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  • Adapt – A FinTech Perspective

    Adapt – A FinTech Perspective

    “The ability to pivot and adapt is key and this not just confined to the new finance start-ups”

    As we have all seen, heard, and experienced – FinTech has had meteoric growth over the past ten years. This shows no sign of slowing because as traditional barriers to entry have lowered, consumer behaviour shifts, access to financing improves, and advancements in technology drive through an ever-increasing demand to access and manage our money online.

    Consequently, company valuations increase, which further attracts investors and new start-ups, and then the cycle repeats.

    Will it end? Yes… but only for those companies that do not adapt fast enough.

    “No company is too big to adapt, the word itself is relative and not an outcome – the key is to start and relentlessly improve”

    The ability to pivot and adapt is key and this not just confined to the new finance start-ups. Almost all of these new companies rely on large financial services providers and institutions, and more traditional ‘western’ economies have been slower to react. This is good news for many Asian economies, such as China and India, where the potential to dominate innovation in this sector is very real. For example, in China mobile payments already outnumber cash payments. Dominated by a duopoly of AliPay and Wechat Pay, they account for almost 95% of all mobile payments. It is not surprising, therefore, that Alibaba maintains its spot as the largest ever IPO with a whopping $21.8 bn. The next two? Both Chinese and both banks.

    However, with this rise comes increasing regulatory pressure. The importance of adapting to new regulations couldn’t be more critical as more and more individuals (and countries!) seek to exploit weaknesses for personal gain. Financial regulators have responded accordingly, with three of the five largest-ever fines being imposed on financial institutions, predominately for failing to adequately manage their risk and regulatory exposure. With over $350 bn fines issued since 2009, is it no surprise that a rapidly expanding new sector of ‘RegTech’ has emerged, fuelled by the complexity, cost of compliance and rapidly altering regulatory change, as more and more companies look to outsource this minefield.

    “product development, whilst is typically dominated by ‘agile iterative delivery’ to get features to our customers quicker, is still plagued by cultural hurdles that impede its effectiveness”

    Company culture must also adapt to the new challenges they face. Product development, whilst is typically dominated by ‘agile iterative delivery’ to get features to our customers quicker, is still plagued by cultural hurdles that impede its effectiveness. New ideas and ‘experiments’ are expected to succeed, and when they don’t – it is seen as a failure rather than a learning. This negativity creates a fear response in the employee that further impedes innovation and new ideas. No company is too big to adapt, the word itself is relative and not an outcome – the key is to start and relentlessly improve.

    Adaption is in our DNA; yet it is often stifled, as uncertainty can be daunting in a culture where it is not celebrated. Covid-19 has caused many of us to change the way we interact, in just one year the global video conferencing market doubled to $7.9 bn in 2020 from $3.9 bn in 2019. Just as we adapt, so does Covid-19 as new, and often more severe variants of the virus circulate.

    Want a career in FinTech? The good news is that being one of the fastest growing sectors, there are plenty of jobs around – but as the typical wage is high, so is demand – especially in IT. Coding skills are still a core requirement, but companies increasingly value employees who can contribute to design, so an understanding of the business domain and user journeys is also a must. These ‘Analyst Developers’ are in high demand. Do not spread yourself too thin, specialize on a specific narrow field – this could be (but not exclusively!) API Engineering, Risk Management, RPA/Automation, Data Science or Blockchain. If you partner this with a spirit of innovation and openness, doors will open and your career will thrive.

    “Want a career in FinTech? The good news is that being one of the fastest growing sectors, there are plenty of jobs around – but as the typical wage is high, so is demand – especially in IT”

    I am fortunate. I work for a payments company that values and encourages change, recognizing this is its greatest asset. We are not perfect, but realizing that gives us our greatest strength – the need to adapt.

  • Exploring Career and Business Options in Pharma and Allied Industry

    Exploring Career and Business Options in Pharma and Allied Industry

    “Even if you are not a medical doctor, with multiple options for subjects in your graduation or post-graduation, clubbed with a Business Management degree; the list of career options becomes long when it comes to the pharmaceutical /Biotechnology/Healthcare Arena”

    I was riding my LML scooter with a leather bag full of samples and promo literature for doctors. The bag was tucked diagonally near the footrest area, so that I could use my right foot for braking while supporting the bag with my left leg to prevent it from slipping off. On the pillion seat was tied a carry bag with an extra set of clothes and utilities for the overnight stay in a small town near the UP-Bihar border. It took two hours to navigate the 110 km distance, and my ankles were severely swollen due to the awkward position of my bag in the footrest area. I spotted a pothole few meters ahead and Screeeeech… as the brakes usually sound. With a soft thud and a momentary Screeeeech, the airplane landed at Berlin airport, and I realized that I had dozed off during the flight and was dreaming about my early career days as a Medical Sales Executive. Starting as a front-line sales representative and now hopping flights between European cities for business meetings as Vice-President, my 24-year career has been a mix of ups and downs but with tremendous learnings related to the hard and soft skills for business management required at each stage of your career.

    Not many professionals are fortunate enough to get repeated opportunities and progress to such a level; and I owe a lot to my seniors and mentors and the fantastic team members I have had throughout my career: without their support I would not be where I am today.

    Looking back again to my final year of B.Sc., on the day of my last exam, as my classmates moved out of the college gate, the atmosphere was one of exuberance. Obviously, there was excitement about the end of college and rigorous studies… but I was lost in my own thoughts.

    Until then I had my college to attend, but what would I do from tomorrow? With no daily schedule and routine for the forthcoming days I was apprehensive of what the future held for me. 25 years ago, there was no internet, no career counsellors and not as many mentors to guide you towards the next stage, to help you prepare for your professional life. The future was unclear.

    Paradigm Shift: Beyond Sales & Marketing or Patient Services Even if you are not a medical doctor, with multiple options for subjects in your graduation or post-graduation, clubbed with a Business Management degree; the list of career options becomes long when it comes to the Pharmaceutical /Biotechnology/Healthcare Arena.

    The Indian pharmaceutical industry is growing at a rapid pace and currently holds a respectable place in the international pharmaceutical market due to immense manufacturing and supply capabilities.

    Under the umbrella of the pharmaceutical domain; sub-domains and verticals have come up providing numerous career options to the forthcoming generations of professionals and new graduates with skills related to IT, legal services, human resource development, administration, production, sales and marketing, production, and so forth.

    “Globally, India is the largest provider of generic drugs. The Indian pharmaceutical-sector industry supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. India is the largest contributor in UNESC, with over 50-60% share”

    For Gen-X entrepreneurs, there could not be a better atmosphere to identify their own niche and investment capabilities and come up with new business ideas and align themselves in this fast-paced industry. All are welcome to join the world of Pharmaceutical Business – both the domestic and international communities welcome you to showcase your skills and capabilities as a professional or as an entrepreneur.

    Globally, India is the largest provider of generic drugs. The Indian pharmaceutical-sector industry supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. India is the largest contributor in UNESC, with over 50-60% share.

    career opportunities abound in the pharmaceutical business in:

    • Active Sales & Marketing • Start with the domestic Indian market and progress into the international business environment • Start your career as a Sales Executive/Medical Representative in a pharmaceutical company or make inroads into product management • After ten years of an active career, having learnt the required skills, you may cross various hierarchies and see yourself at a senior/mid-senior level role in your organization. • With a proven track record during your initial years you may get noticed in your own organization, or another company, and get an opportunity in sales, marketing, business development, or support services teams managing international business.
    • Back-End & Support Services Skilled professionals are employed in the pharmaceutical industry in human resource management teams, training and coaching, office administration, legal department, research and development, business data analytics, web development and graphic design, e-commerce for pharmaceutical OTC products, distribution and supply chain, logistics, clinical trial management, quality control, accounts, finance and auditing, IT department, medical content writing, and so forth.
    • Business Opportunities There is an abundance of business opportunities in the pharmaceutical industry today – there is great potential for development of pharmaceutical distribution agencies, pharmaceutical logistic service centers, warehousing and cold-chain services, analytical laboratories, supply of packaging material, outsourced HR and recruitment services, clinical trial and product development centers.
  • 5 Things to Check Before Taking Up a Job Offer

    5 Things to Check Before Taking Up a Job Offer

    “companies that focus on resolving every customer problem generally treat employees well and tend to have employee-centric culture”

    Arun was excited about his new job offer. Honestly, the offer matched about 80% of his expectations, though he was a little skeptical about accepting it. He had to be. He had started on his current job just three months ago. He had thought technology companies were doing well and that AI would have enough demand in the future.

    Another thing on his mind was the present slump in businesses, as many strive to endure the job uncertainty post-pandemic. He last job was in a promising startup, at least that’s what they had portrayed. He had never imagined that the leadership would be so rude! It was a pure mismatch of culture and morality. What if this new offer turned out to be another nightmare?

    Arun was worried he might drive his career into one more trap, and he was serious about making sure the job was a perfect match before he took another step towards it – there are plenty of stories of misadventures of young professionals in the early phase of their careers.

    I am about to share five key traits that can help you recognize organizational behaviors that are conducive to growth – these are traits shared by the companies that are worth pursuing in your career!

    Arun’s story talks about a culture mismatch. Every organization has a distinctive culture. Culture percolates from the top down. You may find enough reviews in Glassdoor, AmbitionBox, or mouthshut.com to help you form an opinion about the culture of the company. But let me share another way to learn about an organization’s culture. Look for the reactions of users or customers. Companies that focus on resolving every customer problem generally treat employees well and tend to have employee-centric culture.

    “If a company caters to a niche market with less competition, they tend to flourish”

    Another factor to consider is the uniqueness of the product and services provided. If a company caters to a niche market with less competition, they tend to flourish. Companies that reap growth usually share the fruit with employees. The quality and uniqueness of products or services can be gauged by reading industry sectoral news, company reviews, and scanning websites. Companies that offer to resolve a common cause of discomfort for people tend to fetch a premium value from the market; and if the company prospers, employees thrive.

    A third point to focus on is whether employee policies are attuned to social, cultural, and global trends. These are indicators of an employee-friendly organization. Many organizations strictly follow employee grievance mechanisms and keep KPIs for stakeholders to reduce dissatisfaction. Some have policies on gender diversity and inclusion or help employees deal with mental health conditions. Such details are usually not made public, and websites may carry only a few details. The real gauge of these policies is the experience of employees. Find a friend inside the company, and they may share the true picture.

    Fourthly, find out how transparent the organization is in communicating and sharing information. Transparency is another name for genuineness. During the final offer stage, many companies share their present and future business plan, strategic investment goals, or career growth assistance for talent, to keep a newcomer aligned. If a company has a secretive culture and keeps this information classified, be cautious. The best way to tap this trait is to ask the hiring manager during the last stage of the interview about these plans and goals and to note their reaction.

    “Transparency is another name for genuineness”

    Finally, another key element that decides organizational behavior is financial stability. Scarcity of funds may lead to many hurdles and changes in stakeholders’ behavior. Companies can restrict investment on research, innovation, or upgrading their facilities. Such behavior sometimes becomes claustrophobic for employees as they find themselves stuck in a routine with no promise for growth. People may misconstrue infusion of funds as an indicator of growth and join the company where promises are never met, as these are meant to cover the losses. Study financial reports to decipher facts, consult an insider, find a friend within the organization to get the real picture.

    Many people pick up a new job that turns into a disaster in urgency or in excitement. When you buy a car, you spend time researching its functionality, technology, fuel efficiency, and best value for your money. You never go for just the look and lure of commercials! You need to show similar diligence in evaluating a company before you decide to take up an offer. If you progress only when the probability of a match to your expectations is high, your career will find the right flight trajectory!

  • Be an Explorer – and Flourish through the Journey

    Be an Explorer – and Flourish through the Journey

    “Being in sports made me realize that merely providing athlete-support is not a sustainable solution, and that there is a need for creative sports ecosystems”

    It was a hot and humid summer in Delhi in 2013 when I got a call from a new friend – Naman, a 10-year-old boy then. He excitedly asked, “Uncle, can we go to play tennis now as my parents have gone for a wedding?” It was 2 in the afternoon. I felt that childlike rush of freedom, play, and excitement again. I hurriedly agreed to pick him up in half an hour to play on the red-hot clay court in the sweltering Delhi heat. With the temperature on court feeling like 50 degrees Celsius, we survived (not really played) for an hour somehow. I enjoyed being crazy, although heat-stroked, and loved every bit of it. That one incident got me seriously thinking about the ‘power of play’, especially for our younger generation.

    This thought lingered in my mind for many days. There was an overhaul taking place in my mind. I had an exceptional professional career, having seen seven promotions within four years. My good work ethic, commitment, and teamwork coupled with a good organization culture had all contributed to my professional success. While these ingredients were all there, I realized that I was missing out on two crucial elements – ‘passion’ and ‘purpose’. While I loved the thrills, accolades and recognition that my corporate job offered, I missed the internal peace, a sense of having contributed back to society. I wondered what I could achieve if I only added passion to the hard work that I was already putting in. So, I took a leap of faith and one fine morning, I resigned from my job. Although all I heard from people around me was that I was taking a big risk, I did not consider it a risk, as for the first time in my life I had clarity, purpose and internal happiness by-products.

    I may not have played sports at a professional level, yet I had always enjoyed playing sports, watching sports and had internalized the power of sports. Nothing gave me greater joy than seeing people, kids, professionals playing sports; seeing a display of sportsman spirit at all levels – be it a gully game or a professional sport – seeing the way sports connected people in a way nothing else could.  

    With no background, understanding, experience or connections, I started from ground zero. I persevered every single day. And as any sportsman would say – focus on one point at a time, I focussed on one day at a time. Rather than looking out for a job in sports, I invested hugely in myself to first become job-worthy in this new sector. I read a lot of literature about sports, made at least one new connection every day, visited countless sports academies, interacted with all key stakeholders (athletes, parents, coaches, scientists, administrators) in the sports ecosystem; learnt and unlearnt every single day. Within roughly two years of starting my foray into sports, I felt more educated than ever on this self-learning journey.

    “…as any sportsman would say – focus on one point at a time, I focused on one day at a time”

    “Having an opportunity to work with people who want to excel on a daily basis has immensely helped me to be a better version of myself every day. I have realized the power of effort, perseverance, detailing, execution, intention, passion, and above all – a purpose”

    With the right intentions and learning from the ground up, I could see one opportunity after another to serve sports. I had opportunities to serve a lot of sports participants (athletes, coaches, community people, children). Many were top Indian athletes from various sports. The turning point in this journey was the chance to support and work with Indian Paralympians. When I saw such specially abled people excelling in sports, breaking their physical barriers, it broke my own mental barriers too. It gave me the most important lesson of my life.

    Being in sports made me realize that merely providing athlete-support is not a sustainable solution, and that there is a need for creative sports ecosystems. I was fascinated with the system built by Pullela Gopichand, Chief National Badminton Coach. Through help from a close friend, I was introduced to Pullela Gopichand. Having always been a great fan of his, and with a bigger intent to contribute to Indian sports development, I presented my ideas and understood his thoughts on building sustainable eco-systems. Within a month of that meeting, I came to Gopichand Academy in Hyderabad and thereafter made a permanent home in the city. I was able to contribute to his next dream/vision of ‘Physical Literacy for every Indian Child’. This initiative could reach over 30,000 government schools all over India.

    Through Gopichand Foundation, we initiated the creation of a sustainable system for athletics development under the leadership of Coach Nagapuri Ramesh. The project has athletes from very humble backgrounds; and gave me the biggest opportunity to ‘impact human lives through sports’. This project and the ‘physical literacy’ initiative made me reflect and realize that a focus on sports development was not enough to earn medals, a focus on society and nation development through sports for all was even more important.

    “We are on a mission to promote Olympism Values – Excellence | Friendship | Respect – through sports to our younger population”

    From 2017 onwards, I was fortunate to work with another one of my idols, Abhinav Bindra, India’s only individual Olympic Gold Medallist. Under his leadership, we are on a mission to promote Olympism Values – Excellence | Friendship | Respect – through sports to our younger population.

    Having an opportunity to work with people who want to excel on a daily basis has immensely helped me to be a better version of myself every day. I have realized the power of effort, perseverance, detailing, execution, intention, passion, and above all – a purpose. To summarize, I found a purpose that resonated with my passion and I put my heart and sweat into it, and I am flourishing through this journey. 

  • Sustainable Impacting Investing: Investing in Tomorrow, Today

    Sustainable Impacting Investing: Investing in Tomorrow, Today

    “Committing to growth and sustainability is our impact, and impact requires investment”

    As young professionals embark on the career phase of their lives – decades of earning, it is fundamentally important that the prioritization of investment is paramount in their personal budgeting process. With technology and innovation moving at such a rapid pace, the opportunity to be on the cutting-edge of impact investment yielding higher than average returns is now. It was once said that success is not measured by the amount of money you make but by the lives you impact – the mantra that must begin to drive our collective business purpose along with our humanitarian conscience. As we move forward in this UN-declared Decade of Action, we are beginning to recognize that fiscal responsibly will be attained by infusing sustainability into our personal responsibility. Committing to growth and sustainability is our impact, and impact requires investment.

