October 2023 | Ad Astra HR Consultants

5G Revolution in India: Unravelling Possibilities Amidst Challenges

In a time marked by technological advancements, India stands at an intriguing crossroads. 5G, the next-generation wireless technology, is not just another upgrade; it promises to redefine how businesses and individuals connect and communicate. With its transformative capabilities, from ultra-reliable low-latency communications to machine-type communications, 5G is poised to usher in a change in the digital landscape.

Unique 5G Conundrum

But what does this mean for a nation as diverse and dynamic as India? As many countries are positioning themselves to harness the advantages of 5G, India’s journey promises to be unique. The scale of opportunities, combined with challenges, makes it a hotbed of innovation and adaptation. How will the nation navigate the matrix of potentials and pitfalls in the 5G era? The unfolding narrative is bound to captivate tech enthusiasts, business leaders, and policymakers alike.

To find its path forward, India must adopt a multi-faceted strategy. This includes investing in robust infrastructure, fostering public-private partnerships, ensuring affordable spectrum pricing, and most importantly, prioritizing education and awareness campaigns about the benefits of 5G. With a collaborative and inclusive approach, India can not only overcome the challenges but also set a global benchmark in the 5G evolution.

Adoption Surge

As per the statistics by Ericsson, India is expected to witness an uptick in 5G adoption with projections of 31 million users making the switch to 5G phones by the end of 2023. This surge in numbers aligns with the performance metrics recorded by the FoneArena report, which noted an increase in India’s median download speeds from 13.87 Mbps in September 2022 to a whopping 50.21 Mbps by August 2023.

Businesses in the Limelight

Indian businesses, both startups and established entities, are now positioning themselves to harness the potential of 5G. CRISIL report predicts a surge to 300 million wireless data users harnessing 5G by March 2025. Notably, the manufacturing sector, as indicated by a GSMA report, is primed to be the main beneficiary, capturing 20% of the total benefits from 5G applications, with retail and ICT following closely.

Emerging startups are also seeing vast potential in this space. From healthcare startups offering remote surgeries leveraging 5G’s low latency to agritech ventures using real-time data for precision farming, the possibilities seem endless. Established corporations, on the other hand, are exploring 5G to enhance their supply chain efficiency, optimize logistics, and offer enriched customer experiences. Echoing this sentiment of endless possibilities, the Prime Minister stated at a recent global summit, “Today, 130 crore Indians are getting a wonderful gift in the form of 5G… 5G is the beginning of an infinite sky of opportunities. I congratulate every Indian for this.” He further emphasized that New India would not remain a mere consumer of technology but play an active role in its development and implementation. Reflecting on the nation’s past dependencies, he pointed out, “India was dependent on other countries for 2G, 3G, and 4G technologies. India will play a big role in designing the future wireless technology, and manufacturing related to it.” The emphasis is clear – India is ready not just to adopt, but to lead in the 5G era.

Government Initiatives

The government’s pivotal role in India’s 5G progression is evident. Announced in the 2022-2023 Budget, the 5G service initiation came alongside a new PLI scheme. Additionally, an emphasis on rural broadband expansion promises wider digital inclusion. With the 2023 Right of Way (RoW) rule amendments, the 5G deployment process is now more streamlined, allowing for efficient infrastructure setup.

Challenges

While the opportunities seem endless, the road to 5G in India isn’t devoid of challenges. Infrastructure stands out as a primary concern. The country’s vast landscape, coupled with diverse terrains and dense urban regions, requires investment not just in hardware but also in software infrastructures.

Beyond the infrastructure, another hurdle lies in the spectrum costs. While 5G promises a leap in speed and connectivity, the associated costs, especially in a country like India where pricing is a sensitive aspect, pose challenges. The introduction of 5G also requires devices and equipment that can operate on the new spectrum, potentially leading to initial resistance due to upgrade costs.

5G Through the Eyes of Consumers

A testament to India’s readiness for 5G is the enthusiasm shown by its consumers. According to Erikson Consumer Lab’s Global Survey, India is poised for rapid 5G adoption, with several use cases resonating with consumers. The survey further reveals that one in five consumers is even ready to pay a 14% premium for 5G services. