Citrix Survey Reveals Born Digital Poised To Deliver Substantial Economic Gains – But They’ll Need Some Help

According to the study, young workers can drive an extra $1.9 trillion in corporate profits if given support to adapt to new realities of work

Survey Highlights:

* Born Digital employees in India (76%) prefer to retain a remote or hybrid work model post-pandemic

* Younger workers in India are most focused on career stability and security (94%), opportunities for additional qualifications, training, or re-skilling (93%), and access to quality workplace technology (92%)

* 76% of Born Digital in India believe that employers should offer the opportunity to work a four-day week to promote employee well-being post-pandemic

* Only a fifth of Indian business leaders use instant messaging apps like Slack or WhatsApp for work purposes, compared to almost 90% of Born Digital employees

* A third of Born Digital employees surveyed in India would leave an organization that lacked purpose, compared to over 70% of business leaders

* 86% of Born Digital employees in India believe that the pandemic has shown that their organization needs to invest more in digital technology, compared to 16% of business leaders

Today’s young employees are the engines of the knowledge economy and tomorrow’s business leaders. And according to The Born Digital Effect, the latest research from Citrix Systems, Inc. (NASDAQ:CTXS), they’re primed to deliver an extra $1.9 trillion in corporate profits. But they’ll need some help to pull it off.

Made up of Millennials (born 1981 to 1996) and Generation Z (born after 1997) workers, the Born Digital are the first generation to grow up in an entirely digital world, and now account for most of the global workforce.

“These young employees are different from previous generations in that they have only ever known a tech-driven world of work,” said Donna Kimmel, Executive Vice President and Chief People Officer, Citrix. “To shore up their future business success, companies must understand their values, career aspirations and working styles and invest in their development.”

To help them do this, Citrix, together with Coleman Parkes Research and Oxford Analytica, conducted The Born Digital Effect, a study that combined global opinion research from 1,000 business leaders and 2,000 knowledge workers in 10 countries to understand what the Born Digital want from work, with economic modeling to quantify the impact they can have on business and the larger economy.

A Fundamental Disconnect

And it revealed that when it comes to understanding what engages and motivates younger workers, leaders are out of touch. Among the key findings:

Job stability, upskilling, and quality workplace technology matter most to employees – Faced with an uncertain job environment, younger workers in India are most focused on work factors like career stability and security (94%), opportunities for additional qualifications, training, or re-skilling (93%), and access to quality workplace technology (92%). Leaders, on the other hand, think young workers prioritize a competitive remuneration package and job satisfaction over all other work factors.

Leaders overestimate office appeal – Globally, 90% of Born Digital employees do not want to return to full-time office work post-pandemic, preferring a remote or hybrid model instead. This number is 76% for India, where:

* 48% want to remain working from home most or all of the time. Their leaders voted in stark contrast at 14%

* 11% would like hybrid working with more time in the office

* 17% would like hybrid working with time evenly split between home and the office

* 23% would like to be in the office full time

While they may prefer to work remote, 86% of Born Digital workers in India recognize that social interaction is crucial in a business context, which is significantly higher than the global average (68%).

“As companies move forward in enabling work from anywhere, they will need to provide opportunities for employees to come together both physically in offices and virtually from home to keep them connected, engaged and prepared for the future of work,” Kimmel said.

More than anything, the Born Digital want employers who give them flexibility and choice – Although a five-day week is still a popular working pattern, the Born Digital in India believe that employers should offer the opportunity to work a four-day week (76%) to promote employee well-being post-pandemic. When given a choice, this generation expects to be able to decide when to begin and end their working day (22%), and a few want to work unstructured or output-based hours (4%).

And they want to be given freedom and an environment to grow – When asked to identify the three most important aspects of company culture they look for in choosing an employer, the Indian Born Digital cited:

* Autonomy, or the opportunity to work in a high-trust environment (90%)

* Innovation at its core (90%)

* Priority towards learning and development (90%)

Family and well-being take center stage – A striking 90% of Born Digital in India expect employers to have a better understanding of family commitments, compared to the global average of 74%. Also, 92% of Born Digital workers in India say they would prioritize employee wellbeing as they advance in their career.

Young workers and leaders inhabit different digital worlds – Only 19% of Indian business leaders use instant messaging apps like Slack or WhatsApp for work purposes, compared to 89% of Born Digital employees in India. And only 21% of Indian business leaders like using these apps for work, compared to 92% of Born Digital workers. Interestingly, in India, 90% of Born Digital employees will focus on increasing workspace technology in the future, if they were to take on leadership roles.

Purpose is a privilege, not a priority – Only 34% of Born Digital employees in India would leave an organization that lacked purpose, compared to 72% of Indian business leaders. And only 31% would leave a role if they felt that the culture did not reflect their personality adequately, compared to 64% of business leaders.

Digital technology is the future – Over four-fifth (86%) of Born Digital employees in India believe that the pandemic has shown that their organization needs to invest more in digital technology, while only 16% of business leaders believe this is the case.

As the data makes clear, today’s business leaders are clearly disconnected from what the Born Digital really want from work. And in order to unlock their full potential and the value they can deliver, they need to plug in.

The Future is in Their Hands

“Successfully attracting and retaining the Born Digital will require organizations to invest in the work model and tools to create the flexible, efficient and engaged work environment that this next generation of leaders craves and thrives in,” said Tim Minahan, Executive Vice President of Business Strategy, Citrix. “And there is clear commercial benefit to doing so.”

To quantify these benefits, Citrix worked with economists to build an economic model that assessed the impact of Born Digital employees on companies’ profitability, examining the relationship between the size of a country’s Born Digital population and the profitability of that country’s businesses.

“As the model shows, businesses in countries with above-average Born Digital populations can see an increase in corporate profits equivalent to more than the entire market capitalization of the FTSE 100,” said Minahan.

Countries in the study with relatively well-developed education systems or younger populations compared to their peers – such as the US, China, the UAE, Mexico, the UK and the Netherlands – are benefiting most from the Born Digital dividend as their above-average Born Digital populations are helping to ensure their businesses enjoy greater profitability, now and in the future. For countries like India whose Born Digital population is just 0.4% of the total population, the negative impact on companies’ profits is up to $221 billion.

“The Born Digital are the C-Suite of the future and in 2035, the success or failure of business – and the global economy - will be in their hands,” Minahan said. “To secure it, companies need to cultivate younger workers and adapt their workplaces and working practices to groom them today.”

To gain additional insights into the Born Digital and creating an environment in which they can thrive and deliver the future of business, click here and download a complimentary copy of The Born Digital Effect.

About the Study

Research methodology developed by Man Bites Dog, with support from Citrix. Economic modeling work carried out by consulting firm Oxford Analytica and independent opinion research carried out by research company Coleman Parkes.

Economic modeling: A five-step economic model was built to estimate the association of the Born Digital (defined as highly skilled, digitally savvy employees aged 18-40) population with corporate profitability. The model estimated this association at the firm level across 53 countries, which we subsequently used to highlight implications for France, Germany, the Netherlands, the UK, Mexico, the US, the UAE, China, India and Japan.

Opinion research: In 2020 and 2021 we interviewed 2,000 Born Digital knowledge workers (750 Generation Z and 1,250 Millennials) and 1,000 business leaders working in both large, established corporations and mid-market businesses. Respondents were based in France, Germany, the Netherlands, the UK, Mexico, the US, the UAE, China, India and Japan. The study focused on the following sectors: financial services; healthcare and life sciences; technology; professional services; manufacturing and retail.

About Citrix

Citrix (NASDAQ: CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments.