    ‘Impact’ is one of the most overused words of current times, however, when pertaining to actions which make a positive difference to people, society, or the planet, the thesaurus is noticeably devoid of meaningful options. Where profitability was once the primary designation of a successful business, now, in this age of sustainability and with the understanding that we have a collective responsibility to the future, our success is determined by the footprint we leave and the difference we make. We all bear a degree of culpability towards the planetary turmoil we are facing, and, moving forward, ‘responsibility’ must become the nucleus of our individual choices, behaviors, and investment, and will be the foundation upon which the future will be shaped. But this responsibly also brings possibility, and the largest returns on our impact investments come when we merge the two.

    Impact investing seeks to affect change on the ecosystem of life, unleashing the power of capital for global good. As governments, markets and consumers begin to embrace their responsibility to sustainability, impact investments are seeing accelerated returns as a result. Rishabh Chokhani, CEO of Naturevibe Botanicals, noted that today’s consumers want to buy a more responsible lifestyle, rather than just a product. Consumers are recognizing that our long-term survival, living on a healthy and vibrant planet, depends on the responsible choices we make today. This is also true of the impact investment market, and this demand for responsible innovation by consumers, allows increasingly forward-thinking and innovative options for unconventional, diverse, and viable investments, and a stronger, more diverse portfolio.

    Early-stage tech, energy, and environmental solution companies are a good launchpad for the new impact investor. These ‘ethical’ investments, allowing for both equity or debt, can be an extraordinary opportunity for a seasoned businessperson investing in a start-up to share their expertise and management approaches, providing financial value as well as leadership guidance in return for their equity share. Growth and prosperity will increasingly come from unity, supporting the evidenced concept that we are stronger together. Now more than ever, how we invest our money will play a significant and determining role in the future viability or failure of our planet. And… the future depends on the decisions we make now. Our investment decisions must reflect our acknowledgment that we are all stakeholders of the planet – good and bad, and impact investment MUST become a mandatory ingredient in both our business and personal portfolios.

    “The effects of climate change will be irreversible by 2030. Let that sink in. We have less than ten years to reverse the catastrophic and irreversible damage being done to our planet”

    “Investment in sustainability is the vehicle that will allow us to positively influence the mandates thrust on us by prior decades of damage”

    Why is it essential for us to prioritize impact, and pursue investment to achieve that impact? The effects of climate change will be irreversible by 2030. Let that sink in. We have less than ten years to reverse the catastrophic and irreversible damage being done to our planet. If you want your great-grandchildren to have the opportunity to ski on a mountain still covered in snow – if you want them to swim in safe, clean oceans and have clean water to drink and food to eat – if you yourself want unpolluted air to breath, then we have the ethical obligation to impact-invest in our future. Earth Day USA regards this as the beginning of the last crucial decade of humankind. Scary? It certainly is. Our global reality is shocking, and too often, we stick our heads in the sand, thinking, “it won’t happen during my lifetime”, and we leave the solutions to the future generations. But consider this – the 20 warmest years on record have occurred in the last 22 years. The percentage of carbon dioxide in the air is the highest it’s been in 3 million years. Eleven percent of the greenhouse gas emissions are caused by our accelerated deforestation. Half of all amphibians are at risk of extinction due to climate change, with scientists estimating that a dozen species of plants and animals go extinct each day because of effects related to climate change. Much of the world is facing extreme weather shifts – floods, earthquakes, superstorms, excessive heatwaves – all due to climate change. While we have a very narrow window of time left to be able to reverse the negative trajectory of our planet, if we prioritize impact investing, we will be able to create a viable and sustainable environment for future generations. Most nations recognize the value in signing global compacts. We understand the need for technologies and innovations which will optimize our work leaving less of an environmental footprint. We can develop precision agriculture techniques which will allow us to ensure food and water security. But we cannot achieve any of these imperatives without capital investment – investing in the products, concepts, innovations, and technologies which will allow us to charge boldly towards a sustainable and durable future. This responsibility to sustainability allows us to diversify and accelerate our personal portfolios, having the opportunity to choose interesting, forward-looking, and transformational technologies, products, and solutions, giving our investments the opportunity to grow at unprecedented rates of return.

    Financial return and sustainability must go hand in hand, with sustainability taking the lead. We have a very short and prescribed time to make an impact which can save our future. Sustainable impact is the most significant responsibility facing humankind since the dawn of man. Investment in sustainability is the vehicle that will allow us to positively influence the mandates thrust on us by prior decades of damage. We are the authors of our story, and we decide whether that story goes on, or ends. In this Decade of Action, the next chapter is up to us.

