HR outsourcing refers to an agreement between an employer and an external party provider. In such a relationship, the employer transfers the management and responsibility for certain HR functions to the external provider. There are various types of HR outsourcing options available to employers in the market. The options can be specific such as outsourcing one particular aspect of one HR function like applicant tracking for affirmative action purposes, or can be broad as outsourcing the complete human resource department.
There are various terms and types of arrangements prevalent in this process of HR outsourcing which is outlined below-
This term refers to a consolidation of business functions within an enterprise to a highly skilled internal department or group. Under the shared-services model, the administrative functions can be handled in-house or outsourced to human resource outsourcing firms. When the services offered by the shared services group are combined into a central operation, they are often known as shared-services centers. Broadly defined, the shared services model is marked by the consolidation of administration or support functions for various departments.
2. Accounts payable and receivable
4. Travel expenses
5. Pension administration
6. Health benefits enrolment
Technological advances and increasingly sophisticated use of Internet communications worldwide have played a vital role in the development and spread of shared-services arrangements in recent years.
Employers take full advantage of flexible options that enable them to turn a fixed expense into a more manageable variable expense—a flexibility that allows the organization to adapt to the highs and lows of a fluctuating marketplace. HR professionals must know about the vendor’s performance commitments and have specific and clear service levels and particular enforcement methods.
Because service levels need to develop and improve over the life of the contract, HR managers are required to document the services existing when their contract becomes effective to make sure that the vendor has accountability.
Administrative responsibilities and non-key function activities can tax any company, but for small businesses mainly, managing human resources can be a tedious and heavy task. When you operate a small company with limited resources and time, the last thing on your list would be diverting your attention from the core business activities, which is your bread and butter.
Outsourcing human resource activities can bring down your administrative workload and free up your time so that you can pay more focus on your crucial function business activities. The manager responsible for employing staff needs to know what legal obligations must be fulfilled. It should be considered even before offering a job. Once the job is offered, the person would require knowledge on administering a payroll process of auto-enrolment of pensions.
HR and payroll outsourcing are common in the workplace due to the complexities of the task at hand. Our HR system assures small business support package provides you with the knowledge you are compliant with employment law. This includes the provision of documents, templates, and forms, along with direct guidance from Concators!
The bucket of tasks that consume your time and reduce your efficiency can be offloaded in a very surprising way. An HR outsourcing firm can manage a whole range of human resources activities and functions that a small business might otherwise outsource to multiple employees- these functions include payroll processing, benefit plan management, training, administration to recruiting, and more.
When you take on board one provider to take responsibility for a range of HR functions, you will reduce time spent on administration and spend less time managing vendor relationships. However, it is crucial to find human resources outsourcing companies that will work with you to provide simple to use and employee-friendly services. Since efficiently managing human resources is essential for your company’s success, it is vital to find a suitable service provider who can offer the right mix of services.
Whether you want a bundled package or you prefer to pick and choose the services you need, we will review the options available to you and are here to guide you through the process. The marketplace is a crowded environment with many companies from which you can choose. Concators have researched and connected with some of the best HR service providers for small-to-medium-sized customers.
Outsourcing HR services include making sure that the people hired are the most appropriate people for a particular role. They ensure that the staff has the necessary skills, knowledge, and behavior for the company. This is a vital element in running a successful business. It should be kept in mind that the level of skills and qualifications required for a role is positively related to the time and cost the process requires. This type of HR service for small companies will come in extremely useful when facing the hiring process.
Recruiting staff needs a significant investment of time and money. Once employees join the team, they need to use their talent to the optimal level, grow and develop until they feel ready and best equipped and qualified to perform their duties. Training is often considered the “soft option” in terms of budget, and external training is often used as the preferred method. But it is expensive and is not 100% successful in meeting the demands of an individual business.
Once the investments are made in the human resource, the return on investment is realized by getting tasks done and attaining the most from staff members. Appropriate reward and development schemes are made to ensure that the workforce is motivated to work and stay. By outsourcing your HR services and getting this HR advice for small businesses, you can stay assured that these schemes are well taken care of.
One hindrance for a small business is when a staff member is absent for a significant period due to illness. How does the law guide? Is the illness physical, mental or financial? What steps should the business take to guard its interests but be just and fair to the employee, both legally and morally? Outsourcing your HR needs to CONCAT will ensure that you will save your time from such concerns.
When companies consolidate various entities under one company umbrella, redundancy is visible. In a shared services model, most companies will make certain changes to overcome this problem. This will result in creating higher levels of efficiency and cut down on cost.
An HR shared services model allows businesses to pay less focus on non-key areas such as human resource management, talent acquisition, and retention as they are outsourced. All such processes enable the company to build a better business structure and increase positive business outcomes, which is important for its overall growth strategy.
Consistency is a positive factor related to the growth of the business as it allows for processes to be undertaken in the same way each time. This is crucial, especially when taking into the importance of compliance.
HR shared service strategy enables companies to avail faster service. In other words, employee requests are met more effectively and efficiently. This type of model leads to employees having positive interactions with HR. Promoting positive interactions between employees and HR creates a better employee experience in the organization.