Vedanta's 200 Beds Covid Field Hospitals' Work Progressing Speedily At Chitradurga And Hubli

* Vedanta is setting up 200 Bed infrastructure including 20 ICU beds and 180 oxygenated beds at Karnataka - COVID field hospital to be equipped with critical care facilities at Chitradurga and Hubli in Dharwad District of Karnataka as extension to recognised & reputed healthcare facilities

As the country battles the second wave of COVID-19 Pandemic, Vedanta- Iron OreKarnataka (IOK) Business is ramping up the support to state Govt. in combating COVID through various community outreach initiatives and contributing towards Medical infrastructure in the state. Recently, Vedanta IOK had pledged to set up two 100 beds state-of-the-art ‘Covid field hospital’ infrastructure in Chitradurga and Hubli Dharwad district each ,to support the state administration and the local community in combating COVID which are in the final stage of completion. The hospitals with critical care facility is being set up as extension to recognised and reputed healthcare facilities at Chitradurga and Hubli, with 100 Beds infrastructure set up each at both the locations. 

Vedanta is setting up two air condition COVID field hospital in Karnataka, which will add up 20 ICU Beds and 180 oxygenated beds infrastructure including both facilities at Chitradurga and Hubli, in order to extend support to state Govt. for creating COVID care facilities and fight against COVID crisis. 

To counter the first wave of COVID-19, Vedanta Sesa Goa Iron ore Business provided relentless support to state/ district administrations and communities around through various community outreach initiatives such as fumigation/ Sanitation drives at public places, distribution of groceries during lockdown phase, distribution of masks, sanitizers, Camera with drone etc.

Artificial Intelligence To Play Role In Nutraceuticals Industry, India To Be Leading Player: Nutrify Today Survey

* Nutrify Today survey finds nutrition to become personalized in future, India to lead industry innovationA global industry survey conducted by Nutrify Today, the world’s first and only nutraceuticals i2c (ideas to commercialization) platform, has found that there is growing optimism around the food and nutrition industry globally. Nutraceutical industry leaders from the USA, Israel, Switzerland, Singapore, India, Hong Kong and Japan were engaged in the survey.

The technological advancements in the Nutra industry will enable a more personalized approach towards nutrition over the next three years with accurate sensors possible via collaborations with expertise in the MedTech industry stated 26% of the respondents.

On the other hand, 12% of the respondents also believe that profiling individuals and providing specific dosages and ingredients as per their requirements will be a possibility too. The food can be prepared by a convergence of robotics and 3D printer using lab-grown ingredients as per the biochemistry and need of the body at that particular time.

Artificial Intelligence is going to play a pivotal role in the Nutra industry too as the food matrix will be designed as per individual needs using data and algorithm, opine 15% of the industry leaders.

Amit Srivastava, Chief Catalyst and Founder of Nutrify Today, believes that the future of Nutra is going to be different from how it is today. Nutrify Today has been working towards shaping the growth of the Nutraceuticals industry by empowering responsible nutrition businesses.

“Automated personalized nutrition where artificial intelligence will manage the nutrient needs and the source of ingredients will evolve into sustainable methodologies using biotech,” he says.

“There are already early-stage entrants who are working on the Nutra-tech. Nutraceuticals of the future will be a multi-disciplinary function of the science which will drive personalized precision nutrition into habits of individuals rather than individuals changing habits to adopt something new,” adds Srivastava.

The survey also discovered optimism about India’s role in the forward movement of Nutra-tech and Nutraceuticals industry in the future. Around 24% of the respondents believe that India will be a leading innovator second only to the United States. With the emergence of fingerprinting of Phyto ingredients from 52 agro-climatic zones, strengths of Indian IT industry coupled with convergence hub of MedTech like Biovalley Incubation Council and AMTZ in India will drive convergence innovation in Nutra-tech. 

