Hiring – Dutch Uncles

Apna, Helping Millions of blue and Gray-Collar Workers

Anju Nambiar — Sat, 17 Jul 2021 08:35:09 +0000

If you’ve been on LinkedIn, you’ll know that it’s a very Professional platform with industry leaders and experts sharing their thought leadership insights regularly. However, it’s safe to say that there’s not many opportunities for blue and gray collar job searching, or networking. Say a plumber or a carpenter joins LinkedIn. There’s not much he/she can do to connect with his peers or find recruiters hiring through the platform. But another big problem in India when it comes to Professional Networking is that most of the workers across the country are not even aware of a platform like LinkedIn.

Apna, the Recruitment Start-up

Apna is a Professional Networking start-up created by an Apple alum. Headquartered in Bengaluru, it’s popular for its Professional Networking platform for blue and gray collar Indian workers. The start-up is bridging the networking gap for the low rung of workers in India. The platform is free to use for job seekers and provides them an opportunity to connect with the top recruiters in the country. They have a mobile app that goes by the same name which is available in multiple languages.

Professional Networking – The LinkedIn for Blue and Grey Collar workers

Apna is a pioneer in the blue and gray collar workforce sector of India. They are enabling the hundreds of low-skilled workers in India to create a digital professional identity for themselves and get access to high-quality jobs.

Apna’s services for India’s Workforce

On Apna’s platform, users can upskill themselves, join communities of job seekers in their own league and get employed. Users can connect with employers who are offering attractive jobs for their skillsets and discover opportunities they wouldn’t have stumbled upon otherwise. They also get a platform to submit digital applications and interact with potential employers. Other features of Apna which job seekers can benefit from include interview performance prep.

Designations available for skilled professionals

Technical roles are up for grabs for blue and gray collar workers. Also, job roles like Carpenter, Painter and Field Sales Agent are the prominent job opportunities available on Apna.

Apna’s numbers speak for itself

The total user base of Apna is averaging around the 10 M mark. The month of May saw 15 M job interviews conducted through their app. It currently hosts over 10,000 top-notch recruiters including unicorn start-ups. Apna’s market position is strengthened to the level that they can open their services in a new Indian city and drive 10,000 job interviews there in a span of two days.

Apna’s Differentiators – why are they different?

Their main differentiator is that the platform is available in multiple languages. They are a vernacular professional networking platform for workers across India who are well-versed in their native, local languages. The next differentiator of the start-up is that they are giving recruiters an avenue to connect with hyperlocal candidates with relevant skills who are difficult to find otherwise. Employers can successfully find high quality talent on Apna with the lowest friction possible compared to traditional recruiting practices for the Blue and Gray workforce segment.

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Noteworthy start-ups in India offering conversational AI and voice based B2B solutions.

What’s in it for me?

The market for vernacular medium solutions in India is growing. Start-ups offering their services in multiple Indian languages can see massive increase in their target consumer base. Vernacular consumer tech start-ups targeting niche customers like gamers (Winzo), social networking app for farmers (Krishify), Instant Messaging app (ShareChat) and Apna are all seeing investor interest.

Consumer tech start-ups venturing into the vernacular space need to create special algorithms for Indian languages and dialects which will be the most challenging part. Due to the complex nature of Indian dialects that have micro variations depending on the geography, you will need to invest heavily in creating an error-free ecosystem for your product/service. You will also need to hire translators, language experts and programmers who can code comfortably in the language of choice. The Indian vernacular consumer base will be 540 M strong in 2022. There is a huge demand and supply gap in the hyper local consumer tech space which start-ups can attempt to fill.

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Is Artificial Intelligence More Hype, Less Reality?

Vaishali Das — Fri, 09 Jul 2021 16:11:40 +0000

Uses of AI in Enterprise Tech

Usually, AI works with the data that has already been updated in the system. It analyses the data for correlations and patterns which are used for future predictions. Chatbots are used in a similar manner where they interact with people and provide automated assistance.

Using AI can be beneficial for businesses in a way that it provides enterprises with an insight of their operations. It makes sure that everything is well documented without any repetitions and merely makes the data analysing part quicker and smoother. But all this can fail if one doesn’t have the proper knowledge of its working and programs.

Is AI, much Hyped and Less of a Reality?

AI being everywhere in the news, it can be said that it is the need of the hour for company’s growth. Companies usually misunderstand the actual functioning of AI and generally don’t have a clear understanding of its programmes. Although it has a promising factor of easing up some of the hurdles of the company, organisations have to overcome the hurdle of implementing AI successfully in order to enjoy its benefits.

According to the recent survey conducted by KPMG, Artificial Intelligence as a technology is moving very fast. Even with ‘AI winter’, a term describing the downfall of AI in technology’s history, the market for enhancing tools and technology never stopped. In fact, people started taking interest in machine learning to ease up their production process. And with this AI made a comeback in the industry sector again.

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Using AI can be beneficial for businesses in a way that it provides enterprises with an insight of their operations.

In the enterprise’s technology, AI has created a buzz amongst the manual workers. With its machine learning algorithm, it is masking the human agency behind certain processes. This has created a much-hyped demand in the market for AI trained people. But because of the less knowledge and understanding of its functioning there has been a shift in the hiring processes as well.

Current Enterprise AI Trends to Keep an Eye Upon in 2021

Starting from investors inclining more towards AI based companies, enterprises are seeking best practices to update their existing data management and IT infrastructure. Organizations are looking at how AIOps and AI network assistants can provide aid to their IT teams focusing more on strategic problems and improve the experiences of their employees and customers.

Some of the AI trends to watch out in 2021:

Greater cloud and AI collaboration which will help in monitoring and in managing the stored data.
AIOps will help IT sectors with an end-to-end visibility needed to support its employees in this new normal COVID world.
In the coming years there will be more structured data that RPA or Chatbots can use to automate transactional activity in an organization.
Artificial Intelligence will become more explainable. Top companies will be investing more in the education of their IT leaders so that they can understand and implement these AI solutions across the network.

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5 key points for a start-up to handle recruiting challenges

Anju Nambiar — Thu, 17 Jun 2021 06:40:02 +0000

Recruiting efforts and hiring always puts start-ups in a fix. While start-ups are on the lookout for deserving candidates that fit in perfectly with requirements, it’s a tough call between wanting to pinch pennies and making the right investment on skilled talent. Even if funding is pouring in, optimal resource utilisation is crucial if you want your start-up to scale up and eventually break into the unicorn or IPO league. Here are 5 key tips to help your start-up navigate the recruiting challenge:

Look for the right balance between skill and experience

Take the middle road when going for experienced candidates and choosing young, fresh-off-the-boat graduates. You need to go for a candidate who’s not too seasoned (they usually expect a fat pay-check) and one who has a strong skill set (someone who is certified and with a measurable portfolio/experience).

This way you can get your hands on a decent candidate who won’t consume a major chunk of the HR budget and will bring in the right mix of talent and expertise even if they aren’t hired for an executive level position.

Sustainable Hiring

As the trend of start-up funding accelerates, so does the trend of winning massive pay cheques. Especially in the Enterprise Tech sector, for qualified professionals skilled in new-age technologies like AI, Blockchain, IoT, and cybersecurity, big pay packages are trending in the job market.

