50% Of India Leaders Feel Unsure About The Future Of Work: PwC

The survey highlights the need to put ‘people and culture first’ to build relevant, sustainable workplaces

•         50% of India leaders agree there is a need to plan for multiple possible futures around the workplace and workforce but cost pressure and the fear of setting a precedent holds them back from taking action.

•         48 % of India leaders agree it is very important to identify the potential risks associated with replacing human work with technology but are reluctant to create a culture of transparency.  

•         54% of India leaders realise the importance of identifying the skills needed to keep pace with the changing times. However they are reluctant to take action due to competing priorities.

India leaders increasingly agree that the workplace – which in the past was for the people – has now evolved into a workspace of the people and that the future will entail further reimagining of the workforce and work model. Aligning individual goals to organisational purpose has now become all the more critical with the pivotal role it plays in driving organisational growth in a hybrid world. Despite this realisation, cost pressures, competing investments or priorities, lack of systems and data, and organisational culture are the biggest inhibitors faced by India leaders in creating a more fit for future workplace. This is according to PwC India’s People and culture first: Transformation journey in the future of work report. It also reveals that the future of work involves tapping into talent virtually in Tier 2 and Tier 3 cities on the one hand, and leveraging the gig economy on the other.

The report further highlights the six no-regrets moves* identified by India leaders to prepare for the future of work and also presents the six imperatives** identified by PwC India to eliminate the blockers to workforce challenges and to future-proof organisations.

Chaitali Mukherjee, Partner and Leader, People & Organisation and HR Transformation, PwC India said: “Earlier workforce challenges centred around broader areas of organisational design and capabilities woven in with organisational culture. But with the changing nature of the workplace, the challenges seem to be more employee driven, both globally and locally. At this juncture, it is important for all organisations across the world to prioritise leadership capabilities in order to orchestrate changes and move the needle in business.

Over the past two years, the pandemic has compelled leaders to question their choices on many aspects affecting their organisations, right from people to culture to technology. They have realised, as our report indicates, that along with strategic organisational intent and system optimisation, they also need to proactively act on workforce initiatives, build capability in a well-considered way, and, among other things, work towards making their culture more resilient in order to be future ready.”

The imperatives mentioned above highlight the need to focus on the following three critical questions to action the six no-regrets moves that place people and culture first in the journey of transformation; answers to these questions will pave the way for the future of work:

1.       Culture promotes innovation. Innovation drives growth: Are we valuing capability and culture to drive organisational performance and productivity?

2.       Identifying relevant skill sets and upskilling will enable organisations to stay ahead of the curve. Are we readying ourselves for the ‘Skills Age’?

3.    Cost pressures and competing investments/priorities are common issues for most organisations. Are we holding ourselves accountable for prioritising the right investment decisions?

“All of this entails a change in leadership perspective – now is the time for leaders to undergo a mindset change and understand that employees should not be fitted into a single frame or viewed through a homogeneous lens,” Chaitali added.

Karnavati University’s Ahmedabad Design Week (ADW) 3.0 To Kick Start On February 26

* Third edition of ADW To Be Held on Theme of Design and Innovation In Defence and AeroSpace; Thought Leaders, Startups, Investors from Defence Design Fraternity to participate

The third edition of the prestigious Ahmedabad Design Week (ADW) 3.0 – a melting pot of ideas and insights – organised by Karnavati University, based in Uvarsad, Gandhinagar, is all set to Kickstart from February 26 at the varsity’s sprawling campus. The Ahmedabad Design Week will be held on 26th, 27th and 28th February, 2022. Karnavati University is a state private university dedicated to excellence in teaching and is focused on interdisciplinary learning.

Started as India Design Confluence (IDC) in 2018 and later re-branded, ADW is a confluence of designers, thinkers, academicians, researchers, industry captains and entrepreneurs from across the globe. ADW, a design research & dialogue initiative by Karnavati University is largely an academic event. Even during the pandemic, the thought-provoking, poignant dialogues on design continued, but in the digital format

This year’s theme for ADW 3.0 is Design and Innovation in Defence and Aerospace – a topic of strategic importance. The event will be inaugurated by the Honourable General MM Naravane, Chief of Army Staff, Indian Army; along with Shri Hari Babu Srivastava, Outstanding Scientist and Director General – Technology Management (TM), Defence Research and Development Organisation (DRDO), on February 26.

