder of Olive Board?

    Abhishek Patil and Satish Kumar are the founders of Olive Board.

  • How to Provide a Contactless Experience to your Customers

    As the fight against the contagious coronavirus continues, this world seems like a changed place. This pandemic is going to leave an everlasting effect on consumer behavior, with concerns shifting towards health and safety. Various guidelines have been published on how to continue with daily life without the fear of contracting the virus. This had made one thing clear- A contactless tomorrow is not just a remote possibility but is also a necessity. People are reassessing their ways of interacting with different organizations, demanding a whole new contactless experience. Here are a few practices that will help the business to ensure a contactless experience to it’s customers.

    1. Contactless Deliveries

    With the e-commerce organizations resuming their operations post this pandemic, consumers would feel safe with the deliveries only if it was contactless. Contactless deliveries can be executed in a myriad ways. It depends on the type of business, kind of item purchased, and environmental conditions of delivery. The organizations must be ahead of time in giving their customers a positive experience in a contactless market.

    practice contactless delivery

    i) Gaining Consumer Trust

    The organization’s first step in such unprecedented times should be to ensure its customers about the safety measures being undertaken to give them a contactless experience. Different companies must have designed their own guidelines for different scenarios, but regardless of what those guidelines might be, expectations must be established with customers much ahead of time.

    ii) Clear Communication

    The business must maintain clear communication about the delivery,i.e. When, where, and how the item will be delivered. Unlike normal deliveries, contactless deliveries demand more transparency. There should be alerts when the order is processed, dispatched, or delivered. In other words, there are countless scenarios in which a business can respond to different situations. But the bottom line is that there must be clear communication and specificity between the business and the consumer.

    Also Read: 9 Founders Shared their tips on Surviving Coronavirus Outbreak

    2. Contactless Payments

    Contactless payment is a way to pay for goods and services without using credit cards, debit cards, or hard cash. Normalcy in life is surely going to be hard to achieve post-pandemic. Unlike debit cards and credit cards, contactless payments never touch the point of sales thus making it one of the safest methods of payments for the current situation. thus, creating a contactless payment market would be a wise choice for all the businesses.

    contactless payment providers

    Also Read: The Rise Of Digital Contactless Payments Post The COVID-19 Pandemic

    i) Some Examples of Contactless Payment Providers

    There are a number of ways in which proper contactless payments can be done with the help of some payment providers. Most of the organizations already use all such payment methods and for such businesses who were not using these payment methods much actively, this could be a great opportunity for introducing those features. The following are examples of different payment providers.

    a) Apple Pay

    Apple pay is a preprogrammed app called ‘wallet’ present on IOS mobile phones. There is no need of downloading any extra app because all of the transactions can be managed by apple pay itself. Users can feel secure using the app as it is one of the safest payment methods.

    b) Samsung Pay

    This contactless payment method is used py Samsung mobile users where one can carry all their debit cards, credit cards, or membership cards all in one place. It allows the user to pay online, in person, or in the app.

    c) Google Pay

    Google pay is another popular form of contactless payments used for users who do not have any in-built app on their mobile phones for online transactions. Users can feel confident as the transactions are protected with fingerprint, passwords, face-locks.

    d) Paytm

    Paytm helps the user to transfer money instantly at zero cost using the ‘Paytm wallet. This app can also be used for payments for online recharge, utility bill payments, book travel, or event tickets. The most appealing part about these payment methods is that the user gets gift coupons and vouchers regularly.

    e) PhonePe

    PhonePe is another famous contactless payment provider that ensures its users a seamless payment experience. Users can easily transfer money, pay utility bills, recharge phones, buy gold, and shop online as well as offline.

    iii) Benefits of Contactless Payments

    There are countless benefits of contactless payments not just in times like these. These payment methods, not just help the consumer but also allows the businesses in several ways.

    a) It is More Secure than Regular Payment Methods

    These are authenticated payment methods and are safer than regular transactions through debit and credit cards. The bank details provided by the user are encrypted which makes it hard to breach.

    b) Quicker Checkouts

    In this fast-tracked world, people want to get their work done faster. With contactless payments, you can speed up the check out process which benefits both the customer and the business. It rids you of returning the change and even saves you from entering pins of different devices.

    c) It allows the Business to handle Customers smoothly

    When a business reduces its time for completion of a transaction, it also attracts more customers. By providing contactless payments, a business can improve its customer experience and make them feel safe and confident in such hard times.

    Conclusion

    As we navigate this unprecedented crisis together, it’s important that all the sectors work together as a team. We hope that these research notes shed some light on the contactless customer experience.

  • The Rise Of 3D Printing Technology During The COVID-19 Pandemic

    The COVID-19 pandemic has paved way for a global meltdown. Lockdowns and other measures implemented across the globe have helped in damage control and recovery from coronavirus to some extent, but the side-effects are here to stay. Manufacturing, retailing, and logistics sectors have taken a severe hit. This pandemic has effected damage on supply chains across countries and therefore, the distribution of products and services. The world is going towards a global recession phase. Companies working in the manufacturing sector are being compelled to change their working stack in order to see through this challenging time, one where the very existence of organizations is at stake. Consequently, 3D printing has taken the centrestage and is quickly becoming the baseline tech in manufacturing. This post covers the rise of 3D printing technology during the COVID-19 pandemic.

    Reasons behind the use of 3D printing technology

    3D-Printing

    1)  3D printing technology helps in producing parts and pieces whenever and wherever they are required. This technology doesn’t rely on very expensive moulds for production. It directly helps businesses in the sense that transport costs are cut down since 3D printing allows production of elements within one’s own premise.

    2)  If any problem occurs from suppliers’ side, one can produce the same parts without losing their properties through 3D printing. It indirectly helps businesses to use the wide range of materials they have at hand.

    3) Having a 3D printer in your company can quickly help build products in situations the final product depends on a single missing part. This way, last minute dependencies are taken care of through 3D printing.

    Also Read: Chizel – One Stop Platform for Your 3D Printing Needs

    Use of 3D printing Technology during COVID-19

    1) Oxygen Valves

    Italy uses oxygen respiratory valves prepared through the 3D printing technology. An Italian engineering firm, Isinnova, decided to mass-produce the valves using 3D printing. This was taken into consideration when Italian hospitals ran out of the respiratory valves needed to connect COVID-19 patients to ventilator machines. After examining the valve and creating a prototype, the company collaborated with a local manufacturing firm to create 100 valves in 24 hours which were then directly supplied to the hospitals.

    2) Respirators

    Isinnova has also contributed through the development of highly potential airway pressure masks. The functionality of this mask is that it can be used for sub-intensive care of patients suffering from COVID-19.

    3) Quarantine Booths

    In China, 3D printing is a widely used technique employed for all types of works. During the COVID-19 pandemic, Winsun, a 3D printing company based in China, used its resources to 3D print 15 quarantine rooms for Xianning Central Hospital. The rooms were made up of crushed and ground solid urban construction waste.

    4) Ventilators

    Ventilators are no less than godsend at the time of the COVID-19 pandemic. The University of Minnesota and Protolabs, a provider of 3D printing services, have collaborated for the noble cause of developing the key parts of a low-cost ventilator. Similarly, Formlabs has successfully printed a ventilator splitter which allows a single ventilator to support multiple patients.