In a bid to acquire proficient talent, it’s important not to press the panic button and compromise on your sustainable recruiting practises. Don’t get into a competition with other companies and offer pay packages that adhere to market standards.

Play to your strengths

Start-ups are clearly at an advantage when it comes to the onboarding process. Unlike large enterprises, where new hires must go from pillar to post, completing one interview round after the other. In the case of start-ups, the final interview with the key decision maker like the Hiring Manager or the CEO occurs soon enough. There are no endless forms to fill out or multiple process checks to be completed. Onboarding is usually quick and easy for start-ups. Take advantage of your speed of recruiting to offer candidates a quick hassle-free onboarding process. It’s also easy to facilitate meetings with the final decision maker in your company. So, allow candidates to experience the transparency of start-up hiring.

Unconventional Hiring

Technology based hiring software that relies on AI and Machine Learning are often difficult to procure for start-ups since they are not feasible from a cost perspective. Investing in Hiring technology or being limited only to metro cities while sourcing candidates may prove to be expensive. Scour candidates in the off-beat track like Tier II and III cities, and even from remote locations in India. Since the pandemic has impacted the job market severely, raw talent can be found in native areas across the country. Connect with candidates remotely and onboard them virtually. This way you will be helping deserving people with the right opportunities and you can optimise costs by taking the off-beaten path.

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You need self-managed, upbeat candidates to onboard who are motivated and independent.

Hire self-managed, upbeat people

For a start-up that’s focused on rapid growth, hand-holding and micromanaging employees is potentially taking several steps backwards. You need self-managed, upbeat candidates to onboard who are motivated and independent.

Keep an eye out for business acquaintances, former colleagues, or even people you have a personal equation with and who you can vouch for in terms of their commitment. Since the environment in a start-up is very dynamic and rarely sticks to a strict routine, you need candidates who are adaptable. Make sure that the person you are hiring is aware of the uncertainties that come with working in a start-up.

Hire people who are looking for a challenge and for the opportunity to grow and learn over someone who’s looking for a safety net and waiting to settle down.

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What is an Employment Agreement?

Roopali Kotwal — Thu, 06 May 2021 07:35:04 +0000

As you step into an entrepreneurship journey, you would need a team to support your dream and to build an organisation. You would need people to work with you so, hiring people with the required skill set will be the next course of action. Now, how do you ensure that a cordial relationship between two parties i.e. you as an employer and the employee/employees (individuals you hire) is established and a mutual trust is formed? How would you want the new recruits to work in your organisation? What is expected from an employee and what will they get in return and on what terms and conditions? The answer to all these questions is by having an employment agreement in place.

Employment Agreement: What it means?

Keeping a track of a verbal conversation regarding the association of an employer with an employee could be troublesome in the long run while building a community. Hence, the requirement to follow a standard way to build trust and understanding between the two parties i.e. the employer and the employee, a formal process of signing a document is created. With the help of a legal team, an employment agreement/contract is designed that states the expectations of the employer from an employee and the benefits and the wages that will be provided to an employee with the terms and conditions to be followed to avoid any dispute during the course of employment or later on. In short, a mutual agreement and expectation is set between both parties before the commencement of the employment. Thus, an employment agreement/contract defines the relationship between the employer and the employee through a written and legally binding document.

Employment Agreement: Who can enter?

An individual of stable and sound mind and reasoning is capable of entering into an agreement/contract. It is also important to understand that the agreement/contract is legitimate if it has not been created under any misrepresentation or undue influence. Thus, an individual with a sound mind willing to work can enter into a contract with the employer (that can be a corporate, non-profit organisation etc.).

Employment Agreement: Why is it required?

Employment agreement is the sole document that protects an employee or safeguards his/her legal rights. The document provides clarity and builds trust and mutual understanding between both the employee and the employer The rights and obligations of both parties are clearly defined in an employment agreement.

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The agreement or contract is legitimate if it has not been created under any misrepresentation or undue influence.

What are the mandatory clauses or terms and conditions?

Below are the clauses or terms and conditions which are mostly covered in an employment agreement or in an employment contract:

Designation

The designation or position at which the employee shall be working in the organisation is a part of the agreement/contract.

Date of Joining (DOJ)

DOJ is the date of commencement of the employment in the organisation.

Place of work

This section explains the location of employment. If an employee is required to work remotely or from a specific location in India as per the work requirement.

Remuneration/Salary and Bonus Eligibility

The agreement must contain the annual gross salary to be paid to the employee. This is an obligation of employment to prove remuneration for the services or work that will be performed by the employee during the employment period. However, adding a joining bonus or a minimum bonus amount based on employee performance or any incentives completely depends on the company policy.

Probation Period

With the probation clause, an employer gets time to review the decision if the hired employee is a right fit, understand the company culture code and is able to perform/behave as desired or meets the requirement of his/her role. Thus, a probation period of one month, three months or six months at times is enough for both the employer and employee to settle. And, if a replacement is required, the notice period process can be simplified as employment could be terminated from either side by giving a minimum notice period that us usually around 15 days or 1 month in probation period instead of 2 or 3 months’ notice period applicable for a confirmed employee.

Working Hours

This section defines how many hours an employee would need to put in for work on a weekly or monthly basis. This is usually designed by the HR team keeping in mind the requirement of the organisation and most importantly, following the labour law to ensure no employee is exploited. In fact, even the employee also justifies the salary received with the amount of time he/she dedicates at work.

Leave or Paid Time Off (PTO)

The number of paid days off at work are covered under the leave policy that is uniform for all its employees.

Duties

This clause does not always list the detailed job description or assignment; the employee will be working upon. However, it provides an insight into the possible work assignment that employee will take up post joining the organisation.

Dress Code

Having culture and setting an expectation for dressing code as per the company culture is important. So, setting the precedence since inception is a good idea especially if the work demands a formal dress code and a policy around it to adhere to.

Fringe Benefits

The employment contract or agreement may or may include all the fringe benefits such as health and dental insurance and retirement or pension benefits. The contract or agreement usually covers the health insurance provider and the beneficiary details. For instance, dependent spouse or dependent parents.

Notice Period

This is one important clause to ensure a minimum notice period is given by the employer to the employee and vice versa at the time of leaving the organisation or termination of the employment for any reason.

Amendment and Termination

Termination is a key clause and an essential part of the contract. The clause states the right of the employer to modify and terminate the employment as per the agreed notice period clause until there is a conflict of interest or any inappropriate behaviour based on ‘no tolerance company policy’. No tolerance activity performed by an employee can lead to his/her immediate termination. The termination of the employment can also happen when the employee volunteers to quit the organisation for his/her personal reasons by serving the minimum notice period as mentioned in his/her agreement or contract.

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The detailed clauses or terms and conditions not only protects the interest of an employer but also, mitigates the risk of unnecessary legal complications which may develop due to unclear documentation or intimation to the employee at any given point of time.

Indemnification

The process of compensation for any harm or loss by one party to another is indemnification. For instance, recovery amount of any training cost upon joining or any relocation expenses paid by the employer if an employee leaves before a minimum period of time or as desired by the organisation.