Explaining the rationale behind this year’s theme, Shri Ritesh Hada, President, Karnavati University, said, “ADW 3.0’s themed on Design and Innovation in Defence and Aerospace, is very much in line with Government of India’s mission of achieving Atmanirbharta in defence manufacturing in India.”

“ADW will create a platform for starting a dialogue on the role of design in defence and aerospace, use of emerging technologies and bring together design practitioners, defence sector veterans and innovators to deliberate upon this. This will also be an opportunity to encourage innovators to explore defence sector,” Mr Hada further explained.

ADW is a confluence of design thinkers, thought leaders and practitioners from across the globe and the sole theme of the event is to facilitate discussion, deliberation and identification of scope and the application of design in various domains, fields, and industries.

The previous editions of ADW involved a series of thought-provoking discussions, deliberations, speaker sessions and workshops around the theme of World Design 2025; Design in India and Toying with Design.

Stalwarts from the design fraternity including Dr R Shivaraman, co-founder, Big Bang Boom Solutions; Prahlad Kakkar, Founder, Genesis Film Production, among others; Shiladitya Bora, Filmmaker and Founder of Platoon One Films; Manish Bhatt, Director – Scarecrow M&C Saatchi; Kedar Nimkar, Vice President – Design, Jupiter; Kshitiz Anand, Associate Vice President – Design, Paytm; Maxima Basu, Fashion Designer, Actress and Director, Assistant Director of Oscar-winning film Slumdog Millionnaire; among others, will be present at ADW 3.0 for a host of speaker sessions, workshops and discussions.

Some of the guest speakers who would address the speaker sessions of the event include a series of defence sector experts namely Lieutenant General KJS Dhillon, Former Director General, Defence Intelligence Agency; Dr Sudhir Mishra, Former Director General, CEO and MD, BrahMos Aerospace; Dr G Satheesh Reddy, Secretary, Department of Defence R&D and Chairman, DRDO; Major General M Indrabalan, Additional Director General NCC, Bihar and Jharkhand NCC, among others.

Bengaluru Voted Best City To Make A Home: MyGate Liveability Index

* City’s gated communities voted best on six of 10 parameters, with Pune and Ahmedabad splitting the remaining four

India’s Silicon Valley, Bengaluru, has added another feather to its illustrious cap, emerging as the city with the best gated community living experience, as per MyGate’s Liveability Index for H2 2021. Out of the 10 parameters on which residents can rate their societies, Bengaluru has emerged the topper in six of them, with Ahmedabad leading in two and Mumbai and Pune ahead of the pack in one each.

The MyGate Liveability Index is based on inputs from residents of the 25,000 gated communities that use the app. The index is based on resident ratings of the society in which they reside across 10 parameters: bachelor friendliness, community safety, family friendliness, ease of commute, pet friendliness, cleanliness, kid friendliness, quality of amenities, eventfulness within the society and elder friendliness. The cities of Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune are part of the index.

According to the index, Bengaluru’s residents find their gated communities safer and cleaner while even being friendlier toward bachelors, pets, children and the elderly, relative to other cities. The city received the top score of 10 on all these parameters. Particularly on Bachelor Friendliness and Pet Friendliness, it had no close competition, with Kolkata (7.88 [relative to Bengaluru]) and Delhi-NCR (7.56) coming in second place. Ahmedabad was voted least accommodating of bachelors with a score of 5.08 and Chennai was least accommodating of pets with a score of 4.77.

While Pune finished at the top in just two categories (Family Friendliness and Ease of Commute), it placed in the top three on eight out of 10 parameters. Ahmedabad topped in two categories (Quality of Amenities and Eventfulness).

Elaborating on the findings of the Index, Abhishek Kumar, COO & Co-founder, MyGate, says, “Residents of gated communities are looking for a better lifestyle for the entire family, not mere accommodation. It is interesting to see how gated communities in different cities are delivering on this expectation and where residents perceive room for improvement. We hope these insights provide administrators with direction to improve gated community living.”

About MyGate

Founded in 2016, MyGate is the largest community app in the country, simplifying urban living of over 3.5 million homes in 25,000+ housing societies. It was ranked #4 on YourStory’s list of India’s Most Disruptive Start-ups in December 2019 and one of India’s coolest start-ups by Business Today in 2019. MyGate was founded by Vijay Arisetty, an ex- IAF pilot (Shaurya Chakra awardee), Abhishek K, former VP at Goldman Sachs, and Shreyans Daga, former project head at Oracle and Digit.