A policy refers to a guide for repetitive action in key areas of business. It is a statement or a strategy of commonly accepted understanding for decision-making criteria. Policies are set up to achieve benefits from the various business processes. Every company needs policies to ensure consistency in action and equity in its relationship with employees. Organizations providing HR shared services formulate policies for their clients to efficiently and effectively achieve organizational goals.
An SOP is a process specific to operations that describes the activities necessary for complete tasks by industry regulations, provincial laws, or even just how a company wishes to set up standards for running the business. Under the HR shared service approach, the company gets relaxation from the time and effort required to set up SOPs and get to enjoy the final fruit. This way, the management team can pay more attention to the key areas of the company.
Payroll administration refers to the process of keeping records of the working hours of the company’s employees. It involves putting effort into keeping an elaborated record of employees’ cash flow. In big companies, the process becomes more cumbersome and hectic. By using the HR shared service strategy and Human resource policies, companies can save on the time and effort required for such a tedious task and instead devote this saved time and effort to critical functional areas.
Statutory compliance in HR refers to the legal framework within which an organization must operate while dealing with its employees. A lot of the company’s effort and money goes into ensuring compliance with these laws, which could deal with a range of issues from the payment of minimum wages to maternity benefits or professional taxes. Therefore, working with statutory compliance companies should be well-versed with the various labor laws and regulations in their country. HRSS model drives efficiency and reduces cost in the statutory reporting process through centralization and standardization, especially by overcoming common challenges faced by all companies in the same industry.
Employee engagement refers to a workplace approach that results in the right conditions for all company members. So that the employees contribute their best each day, stay committed and loyal to their organization’s goals and values, and are motivated to contribute to long-term success, with an enhanced sense of their well-being. An employee evaluation is the process of assessment and review of an employee’s job performance.
Most companies have an employee evaluation system wherein employees are calculated and evaluated regularly. Such tasks require an intense amount of time, effort, and cost, which prevents a company from paying more attention to the key areas. The HR shared services strategy eliminates such hindrances for smooth and efficient functioning.
Succession planning is a regular process that identifies important competencies then works to assess, develop, and retain a talent pool of employees to ensure a continuity of leadership for all critical positions. Succession planning refers to a specific strategy, which dictates the particular steps to be followed to achieve the mission, goals, and initiatives identified in workforce planning.
It is a plan that managers can follow, implement and customize to meet the needs of their organization, division, or department. Exit Management a.k.a employee offboarding, refers to a process of managing the full and final settlement of employees when they exit from an organization. When an employee is in the exit phase from a company due to various reasons such as resigning, retiring, or being terminated from work, the required paperwork and formalities associated with employee exit need to go through a systematic process.
There are various exit formalities such as exit interviews, clearance from various departments, replacement of the departing employee, and full and final settlement of employee dues. The HR department has a lot on the plate during employee offboarding. By opting for an HR shared services model, a company ensures smooth functioning and efficient management of the human resource in the transition phase.
Outsourcing HR requirements is going to be a more cost-effective and flexible option for a small business.
• Concat will give their input for more advanced HR requirements, ensuring the business gets the highest standard of service.
• It takes the pressure off the business owner and senior managers. This allows them to focus their attention and resources on the matters of running the business but always be in touch with the HR model. Human resources consulting services for small businesses ensure that the management is guided in the right direction.
• Concat works flexibly and can tailor our offer to suit the business and budgetary needs. Get your suitable HR solution with our HR Develop Small Business Support Package.
• There is huge value in having HR management consisting of experts who are ahead of the trends. Concat aims to provide the best possible service. After all, we aim to retain the business as a client.
A small business must always move fast, stay a step ahead in the market and innovate, all whilst being on a tight budget.
Outsourced human resources for small businesses can ensure that the people factor is inefficient and responsible hands and is being handled lawfully. This will remove hindrances from the HR functions and increase efficiency for the business.
CONCAT acts as an HR outsourcing company for small businesses. We offer various HR services for small businesses, including payroll, benefits, recruiting, taxes and training. More uniquely, CONCAT offers a Virtual Chief Human Resource Officer as-well-as an onsite assistance program that puts HR professionals in the office when customers need more help. Most HR outsourcing companies only offer services like employee handbooks, schedules, brochures, and guidelines.
CONCAT will create a robust set of guidelines customized to meet the needs of each client. Our website also offers significant educational resources on a wide range of HR topics. For very small companies, we are well able and equipped to handle the entire HR process. We will work with customers to develop a strategy and strengthen areas where there are weaknesses. We offer services in all areas of HR administration and human resources consulting.
Economists have long argued that India’s outdated and old fashioned labour laws need change. It’s a known fact that the developed economies of world have been flexible in labor laws and provide equanimity based platform to employers and employees to help sustain business. As per world bank report – with more flexible laws, India could approximately add “2.8 million more good quality formal sector jobs in next on an annual basis”, if the flexibility and effective implementation is ensured by employers”.