Intellectual Property Rights

Intellectual property created by the employer at their premises is an asset and belongs to the employer. For instance, huge cost and effort for training is incurred by an organisation. Hence, they have full right to save their intellectual property rights by all means.

Non-compete Clause

The clause limits the employee to open a similar business or to join any competitor for a limited time period after leaving the organisation. Also, the addition of this clause depends on the type of employment and the company business.

Non-disclosure and Confidentiality

As per the contract, the employee is legally bound to ensure no confidential information such as trade secrets, financial information and client details etc. are shared with any third person or with the competitors. This is one of the mandatory clauses in an employment agreement.

Employment Agreement: Why clauses are important?

No one wants to get into any legal hassle while running a company or wanting to scale their company business. Thus, the detailed clauses or terms and conditions not only protects the interest of an employer but also, mitigates the risk of unnecessary legal complications which may develop due to unclear documentation or intimation to the employee at any given point of time.

Offer Letter and Employment Agreement. Are they different?

Absolutely, an offer letter and an employment agreement/contract are different. There is a difference in legal validity. Offer letter contains the basic information like DOJ, location, salary but isn’t legally binding. However, an employment agreement is a legally binding contract between both the parties i.e. employer and employee. And, the agreement/contract must be signed by both parties to show consent on the stated terms and conditions.

Conclusion

The important note for an employer is that focus should not be only on filling up the vacant position or for an employee the idea should not be limited to get a job. Both parties should understand the agreement. Infact, acceptance of the agreement before the employment officially starts is an important factor to establish trust, provide clarity and consent between the employer and the employee. The legal binding protects the interests of both parties with proper documentation i.e. employment agreement/contract that contains essential terms and conditions enforceable in the court of law.
Entrepreneurs who are just starting off with their small new businesses must also understand the gravity and importance of building this trust with the employees they are going to hire. It is crucial to follow the latest employment laws/labour laws in India to ensure legal compliance. And, ensure to always run the contract through the legal department in case of any concern or changes required. The employment contract can be for an indefinite period of time but with clear termination and notice period clause or for a definite period of time with applicable law and Jurisdiction in case of any dispute that may arise particularly if an overseas employee is being hired and is working remotely for an employer in India.

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What are the Benefits of Working from Home?

Preeti Verma — Wed, 21 Apr 2021 09:35:03 +0000

I have been enjoying my work from home stint since the outbreak of the pandemic. Working in pyjamas and t-shirts, and sipping tea give you a sense of easiness and comfort. This is the most comfortable dressing code for work, according to me! By breaking the barrier of 9-to-5 working hours, I feel a lot more accomplished. I have heard about the common benefits of working remotely (and yes, I am now experiencing them!). After working for more than a year now from home, I believe flexible work is the future of work. With companies all over the world asking their employees to work from home, remote work has become the new normal for businesses and employers. Some of the benefits of working from home for employers and employees can include improved wellbeing and lower costs.

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Retaining top talent, staying competitive in their field, and even saving on business costs are some of the few added advantages employers are witnessing with the work from home benefit.

However, working from home doesn’t mean you are on your own. In fact, you tend to contribute more hours, when working from home. Many progressive companies are now letting their employees work from home. They are preferring to hire freelancers, digital experts, and others, who don’t need office and mostly prefer working from home. One of the major advantages of working from home is you can save a lot of time and money on commuting from home to office and vice versa. In metros, this is a real time burner, where you waste your maximum time jammed in the traffic.

Working remotely not only allows increased flexibility but also autonomy for employees. Nine out of 10 workers, who are currently working remotely, plan to do the same for the rest of their careers. With supporting technologies such as videoconferencing software, collaboration platforms, and cloud services, people are now connected 24X7. This is allowing them to have meetings and complete projects from anywhere, anytime. But it is not just employees who benefit, employers are starting to view remote work as an important part of hiring. Retaining top talent, staying competitive in their field, and even saving on business costs are some of the few added advantages employers are witnessing with the work from home benefit.

Globally, working from home was not the new concept. With the ability to work from anywhere, anytime, remote work was a full-on global work movement even before the Covid-19 pandemic. But now this pandemic has forced millions to work from their homes. In the year 2018, over 50 per cent of the US workforce was showcased to be working remotely. Not just the US, Europe’s remote workers have also surged from 7.7 per cent to 9.8 per cent in the past decade. By providing the flexibility to work when and where, companies can give big advantages to their employees. But for India, working from home is surely a new trend after the coronavirus pandemic. Before the lockdown, it was mostly IT companies, which used to allow their employees flexible working. But now everyone is jumping into this to make work from home possible.

Now after witnessing remote working for over a year, there are a host of advantages for employees as well as for employers. Let’s list out the best benefits of remote working or work from home for both.

Better Work-Life Balance:

For many businesses, few years ago, working remotely would have been nearly impossible. With the absence of the right technology, an employee had to go to the office to get its work done. And there was a downside to all these. There was a blurred line between work and home life. Maintaining a healthy work-life balance is top of mind for many employees. The ability to balance these two worlds has become the key to feeling happier and more productive while at work. Saving time that would otherwise be spent on a long commute allows employees to have better work-life balance and adds hours back into their daily lives. There are many things that can be taken carried off with this. Whether it is dropping kids off at school, running some daily errands, attending an online fitness class in the morning, or managing kids and old ones, these tasks and more are all easier to balance when you work from home.

No Commuting Stress:

The average daily commuting time in India to office is 180 minutes, this includes the daily traffic. Imagine spending 3 hours commuting daily to your workplace, and it really adds up. Cutting out a commute can be both a huge morale booster and a huge time saver. Employees will also waste less money on petrol, gas, diesel or public transportation. This fatigue adds to various diseases and increases level of stress and anxiety. Commuting 10 miles to work every day is associated with health issues like higher cholesterol, elevated blood sugar, and increased risk of depression. Avoiding the commute to office helps you support your mental and physical health. The time saved will allow you to focus on other priorities outside the office work. This can include extra sleep in the morning, spending more time with the family, getting in a workout, or eating a healthy breakfast.

Location Independence:

Working from home also gives you an access to a broader range of job opportunities. These opportunities are not limited by geographic location and gives you a chance to work from anywhere, and any time. Also, this can be a boon to people who are staying in small towns and cities and are deprived of such opportunities. Work from home will give them a good prospect and better salary. Having no set job location means that fully remote workers could also travel and live as digital nomads, while having a meaningful career. People, who are bound to move frequently, such as military or government spouses, can also benefit from having a remote job that can be done from anywhere. This way, they will not have to start over from the scratch with each move.

Promotes Wellbeing:

With no commuting, and no long hours in the office away from family or friends, working remotely can improve the health and wellness of employees by reducing stress. Working in isolation limits exposure to potentially sick co-workers. However, employers shouldn’t skip a wellness plan in the remote workplace. Time to time, they should promote wellness programs such as access to the gym or zumba classes. Wellness program is important for both the work from home and work from office employees. On the same time, you can also pursue other activities or hobbies and improve personal relationships, among other things.