SIRO Becomes The First CRO In India To Introduce A Hybrid Working Model

* #Siroflexiwork, backed by robust monitoring mechanisms, will help employees achieve a better work-life balance.

SIRO Clinpharm, an end-to-end drug development solutions provider to the global healthcare industry, has announced the introduction of a Flexiwork policy for its employees, which would enable them to work within a hybrid environment and enjoy a healthier work-life balance.

SIRO made the decision to implement a hybrid working policy to create a thought-leader model of flexible working, which allows employees to work from their agreed-upon base location, with robust monitoring mechanisms, and a mandate to attend certain days in the office each month to facilitate team meetings and inter-departmental coordination.   

Karan Daftary, Director of SIRO Clinpharm, commenting on the move said, “Rather than being reactive to the situation created by the pandemic, the team at SIRO looked at where they envisioned the organization to be positioned in the next 3-5 years. Hybrid working is here to stay and given the young leadership and quick decision-making abilities, we decided to completely switch to the new model of working overnight while ensuring a framework is in place,”

Currently, the company has launched a three-month pilot to test the implementation of the policy which will then be improved and extended based on the feedback and observation from employees and senior stakeholders. The decision to introduce the policy was taken after an internal survey by SIRO, in which its employees expressed satisfaction with the work-life balance provided by the new hybrid model. The survey also showed that majority of the employees preferred a flexible work policy which allows them to work from their base location, while visiting office few times in a month.

After a thorough analysis and discussion, a minimum four days of attendance a month for each employee has been mandated. In addition, team meetings and review meetings will be conducted regularly to ensure the connect is maintained between departments and deliverables are met.

As a measure to ensure discipline and a strong framework, the organization created a web-based calendar system which enables vertical business leads or managers, to plan meetings at the start of the month in the ‘SIRO monthly calendar’ and circulate it to all team members to prepare them for the days they are expected in the office. Each meeting is clearly defined with purpose and objectives and can be customized monthly based on business needs and requirements. . A provision for need based meetings and reviews have been made a part of the Flexiwork policy.

In addition to the monthly calendar, the company will also maintain a strong mechanism to ensure productivity in the flexible work model by mandating filling of weekly timesheets, regular catch-up meetings and frequent performance reviews.

The company firmly believes that this hybrid model would provide a great balance between ensuring work-life balance of current employees as well as a comforting environment for new employees to join.

About SIRO

SIRO Clinpharm is a global healthcare company that provides end-to-end drug development services. SIRO Clinpharm has a 20-year track record of working with the world's leading biopharmaceutical and medical device businesses. Oncology, diabetes, cardiology, infectious disorders, and the respiratory system are among the many therapeutic areas in which they have worked. Depending on the demands of our clients, we offer adaptable business models across service verticals. The Healthcare and Fitness Leadership Awards 2016, organised by CMO Asia and Stars of the Industry Group, named it the 'Best Clinical Research Company' of the year. SIRO has also won Frost & Sullivan's 'Indian Clinical Research Organization of the Year' award two times (2020 and 2022).

Information Technology Key Q3 Trends: Revenue Growth Momentum Strong; Supply-Side Challenges Persist

 

* Revenue growth momentum was strong in a seasonally soft quarter, driven by a broad-based secular demand environment. We believe that robust broad-based demand and a healthy deal intake/pipeline provide good near-term revenue visibility.

* Tier-1 companies' margins were flat to lower sequentially and lower on a YoY basis due to supply-side challenges. Barring PSYS, Tier-II IT Services companies reported expansion in their EBITM sequentially amid tight labor markets.

*  Tier-II companies outperformed Tier-I peers in sequential revenue growth and margin. Margin expansion was aided by revenue growth-led operating leverage, offshore shift, and productivity improvement, which offset cost inflation due to tight labor markets.

* We roll forward our target prices to Mar'24 and raise CoE assumptions, considering an uptick in interest rates. We upgrade WPRO to BUY. Our pecking order is INFO, WPRO, TECHM, HCLT and TCS among Tier-1 names, and PSYS, MPHL, ROUTE, BSOFT, ECLX and FSOL in mid-caps.