  • Returning to School

    Returning to School

    “In the near future, we can only hope for things to return to complete normalcy, albeit with the added responsibility of following Covid protocols at all times”

    With schools and educational institutes beginning to resume in-class teaching, things have begun to look up for students. In the near future, we can only hope for things to return to complete normalcy, albeit with the added responsibility of following Covid protocols at all times. The restarting of schools would not only mean attending classes in person, but it will also be a pleasant time for teachers to catch up with pupils, for students to meet one another, and to study and learn together again. It will also be a time to share and learn from each other’s experiences whether good or bad in the past year, to value the importance of coming to school and be excited to be able to do so every day. We also understand how the recent past has taught us that health is of utmost importance. With that learning in mind, we must look at this refreshed phase as a new beginning.

    Returning to educational institutions, however, may not come easy for most children as there are a few pros and cons that are bound to surface. For instance, over time, there has been a loss of motivation for children to rise early to commute to school. There is more pressure on parents with younger children to get them ready and drop them off to school. Tendencies towards lower self-discipline, short attention spans and greater attention to health issues will play a role in having to adapt to a new routine. Another area that has been affected adversely over the course of the past 18 months is the social skills of children, because of little to no interaction with peers.

    “Another area that has been affected adversely over the course of the past 18 months is the social skills of children, because of little to no interaction with peers”

    “Online classes have also encouraged self-directed learning and have helped to refine and critical thinking capabilities”

    And yet, there are some positive aspects too! In the last year and a half, children have not stopped learning. Amongst some of the new things they have learnt are technical skills that they were compelled to understand in order to partake in online learning and interaction. Online classes have also encouraged self-directed learning and have helped to refine and critical thinking capabilities. As learning from the comfort of their homes meant no travelling, children did not feel exhausted. It will now be critical for children to restart their learning journey by coming out of the confines of their homes and back into schools with not only a sound mind but a strong immune system. It is time for students to recapture and regain prime fitness and make up for lost time.

    For every child to achieve success in all their endeavors, I believe physical education is of prime importance. This is, therefore, a time for students to build on their health like never before, and all parents should encourage their children to engage in as many forms of physical education as possible. Remember, we are all in this together!

  • Training and Education in the Services Sector – Time for an Overhaul

    Training and Education in the Services Sector – Time for an Overhaul

    “The future workforce has to, therefore, compete with smart machines and persevere to get smarter, which simply means they must develop superior skills, bandwidth, and knowledge.”

    Technology is literally and figuratively reshaping the world as we know it. The global economy is now, more than ever, dependent on innovation, disruption and reimagination to re-create the manufacturing, services and agricultural sectors. The challenges are not just limited to finding new sustainable and environment-friendly approaches, but extend to the why and how of “smarter ways of doing”, to remain relevant and ahead of the competition.

    Among the key three ‘M’ resources – namely, Men, Money, Materials – conventionally speaking, the services sector continues to depend on human resources (whereas manufacturing is now almost totally automated). However, there is a noticeable change in the way in which human resource is perceived, as compared to machines (with all its salient advantages in a set environment) to keep pace with the 24*7*365 business phenomenon. Constantly changing and unpredictable needs and demands of the millennial consumer, spoilt for choice, are driving manufacturing and services sectors to automate any and every aspect of the work sphere that are replaceable from man to machines for speed, agility, and low cost. The future workforce has to, therefore, compete with smart machines and persevere to get smarter, which simply means they must develop superior skills, bandwidth, and knowledge.

    I see the possibilities of super humans being groomed from the emerging tech savvy cerebral younger generation, who have acquired superior skills compared to the previous generations at corresponding ages. Thanks to immersion at a very early stage, say at toddler level, to state-of-the-art hardware and software, the gen-next may be able to learn and train only with a total upgrade of syllabus and curriculum of schools and colleges, which need to equip themselves with new multi-functional and expert (not trainee) skill sets. Talking about the hospitality industry, service techniques and management approach will have to undergo drastic changes to cope with the highly automated IOT and AI ecosystem in most manually replaceable tasks. The New Norm is all about smart learning, enlarged span to broaden the scope of capabilities and capacities of individuals.

    Smart Talent, powered by cutting edge tech skills, is emerging as the new smart work force that will drive services in a far more efficient and consistent manner, circumventing the very nature of the services business which by nature is unpredictable, high variance and very individual specific – calling for flexibility along with efficiency. Herein lies the significance of a future-oriented approach to education, training, and development to build a new generation of “Smart workers”, equipped with smart skills and adequate theoretical knowledge.

    No longer can organizations only rely on those who have risen from the ranks through the shop floor. Time has come for India, so heavily dependent on its services sector, to come up with a disruptive plan to alter the basic educational approach – right from primary school up to college levels. There is no choice. Livelihood skills now have to be brought into the mainstream of school syllabus, as job-oriented training is the need of the hour. Labour reforms and a culture of respectability – with dignity for every skilled job – will go a long way to attract high calibre school and pre-graduate college students to technical and skilled jobs.

    “Time has come for India, so heavily dependent on its services sector, to come up with a disruptive plan to alter the basic educational approach – right from primary school up to college levels”

    Let us delve into one of the most promising, high potential yet uncomplicated segments of the services sector – tourism, hospitality and travel. Millions of trained, skilled young men and women can be employed in the hospitality sector by bringing about intensive focus and adopting game-changing modern technology to educate and skill a huge number of young teenagers in technical subjects such as culinary arts and facilities management. Automation in operational management to drive efficiency while empowering individuals to acquire multi-skilling capabilities. India must experiment – at least in urbanized cities and towns, with tech-enabled education and skilling in professional employment – in industries like hospitality and tourism by targeting the dropouts or unschooled work force to go through practical, easy-to-learn classes with a high dose of practical sessions on the shopfloor.

    The future of hotel management colleges, services management programs, craft centres for certificate courses, will all be altered to accommodate inclusion of experiential, live shop floor learning simultaneously. With consumers gaining deep knowledge on every aspect with exposure through the internet, a new generation of guests will raise the bar in terms of situational management. Industry-academy interaction will take place almost on a daily basis as most techniques and established conventional methods will become redundant, forcing the pace of learning to almost real-time innovation. Future campus recruits have to be billable from day one to fill in the frontline guest-facing productive vacancies, as no hospitality (or for that matter any services or product-driven firm) can afford to carry unproductive trainees for months to settle down by trial and error. Attrition rates are bound to be high with incumbent executives or associates feeling the urge to move on, switch jobs and roles in search of new skills/learnings in a new environment. It is inevitable, more so because most of the next generation workforce will aspire to work for themselves as entrepreneurs at some stage.

    Fundamentally, training and coaching a smart new generation calls for a paradigm shift in the infrastructure of educational institutions, as well as an overhaul of syllabus and faculty. Career planning will be replaced with entrepreneurial planning, development and deployment within the organization to retain key players.

  • A Conversation With My Younger Self

    A Conversation With My Younger Self

    “Make the decision to be courageous, knowing that courage is the antivenom to regret”

    If I could turn back the hands of the clock twenty-five years, what would I tell myself, as I set out to begin what would undoubtedly become one of the most unexpected career journeys? What lessons would be the most important? What experiences would be the most transformational? Which people would have biggest impact? I’m not entirely sure a conversation with my twenty-four-year self would have been well received, as that is the age when I thought I had all the answers. I thought my pathway was resolute and inflexible. I thought that success came from climbing a predesigned, institutionally accepted career ladder was the goal to business promotion, success and, ultimately, happiness.

    How wrong I was.

    As I reflect on the many years since my inauguration into business – and government, since that’s where my career journey began – there are some key points that my far-too-confident self might well have embraced, or at least filed away for future guidance, assurance, and perspective. No one wants to hear “I told you so”, and I certainly would not mentor my younger self in that way. Rather, I respect the fact that many of the most valuable lessons I learned, making me who I am today, came from those formidable years when I was just starting to figure things out.

    Courage

    Make the decision to be courageous, knowing that courage is the antivenom to regret. Every action you take in life, every juncture you face, from baby steps to giant leaps, will require you to make a decision, and making decisions requires courage. Too often, people lack the confidence to make resolute choices. We ask others for their opinions, approvals, or consensus, and all this does is muddy the water of thought, and force you to second guess yourself, or even worse… make no decision at all.

    Be strong in your convictions, even if those convictions are contrary to popular opinion. Do not be afraid to swim against the current. Make your decision, believe in that decision, and follow it through to the end – regardless of the outcome. Do not doubt yourself. YOU are the one person with whom you can have complete trust. Have the courage to make mistakes. Mistakes are as much a part of life as successes, and they often teach you the largest, most important lessons. Do not be afraid to fail. Failure is one of the necessary stepping-stones of life. Follow your endeavors through to the end – sometimes the end is bitter, and sometimes sweet, but each conclusion you reach will leave you stronger than you were at inception. There will always be people who tell you, “It can’t be done”. Remember, the ones who can’t are afraid you WILL. But you will never know if you can be the one to “get it done” unless you have the courage to begin.