The majority of the industry leaders already believe that the existing early versions of technutra products in the market have done well in the US. Precision nutrition using technutra is going to gain global significance in the future. With the growing adoption of fingerprinting of Phyto ingredients, deployment of blockchain technologies, it will also change the agricultural sector with an increased demand for nutrition-rich. The industry leaders, on the other hand, also identified certain challenges like lack of skilled workforce and global regulatory framework, data privacy, high cost, etc. In a complex environment with opportunity and challenges, it’s often the new generation start-ups that drive innovation and the same is evident from all emerging success stories across the world. The technutra will be an innovation-driven by start-up and eventually, there will be large nutrition conglomerates that would enter this segment by way of M&A.

The Weaving Of A Six Yard Story On - Taneira - In The Indian Industry

Taneira(from Titan Company Limited), a label for the Indian woman who loves to express herself in six yards of elegance, presents a new collection of handcrafted handloom sarees on Nykaa Fashion, the multi-brand e-commerce fashion platform. For those who love the form and fall of the saree, this collection is a quintessential wardrobe staple in handloom cotton, with the perfect infusion of contemporary design and craftsmanship.

Taneira's collection on Nykaa Fashion unveils signature styles from different weaving regions of India-Bengal, Chettinad and Ujjain, in myriad colours and designs. Patterned borders, buttis, geometric motifs and stripes feature prominently in each yard.

Every Taneira saree reflects different facets of beauty, craft and consciousness in a collection that is rooted in Indian weaving traditions and is yet progressive in expression. Taneira is for the Indian woman with a penchant for a unique voice of design, workmanship, weaves, traditional hand crafts in pure, natural fabrics.

Nykaa Fashion also features a collection of classic Kanjeevarams and temple sarees in silk by Taneira, that would be ideal for intimate celebrations this year.

Shop Taneira on the Nykaa Fashion website and app.

About Nykaa Fashion

Nykaa Fashion, launched in 2018, is the multi-brand ecommerce fashion offering fromNykaa, India’s leading beauty & fashion destination. Headed by Adwaita Nayar, the Nykaa Fashion website and app is focused on being discovery-led and ‘high on style’ with a carefully curated collection of 1000+ Indian and global brands across clothing, accessories and footwear to appeal to every consumer. The Nykaa Fashion offering pans across women’s wear, menswear, kids wear and luxe categories. Building on the Nykaa pillars of premium curation and content, Nykaa Fashion inspires the Indian consumers to make the best choices for themselves while focusing on the joy of buying fashion. This platform also offers customers a chance to browse through the latest trends and collections, with engaging content on the Style Files blog and its social media platforms. In addition to its multi-brand platform, Nykaa Fashion has a strong portfolio of consumer brands: RSVP, Mondano, Likha, Twenty Dresses and most recently acquired Pipa Bella. To demystify the lingerie category and offer an inclusive and comfortable experience, Nykaa Fashion launched Nykd in 2020, its first-ever lingerie, loungewear and athleisure wear brand.

AI-Driven Provider - o9 Solutions Commits To Science Based Targets Pledge

o9 Solutions, a premier AI-driven integrated planning and operations solution provider for the enterprise, announced today it has signed the Business Ambition for 1.5°C pledge as part of the Science-Based Targets initiative (SBTi). In the pledge, o9 Solutions commits to set science-based emissions reductions targets across the entire value chain that are consistent with keeping global warming to 1.5°C above pre-industrial levels. o9 is also committing to a long-term target to reach net-zero emissions by no later than 2050. By taking these steps, the company shows commitment to take concrete steps to reduce its impact on the environment.

Social impact is one of o9’s core values. The company actively promotes positive change initiatives that give back to communities and encourage sustainable practices. o9 decided to respond to SBTi’s urgent call-to-action for companies to set emissions reduction in line with a 1.5°C future, backed by a global network of UN agencies, businesses, and industry leaders. It has committed to a science-based target as o9 believes that an independent, scientific approach will have the biggest impact in order to meet the goals of the Paris Agreement.

o9 Solutions is currently researching and gathering data on its environmental footprint, in order to understand its baseline, incl. energy usage, travel, and other commuting-related footprints. Once this step is completed, o9 will formulate new targets based on the latest scientific research on reducing environmental footprints, no later than May 2023.