The country today is witnessing Change and reforms in almost all areas of business. Ease of business as well as digitisation are needed to take India inch by inch toward $5 trillion economy. People are most important constituents of this anticipated growth and lot of changes were and are required in form of labour reforms both from employees as well employer’s side.
The Ministry of Labour & Employment has discussed and finalised rules under the four labour codes in order to make the way for making reforms a reality, the four broad codes are- code on wages, industrial relations, social security and occupational safety, health & working conditions which aim to consolidate 44 central labour laws.
The ministry has already completed the process of discussion and consultation for drafting rules on the four codes and firmed up those for notification. The Code on Wages has been passed by Parliament in 2019 while the other three codes got clearance from both the Houses in 2020. The ministry plans to implement all four codes in one go. Since labour is a concurrent subject, specific set of rules and regulations would also be framed by the state governments under the four codes. The states are also in the middle of the process of notifying draft rules and holding consultations to firm up rules which are in need for implementation.
With an aim to reform the elaborated labour laws and to facilitate the ease of doing business in India, the Government of India had decided to consolidate various labour laws into four labour codes, namely,
The Code on Wages was passed by the Parliament and received the President’s assent in 2019. The draft rules have been formed and circulated by the Ministry of Labour and Employment for feedbacks. The Code on Wages shines light on wages and bonus and aspects relating to four existing central labour laws- Payment of Wages Act 1936, Minimum Wages Act 1948, Act of Payment of Bonus 1965 and Equal Remuneration Act 1976. The remaining labour codes namely, the SS Code, the OSH Code and the IR Code were passed by the Parliament in September 2020 and thereafter received the President’s assent.
The IR Code aims to streamline the laws regulating industrial disputes and trade unions in India. Taking into consideration the benefit of the employers, the IR Code has introduced various aspects such as increasing the threshold of workers to three hundred for obtaining the consent of the government in case of lay off, retrenchment or closure of the establishment, notice of change not required to be given subject to the conditions stipulated in the IR Code, increasing the wage threshold to INR 18,000 for exclusion from the definition of worker, etc.
The IR Code also introduces the concept of deemed certification of standing orders, similar to OSH Code. Although the IR Code aims to simplify the labour legislations, a wide extent of aspects under the IR Code are dealt through delegated legislations and a complete picture would be visible once the Rules are framed under the IR Code and the other labour codes.
The IR Code consolidates three labour laws relating to industrial relations, namely, the Trade Unions Act, 1926, the Industrial Employment (Standing Orders) Act, 1946 and the Industrial Disputes Act, 1947.
The SSC aims to provide better social security benefits for the worker class in the unorganised sector and gig workers such as provident fund, insurance and gratuity to workers. It improves the reach of the Employees’ State Insurance Corporation and the Employees’ Provident Fund Organization (which regulate benefits such as provident fund, pension, insurance etc.). The Social Security Code further stipulates gratuity benefit for fixed term employees without any condition for minimum service period as envisaged under the current regime. The SSC consolidated nine labour laws relating to social security, namely, Employees’ Compensation Act 1923, Employees’ State Insurance Act 1948, Employees’ Provident Funds and Miscellaneous Provisions Act 1952, Employment Exchanges Act 1959, Maternity Benefit Act 1961, Payment of Gratuity Act 1972, Cine-Workers Welfare Fund Act 1981, Building and Other Construction Workers’ Welfare Cess Act 1996 and Unorganised Workers Social Security Act 2008.
The OSH Code attempts to regulate the occupational safety, health and working conditions of workers employed in various organisations. The OSH Code also aims to widen its applicability on different types of workers such as audio-visual workers, inter-state migrants or sales promotion employees. It also aims to promote gender equality by allowing women workers to work at night subject to obtaining their consent.
The OSH Code also introduces the concept of deemed registration of establishments to circumvent the prolonged delays in administrative processes and provides that if an establishment is registered under any concerned law, it is to be registered under the OSH Code.
The OSH Code subsumes thirteen labour laws relating to safety, health and working conditions, namely, Factories Act 1948, Plantations Labour Act 1951, Mines Act 1952, Working Journalists and Other Newspaper Employees (Conditions of Service) and Miscellaneous Provisions Act 1955, Working Journalists (Fixation of Rates of Wages) Act 1958, Motor Transport Workers Act 1961, Beedi and Cigar Workers (Conditions of Employment) Act 1966, Contract Labour (Regulation and Abolition) Act 1970, Sales Promotion Employees (Conditions of Service) Act 1976, Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act 1979, Cine-Workers and Cinema Theatre Workers (Regulation of Employment) Act 1981, Dock Workers (Safety, Health and Welfare) Act 1986 and Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act 1996.
The Government of India is currently in process of formulating the final Rules under these Codes for their effective implementation. After the Rules have been drafted and finalized, the above Codes along with the Rules shall come into force on a certain date as appointed by the Government by notification in the Official Gazette.
We hope to see the reforms become realty in next 2-4 months and hope that India would grow holistically with lot of job creation and prosperity for employers and entrepreneurs.