Online Dispute Resolution Platform Presolv360 Raises $1.08 Million In Seed Funding From MGA Ventures, Omidyar Network India, And Others

* The legaltech startup’s portfolio has grown 10X; and is one of the only ODR platforms to be enlisted by the Ministry of Law & Justice and empaneled by a High Court in the country

Presolv360, an Online Dispute Resolution (ODR) platform that offers technology-driven new-age solutions for resolving disputes, has raised $1.08 Million (INR 8.13 crores) in seed funding from MGA Ventures (Ashra Family Office), Omidyar Network India, and the round also saw participation from family offices like Inspira Enterprises, M Pallonji, Jeena and Co., Fine Fragrances, and other angel investors.

The funds will be deployed towards developing and integrating newer technologies and team expansion across tech, data and business development as Presolv360 focuses on expanding its user base.

Founded by Bhaven Shah, Namita Shah, and Aman Sanghavi with the vision to “pre-solve” every dispute through the interplay between technology and data, Presolv360’s platform allows enterprises to resolve disputes with their stakeholders out-of-court and capitalize on bespoke offerings such as smart case management, workflow automation, data-driven insights, blockchain-based validation, digital tools, etc., resulting in reduced costs, time and efforts by up to 65%. On a macro level, this translates into unburdening of the justice delivery system, greater governance, and ease of doing business. Presolv360 is trusted by 35+ enterprises comprising some of the largest banks, NBFCs, business enterprises, e-commerce players and startups. It has also been incubated by India’s leading law firm Cyril Amarchand Mangaldas.

“ODR not only provides disputing parties a fair chance to resolve their disputes online from anywhere across the world, but it also ensures greater participation resulting in higher settlements, trust-building and satisfaction. Today, far more people have access to technology than access to conventional dispute resolution systems, and Presolv360’s ODR platform creates a level-playing field that catalyzes inclusion and has strategic benefits for all stakeholders that gain from efficient and effective resolutions achieved in record time. ODR is solving for one of the most challenging problems faced by us all, and when such ideas are backed by funds like Omidyar Network India and MGA Ventures, its true impact begins to unravel," says Bhaven Shah, Co-founder, Presolv360.

“In an age where transactions take place in a few seconds, dispute resolution for these transactions is taking years to get resolved. We should not be spending years to resolve disputes, rather be leveraging technology to assist in getting a resolution in a just and timely manner and not just staying in the system for years. ODR is a game changer on how one perceives and approaches the process of dispute resolution in India as compared to the traditional court process. We believe that Presolv360 is building a comprehensive, scalable, and proprietary technology platform led by data-driven solutions and machine learning for ODR in India. Presolv360 is designing the future of dispute resolution and Legal Tech in India,” says Gautam Ashra, Partner, MGA Ventures.

“We are inspired by Presolv360’s mission to become the most trusted platform for dispute resolution services. We believe their digital platform will empower businesses and citizens to resolve their disputes at-ease and in an affordable manner. The founding team’s deep customer focus and passion to enable access to dispute resolution for the Next Half Billion (NHB) makes this an exciting investment for us” says Shilpa Kumar, Partner, Omidyar Network India.

ODR has become an exciting category in the LegalTech ecosystem and has gained wide recognition in India from the judiciary, the government and business enterprises.

Sarvaank Associates advised and assisted Presolv360 on the transaction.

About Presolv360:

Presolv360 is an ODR solution to resolve disputes seamlessly in a safe and secure online environment. We cater to the underserved small to mid-value dispute category by offering a party-&-resolution-centric ecosystem and platform infrastructure. The innovation of Presolv360 lies in the design and approach to digitizing dispute resolution, extending beyond mechanisms such as electronic arbitration, conciliation, mediation, negotiation or a combination thereof. We are currently working with some of India’s largest financial institutions, business enterprises and courts, enabling them to resolve large volumes of disputes in a manner that is systematized, data-driven and inclusive.

Moreover, Presolv360’s systems and processes are in line with international standards and are built on the foundation of global model laws on dispute resolution. This makes our solutions amenable for deployment in over 165 jurisdictions across the world.

About MGA Ventures:

MGA Ventures is a single-family office of the Ashra family based in Mumbai. The family is into forex broking and pharma business. We invest in early-stage and growth-stage companies i.e., Seed, Series A or Series B funding rounds. We are sector-agnostic but more focused on consumer, pharma & tech businesses. We provide long-term capital to cater to growth in the Indian entrepreneurial eco-system and partner with new-age companies with a differentiated proposition which is not easily replicable.

