Reimagining Talent Practices: Recruiting To Retain

Category: Business

Talented people are vital to our continued success, and we continuously invest in our associates, giving them the tools and training to succeed. – Indra Nooyi

Businesses are rapidly aspiring to reimagine talent practices for enhancing the skill quotient of their employees in the digital workspace. Hence there is a need to revisit the conventional practices and build an effective talent management strategy for enhanced business outcomes and customer experience.

Let’s look at some of the new age practices that would create a paradigm shift in the way’s businesses build their core competencies.

Robust profiling of employee’s skills sets and talents would help in creating a valuable repertoire of information that would help in understanding the employee’s career aspirations, onboarding and role fitment.

Transparency in the availability of opportunities within the organization would create a dynamic environment for the employees to grow both horizontally and vertically. Internal job watches, trending jobs etc would help in breaking the silos and building an inclusive talent management system within the organization.

Businesses need to look at generating fresh ideas and unlock the hidden potential of their employees for improving their business processes by simplifying their workflows that would result in better efficiency and saving costs. This can be achieved by having regular Hackathons, crowdsourcing sessions and setting up of work groups that focus on critical themes covering quality, cost, people and customer. Reward and recognition can be institutionalized for enhanced collaboration and active participation.

In addition to, on the job training, businesses need to have different channels for employee engagement. These would include podcasts, webinars, zoom meetings that would result in connecting with employees and leverage their talents. Technical, Soft skill training and assessments need to be provided to enhance the digital maturity of the staff that would help them cope up with the dynamic demands of the future.

An effective framework needs to be built for measuring the talent development plan with the help of data analytics, business metrics and dashboards. This would help in measuring the key indicators covering the learning curve, skills learnt, productivity and voice of customers. Key learnings from these indices need to be reviewed at regular intervals for measuring the effectiveness of the talent management strategy and an action plan needs to be agreed upon with all stakeholders for follow up and delivery.

Conclusion

We at Newlineinfo, have an engaged team that caters to the dynamic requirements of our clientele. We consistently upgrade our core competency to remain competitive through rigorous talent management practices that deliver value to all our stakeholders.

Investing In Start-Ups: The Rewards and Risks

Category: Business

Entrepreneurship is not a theory, it is an experiment.
– Amit Kalantri

“Entrepreneurship is not a theory, it is an experiment.” – Amit Kalantri

Global economy is changing rapidly, and the burgeoning start-ups need investment to turn their ideas into sustainable business models. Investing in the start- ups can be a game changer and a mutually rewarding experience in the evolving financial spectrum.

Investing in start-ups comes with a wide range of benefits that are tangible and businesses have an array of investment opportunities to choose from.

Investments made in start-ups can provide diversification of portfolio and informed asset allocation that can help in managing the investment strategy based on risk appetite. Sectoral strategy in the field of technology, healthcare, consumer durables, financial services need investments for their business development and growth plan. Start-ups provide significant investment options for companies for leveraging on their expertise and gaining financial momentum.

The companies can put their industry experience and insights to effective use by investing in start-ups which would create more jobs resulting in financial growth and inclusion.

Investing in start-ups can also lead to innovation through integrating with frontline technologies. This would help unlock their entrepreneurial potential and achieve competitive advantage.

Companies can also support in the alleviation of social and environmental issues and can play a key role in combating them through impact investing. Combination of business acumen and social responsibility can inspire change and can create a positive impact in the society.

Established companies tend to have high administrative expenses and rigidity in their operating style. Investing in start-ups can be more cost effective that would result in enhanced efficiency through flexible modus operandi.

No start up business is free from risk. These could include risks associated with the market, technology, operations and funding. Start-ups need to make a qualitative assessment of the market trend in which they operate and need to have a backup plan for absorbing any potential impact due to market movements, technological or financial changes. Hence a robust risk management strategy conjoined with calibrated risk mitigation plan would result in effective management of Startup businesses.

Conclusion

Newlineinfo Corp lookout for fresh ideas that can be turned into sustainable business models through appropriate investment strategies backed by wealth of industry experience and sharp insights on business requirements for delivering superior value propositions.

How RPA benefits your business growth

Category: Business, IT staffing and consulting

“The relationship between technology and people has to change in the future for the better, and I think RPA is one of the great tools to enable that change”. – Leslie Willcocks

Robotic Process Automation has become a new normal in the ways business carry out their operations and many organizations around the world have started embedding RPA tools and techniques to transform their operations due to its far-reaching benefits.

RPA works on a set of predefined rules and it’s used structured and unstructured data to handle repetitive tasks that were erstwhile carried out by humans. It frees up the time and space for the digital workforce and has enabled them to focus on delivering value-added services to their customers.

Key businesses where RPA is trending and is set to make sweeping transformations are covered below.

Finance: RPA uses technology like UIPATH and Blue Prism to automate repeat functions like preparation of customer invoices, managing and reconciling vendor payments, account payable processes with limited human supervision. This will result in a reduction of errors, end to end cycle time, adherence to the standard operating model, and enhanced customer experience.

HR: RPA offers tangible solutions in the field of HR and can transform the way organizations, onboard employees. The employee hiring and onboard process involves a set of tasks and undergoes multiple iterative rounds of email exchanges between the hirer and the candidate. Implementation of RPA will transform this process by reducing the onboarding time and manual errors associated with this process resulting in a seamless onboarding experience with minimal lead time. HR functions will also reap the benefits of RPA by extending their capabilities in other HR activities like training, employee engagement, etc.

IT: IT service sector is entrusted in handling critical business activities and any disruption in its activities will result in huge financial loss impacting all stakeholders. RPA will play a significant role in mitigating this risk by ensuring continuity of business through scheduled maintenance of critical infrastructures like server reboot, server configuration resulting in reduced downtime and system outage. RPA will also transform the ways of other IT enabled services like creation of email ID’s, management of security credentials and data backup and archival are handled manually, through automation and standardization.

Insurance: Insurance space is growing rapidly and a lot of its operational activities are still manual which makes it a natural prospect for automation. Repetitive processes like policy servicing, cancellation, and claims management give tremendous automation opportunities with the help of RPA resulting in reducing operational risks and faster TAT. This will also result in providing a robust audit trail and regulatory compliance. RPA will also help in providing scalable solutions to meet the dynamic demands of its clientele.

In future businesses will need to adapt themselves to market dynamics and keep pace with the technological changes like RPA which would enable them to re-invent their core competencies and restructure their modus operandi. This would fit them out with the competitive edge needed to meet the growing demands of their customers resulting in enhanced profitability.

Newlineinfo Corp would look at various options in leveraging RPA techniques and deploying them in its modus operandi in a bid to gain a competitive edge.

The Role of AI: Shaping the leaders of tomorrow

Category: Business

“In 50 years, this 18-month period being we’re in now will be seen as being crucial for the future of the AI community. It’s when the AI community finally woke up and took itself seriously and thought about what to do to make the future better”. – STUART RUSSELL

In the new digital era powered by Artificial intelligence and Machine learning, businesses face a fundamentally different leadership challenge. Leaders will need to create new organizational narratives about the nature of work, the role of people and machines in the evolving organizational landscape.

AI helps business leaders to make decisions based on data crunching and helps in predictive modeling through automating business processes, reduce cost through data analytics, and engaging with clients and employees through chatbots, intelligent agents, and Machine learning.

How AI can change the landscape of future leadership and decision making is calibrated below.

Resource Management: The objective of resource management is to manage resources to add maximum value for the clients and stakeholders. AI can be used to build data-driven decisions to analyze and implement changes to the management of policies including but not limited to recruitment, talent management, performance management. For example, AI could use data analytics to ensure a fair recruitment process free from any unconscious bias.

Machine learning and Coaching: There has been a significant advancement in the field of machine learning, a subset of AI. Along with enhancing machine skills, an increasing amount of data is being collected and information on human behavior is being monitored. AI will help in developing new ways of training the digital workforce by integrating machine learning with human skills. This will enable leaders to upskill their employees in cutting edges techniques.

Acquiring New skills and breaking away from the past: AI is transforming how decision-makers do their jobs and the new age leaders need to become receptive to this change that is making waves at the corporate corridors with astounding alacrity. This means letting go of outdated ideas, preconceived notions, and past experiences. As AI increases in scale and drives further change, businesses that embrace training and upskilling employees with new skills will reap the rewards.

Become AI wise and Decision making: AI wise leaders should facilitate innovation, collaborate between human and AI, transforming operations, adapt to the dynamic market place by keeping pace with the evolving technologies. AI will help business honchos in decision-making through data modeling and predictive analysis.

Artificial intelligence will impact the ways the leaders manage their businesses in the future. The conventional leadership methods are giving way to new opportunities in the business world. The Newlineinfo Corp has pioneered the consumption of AI in its operations and is set to make an indelible mark in the future.

Coronavirus: Impact on the IT Industry

Category: Business

The COVID 19 Pandemic has wreaked havoc on the global economy and has impacted all critical business activities like manufacturing, health care, supply chain, logistics, IT-enabled services, and the list goes on. Big businesses are all thinking about the new ways of working by deepening customer connect, cutting cost and leveraging on serendipity delivered by this pandemic ” Work from Home “. Now let’s spare some thought for the small business segment which plays an integral part in contributing towards the growth and development of our economy.

