Challenging conventional wisdom, carrying a strong belief in an idea, love for their very purpose, acceptability to thoughtful criticism, planning for the perfect timing and executing milestones with a razor focused long-term vision will help entrepreneurs surge ahead on the startup wave.
“ If you are not embarrassed by the first version of your product, you've launched too late.
” _ Reid Hoffman, Co-Founder, LinkedIn and Venture Capitalist
Startups are the very lifeblood of technology innovation. In order to be truly innovative, companies are in want of fresh ideas which may not always be generated from the largest players in the field. HR tech is gaining importance in the era of skilling and tech-based recruitment and employee management services. HR tech also witnessed $153 million pumped into it in 2017, the highest since 2015.
Many entrepreneurs concur that setting up one's own business venture is a dreamy gamble, as there is no guarantee that the business will take off or not. In order to establish a company or a brand, an entrepreneur has to persevere and overcome numerous odds. A startup usually starts with two key ingredients - a visible, pinching problem that needs a solution and a scalable idea to solve it. Every entrepreneur crosses a time when he/she has a great idea, and, perhaps even a few customers, but they just cannot seem to get things to the next level. It is like the old saying, "It takes money to make money." In order to become a bigger business, they need access to big business resources and this is where automation comes into play. Automation technology allows the entrepreneur to do more with less by allowing them to streamline certain tasks and continue scaling without requiring additional resources. Specifically, automation saves time, establishes a standardized process, provides multidepartmental visibility, centralizes communication, and provides superior data and insights to the startup. However, the journey of a startup is anything but easy, tossed with a variety of challenges, here are a few which make some and break some.
Coming up with a great name
This story is from the September 2018 edition of Human Capital.
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This story is from the September 2018 edition of Human Capital.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