The government of India and various State Governments have been taking various measures to promote ease of doing business in India. Proposed Labour Law Codes by Central Government, if implemented in an appropriate manner can have a far-reaching impact towards reducing the compliance burden on corporates without comprising the welfare of the workforce.
The government of India has proposed to implement the following four Labour Codes on a Pan India basis to consolidate numerous Central and State Labour Law legislations:
With this note, LexComply.com wishes to initiate a Knowledge Series to share insight on the compliances under proposed Labour Law Codes. In this note, we will plan to give insight on the applicability of the Code of Wages and definitions thereunder.
The Code of Wages was passed in the year 2019. This Code has been enacted to regulate the terms of payment of wages to the employees. This Code consolidates the following Laws:
The Code of Wages will be extended to the Whole of India covering all type of workforce i.e. skilled, semi-skilled or unskilled, manual, operational, supervisory, managerial, administrative, technical or clerical work in a private sector or public sector or government employee, however, will not include the following :
The Code of Wages will be applicable on all type of establishments wherein any industry, trade, business, manufacturing or occupation is being carried on and it also includes establishments of the Government, whereas, The Code of Wages also provide for exemptions in different chapters for different category of establishments.
Public sector undertakings, provided if in any accounting year an establishment in public sector sells any goods produced or manufactured by it or renders any services, in competition with an establishment in the private sector, and the income from such sale or services or both, is not less than twenty percent. of the gross income of the establishment in the public sector for that year; and
Establishments provided in Section 41 of the Code.
Whereas in the case of Factories we need to consider the limits of employees provided under the definition of Factories as provided in section clause (m) of section 2 of the Factories Act, 1948 and rules made thereunder by State Governments.
1. Employee: As per Section 2(k) of The Code of Wages an Employee means any person employed in an establishment for wages, for any type of work including skilled, semi-skilled or unskilled, manual, operational, supervisory, managerial, administrative, technical or clerical work in a private sector or public sector or government employee however will not include the following :
Whereas currently as per the Payment of Bonus Act, 1965, there is an additional condition that the Salary of the Employee should not exceed Rs. 21,000 per month. This means that once The Code of Wages becomes effective the provisions pertaining to Bonus will be applicable to every employee irrespective of the salary/wages.
In the above-stated definition, the word “managing agent” as mentioned in the definition of Employer under The Payment of Bonus Rules, has been deleted, and instead word “Contractor” has been added. This will add to more accountability on Contractors in the case of Contract Labour.
2.Workers: As per Section 2 (z) worker” means any person employed in any industry to do any manual, unskilled, skilled, technical, operational, clerical or supervisory work for hire or reward, whether the terms of employment be express or implied, and includes—
But does not include any such person––
Out of the Four Acts which are consolidated in The Code of Wages, the “ worker” has been used only in the Equal Remuneration Act, 1976. Therein the term worker means the workers employed in the establishments on which The Equal Remuneration Act, 1976 is applicable.
3. As per Section 2 (g) of The Code of Wages, “contract labor” means a worker who shall be deemed to be employed in or in connection with the work of an establishment when he is hired in or in connection with such work by or through a contractor, with or without the knowledge of the principal employer and includes inter-State migrant worker but does not include a worker (other than a part-time employee) who ––
In comparison with the meaning of Contract Labour in The Contract labor “(Regulation and Abolition) Act, 1970, the proposed definition provides for the exclusion of permanent/regular employees of contractor from the definition of Contract Labour subject to certain conditions.
4. As per Section 2 (q) of The Code of Wages, “industrial dispute” means,—
Whereas as per Section 2(k) of The Industrial Disputes Act, 1947 “industrial dispute” means any dispute or difference between employers and employers, or between employers and workmen, or between workmen and workmen, which is connected with the employment or non-employment or the terms of employment or with the conditions of labor, of any persons.
5. As per Section 2 (v) of The Code of Wages” same work or work of a similar nature” means work in respect of which the skill, effort, experience, and responsibility required are the same when performed under similar working conditions by employees and the difference if any, between the skill, effort, experience, and responsibility required for employees of any gender, are not of practical importance in relation to the terms and conditions of employment;
The new Definition is almost the same as that under the Equal Remuneration Act, 1976 except that instead of men or women, the new definition covers all genders. This has been introduced to also cover Transgender within the ambit of Labour Laws.
6. Section 2 (y) of the Code of Wages provides for the definition of “ Wages” . Term Wages and Remuneration have been defined in the Minimum Wages Act, 1948, The Payment of Wages Act, 1936, and The Equal Remuneration Act.
1. The New Definitions excludes the following additional heads from the ambit of wages
2. The new definition does not exclude the following from the definition:
3. The New definition also provides for the limit up to which the amount paid under clause (a) to (i) of the definition of “Wages” will not be considered as part of the wages. It states that if the payments made under clauses (a) to (i) exceeds 50% or such other percentage as notified by the Central Government of the total payments made to an employee then such access will be considered as part of the Wages.