    Take risks. To quote William Shedd, “A ship is safe in the harbor, but that’s not what a ship was built for”. Greatness doesn’t come from comfort zones. Dream big, work hard, and don’t give up. You may have to try 1,000 keys before you can find the one that opens the door, but if you quit, that door will stay shut forever.

    “Mistakes are as much a part of life as successes, and they often teach you the largest, most important lessons.”

    “..you grow and mature, so will your hopes, goals, and aspirations. Life is unpredictable, and ever changing. Be brave enough to change with it”

    Flexibility

    Follow your dreams, but do not be afraid to change those dreams. As you grow and mature, so will your hopes, goals, and aspirations. Life is unpredictable, and ever changing. Be brave enough to change with it. As Darwin said, “It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change”. Do not be afraid to embrace change. The ones who are crazy enough to believe they can change the world, are the ones who do.

    To be truly flexible, you must also remember that life never stops teaching so you should never stop learning. If you are firmly rooted in one contrived pathway, you will miss the most incredible, life-changing experiences and people that appear when you least expect them. To cast away old dreams and goals, and to allow grander visions to take their place requires both courage and a willingness to pivot, but in doing so, you will open imaginable doorways to opportunity.

    Pay Attention

    We often get so bogged down in ourselves – our technology and devices, our thoughts, or beliefs, our responsibilities, that we fail to pay attention to what – and who, is around us. Put down your phone. Look up. SEE that world. Destiny will walk right by those who are too busy taking selfies.

    Take the time to strike up conversation. Get to know the strangers who are around you as you sit at a coffee bar, ride the metro, or wait in line at the supermarket. These meaningful interactions can often lead to the most impactful new friendships, business relationships, opportunities and can take you down extraordinary pathways. Always try to find a way to be valuable to the people you meet, making it more about what you can do for them than what they can do for you. This is how you build a substantial network – this is how you can come together to truly BE the change that the world so desperately needs.

    Travel

    Travel. See the world. Prioritize your spending on experiences, rather than material possessions. Appreciate cultures, foods, and landmarks. Recognize that people are people, despite differences in race, gender, language, tradition, or religion. There are good and bad people – good and bad behaviors – in all countries and cultures. Be respectful. You are the stewards of our planet, and you have the power to heal the turmoil that the past generations have created. We have no “Planet B”, and it can no longer be us against each other… it must be us together for a solution.

    When you travel and embrace the differences and divergent perspectives of others, you grow, mature, and develop your own emotional intelligence and tolerance – making you an effective leader and compassionate human being.

    “Always try to find a way to be valuable to the people you meet, making it more about what you can do for them than what they can do for you. This is how you build a substantial network – this is how you can come together to truly BE the change that the world so desperately needs”

    “To be a true leader, you do not have to have all the answers. Value your team, respect divergent opinions, be open to innovation. Be an achiever, doer, shaper, impactor, creator, and most importantly, be a collaborator”

    Leadership

    Everyone is born with the capacity to be a leader, but few ever recognize, develop, and nurture the skills necessary to truly lead – courage, integrity, tolerance, and commitment to purpose. Leaders create leaders, but to be a great leader, you must learn from those in the past who have exhibited bravery under duress, kindness in place of cruelty, courage during crisis and strength when the tribe was weak.

    We have all worked for bad leaders at some point. Be the leader you wished you had in that situation. To be a true leader, you do not have to have all the answers. Value your team, respect divergent opinions, be open to innovation. Be an achiever, doer, shaper, impactor, creator, and most importantly, be a collaborator.

    In Summary

    In this very disruptive future we are facing, remember that the biggest impact sometimes comes from the smallest gesture. The future demands a regrowth of our human development capabilities. Do not be afraid of adversity, as adversity is one of the steppingstones of greatness. Never seek comfort from those who have decided to be comfortable, because greatness does not come from being comfortable.

    Be kind to yourself, while being kind to others. If you make a mistake, forgive yourself and start fresh with the sunrise. Make ‘being happy’ a priority and know that you can’t wait until life isn’t hard anymore to be happy. Set aside the things that you knew about the past and CREATE the things that will be true about the future. You are in competition with no one. Don’t worry about playing the ‘game’ better than others, simply, each day try to be a better leader, teammate, friend, parent, spouse… human being, than you were yesterday. If you can do this, then you will have achieved your ultimate success.

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