Igor Rikalo, COO of o9 Solutions, said: “Social impact is a key part of the DNA of o9 Solutions. We help companies with better forecasting and decision making so that they can make better use of the Earth’s resources. It is important to lead by example and that is why we have selected the Science-Based Targets initiative. We believe that decisions based on research and data are the most effective way to contribute to a positive change to our world.”

About o9 Solutions, Inc.

o9 Solutions is the premier AI-powered platform for driving digital transformations of integrated planning and operations capabilities. Whether it is driving demand, aligning demand and supply, or managing P&L, any process can be made faster and smarter with :o9’s AI-powered digital solutions. Bringing together technology innovations—such as graph-based enterprise modelling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery—into one platform.

Hygiene Brand Nyrrvana Joins Hands With COVID Venture BissiBiss Oota To Provide Food And Sanitisers To The Underprivileged

Nyrrvana, a personal care brand providing sustainable and skin-friendly sanitisers, has joined hands with Bangalore-based not-for-profit venture BissiBissi Oota, to feed meals and provide free sanitisers to COVID patients and the underprivileged. The programme #giftameal for Banglorians, run by PraveshPandey along with AmitNaik (GM of BygBrewski), is currently feeding over 1,700 people at Rs.30 per hot meal for those who can afford and free to underprivileged and covid patients. In a time when many people are facing a lack of access to basic amenities, the venture reached out to Nyrrvana to supply sanitisers along with the hot meals being provided. The personal care brand has distributed 100s of 300ml sanitisers to their 4 outlets- 2 from restaurant and 2 from a cart in a span of 15-20 days.

The programme has also tied up with Swiggy to provide delivery to COVID patients in only Re 1 to ensure more strata of people can freely order in these tough times of need.

Sushi Thanneru, Founder of Nyrrvana, says, “All are affected in some way or other in this pandemic and we should contribute as per our capacity to help others. However, while practicing any social programs, one should take utmost care of hygiene. In the end, we are dealing with a deadly disease and our aim is to stop spreading it, this is only possible when we are incorporating sanitation.”

Nyrrvana sanitizers are well researched, made with plant-based extracts, and formulated by the World Health Organisation (WHO) recommended 75% IPA alcohol in their products. This helps to eliminate any kind of side effects such as cuticle burns, dryness, and itchiness after using sanitizers.

About Nyrrvana

Nyrrvana, a Hyderabad based wellness startup offering a range of sustainable and hygienic products is approved by AYUSH (Board of Ayurveda). Sushi, co-founder of the company during her trip from Singapore to India post her three-month maternity break, realized the huge difference in maintaining hygiene at an individual level. From the country imposing a fine for breaking Covid-19 measures to the country where basic hygiene was not taken seriously. She thought of bringing awareness on sanitization to Indian citizens to hit back this deadly disease with products that can minimize the spread of this dangerous disease to a 99% success rate and that’s when Nyrrvana was planned and formed.

The brand believes that not only incorporating sanitizers in our daily life but what kind of sanitizers we are using is equally important. In the wake of Covid-19, people are sanitizing their hands atleast 10-15 times, alcohol-based sanitizers lead to cuticle burns, dryness and itchiness. Nyrrvana is addressing this issue by ensuring people are using the right products and use World Health Organisation-recommended 75% IPA alcohol in their products. Nyrrvana has added therapeutic fragrances, reduced the chemical ingredients, and used only the required amount of chemicals needed for germ protection. Their sanitisers come in 11 different fragrances -vanilla, chocolate, hibiscus and watermelon. You can select the chosen fragrance while ordering the products — sanitisers or handwashes — on their website.Nyrrvana products are extremely well researched, made with plant-based extracts, essential oils that give therapeutic fragrances and are made keeping in mind every hygiene product rule described by WHO to give their customers the best products at the lowest price in the sector keeping sustainability in mind.