4. It also clarifies that this term of Wages will be used for the purpose of provisions pertaining to Equal Remunerations and payment of wages, the payments made under clauses (d), (f), (g), and (h) shall be considered as part of the wages.
Whereas The Central Government has taken a step forward to consolidate the labor laws in the proposed Codes but the key is that the definitions and provisions in the codes should be consistent with each other unlike in the previous laws. In the new article, we will share our insights on the various other key provisions of the Code of Wages provided under different Chapters.
The content of this article by Team LexComply.com is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
At some point in the next year, the focus will turn to the rebuild. How can marketers help their businesses, and society, come back stronger?
as we approach 2021, it’s more profound than any previous year …
from navigating the rest of the pandemic to plotting the rebuild; from planning across a tech oligopoly to responding meaningfully to the need for greater diversity.
Hopes of an effective vaccine are growing, but mass roll-out remains several months away. The pandemic of 2020 is a tragedy.
And if, as behavioral scientists argue, times of change are when we form new habits, then there has arguably never been a better time to identify new consumption opportunities and disrupt established brand relationships.
Responding to recession
Marketers are planning for a tough economic climate. Marketing budgets are expected to be up in 2020, but not always up in 2019. There is pressure on brand investment, agency and vendor fees, and sponsorship. There is a shift towards investment in performance marketing, which in turn accelerates the trend towards digital channels.
Staying effective in the age of e-commerce
The COVID-19 pandemic has accelerated e-commerce growth globally, and most marketers believe this shift is permanent. Responding to this trend is a top priority for 2021. Some are exploring direct-to-consumer options, looking for ways to make it easier for consumers to repeat purchase. This shift in distribution will have a knock-on effect on brand strategy and media investment
Engaging at-home consumers
With restrictions on consumers in many major markets expected to last well into 2021,
the ‘at-home’ lifestyle will remain a driver of change and potentially new opportunities. For brands, this means discovering where and how to become a welcome part of consumers’ at-home lives
Succeeding in the closed web
The third-party cookie is on the verge of obsolescence, as a consequence of
regulatory pressures and the unilateral actions of companies including Apple and
Google. This hand’s even more power to the major ‘walled gardens’ – at the same time
as their share of ad investment surges. With digital advertising dominated by a small
number of media platforms, marketers face the daunting task of managing their activity
across those garden walls
Structuring for volatility
Businesses will continue to feel disruption into 2021, and most are investing in some
form of ‘digital transformation’ as they try to keep up with the market. For some marketers, this will be an opportunity, as they help their businesses navigate a volatile market and ‘build back better’.
Finding the white space in the wellness
Health and wellness will remain center-stage as the rebuild begins. A growing range of
brands is moving into this space, adapting to cater to emerging consumer priorities
around both physical and mental wellbeing. As healthcare becomes more digital, brands
need to consider their offerings to ensure inclusivity and trust.
Conventional wisdom dictates that brands increasing marketing budget during a recession will recover considerably faster in ‘normal’ times, as consumer confidence returns. Reducing a brand’s share of voice below its share of the market, on the other hand, can
undermine its position – and the level of risk is even greater in price-driven, low-interest categories. Fortune does favor the brave. Focus on customer retention over acquisition.
For eg. Rethink craft
Switch from Hi-fi to Lo-fi creative in the recession. Lo-fi work strips everything back. Humility, humanity, and humor reign supreme. In some cases, you can make content that reacts to other people’s content
COVID-19 and the ensuing recession has the potential to reframe the idea of value for buyers. Consumers want products to be delivered quicker than ever, in a way that suits their needs. Marketers are recommended to go ‘back to basics’ and evaluate all elements of their brand proposition, from product offering to price and pack sizes, to find a model that suits the post-pandemic consumer mindset.
CONCAT is a B2B marketplace intending to help business startups, MSMEs to large corporates on critical aspects of the business. Concat is founded by the 3’Cs concept, namely capability, consistency, and cultivation, and the approach revolves around the concept of shared value to the company, the environment, and the community. CONCAT connects service seekers and service providers to have robust and mutually beneficial successful business collaborations.
In boxing, the aggressor is on their front foot, driving the action. Even though boxing is different from many other sports, being on your front foot indicates you are on offense.
The opposite of being on your front foot is, naturally, being on your back foot. To fight from your back foot means you are moving away from your opponent as a way to create space, the strategy of a counter-puncher. There is no such thing as a counter-puncher strategy in sales. Selling requires YOU take initiative.
Technology can be an outstanding asset to help you close more sales, if you know how to use it correctly. It can also be damaging if you don’t.
As a professional or sales person, have you become too dependent on technology to do your selling for you? Your success depends on how well you sell, not how well you play with your toys.
Technology gives people the illusion that they are becoming more connected when, in reality, it’s damaging their social skills.
Liking, sharing and commenting on posts might seem like a sincere way to establish or maintain valuable relationships, but no amount of likes or thumbs-up buttons will replace genuine human interaction.
If you truly want to stand out and differentiate yourself, you need to step away from technology and step into real conversations. Stop typing and texting and start talking!