About Omidyar Network India:

Omidyar Network India invests in bold entrepreneurs who help create a meaningful life for every Indian, especially the hundreds of millions of Indians in low-income and lower-middle-income populations, ranging from the poorest among us to the existing middle class. To drive empowerment and social impact at scale, we work with entrepreneurs in the private, nonprofit and public sectors, who are tackling India’s hardest and most chronic problems. We make equity investments in early stage enterprises and provide grants to nonprofits in the areas of Digital Society, Education, Emerging Tech, Financial Inclusion, Governance and Citizen Engagement, and Property Rights. Omidyar Network India is part of The Omidyar Group, a diverse collection of companies, organizations and initiatives, supported by philanthropists Pam and Pierre Omidyar, founder of eBay.

LinkedIn’s Creator Accelerator Program Comes To India To Support 200 Creators To Grow Their Communities And Build Engaging Content

* The 10-week incubator-style program will provide creators with coaching, recognition, resources, and a financial grant to bring their ideas to life

* India is LinkedIn's second market to roll out the program, after its launch in the US

* Leading LinkedIn creators Ankur Warikoo, Radhika Gupta, Pooja Dhingra, and Nuseir Yassin come on board as mentors on the program

LinkedIn, the world’s largest online professional network, today, is announcing the India leg of its global Creator Accelerator Program, a 10-week incubator-style initiative to support 200 creators in growing their communities on the platform. The program aims to help creators build engaging content and communities, spark productive conversations, and connect creators to meaningful opportunities. The Creator Accelerator Program is part of LinkedIn’s $25 million commitment to creators globally.

India is the second market to roll out the program, after its successful launch in the US in September 2021. At LinkedIn, India is the fastest growing market with a thriving creator community, and the Creator Accelerator Program is the first of many steps in supporting a diverse range of creators on the platform. As part of this program, the selected 200 creators will get support and access to LinkedIn’s Community Management team, educational workshops, creator-to-creator networking opportunities, access to rich tools and resources, and mentorship opportunities with popular LinkedIn thought leaders Ankur Warikoo (Founder of Nearbuy.com), Radhika Gupta (MD and CEO of Edelweiss AMC), Pooja Dhingra (Founder and CEO of Le 15 Patisserie), and Nuseir Yassin (CEO of Nas Academy). The selected cohort of creators will also be given a financial grant to bring their ideas to life and explore their creativity.

The creators will be shortlisted on the basis of their ability to build passionate communities, unique content, and spark discussions around a variety of professional topics such as skills, future of work and mental health, and find ways to engage with LinkedIn’s 85+ million members in India in a meaningful way.

“Creators are at the heart of the Linkedin community and this program is the first of many steps in our increased commitment to support this community. We have seen that the more conversations that happen on LinkedIn, the more opportunities become available to members everywhere. By equipping a diverse range of voices with the right resources, the Creator Accelerator Program aims to help members unlock greater business opportunities with the content they're making and the conversations they're sparking,” says Ashutosh Gupta, India Country Manager at LinkedIn.

“I’m excited to be a mentor for the amazing creators who are going to be a part of LinkedIn’s Creator Accelerator Program in India. I’m looking forward to coaching creators on how to leverage LinkedIn to build community on the platform. There’s a lot of potential to stand out on LinkedIn and turn your content into your next opportunity,” says Ankur Warikoo, entrepreneur, and mentor on the LinkedIn Creator Accelerator Program.

As part of LinkedIn’s commitment to creators, the platform has also recently introduced Creator Mode, a new platform feature to display creators’ content more prominently, and has built a new Community Management team that is dedicated to helping creators do their best work.

The program is now taking applications from creators from diverse backgrounds, experiences, and expertise, who can use LinkedIn tools to build engaging content using a variety of formats such as video, newsletters, and short-form posts. The program is also open to Hindi language creators. Applications are open till March 16th, and the final cohort of 200 creators will be announced in the coming months.

To help creators understand what’s in store, LinkedIn’s Community Management team is hosting a live event where program leads and partner mentors will walk members through the program details and eligibility criteria. The event will be live on March 2 at 11.30 am IST on the LinkedIn For Creators Page. For more information on the Creator Accelerator Program and where to apply, check out linkedin.com/creators.