As per a survey, 72 per cent of employers say remote work has a high impact on employee retention. This means employees stay longer with their employers when they have remote work options. Not only this, working from home can also help you to lead better healthy life in various ways. You get ample time for physical activities. You automatically switch to healthier food. You are now less prone to illnesses. Working remotely can give employees the time and environment needed to make healthy choices.

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With supporting technologies such as videoconferencing software, collaboration platforms, and cloud services, people are now connected 24X7.

Money Savings:

Of course, you will see an immediate difference in your bank account when you don’t need to bear the costs of commuting. You will also find savings in other areas such as gas, car maintenance, transportation, parking fees, a professional wardrobe, lunches or snacks, and more. These money now you can save and put back in your account. You won’t have to force yourself into a suit and polished shoes anymore if that’s not your style. You don’t have to maintain a separate wardrobe for work. Similarly, it is a win-win situation for both employers and employees. With work from home being the option, employers don’t have to rent out an office. No overhead cost, and transit subsidies. As per analytics, a normal company can save over $11,000 per annum for each employee, who works from home at least for some time. Companies should consider this as a long-term solution.

Better Initiative for Environment:

Imagine if more and more people start working from home at least half time a year than the greenhouse gas emissions will be reduced automatically. There was a news last year that people in Punjab can clearly see the Himalayan mountain range. This was visible from more than 100 miles away due to the reduction in air pollution caused by the country’s coronavirus lockdown. With consumption of less paper, air condition, microwave, and lighting, remote working has potential to improve air quality.

Increased Productivity and Performance:

The ability for employers to trust their teams, even when they work out of the office, could be the key to driving more productivity than ever before. Data shows that when employees are able to skip the extra coffee breaks, a long commute, and any other distractions to focus on their work, productivity reigns supreme. A two-year remote work productivity study showed, the researchers followed 500 employees after dividing them into ‘remote’ and ‘traditional’ working groups. The remote working group results not only showed a work productivity boost equal to a full day’s work, but also fewer sick days and a 50 per cent decrease in employee attrition. Working from home leads to fewer interruptions, less office politics, a quieter noise level, and less (or more efficient) meetings. Due to lack of commuting, remote workers typically have more time and fewer distractions. This is resulted to increased productivity due to a huge benefit of working from home for both employees and employers alike.

Improved Inclusivity:

Remote work enables companies to embrace diversity and inclusion by hiring people from different socioeconomic, geographic, and cultural backgrounds and with different perspectives. This can be challenging to accomplish when recruiting is restricted to a specific locale that not everyone wants, or can afford, to live near. With allowing work from home, companies choose to support diversity, community, and family. Remote work gives people steady employment at an onsite job, like those with disabilities or caregivers who need a flexible schedule. This is by providing the opportunity to follow their career goals without worrying about commuting back and forth to an office. It also gives employees the flexibility to get to doctor’s and other healthcare appointments when needed.

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Newly Minted Start-up Unicorns in a Hiring Spree

Chayanika Sen — Thu, 15 Apr 2021 10:35:03 +0000

While the world is going through a pandemic and the second surge of Covid-19 is slowing down business and the economy as a whole, India’s start-up scenario is quite different. After bouncing back from last year’s slowdown post the lockdown, most start-ups in India are expecting a hiring uptick. 72% of founders have mentioned that there would be a rapid increase in recruitment in the start-up sector in a survey conducted by InnoVenCapital. Logistics, digital media, e-commerce, and deep tech are the most prominent industries that are going to be more aggressive in their hiring strategy, the report mentioned. With the change in customer behaviour, the “digital-first consumer focus business model” has become the top priority for most companies.

While the pandemic forced some companies and industries to take tough calls like realigning team size, pay cuts, and job loss, the pandemic also added muscles to specific industries like EdTech, fintech, health tech, epharmacy, and they are expected to hire with a high vigour this year. For example, Ascent Health & Wellness Solutions is looking to hire 4,000-5,000 people this year and expand their current pharmacy tie-ups from 50,000 to over one lakh.

Investors are also investing a lot in tech-enabled business ideas post the pandemic, which is also giving birth to many new tech innovation start-ups in India at a rapid pace. In 2020, the start-up growth rate was 20% more in India compared to 2019. And the momentum will be continuing in 2021 too. However, the biggest challenge for start-ups is finding the right talent. 52% of the founders mentioned in a report that hiring right has been their biggest challenge.

The rise of the Indian Unicorn in 2021 and 2020

After the aftermath of the pandemic, several start-ups have managed to mint fresh funding and forecasting a solid growth trajectory. Many start-ups are now looking to hire, especially in crucial technology and leadership roles. Amidst all others, EdTech, fintech, software as a service (SaaS), and eCommerce have significant hiring spree.

In 2020, eleven Indian start-ups became unicorns reaching the much-coveted $1 billion valuations. These eleven Indian start-ups include Unacademy, Pine Labs, Nykaa, Postman, FirstCry, Zenoti, Razorpay, Cars24, Zerodha, Dailyhunt, and Glance. Not just that, 2021 Q1 saw a record highest seed funding deals since 2018. India witnessed the first health tech, social commerce, and e-pharmacy unicorn this year. The six start-ups that entered the unicorn status within six days are fintech start-ups CRED, social media start-up ShareChat, wealth management company Groww, messaging platform Gupshup, social commerce start-up Meesho, and epharmacy PharmEasy. It is projected that at this rate, India is about to have more than 100 unicorns by the end of 2021.

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With the change in customer behaviour, the “digital-first consumer focus business model” has become the top priority for most companies

The hiring spree of Indian start-ups

Byju, the EdTech start-up, is planning to hire 6,000-8,000 employees in the next year. With schools yet to reopen, online learning is on the boom. While students are focusing on utilizing their time to the maximum for test preparation, this EdTech start-up is looking to hire for technical and nontechnical roles along with top-level executive positions to spearhead its growth. For an entry-level Business Development Associate role, the stipend is ten lakhs per annum.

On the other hand, the fintech farm, Bengaluru-based Razorpay, is looking to hire 500 odd employees. After raising $100 Mn in its Series D round, the company achieved unicorn status, led by GIC and Sequoia Capital India. The start-up’s most of the hiring will be for their engineering and product teams to boost new solutions as the company aims to build new banking solutions and payment methods for small and mid-size businesses. The company is also looking to hire its customer experience team, finance team, sales, and operations team. Founded by Shashank Kumar and Harshil Mathur, Razorpay is a payment gateway service that currently powers digital payments for over 200K small and large businesses. Among these, some of the prominent names include Airtel, BookMyShow, IRCTC, Aditya Birla Capital, NSE, etc.

The next unicorn that is looking to bolster its headcount is Pine Labs. The Noida-headquartered company has announced to hire 300 employees in sales and tech roles after becoming the first unicorn of 2020. Founded in 1998 by Lokvir Kapoor, Pine Labs served 100K merchants in 3700 cities and towns across India. The company has decided to bolster its digital payment offerings across the United Arab Emirates, India, and Malaysia, where it has already established its footprints. The company also plans to venture into new markets in South East Asia. As the aftermath of the COVID-19, digital payments will continue to see a more excel rapid lent adaptation. Thus, the company is determined to invest in its tech and sales workforce to enable them to take its products to the larger masses. Pine Labs helps online and offline transactions and claims to process $30Bn payments per year. In March 2019, Google Pay collaborated with Pine Labs to allow offline transactions on Google Pay through Pine Labs’ Unified Payments Interface (UPI)-based digital payments product.