Businesses look to technology to solve their problems and make operations more efficient, and rightfully so, after all, technology is synonymous with “solution.” Although, just purchasing new technology isn’t enough to automatically see the desired results. New technology must be accompanied by intentional implementation efforts, which includes adapting it to your company’s culture. In other words, working with people.
That’s the irony about digital transformation, it doesn’t work when in and of itself technology is the solution. Technology has to be an enabler and that enabler needs to be aligned with a bigger mission. Companies that lead digital transformation from a more human center actually bring people together in the organization faster and with greater results.
Get Back To What Really Works—A Personal Connection.
Technology will never compensate for a deficiency in your sales and communication skills. Selling is, and always will be, about people and building solid business relationships together.
While your competition is wasting time typing endless emails to prospects trying to close the sale, you should be talking to your prospects and winning the sale.
If you’re ready to stop talking about your sales problems and start taking action to make the right kind of changes, try some of these practices:
You can’t secure a meeting if you only touch them virtually as one of a “cast of thousands.” Want to make someone feel important? Pick up the phone, make an appointment or schedule a video conversation. Face-to-face or phone connections trump virtual connections. The phone is still the most accurate weapon you have to secure a meeting.
While you need a road map and a plan, including practiced phrases, get away from the monotone and grayness of memorized scripts that sound just like every other voicemail or email your prospects receive. Proactive and productive conversations produce results, not word for word scripts.
Stop following the crowd. Just because someone says social media is the quickest way to close sales and grow your business, doesn’t mean it will work for you. Break away from the pack—be yourself. Be willing to stop long enough to assess the best path to take toward your revenue goals.
In my consulting work, I see a lot of professionals spending their days sending email after email, text after text, trying to connect with everyone and their mother on social media. They don’t realize that they are just adding to the clutter of their prospects already bloated and overstuffed inboxes. They’re not willing to step out from behind the cloak of technology and into the messy world of personal relations. Do what we did back in the day—talk to someone face to face. Risk people getting know you.
I’m not saying to drop your devices and your social media communications entirely. These make a great foundation for your company’s general message. Use them as the credibility that backs up what you say face-to-face. Just remember that even the most engaging email campaign is only meant to start a conversation. The real magic happens with that most important of sales ingredients—you. You are the most important tool in your toolbox.
I am all for technology making our businesses better but where do we draw the line?
Go build some real relationships.
Pick up the phone, connect, and have a real conversation. Be that invaluable connection and memorable experience your customers are craving.
The global recruitment industry is a $416 billion industry, with India contributing around $10 billion annually, with a 21% CAGR for permanent hiring (The temporary hiring market could be 5-7 times bigger). Companies want to hire the fast and best talent in this fast-paced environment as delayed recruitment impacts organizations worldwide and affects companies experiencing growth.
Traditional recruitment processes involve hiring in-house recruitment teams, contracting to third party agencies, reaching out to candidates through referral programs, buying database access points through job portals,and also utilizing social media channels like LinkedIn. While spending enormous money and energy, companies are still struggling to hire the right candidate.The reasons could be candidates’ quality, scanning through SPAM, bandwidth issues, fee negotiation and back outs.
Challenging these issues enters the recruitment marketplace for hiring smart talent, enabling employers to crowd-source their recruitment efforts in an open marketplace, facilitating interaction with independent recruiters and recruitment agencies. The job seekers can submit their profiles that are then scrutinized further by the marketplace’s profile matching algorithm and pre-screening team to make hiring faster, easier, and scalable.
The marketplace allows employers to work with reputable independent recruiters, recruitment agencies, and individuals worldwide to find the right candidates for their company. It also gives them a chance to do their marketing to the candidates, independent recruiters and staffing agencies.
These online marketplaces are coming with web interviews and web profiles that allow the company and candidate to be on the same platform, conduct interviews, and fast-paced the selection process.
In the coming times, these global online marketplaces would be on the boom, as companies are already adapting to the work from home concept and, they would prefer to take the interviews online
In the last two decades, one thing that has grown exponentially is‘Data’. During the initial stage, it was Enterprises or Government, which generated the data, so the data produced was at a controllable speed. Every organization was sitting on tons of data, but they were unsure of what to do with it. However, with the introduction of Smartphones and Social Media in the last decade,the need for data has suddenly grown and generated exponentially.Data has becomethe new oil for which enterprises and states have developed a keen interest.
Every enterprise is now focusing not just on structured data but also on unstructured data to generate their business strategy and various models around it. Few organizations are focusing on using this data to offer multiple personalized services to the customers, and few are focusing on drawing the product strategies around it. Due to various use cases, many enterprises are keeping the data forever knowingly or unknowingly.
The poorly stored data for a very long time is always at risk and might go into the exploiter’s hands that could further be misused.
Data exploitation can also be state-sponsored to threaten another nation.
Many countries have realized the associated risk and have either introduced or introducing the Data Protection Law. To control data misuse, the New India Data Protection Law 2019 will go live by early 2021.