In the current scenario, only a great little has been done to revive the sentiments of small business and it’s high time that this segment gets the help and support that it richly deserves. Some of the key measures by which the lost confidence of small businesses can be restored are Extension of credit, delaying of loan repayments, relaxing tax norms, Government intervention through subsidy, and better liquidity. Also, the small business segment needs to do some soul searching and find ways to remain lean that will help them keep pace with the changing dynamics of the economy. Small businesses need to renegotiate their existing contracts with their suppliers to mitigate the risk of non-performance in their underlying deals. The existing revenue models can be reviewed and the factors that contribute to the spike in costs can be optimized for better profits and bottom line. An end to end review of the value chain can be reassessed for identification and elimination of non-value-added activities. Steps that are manual can be automated for enhanced service delivery and better turnaround time. Small businesses can anticipate and understand customer demand to avoid overstocking of inventory. Mobilize and cross skill its human resources to meet the dynamic demands of its clientele. Small businesses can position themselves as a one-stop-shop service provider by carving a niche for them in the dynamic market place. Regular customer feedback through digital surveys can help to reinvent their business models for upgrading their service standards from time to time. They can engage actively with their banks/financial institutions to extend their credit facilities that would help in planning their Cash Flows effectively.

In the current crisis, small businesses need to work on their core capabilities and leverage on their expertise to deliver quality output that would enable them to grow and mature into long term sustainable business models.

5 ‘Marvel’lous Comeback Tips for Startups

Category: Business

Marvel is one of the most iconic brands in the mid -1990s. Marvel is well known for its comics and superheroes. Amidst the struggling comic book market, the company took financial risks to survive but eventually declared bankruptcy.

Marvel made the difficult decision to sell off the movie rights of Spider-Man, X-Men and the Fantastic Four. With the prominent characters out of its hands, it seemed the company was destined to die. So Marvel shifted their focus on movies instead of comics and worked towards adjusting its strategy. It assembled its team: Captain America, Iron Man, the Hulk and equipped with a different approach and strategy, it initiated a comeback.

The plan proved to be a success. Marvel returned better and stronger than ever. In fact, its newest movie, Avengers: Age of Ultron had the second-highest domestic opening of all time.

It’s a superhero success story, and one that’s just as exciting as any that Marvel’s team could have written. Get inspired by Marvel’s comeback and make the most of adversity to succeed.

Adversity – The Stepping Stone

Adversity in business may ‘knock you to the ground.’ Realize that even the most successful of the business ventures were possible only after various trial and error experiments.

Dream Team – The Pillars

Start building your team of supporters of friends, family and business associates. Depend on them for advice and support to make a comeback in your business. You’re going to need them, so start assembling your dream team.

Negativity – The Destroyer

Negativity comes in all forms, be aware of self-defeating thoughts and overcome doubt and fear with determination to make a successful comeback.

Setbacks – The Opportunities

Setbacks are often the opportunities in that are presented in the form of raw materials. It requires determination and hard work to transform these opportunities to make success. Start by re-evaluating your goals, and then develop a solid plan to reach them.

Focus – The Problem Solver

Focus on the solution rather than the problem to work towards success. Re-evaluate the situation to reach the solution. New opportunities might open up
For more information, visit our website Newlineinfo, or contact us at 301.760.7366.

From Envision to Implementation; Aspects of Business Every Entrepreneur Should know

Category: Business

Entrepreneurs breathe life into new ideas, whether an extraordinary product or innovative service. Yet, many do not succeed in bringing these ideas to the mass consumer. The primary reason, is failure to motivate the right investors necessary to evolve those ideas into endeavors. Successful businesses derive from the right presentation of these products and services, in a fashion that will motivate investors to share in their vision. That motivation can only be achieved through the proper marketing of one’s business to the right people, having a plan of action in place to take an idea to the next level. But what type of strategy is required to achieve this goal? What tools must the successful entrepreneur possess in order to implement their strategy? It is not the idea itself that will bring the right investors to your business. The key lies in how that idea is presented.

Whether the idea is in its infancy, or an established business looking for the final piece to solidify its success, generation of a commanding marketing and branding strategy will assist in the primary goal of attracting investors. There are several vital aspects to this strategy that must be in place and effectively managed in order to achieve business goals:

  • Branding- set your company, and product, apart from competitors. Send a clear message to investors and create memorable visualization of your product or service.
  • Marketing Strategy- powerful presentation of your idea through a variety of tools, including visuals.
  • Product presentation- utilizing high quality methods for the exhibition of new products in a manner that will motivate investors.

The result will be, landing the right investors to take an idea to new levels and bring a product or service to the industry’s consumer.

Entrepreneurs that trust these strategies into the hands of those who know the most effective methods for presentation, find that they achieve this goal with greater proficiency. Newlineinfo specializes in creating this strategy, utilizing the latest technologies and tools when assisting entrepreneurs in achieving the necessary investors. The first plan of action for your businesses will be the creation of an effective brand and marketing strategy. This is done through assessment of ideas and the latest in effective techniques. Once this has been achieved successfully, such tools as UI/UX user interfaces, graphics and web design services as well as high quality visuals will be applied in a manner that will attract the desirable investors to the business. In addition, the management of such tools as website design, including management of content and search engine optimization are essential for ongoing success. Newlineinfo continues to assure, through research and diligence, that entrepreneurs are receiving only the most up-to-date technologies for their product. Engaging the expertise of Newlineinfo will assist your business in the compelling presentation of a product or service, in a fashion that achieves the ultimate goal of motivating investors, so that you may continue to grow your idea with gusto.

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