US-headquartered spa and salon software product company Zenoti has recently become a unicorn after raising $160 Mn in a Series D funding round led by Advent International through Advent Tech and Sunley House Capital. The start-up now is also looking to add over 400 new hires to its headcount. While the company is looking to add most of its headcount in India, the rest will be added in Seattle, Australia, and United Kingdom. The company currently has about 550 employees and is planning to add headcounts for new product development and create additional products to cater to the industry. The company also has a market expansion plan for sales and marketing as well. It is to be noted that Zenoti is the first vertical SaaS start-up that could enter India’s unicorn club. Vertical SaaS start-ups cater to niche customers as compared to horizontal SaaS start-ups.

Founded in 2010, Zenoti is an all-in-one cloud-based software salon, spa, and medispas. It has various capabilities, including appointment scheduling, billing, built-in marketing, CRM, loyalty features, inventory management, online booking, etc. The founders are Sudheer Koneru and Dheeraj Koneru.

Another unicorn that is looking to bolster its employee base is Postman. The company plans to hire critical leaders across various departments, including product, engineering, and design.

Glance, which achieved unicorn status in December 2020, is looking to ramp up its headcount by 30-40%. The current employee base is 400. The company plans to ramp up headcount to strengthen its capabilities in artificial intelligence, technology and product development, and international market expansion. The company is a part of InMobi Group and plans to expand in the global markets in Southeast Asia, Latin America, and the US.

Top Indian start-ups that are hiring and should be watched out

UpGrad

Founded in 2015, UpGrad is headquartered in Mumbai. The most common skills they look for are digital marketing, customer relationship management, and SQL. With online education continuing, they are on a hiring spree.

Cred

Headquartered in Bengaluru, Cred is a credit card reward platform. They hire actively for engineering, support, art, and design.

Unschool

Another E-learning startup based out of Hyderabad was among the top startups in 2020 in India. Their most considerable job functions include operations, marketing, and business development. They work on intensive and gamified models. The most common skills they look for are Digital marketing, C, and Python.

Unacademy

Headquartered in Bengaluru, Unacademy is another top start-up in India that constantly scouts for skills including C, C++, and customer relationship management. Their largest hiring departments include education, business development, and marketing. It is also the second e-learning startup to enter the unicorn club.

Whatfix

Another Bengaluru-based startup, Whatfix, is a SaaS company. It helps businesses to drive digital adoption and elevate user experience across enterprise applications. Their largest job functions include Engineering, support and sales.

Razorpay

Razorpay, another Bengaluru-based startup, look out for different departments, including engineering, business development, and sales, after launching a slew of products for small business owners, freelancers, and end consumers.

Zigram

This Gurugram based startup has the most significant functions across research, business development, and engineering. It works in the fields of digital transformation, risk management, and enhanced data asset quality. It works towards building and managing data assets for customers and has been hiring actively.

Yellow Messenger

Founded in 2016, this Bengaluru-based startup has the most significant job functions across engineering, business development, and sales. It offers conversational automation across different channels, including WhatsApp, Google assistant. As brands look to go direct to customers, the startup has been actively hiring and expanding its operations.

Pee Safe

Pee Safe hires graphic designers, product development, and sales management. Based in Gurugram, PeeSafe has disrupted the female hygiene segment with its innovative offering. Apart from female hygiene products, they also have surface disinfectants, sanitizers, and face masks. The company has been seen a rise in online sales since the onset of the pandemic. Their largest job functions are sales, arts and design, and marketing.

Urban Company

This Gurugram based startup has gained momentum after the pandemic. It is a home-based grooming, appliance repair, and maintenance service that actively hires in marketing, engineering, operations, and data analysis roles.

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Emerging skills in 2021 lie in cybersecurity, cloud computing, DevOps, AI, and Machine learning, augmented reality and virtual reality, and blockchain

Few more start-ups that are actively hiring:

SigTuple Technologies: Hiring across engineering and operations.
Open Financial Technologies: This fintech is actively hiring for a designer, engineering, marketing, operations, product, and sales roles.
Meesho: This e-commerce reseller network is actively hiring for engineering and marketing roles.
DailyNinja: Is hiring for engineering roles.
ClearTax: Is hiring for product, marketing, engineering, and designer roles.
Alt Digital Media Entertainment: Is hiring for supply chain management, technology, and logistics roles.

2021 start-up salaries

Some of the start-ups and unicorns are paying handsomely in 2021. While 2020 had been a bad year for the salaried employees, 2021 looks different. AON’s survey across 1050 organizations across 20 sectors revealed that there would be a 7.3% salary increment in 2021 while the hike in 2020 was 6.1%. The survey further revealed that companies are genuinely going to offer increments, and it is not an alternative to previous salary cuts. The report also highlights that companies have not changed the compensation structure, although employees continue to work from home. Instead, many companies offer internet connections and ergonomic office furniture so that employees can continue to work without much hassle. Hi-tech, IT-enabled services, life sciences, Information Technology, and e-commerce remain some of the highest paying sectors.

Most demand skills in 2021

As the pandemic influence consumer behaviour and how businesses are operating, some of the emerging skills in 2021 lie in cybersecurity, cloud computing, DevOps, AI, and Machine learning, augmented reality and virtual reality, and blockchain. Start-ups that work in these domains are willing to pay lucrative salaries even for entry-level and key leadership roles.

Takeaway

As start-ups are coming up with new business models in the pandemic hit world, they are ramping up their hiring. Moreover, the start-ups that have recently received funding from investors and have achieved unicorn status are aggressively expanding their operations and thus are in a hiring spree. If you have some of the most in-demand skills, you are sure to land up a dream job in some of the most promising start-ups.

The post Newly Minted Start-up Unicorns in a Hiring Spree appeared first on Dutch Uncles.

How Do Small Businesses Recruit?

Chayanika Sen — Fri, 09 Apr 2021 10:29:41 +0000

Small businesses have to compete with large enterprises on many fronts. Hiring and recruiting is definitely one of them. Unlike corporate giants, small businesses do not have the luxury to hire a recruitment agency or have an internal recruitment team to fill up the positions quickly. Additionally, they are yet to build their employer brand that can attract top talents. However, there are many positives to working in small businesses. You work as a closely-knit family where each person is heard and works collaboratively to make the business successful. Small companies can adopt several tools and strategies to entice candidates, but before that, let’s take a look at small businesses’ growth plans in recent times.

Growth plans of small businesses in the recent time

There has been tremendous growth of small businesses in recent times. It is the second-largest employer in India after agriculture. With the government’s promotion of initiatives like vocal for local and offering different schemes to support small business owners, there has been a rapid surge of small businesses. Many of the businesses are already doing well and are looking to ramp up their teams. If you are one such small business owner, then here are some ideas to help you recruit better for your small business.