The New Data Protection Bill 2019 (“Bill”) provides general guidelines for collection, using, storing and transferring the data. It also categorizes data into three categories, i.e. Data, Personal Identifiable Data (PII) and Sensitive Data. The bill’s final details are not yet out, but it seems to be in line with the GDPR of Europe. It will cover more attributes considering India’s complex demography.
The collection criteria, usage, transfer and retention of the data will depend on the nature of the data collected. Additional restrictions/ compliance’s are to follow where the data of children is involved. It also identifies few exceptions to collect and process the data with consent under certain specific instances, such as state functions, compliance’s with a court order, response to a medical emergency, and recruitment and employment termination.
Though it primarily states to process data in India,it allows sensitive personal data transfer outside India basis explicit consent from the individuals. The storage of the data remains within the Indian territory.
The entities collecting the data are Data Fiduciaries; it is further classified based on the data volume, data sensitivity and turnover of the entity, as Significant Data Fiduciaries, Guardian Data Fiduciaries and Social Media Intermediaries.
There is another category called Data Processors (DP) that are required to implement necessary security guardrail concerning, inter alia, the nature, scope and purpose of processing the personal data and the risks associated with a breach.
In case of any personal data breach, immediate notice to the Data Protection Authority (DPA) is mandatory. The DPA will further determine and communicate the same to the individual if needed. The bill also has strict compliance requirements and heavy penalties, including imprisonment upto three (3) years and fines ranging from INR 5000 a day to INR 15 Crore or 4% of annual turnover.
Following activities, processes are being introduced, regulated or governed in this policy:
Until now, the organizations’ or data collectors’ focus was only on generating and using the data. Now, they have to define the purpose of collecting, using, transferring and retaining the data based on the data collected and consent taken from the individuals. There are additional restrictions/ compliance’s in case of data of children involved.
Though the data processing has been in India itself, organizations can process the data outside India with defined consent and approval process in a few cases. However, the data storage remains within Indian territory.
In specific scenarios, the data process is without consent and categorically documented while taking the exceptions.
The entities collecting the data are Data Fiduciaries; it is further classified based on the data volume, data sensitivity and turnover of the entity, as Significant Data Fiduciaries (SDF), Guardian Data Fiduciaries (GDF) and Social Media Intermediaries.
Data Processors (DP)is another category. DPSis collects the data and processes it on behalf of the DFs. They are required to implement necessary security guardrail concerning, inter alia, the nature, scope and purpose of processing, personal data and the risks associated with a breach remain the same as DFs.
India Personal Data Protection Bill makes it mandatory to implement privacy by the data owner’s design policy to control the data breaches. It makes each enterprise compulsory to include privacy and its related principles as part of internal systems when launching the business/ operations and not as post-facto.
Significant data fiduciaries are required to appoint a DPO to inter alia advice on matters under the Bill;they monitor the data processing activities, ensure compliance and report the breaches, if any. Data Protection Authority (DPA), a new authority similar to IRDA, TRAI, and SEBI, monitors the data breaches and safeguards the individual and the nation’s interest. DPO can also be a focal point to avail cybersecurity policy to protect the interest of the organization in case of any breaches despite following the necessary guardrails.
Many organizations think it is not a big thing considering India’s various lapses on non-compliance penalties and refined execution. The way the Data has become more and more precious, the government does not have any other option than putting stringent monitoring around the data usage.Organizations must start planning their privacy by design policy, data categorization, lifecycle management and data retention policy to build an ecosystem where data breaches are more stringent than a physical theft in the organization.As physical theft would have minimal losses, the massive penalties in data breaches may impact the organization’s balance sheet and affect the brand value.
Hence, taking this law at ease would be disastrous for organizations coming under DF, SDF, GDF, Social Media Intermediaries and DP category.So, start building the necessary steps from now than later, and we are here to help you with this.
Every organization needs some level of data capturing at every stage of the business process, be it small or large. Sometimes output data of one process becomes an input to another. The entry of this data through manual intervention would be prone to human error and bring productivity losses. It drives the need for an integrated system to get the right level of normalized integrated data in a secured environment to make various enterprise processes generate a single source of information to drive accuracy in decision making.
An ERP is a software that manages day-to-day business activities covering both core and non-core operations. A complete ERP not just supports business activities like manufacturing, finance, supply chain, HRMS, procurement, etc. but also helps in planning, budgeting, reporting, predicting the organization’s financial results and create enough data to do the predictive analysis.
ERP systems help in eliminating data duplication and provide data integrity with a single source of truth. There is a myth that it can only help the mid to large organizations; however, it is equally essential for small to mid-size organizations. One needs to understand the importance and accordingly look for the solutions within their budget instead of just using the spreadsheets. ERP is indispensable for any organization irrespective of technology advancement as it only improves the productivity experience based on normalized and accurate data.
Modern ERPs cover their traditional importance and have a digital edge using the cloud, social, mobile, analytics, etc. ERP helps in improving productivity by generating data-heavy reports with a click of the button.
