Gig Economy and HR Compliance

Gig Economy is on the rise with IT skills requiring professionals to work on project for shorter duration.  As reported by Livemint, the IT flexi staffing market in India, worth $3.04 billion in 2016-17, is expected to grow 14-16% annually to become a $5.3 billion industry by 2021, [Source: Indian Staffing Federation Report].

Most of the skills that are turning into jobs were not grouped as a job so far.  Tenured jobs are giving way to gigs.

As experts to the HR Compliance and Audit how would you manage this for an employer? The emerging skill groups do not have a clarity in terms of jobs. They are mostly work-based than designation or even salary-band based roles! Hence, which are the areas critical to Compliance that an employer must care for while hiring the Flexi-Employee?

Would the retirals be managed by the employee? If so, how ? How would the benefits be managed?

Join the discussion in here: Comply4HR

Deferred payment at Voonik: HR Compliance

Voonik , an online fashion brand has deferred the payments for its 200 employees by 3 months. As reported by Money Control, Voonik’s CEO and Co-Founder Sujayath Ali said those who will quit the company will get a month’s salary as the severance package. He added the company “is currently one or two months away from EBITDA (earnings before, interest, tax, depreciation, and amortisation) profitability.

Subir Chatterjee, Compensation and Benefit Head says, ” Help me to understand this better. The founder deferred the salary to achieve EBIT? So far I know salary is part of operating expenses, don’t they have to book the salary as future liability? Operating Earning comes much before EBIT.”

Pratik Vaidya, MD Karma Management added, “Very few organisation understand the value of human capital & asset rather than treating as Operating expense. Audited Companies that defer salary and other incentive payables & sheepishly roll back in future when their employee leave”.

Subeer Bakshi, CHRO Bajaj Allianz reflects, “Agree that it’s going to be problematic, but it’s a well-intentioned alternative to lay-offs. That’s laudable, and I hope the employees buy in!”

What impact would this have on HR compliances to be maintained in the company. How would the EPF contribution, ESIC if any, other Retirals and tax deduction be managed by the employer in such a situation?

join us for more on this => Comply4HR

Being an Entrepreneur

Have you ever build a company entirely on your own, right from the scratch ? Does your story includes restarting , yet carrying your strengths from one venture to another?

When you look back at your journey, do you too find the dots connecting? Yes, you have a long way to go and that’s what the dots are guiding you to?

How were you as a child and how did that shape you? Were you an extrovert or an introvert? Will, I guess I was an ambivert and still remain so! Did the small incidences from your life shape your behaviour, choices and your life?

Did your lows and highs have a similar story that can match many around you? If you have taken the road less travelled, did it feel different or obvious for you?

If you had to summarise in three points what would it be? For me, its

  1. Curiosity
  2. Being ever-amazed
  3. Hard work, of course !

I was honoured to have been invited by Sampath Iyengar, Chief Visibility Officer at The Indian Networker, talking about who I am, my journey as a professional and few lessons that I picked on the way.

It was great fun as Sam kept asking witty question I was least expecting, putting me to my wit’s end!

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Interestingly few areas of my life that probably even I ignored, came up while talking to Sam. I must add, loved reflecting, in such a witty and a joyous way!

Let me know if your story sounds similar ! I am waiting to hear that.

Women as driver to growth in the age of driverless cars !

Where does women stand, in the age financial meltdowns, geo-political differences and AI? 1 robot out of 4 factory workers in Maruti. The numbers looks even more interesting in totality with 2400 robots at Manesarand 5000 facility. Are we still competing with men for jobs and seats at Premier Institutes? Where does this lands us especially when women have lesser access to education and finances?

India ranks 87th in Global Gender Report 2016 with highest participation of women in education and health sector. Does this set any target for us?  The report further showed that the highest level of penetration remains in the Education and Health sector with fewer women in Technology and Policy making !

With equal participation we can add upto 28 trillion by 2025 which is equal to a combination of US & China’s economy . So what do we need to build this equality ? What are the building blocks that can affect growth ? Law and order , financial independence and education?

These are few laws worldwide that instils sexism so deep that imagining equality remains light years away! When we restrict women legally how does it impact her participation socially rather financially?

 

World Economic Forum reports women remain unpaid for 50% of her productive time at work. How does this add up to her pay?

Global gender index shows Iceland, Finland and Norway tops the chart and not the leading economies! Why is it so? Is it the access to education and policies at work that makes it happen? Few days back when Maternity Benefit act was amended in India, we had people worrying about women no longer being hired. Norway offers 44 weeks of maternity leave. No wonder they have 47% of women participation in Public sector and 26% in the private sector! When we have family friendly policies at work, we are no longer forcing a women to choose between family and work

This tweet sums up the support , policies, access to education and finances that we need! Here we have an young woman as a pilot to Air India taking the same official commute with her mother who works as an air hostess! This organisation isn’t a nimble-foot startup. It is not a super funded private company with loads of money to spend. Yet, that’s how strongly they have been balancing diversity.

40 economies that participated in Global Entrepreneurship monitor reports women Entrepreneurship rate rose by 13% whereas it was 5% for males. However in India , the perceived opportunity for women is 41% compared to their male counterparts. Anusha, who celebrated her 25th Birthday recently pitched her second startup to me. And she is not in Bangalore or Mumbai but in Vishakhapatnam. Her first startup is running successfully in association with Andhra Pradesh Government. According Deloitte report, Millennial women are bridging the gender pay gap. Are we planning anything to bridge the financial gap for the ageing women workforce too?

Where does the empowerment needs to happen? Anuja Shukla, head of Google for entrepreneur runs a project on her on own where she gets girls from age 8-15 to code. Revathy Roy , founder Hey Didi , formerly Vira Cabs, have trained more than 10000 women from socially backward classes to drive. She created employment for them through her startup. She empowered them to own their vehicles and earn out it, offering loans from banks with no collateral. Urvashi Neogi runs her profitable Event Management firm, Biz Integration with her Geographically based team. She doesn’t need a 9-to-5 at an office with face time from her team members.

Here’s a research by Adobe on Future of Work which says, future lies in collaboration and diversity of skills. So what does this imply? In the age where commitment to the work and the speed of delivery remain the only measure at work, do we still need the archaical work design? Would the jobs of tomorrow offer women more potential to deliver? Will the organisations of tomorrow have the bandwidth to build the leaders of tomorrow irrespective of gender?

If you have any HR Query or any query on Future of Work, Employee Engagement, Talent management, Women Empowerment, Retention or Business Strategy please write to me in here. Looking forward to learn more while finding solutions for you. This have been re-blogged from nabomita.com

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

‘Brand You’ works: My journey through building my own startup

Almost a decade back, at XLRI , Dr. Mathai Fenn taught us ‘Brand You’. When he said employers will hire you for who you are , we heard it as a theory. He defined , that the services you deliver and the value you create, is your brand. And that alone can get you around the world!

Today, I write this to share how this worked for me inspite of all the Financial Slowdown, Geo-Political changes and Robots taking away our jobs!

It’s been a great year ! And I am writing this to thank everyone who have been contributing to my success. It’s still feels as if it was just yesterday when I started on my own! A dream that I wanted to live but never knew would happen to me.

Almost an year back, I started working for me. Yes, I was finally the boss I wanted to be and work for 🙂

Initially, I had no plan for what I would want to deliver. There were many options to explore and I believed things would shape up as I would go along. It will remain one of the best decision I ever made!

I never knew what I did had any monetary value to it. I love building communities, connecting businesses, identifying solutions and delivering them. I feel strongly for causes I have been working for. And, I loved speaking about them. Initially, I couldn’t imagine it to be a profitable venture, till I had companies actually looking for it! It has been an exhilarating moment, each time I found a business house quoting a monetary value. The magic of getting paid to speak is immeasurable to me!

Evangelism arrived for me professionally! I had never imagined it would. I never knew the impact of what I did, till I started doing it for me!

Few of the most cherished moment have been speaking at the Think Tank by Adobe, and researching on Future of Work and presenting it in San Francisco, addressing World Forum for Responsible Economy by RESPCO Institute in association with French Government, delivering my first TEDx Talk at TEDx Bocconi U Mumbai, delivering Faculty Management Program at Rajagiri Business School, delivering the Keynote to more than 5000 delegates at E-Summit in Hyderabad, Inaugurating India HR Summit 2016, Inaugurating and delivering the Keynote at International Convention at SVIMS and many more!

I have been working with amazing business leaders, who have not just added on to my experience but even mentored me! I can not thank enough to those people who went beyond commercials to Special thanks to Ministry of Women and Child Development, Dr. Nanu Bhasin, Dr. Jessy Fenn, Mandar Joshi Executive Director TiE Pune, Vishwas Mahajan Trustee TiE Global, Urvashi Neogi Founder Biz Integration, Chitra Narayanan and

I can’t thank enough SHRM India for naming me in their Top 20 Influencer in the country and Indian HR Convention for celebrating my work. It was a joy beyond measure seeing Nabomita.com mentioned in the Ecosystem Partner to TiECon Pune!

Building a firm is all sweat and blood. But then its all worth it, when the world celebrates it with you ! The pain and challenges I went through seems small when I am acknowledged for my efforts. Thank you and cheers to every such moment !

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

How would you deal with Substance Abuse by your Co-Founder

I run a small, IT Firm, rather a startup. We do not have an official HR department. Just me and one other person in the office. I hired a friend of mine about a year ago. I know this was a bad idea. Things have been going fine until she relapsed. This was first time in 2 years, she had been on the up and up. She almost died from a heroine overdose, and they were able to bring her back. My question is, what do I do. Obviously we are a drug free work place. To be honest she didn’t tell her boss about the overdose, but the friend in me, she had known for over a decade. Plus, would this fall under the Substance abuse at work? I don’t want to make her life harder than it needs to be, but I also know that I have a duty to my clients. So confused!

First and foremost kudos to you for taking care of the person involved and getting her the right kind of medical support. Please ensure she gets every care and counselling that she may need to claim her strength back .

How much of a work have you allocated to her? Is that crucial ? Would you be able to manage it on your own ? Would it be possible to train someone to manage her area of work till she is recuperating?

Please mitigate every risk at work and ensure you leave no thread open. Do calculate the cost you may have to incur during this. The more you prepare meticulously, the better you would be able to deal with it.

Now let’s focus on the issue at your startup. It needs an HR Department as early as possible. Please hire an HR consultant and design a Code of Conduct along with every policy manual. Clearly define every defect and its repercussions. Point out the steps to be followed in case there is any non-adherence. Please maintain a zero tolerance to every non-adherence. It doesn’t need you a big team to put Code of Conduct in place. You can start framing it, even if you continue to remain a small startup. Please include guidelines such as the one mentioned in here!

“To work effectively, all of us need a healthy and safe work environment. All forms of substance abuse as well as the use or distribution of drugs and alcohol while at work is prohibited. Unless required as part of your role (for instance for security personnel where deemed necessary), possession and / or use of weapons / firearms or ammunition while on business of the Company is prohibited. All of us should be safe at our place of work. Should you observe any unsafe situations at work, please reach out to the Helpline. “

You work with clients who might be trusting you now, but can ask for an audit at any point of time. Hence, tie up with any back ground verification firm and get every detail checked and validated, including Police and Medical clearance. The more you keep yourself closer to the rules, the better you will sleep at night!

As for your friend, please let her regain strength and wait till she is free of every substance abuse. Please remember it is not about you or your company, but she and her entire career. If you have been her friend for a decade, you are the best person to help her out. In case she is ready for a rehab, please consider one. Every addiction have a treatment. Please consider signing her up for one. Explain a strict action now will save her life. I am sure, you are the best judge on how to convince her. Wish you all the best!

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+