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As a part of your hiring strategy, make it a point to show candidates that you are a safe place to work

Small business surviving Covid-19 and hiring

2020 has been a tough year for everyone, especially small businesses. While many small businesses had to shut shop, some are still crippling back to normalcy. As businesses are opening up, small business owners focus on rehiring their old employees who were laid off during the lockdown period. Some business owners are busy looking for replacements for employees who do not wish to return. Amidst all of these, there is a requirement for new hires to take care of the safety measurements to stay protected from the virus. It is only natural for candidates to feel sceptical and scared to join a new workplace. So, as a part of your hiring strategy, make it a point to show candidates that you are a safe place to work. Mention in your recruitment copies what all safety protocols you are putting in place. Include them in all your branding material, website, career pages. Share and follow all the Covid-19 protocols during the interview. If possible, conduct virtual interviews. This will ensure your candidate that your workplace is safe to join.

If not anything else, the virus has certainly taught us that life is unpredictable. So, keep your hiring plans flexible. In an Addison Group survey conducted in 2020, 500 hiring managers were interviewed. 56% of the respondents said they have performed hiring activities remotely, whereas 21% said that virtual interviewing would become a permanent arrangement for their hiring processes. So, prepare your employees for virtual onboarding and training and get ready for the new normal.

How to know you are ready to hire

Did you ever imagine that you will be expanding and having employees on board when you started your business for the first time? But now that your business is growing, are you sure this is the right time to hire? It’s not just you but the dilemmas of many small business owners. The most significant indicator is your company’s growth forecast. While it may seem an obvious argument that “growth first” and “hire second”, know that hiring may take up to a year to find the right candidate, have them on board, and let them acclimatize with your work culture. Many experts recommend mapping your business growth milestones. It is important to stay realistic when mapping goals. Once you are done with the mapping process, start with the hiring process at least eight months before the resource is needed. This way, you can have your talent pipeline ready and have the right talent at the right time.

The next obvious sign is when you see your employees are swamped with work throughout the week. If you notice that your employees are staying “really busy”, the next step is to gauge the elevated work levels’ sustainability. If you are sure that the boom will last, it is time to hire. If you think the boom is seasonal or periodical, hiring a part-time or a freelancer can also solve your problem.

CEOs of small businesses and start-ups take pride in being a jack of all trades. From accounting to operations, you might be handling everything all alone. But if you are finding yourself bogged down by operational tasks, it is probably time to hire someone to take things off your plate. Let the new recruits manage operations while you can focus on business development and lead generation.

Listen to your customers too. Are they repeatedly asking for services that you don’t provide? Are you declining large orders just because it’s beyond your production capacity? Communicate with your customers regularly and keep track of all the requirements to know when is the right time to hire. All these checkpoints will help you determine the right time to hire.

Some of the tools used by a small business for recruitment

As LinkedIn mentions in a 2019 report, some of the top tools that small businesses rely upon are:

Referrals from current or former employees: 49%
Recruiters: 42%
College and graduate schools: 41%
Referrals from the personal network: 40%
Online job site: 38%
Referrals from partners, advisers, investors: 36%
Local newspaper: 30%
Social networks: 18%
Company websites: 19%

Quick hacks used by fastest-growing SMBs

The most successful small businesses are using a mix of different channels to keep their candidate pipeline growing. Some of the top strategies that these small businesses are following include:

Top talent at colleges: 53% and trade schools: 30%
Using current or former employee network to tap talent: 45%
Seek reference from peers, advisors, partners, investors: 41%

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Referrals are a great way to screen potential candidates even before the interview process

Some of the biggest hiring challenges of SMBs and how to overcome

Hiring the right candidate is no easy job, and small businesses have their share of challenges. Let’s look at some of the most common challenges and understand how you can overcome them.

The number one challenge for small businesses regarding hiring is finding the right candidate and building a pipeline of future candidates. To keep the future job pipeline ready, small businesses can leverage a mix of hiring resources like online job sites, social networking platforms like LinkedIn, and referrals from your existing employees. You can even tap your former colleagues, employees, and peers to keep your referral pipeline flowing. Finally, you can always leverage the non-digital and traditional approaches like newspaper ads to keep your hiring pipeline ready. A LinkedIn survey found that 43% of small businesses in the retail and wholesale industry have relied on newspapers for hiring in the last 12 months. In contrast, the manufacturing industry used newspapers only 21%. Thus, it is also essential to understand where your potential candidates are spending their maximum time before making your move.

Small businesses are sprouting like never before, which means you have to face tremendous market competition to acquire customers and hire the top talents. In such a scenario, when everyone finds new ways to entice the candidates, try to build a rapport with the prospective candidates by telling your story. Don’t hesitate to emphasize the benefits of working in your company. An excellent place to start is interviewing your existing employees and finding out what they like about working in your company. Highlight these points when you approach your potential candidates.

The wrong hire is another challenge that small businesses face often. How do you ensure you are hiring the right candidate? To ensure you are not making a hiring mistake, have a compelling and detailed job description handy. Set up a standardised interview process so that your hiring process is uniform.

How to hire quickly

Often small businesses need to hire quickly, which is also one of its biggest challenges. While a hiring strategy depends a lot on the nature of your business and operating style, here are some of the quick hacks that most small business owners rely upon. These include:

Utilising referrals

Check with your existing employees or network for referrals. Referrals are a great way to screen potential candidates even before the interview process. While you can’t be sure about the work ethic and work style when you hire a stranger, hiring a referred candidate can give you some sense of security in terms of work ethics, working style, learning capabilities, etc. But to ensure your referral program work, ensure you have some incentives. You can also tie a portion of the incentive with the performance of the new hire. This model can keep everyone motivated to put their best foot forward.

Niche job site

While it is easy to put the open positions on any job boards like LinkedIn, Naukri, or Monster, there are chances that your job ad would get lost amidst the sea of available applications. Niche job sites do wonder in such cases, and you end up hiring better. For example, if you are looking to hire a part-time employee, Flexijobs is a great portal to look for.

Hire on a trial basis

Hiring a freelancer or on a trial basis is absolutely a risk-free way to test the talent of the employee before you hire them full time. Let the candidate work with your team for a few projects on a trial basis, and if you find him/her suitable for your needs, you can go ahead and hire full-time.

What kind of hirer are you? Time to introspect

Now that you are armed with the different hiring tools and strategies to explore let’s take a peek inside and introspect. What kind of hiring manager are you? Do you prefer a quick hire, or are you a medium or slow hirer?

Fast hirers take less than a month to fill up an open position. Fast hirers rely more on referrals, online job sites, and colleges to pick up candidates. A fast hirer will ask for referrals from existing employees, participate in campus hiring or recruiting fairs, and look upon online job sites like LinkedIn, Indeed, Monster, etc.

Medium hirers take between one and two months to recruit a candidate for any open position. Apart from a referral from existing employees and online job portals, medium hirers also rely on recruiters, referrals from personal networks, colleges, etc.

Slow hirers can take up to three months to hire. They mostly rely on colleges, job sites, job posts, a referral from the personal network, etc. In short, they have a longer hiring process and the entire process costs them a lot.

So, introspect and understand what your recruitment style and strategy are. Are you a slow hirer or a fast hirer? Depending on your business needs, you can either be a slow, fast or medium hirer.

Time to take actions

Now that you know how small businesses are hiring and recruiting talent, it is time to put your knowledge into action.