The term ERP was devised in 1990 by Gartner, but its roots go back more than 100 years old.In 1913, engineer Ford Whitman Harris developed the economic order quantity (EOQ) model, a paper-based production scheduling for manufacturing. In 1964, Black and Decker became the first company to adopt a material requirement planning (MRP) solution with a mainframe computer for scheduling production processes.
In 1983, MRP grew to encompass more manufacturing processes, and it was called Manufacturing Resource Planning (MRP II). By 1990, these systems had further expanded beyond inventory control from other operational processes to other back-office functions like accounting and human resources that set a stage for the ERP.
Later, with the introduction and widespread use of the Internet, ERP was further expanded to include other areas of a business, such as a Customer Relationship Management (CRM), Supplier Relationship Management (SRM),Supply Chain Management (SCM), Human Capital Management (HCM), Business Intelligence and E-commerce.
With the introduction of cloud-based ERP, ERP usage has gone beyond mid to large-size organizations to a more affordable solution for all organizations by removing a significant obstacle of capital expenses to bring the most of the cost at the operational expense level.
The design of ERP systems is around a single, defined data structure (schema). It ensures that the enterprise’s information is normalized and determined based on its expected usage and definition. There is an interconnection between the entire system and business processes driven by various workflows, defining its internal functions and approval mechanisms by putting people and process technology together.
For example: consider a company that builds steel by procuring iron ores from multiple mining suppliers.It can use the ERP system to define the entire raw material handling process from identifying the demand, placing an order, receiving the material at plant level using the procure to pay process. Similarly, it can also define entire customer management, order booking, production, invoicing, dispatch, and finally receiving the amount.
A fundamental ERP principle is the central collection of data for wide distribution. Instead of several standalone databases with an endless inventory of disconnected spreadsheets, ERP systems bring everything in order, so all users—from the CEO to analyst—can create, store, and use the same data derived through standard processes.
ERP not only helps employees to do their job more effectively but also breaks barriers between various business units within the organizations. It provides real-time data visibility across the organization resulting in different proactive business decisions and improvements. It automates multiple internal processes and compliance, resulting in better control and reducing regulatory risks to the organizations by enhancing customer service by having a single truth source.
A single source of truth removes the information silos and helps to get fast answers, day-to-day reporting to mission-critical business decisions. It helps in lowering operational costs through streamlined business processes and best practices. It improves efficiency by removing the barriers by providing the right level of data and information to the individual basis his/her role.
It also helps organizations improve their compliance and assist in predicting and preventing risk.
To build a business case for ERP with a positive ROI, one needs to list the benefits of implementing the ERP. It should start with the current business challenges and slow-moving information across the organization and quantify it with the right justification.These challenges would be mitigated by having an integrated ERP system.After fully implementing the new system across your organization, decide on key performance indicators (KPIs) that you can measure.
Implementing an ERP is two edge sword as many times, people start implementing various processes without re-looking at the need and making the entire ERP process wholly customized to the enterprises needs. This customization helps in fast implementation as low change management effort but never allows improvising the techniques and removing the ecosystem’s clutter.It also makes the entire system very custom heavy, resulting in future support issues and upgrades, resulting in the ERP’s lousy name.
One must have a process champion from each department and give them full authority to bring all the processes, reports, forms on the drawing board and discuss the need for the same in a new ERP-driven world. It would help reduce the implementation cycle and make productivity benefits over a while.
An ERP system helps generate structured data for any organization further used for various decision making and analysis. If any organization can analyze the data correctly in a structured way, it would bring a lot of value to the organization in day-to-day and strategic business decisions.
Gone are the days when it was just limited to large organizations, now with time, these systems have become a commodity. If organizations focused on big names like SAP and Oracle, they would find it hard to even think about it due to various constraints.However, now we have many systems with a similar maturity level and budget, so one must look at the need, budget and accordingly opt for it.
Unless any SMB Organizations cannot generate the correct data into information used for decision-making, they can’t become a large organization. To convert your disintegrated, decentralized, disorder data into integrated, centralized data and then convert that data to the right kind of information, ERP is a BIG boost.
Recently, the Harvard Business Review studied 46,000 shoppers to gauge the impact (if any) omni-channel retailing had on their experience. Developing an omnichannel strategy is quite important.
Another study by Business Insider found that shoppers who engaged on multiple channels made purchases more often.
The power of omni-channel experiences can lift sales dramatically. Customers interacting with an omni-channel experience 4% more spent in-store and 10% more online. Companies with omni-channel retail strategies retain an average of 89% of their customers from channel to channel.
Omni-channel retail revolves around your customer and creates a single customer experience across your brand by unifying sales and marketing, which accounts for the spillover between channels. It removes the boundaries between different sales and marketing channels to create a unified, integrated whole. The distinctions between channels are onsite, social, mobile, email, physical, and instant messaging. It disappears as a single view of the customer, and an experience of commerce emerges.
Omni-channel merges the worlds of websites, emails, re-targeted ads, social media marketing, and physical locations to show personalized offers, products, and messages.
We help you in creating omni-channel marketing to:
You can also read the above article for Omni Channel retailing Harvard business review.
At Concators, we also provide employee concierge services at an unbeatable cost.