Nyrrvana is all set to launch various products helping people to adopt a sustainable lifestyle. To name a few that are on cards are germ-protection body washes, immunity boosters, shampoos and conditioners.

Ethereum Creator Vitalik Buterin To Deliver Keynote At Virtual FinTech Forum 2021

* Asian platform to discuss Industry 4.0, ESG & Sustainability

Amid rising use of blockchain in finance and cryptocurrencies emerging as Digital Gold for millennial investors across Asian markets, the alternative investment class will take centre stage at Virtual FinTech Forum on May 27 when Ethereum Creator, Vitalik Buterin delivers a keynote address on The Progress of Ethereum and its role in Future of Finance.

As the flagship fintech label co-founded by Finstep Asia Limited and Novsphere Limited, the Virtual Fintech Fair (VFF) is the region’s first fully virtual Fintech event and has become a significant platform for the fintech industry in Asia and a key constituent of the StartmeupHK Festival. Last year, StartmeupHK was attended by over 180,000 delegates from over 90 countries. 

VFF 2021 is supported by over 40 partners including AWS, InvestHK, S&P Global Intelligence, Vacuum Labs and Krungsri Finnovate. Bénédicte Nolens, Head of the BIS Innovation Hub Hong Kong Centre, Bank for International Settlements and Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, The Government of Hong Kong SAR, will also deliver a keynote address.

Among speakers from Indian technology companies and BFSI space include Priti Rathi Gupta, Founder LXME, Anand Kumar Bajaj, MD & CEO, PayNearby,  Monica Jasuja, Head of Product Management, Mobile Financial Solutions, Comviva, Dilip Modi, Chairman and Founder, DiGiSPICE Technologies & Spice Money, Ankit Ratan, CEO & Co-founder, Signzy, Srinivas Jain, Executive Director and Head of Strategy, SBI Mutual Fund.

Global speakers at VFF include Kalidas Ghose, Vice Chairman & CEO, FE Credit, Kampanat Vimolnoht, Head of Investment and Strategic Partnership, Krungsri Finnovate, William Bao Bean, General Partner, SOSV & MD Chinaccelerator & MOX, Michael Bruck, Managing Director, Vacuum Labs, Greg Krasnov, Founder & CEO, Tonik, and Ronit Ghose, Global Sector Head for Banks Research, Co-Head of the FinTech Group and Head of MENA Research, Citi.

Virtual Fintech Fair Co-Founder, Musheer Ahmed said, “As the world moves to the next year of the pandemic a complete relook at the global financial system is warranted by all ecosystem partners from banks to new age fintech companies. VFF2021 will pursue discussion that will help leaders navigate business and reach out to customer as the world increasingly shifts to digital services.” 

The largest Asian BFSI and fintech platform will draw over 5000+ delegates to listen and interact with 50+ renowned speakers across global financial institutions and financial technology firms. From key decision makers including Global Asset Managers, Banks and Technology firms, have been received from 100+ countries for VFF2021.

This full day forum is expected to engage industry stakeholders on discussion around Silicon Valley of the East, Asian investment landscape, talent 4.0, virtual banking in Asia, blockchain and crypto payments, fintech for Green Finance & sustainability, RegTech, InsurTech and banking the unbanked in Asia.

The premier edition of VFF was held in August 2020 drawing over 3000+ delegates from 90+ countries.

About Virtual Fintech Fair:

Over the last year, Virtual Fintech Fair events have been attended by over 10,000 delegates from 100+ Countries. VFF has showcased over 100 innovative Fintechs from across Asia and over 200 thought leader speakers covering Digital Banking, WealthTech, InsurTech, RegTech, Digital Assets, Islamic Finance, Financial Inclusion and Women & FinTech, and more.