The post How Do Small Businesses Recruit? appeared first on Dutch Uncles.

How to Build a Recruitment Process to Hire Top Talent for Small Businesses?

Preeti Verma — Tue, 06 Apr 2021 10:35:04 +0000

A company is called unique when it has an exceptional idea or concept and extraordinary people working by its side. And to get the exceptional people, a strong recruitment process is mandatory. But, recruiting a right talent for the right position at a right place is a challenge for any size business. Each and every person has a set of roles and responsibilities that helps a company to grow further.

To build a pool of talent in any company, the Human Resource department is initially set up. It is then the core responsibility of a Human Resource department to hire the talent for the respective department. This hiring process involves everything from identifying, attracting, screening, shortlisting, interviewing, selecting, hiring, and onboarding employees.

The recruitment teams can depend on the size of a company. Moreover, in a sized organisation, recruitment is typically the responsibility of a recruiting manager. On the other hand, many companies outsource their recruiting needs from the third party. And some rely mostly on advertisements, job boards or sites, and social media platforms to recruit talent for their new positions. Some companies also prefer recruitment software to fulfil their hiring requirements.

Before starting a recruitment process, set out a few goals. Allocate a budget for your candidate, pre-plan things in advance so that you get the best from the process. According to a report, it is estimated that, on average it takes 36 days to fill a given position and it costs over $4,425. Many of them will agree that small businesses do not have an extended budget or that kind of time to dedicate to hiring for every new employee. However, this can be done by improving their efficiency and effectiveness of the recruitment process. Before moving ahead, here are few guiding tips that will help you in building a strong recruitment process to hire top talent for small businesses.

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There are many companies, which are luring their existing employees to share referrals for the desired positions in the company. In exchange, companies offer referral bonuses

Ways to make recruitment process efficient

Describe the Job in Detail

Describing the job in detail is not actually a part of recruitment strategy, but it is a quick way to improve your recruiting success. Hiring a top talent means you need to attract elite candidates. If you want your company to stand out in a crowd, then this is the best way. The best job descriptions are specific and clear. They outline what the job entails and what actually they are looking for in a candidate. Try to keep your job description clear and precise so that applicants feel comfortable reading through it entirely. It can be beneficial to ask your team to help write the job description so it is as accurate as possible.

Place an emphasis on writing reasonable job descriptions. Some companies ask for significantly too much or too little in their job descriptions. A company looking for an entry-level employee may ask for three to five years of experience in a role, which may not be a reasonable request given the volume of recent college graduates applying for entry-level jobs. Other companies may use broad phrases like ‘seeking someone with an entrepreneurial spirit,’ which is ambiguous and subjective. Write specific and reasonable job descriptions. Be fair about what you are asking for, and make sure the qualifications you want are specifically addressed.

Simultaneously, it is important to be detailed and reasonable in your job posting. Sometimes job postings ask for too much and plenty of qualified people drop from the listing because they feel they can’t do the job. Make sure that you put down the actual things that are required for the job. Don’t put 10 years of experience as a requirement when someone can do it with just two years of experience.

Using Social Media For Recruitment Process

Social media is an important tool that can set your business to new heights. On the same side, it can help the company to recruit new talents. The company can use its social media accounts to give its potential employees a sneak peek of its work or what it is like to work for its business. Social recruiting also known as social hiring and social media recruitment is a method of using social media platforms such as Twitter, LinkedIn, Instagram and Facebook to advertise jobs. This tool also helps in finding new talents, and communicating with potential recruits about company culture. These platforms also help a company in making a job post much more interesting than just bullet points on a page describing duties.

Using Personal and Professional Contacts

Sometimes personal and professional contacts can be of great help. Spreading mouth-to-mouth information can attract the right candidate. There are many big organisations, which are still following this process. This method takes a little more effort, but believe me it is well worth. Use your own contact list to search for potential employees or for people who may be able to refer someone. Find potential candidates either in your personal contact list or in your professional contact list. You just have to filter your contact list to find the right source, who can help you get in the right person.

Other Job Listing Sites for Recruitment Process

These days there are a huge number of jobs listing sites that can take all your responsibilities in hunting for a perfect candidate. Similarly, local trade associations offer a great resource for a pool of talent and people who are passionate about the type of work they do. You will probably be able to post jobs for free in their bulletins or newsletters. Like if looking for an entry level position then local colleges, universities and junior colleges generally have career centers. These centers are of great help, they welcome job postings and they can share with their students and alumni. In the same way, if you are looking for someone in mid senior level, business colleges and specialty schools cater to people going back for advanced degrees. Contact their career centers or the departments that most closely relate to the position you are hoping to fill. If a person is out of a job then that doesn’t mean that he/she is incapable or not talented for that particular position. There are unemployment offices, which also help unemployed people to get jobs.

Narrowing Down the Resume via Comparison

Become more efficient with your interviewing processes by narrowing your job requirements down to only those skills that are really required to do the job. Compare your job requirements list to the resumes you receive for the job and find places, where you might be able to compromise. You won’t be the first one to compromise on the original job requirements to allow a talented employee to join the organisation. In fact, 52 per cent of recruiters tell us they compromise to be realistic when a resume doesn’t match a job description. Before you discount a candidate’s application, consider how their skills might fit into your organisation and make sure you aren’t looking for the elusive purple squirrel.

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Write specific and reasonable job descriptions. Sometimes job postings ask for too much and plenty of qualified people drop from the listing because they feel they can't do the job

Recruiting Process Through Referrals

There are many companies, which are luring their existing employees to share referrals for the desired positions in the company. In exchange, companies offer referral bonuses. It is a serious perk for employees, who want to help their friends find employment. And in return for job seekers, this informality immediately breeds confidence to reach out and acing the interview. While this fits under the social media umbrella, you could also encourage your employees to post on their own. It stands to reason that there’s a higher likelihood someone will fit in with a company’s culture if they already get along with at least one person.

Offer a Well-rounded Benefits Package

A growing number of employees, particularly millennials, are these days willing to moderate their salary expectations in favour of a well-rounded, balanced work environment. By offering such perks as flexible schedules, rewards cards for business expenses, health insurance and retirement packages, you can make your company seem compelling and pleasant, even if you don’t pay the highest rates around. Wise investments in employee benefits may offset costs because they’ll allow you to retain top talent without having to issue exorbitantly high pay checks.

Multiple Layer of Zeroing In

The churning out process varies from company to company and role to role. In a standard interview process, candidates must go through a phone screen, onsite interview, reference checks, and the offer stage. The initial phone interview is typically conducted by the recruiter for the role. However, for high priority candidates it can help to have the hiring manager take the call. The purpose of a phone interview is to make sure that you advance appropriate and qualified people to the next stage.

The onsite interview is perhaps the most make-or-break moment of the entire recruitment process. This is when you get the information you need to say goodbye to a candidate or extend them an offer to become part of your team. Therefore, it is important to structure your interview process. Establish what you are looking for in a candidate before they come in. If you are deciding between two candidates, you can reduce the effects of unconscious bias with an objective framework for evaluation. You can evaluate different areas such as culture fit, behavioural fit, skills fit, etc. Similarly, it is important to collect interview feedback quickly. When one person is in charge, you can be a lot more confident that great care goes into each and every hiring decision. The responsible stakeholder can’t shrug off a poor hire as just a group call. In a way, hiring managers are more likely to act as advocates and make sure new hires are successful when they feel direct responsibility for the final say.

