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Recalibrating our People Strategies in a post-COVID World

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By Samir Prakash, Chief Human Resource Officer, Indian Energy Exchange Limited The on-going pandemic has certainly afflicted all nations with unexpected challenges at all levels – individual, social as well as economic. It has not only made every one of us review and redefine our strategies and priorities but has also led to the restructuring of our ways of working, especially at an organisational level, as we prepare to stay relevant and ahead of time. IEX is strongly rooted in employee first principal and this is a key pivot for us as an organization. ‘Work from home’ has been a very common topic of review and discussion to many organisations. Today, most of us are able to continue making significant contributions towards keeping India’s economic engine moving, despite being confined to ...

Everything Remote – Executive Insights Playbook by ThoughtWorks

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In the good old days, new programming languages were tested with the ‘hello, world!’ program — a test for both, the language and one’s ability to navigate it. With COVID-19 affecting the world in ways imaginable and not, it’s clear we need a new language to navigate the new reality. So, ThoughtWorks sat down with leaders of some of the best enterprises in India to learn about their language of resilience. Leading enterprise leaders have been talking about the ‘Future of Work’ for a few years now. However, none of us imagined that the future would present itself under such bizarre circumstances.  COVID-19 hit the world with little warning, and compelled organisations to enable a remote workforce in record-time. Although, we’ve always had distributed teams at ThoughtWorks, going 100% re...

How Corona Has Impacted Blockchain Payments?

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Cryptocurrencies such as bitcoin are slowly making a transition from speculative investment instruments to payments. Special attention to payment habits and the financial life cycle as the COVID-19 pandemic leads to more calls for dematerialization of payments. Overview Impacts Geographic location matters significantly when measuring awareness of cryptocurrencies and interest in making cryptocurrency payments for goods and services. For customers, any transition from currency speculators to retail shoppers is not straightforward. And most consumers are not currency speculators. The acceptance cost for businesses will be significant, especially compared to alternative existing payment options. Companies accepting cryptocurrencies as payment for goods and services may benefit from short...

Digital Hybrid Workplace: Adapting to the New (Ab)normal

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By Prashanth Machaiah and Jemkumar Mathew, Fidelity Investments, India For any organization, especially in these times, ensuring business continuity and seamless business operations amid various uncertainties including employee health and safety, bearish markets, and changing customer requirements can be quite challenging. In this scenario, several enterprises have taken tangible actions to effectively prepare for this new (ab)normal. IT infrastructure One of the foremost requirements of any industry leader in these times is to get ahead of the curve, be prepared for any eventuality and be an early mover. Building technology infrastructure capacity and business resiliency in a timely and periodic manner is a key enabler for ensuring a seamless, smooth and high-speed technology experience f...

India’s economic challenges and revival post-COVID-19

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India is likely to end up with an elongated U-shape recovery. After hitting rock bottom this year, the economy will start its recovery in the next financial year (2021-22). But it sure will not be easy and It just won’t be straightforward. From the beginning of the Covid-19 crisis, economists have been remarkably united on what policymakers should and should not worry about from an economic perspective. The very sharp fall in GDP resulting from health-related restrictions, as well as individuals’ own decisions, is not the main concern – indeed, it is necessary to suppress the virus and therefore allow economic recovery. Rather it is to prevent permanent damage to the economy that government and policy makers should worry about. For India, the pandemic sauntered on stage when the economic s...

How Point of Sale solution is helping retailers amid COVID-19

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COVID-19 outbreak has affected all the companies including hard-working owners, distributors, producers, delivery drivers, workers, and all sorts of retailers. Government and social reactions are evolving at a rapid rate, and we agree, there is nothing important than supporting them. But due to this situation, small businesses and retailers are failing with the current operating system and need a robust solution like POS. It helps to ring up transactions, measure inventory, and accept payments. A best POS system can track data from transactions, maintain inventory, produce reports, and store contact data from customers. Here’s how POS solutions are making the lives of retailers easier. A POS system at your retail store rings out orders, monitors inventory, and helps your business grow...

Business Continuity Plans – Foundation for a Better Future

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With the current, continued impact of COVID-19, combined with the ongoing potential of disastrous weather or other business-destabilizing events, having a solid Business Continuity Plan is more critical than ever before. At the core of any BCP is people. Even more so given that work at home has become the new norm. As we look back at the last few months, the traditional BPC definition has evolved: The conventional ways of planning at country, city, site, and program level has now moved to an individual level BCP’s must be high-tech and high-touch due to location diversity of our people Rapid changes in business dynamics driven by ground realities   There are many nuances to consider when building a BCP in this new normal: Deep trust and agile entrepreneurial leadership to co-create an...

Navigating COVID- Indian Tech Sector Benchmarks and Way Forward

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During the COVID-19 crisis, the synchronized effort of the entire Indian technology industry in ensuring business continuity has been exemplary. Despite initial setbacks, organizations pushed boundaries to adapt to remote working almost overnight. What is even more phenomenal is the ease with which the employees transitioned to a virtual workplace leading to productivity levels that defied employer expectations in many cases. As we move closer towards possibilities ranging from Unlock to adapting to new environment, it is imperative that we analyze the journey so far, and develop forward looking strategies for the Indian Tech sector to emerge stronger and more resilient from this experience. The report- Navigating COVID- Indian Tech Sector Benchmarks and Way Forward highlights th...

The Pandemic Infodemic

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Infodemic refers to the spread of fake news around coronavirus pandemic. While experts claim that false information around this topic is spreading faster than the virus itself, here is a strategy tech giants claim to be following to inhibit the spread of falsehood: Promoting good information: Highlighting the best information is paramount. Searching coronavirus on Google and YouTube will get you the latest stories from trusted news sources, followed by links to WHO and CDC. On similar lines, Amazon, Facebook and Twitter are giving away advertising slots to trusted organizations to spread the right message. Demoting bad information: This is where social media platforms plugin fact-checking platforms which induce AI to label potentially incorrect information as “false”. In such a case, user ...

How Automation will impact the way we work?

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I happened to interview IAS officer Aditya Ranjan, who turned his passion for Robotics into reality by creating the COVID Cobot in his district Chaibasa to carry out food and medicine delivery services to COVID suspected or positive patients. It amazed me to see the work he did and I was intrigued to learn more. “The bot performs basic delivery services with ease,” he said thereby reducing risk of constantly coming in human contact with other members. “What is it that the bot cannot do then?” I enquired. “Well it cannot be empathetic. It cannot think of the next best possible creative solution. It cannot perform critical thinking activities. But it helps me and my team members perform these activities instead,” he gushed.     According to the Pew Research Center Survey on ‘Automa...