If, in case, you are ready to make an offer. Resist the urge until you have done thorough reference checks. The cost of hiring a mediocre performer into your organisation is great, and it is ultimately in your team’s best interest to take reference checks seriously. But to make reference checks worth your while, make sure you are asking the right questions. It is hard to get the full picture from references unless you do some digging.

Emphasis on Diversity in the Recruitment Process

Building a diverse team enables you to be more innovative. If everyone you work with has the same work experiences as you, then how can you get different, creative ideas? A diverse team is important to growth and brings out more creativity. So, make sure your job descriptions aren’t limiting your candidate pool. Avoid using pronouns in your job descriptions. You can initially ask some basic questions through email, or conduct an initial interview by phone before meeting in person to avoid judging a candidate based on appearance. Consider candidates from diverse backgrounds, who possess core competencies and transferable skills. They may bring a fresh perspective to your team.

The post How to Build a Recruitment Process to Hire Top Talent for Small Businesses? appeared first on Dutch Uncles.

Razorpay Plans for Expansion in 2021

Aakash Sharma — Tue, 16 Feb 2021 12:35:04 +0000

Razorpay, the Bengaluru based fintech unicorn, has tripled its payment volume in the past 12 months, thanks to thousands of small and medium-sized businesses, mainly from Tier 2 and 3 cities, which chose the payment gateway for the first time. The company now intends to invest heavily in strengthening its fraud and security analytics infrastructure and creating supra-local solutions to provide a seamless and secure payment experience.

Following rapid business growth in 2020, Razorpay is now creating jobs for over 650 employees to meet SMEs’ ever-changing payment and banking needs. The main goal of the fintech giant will be to expand the engineering, product, customer experience, sales and marketing teams at different levels.

Razorpay’s Focus on Easing the Lives of Small Businesses

With the growing adoption of digital payments during COVID-19 and the thousands of businesses connecting to the internet for the first time, Razorpay captured the opportunity for innovation in business payments. Its expansion and recruitment plans are motivated by more investment in product development, customer experience, and new additions to the existing product line to meet SMEs and MSMEs’ changing payment and banking needs.

Razorpay’s Expansion of its Team and Operations

The company believes that new team members will join its workforce with new ideas, unstoppable enthusiasm and a relentless passion for keeping the fintech startup at the front and continuing to put customer experience and convenience above all else.

Razorpay currently employs 1,300 employees. Last year, the company hired over 550 employees and also created interoperable growth opportunities for its employees. While employees will continue to work remotely for the coming months, of the 650 new positions for new employees, 350 will expand the engineering and product teams. The rest will be in the areas of customer experience, sales and marketing.

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Following rapid business growth in 2020, Razorpay is now creating jobs for over 650 employees to meet SMEs' ever-changing payment and banking needs.

Taking Advantage of Changing Trends – Razorpay Is Setting an Example

In 2020, when digital shopping and online browsing of stores became commonplace, many conventional companies were afraid of losing their entire business. Most businesses struggled with providing essential services to customers through online mode as they shifted to the digital way for the first time. These obstacles primarily included billing, invoicing, checkouts, etc.

And Razorpay came to the rescue of millions of such businesses as it provided digital access to businesses across the country for payment gateways and checkout systems. The company witnessed a 54% growth in its digital transaction volume. Razorpay did not only cater to SMEs and SMBs, but in the last six months, it has also gained the payments contracts for mega-businesses such as Facebook, Ola, Zomato and Swiggy.

It is expected that the growth and expansion trajectory of this fintech unicorn is set to go on a higher course because most businesses are set to go online, sooner or later. And when they do, Razorpay will be there to ease their payments and transactions.

The post Razorpay Plans for Expansion in 2021 appeared first on Dutch Uncles.

Which Unicorns Are To Hire In 2021?

Aakash Sharma — Mon, 15 Feb 2021 06:30:07 +0000

New startups which touched the benchmark of becoming unicorns in 2020 are looking to boost their workforce, primarily on the fronts of products, technology, engineering, sales, business and data science activities in 2021. Of the eleven unicorn startups minted in the last year, six have confirmed their hiring plans for 2021.

Depending on the department and location, these jobs’ work packages are likely to range from Rs. 15 lakh to Rs. 60 lakh per year. Interestingly, the senior management work package will reportedly be in the vicinity of Rs. 1 crore and above.

Who Are These New Indian Unicorns?

The new startup unicorns – Pine Labs, Zenoti, Postman, Razorpay, Cars24 and Glance – are expanding their teams by 10-100%, or up to 2,000 to 2,500 employees, to drive market expansion and invest in product development.

Razorpay

According to Razorpay‘s vice president for human operations Anuradha Bharat, the fintech unicorn will have about 500 employees in coming months. Most of the recruitments will involve engineers and product groups to enhance new solutions. The company also aims to develop new payment and banking solutions for traders in SMEs.

Zenoti

Software-product company and unicorn Zenotti is looking to recruit more than 400 new hires. Most of the roles will be in India with expansions in the US, England, and Australia. The company currently employs 550 employees.

Pine Labs

Fintech and digital payments unicorn PineLabs aims to hire 300 sales and technical employees in the January-March financial quarter. The company will strengthen its digital payment services in India, Malaysia and the United Arab Emirates, and boost its already set presence in Southeast Asia.

Postman

Postman, the software startup, is the latest to join India’s unicorn club and is trying to double its teams and appoint product, engineering, and design leaders. It has 464 employees currently.

Glance

Glance, the unicorn club’s newest addition, offers personalized content powered by artificial intelligence in many languages. The company reached a $1 billion valuation in December 2020 and is looking to increase its human capital by 30-40%. The company currently has 400 employees.

CARS24

CARS24, the online car trading platform, is looking to increase its workforce in a range of 10% to 20%. The company currently employs more than 3,000 people and is searching for people to join its technology, product, information science, business, retail and sales teams.

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With recovery from COVID-19, more and more unicorns will plan to expand business operations, subsequently hiring more people for their workforce.

Other Unicorns Which Might Hire

While other unicorns minted in 2020, including Zerodha, Nykaa, FirstCry, Unacademy and Daily Hunt, have not come out with notifications about increasing their workforce, they are expected to hire new people too.

Industry experts have projected that Daily Hunt certainly has a plan for growing the workforce, if not just a commitment, as it is one of 30 companies funded by the Google’s Digitization India Fund.

Nykaa, a trusted online lifestyle and beauty marketplace, plans to create a $3 billion IPO this year. Unacademy, the edtech platform, engaged in five acquisitions and developments in 2020. Moreover, edtech has become a lucrative emerging industry, attracting $4.9 billion last year in investments last year.

As the COVID-19 pandemic recedes, the economic recovery in India is bound to happen. With that recovery, more and more unicorns will plan to expand business operations, subsequently hiring more people for their workforce. Anyway, keep watching this space for more hiring information by India’s top companies.

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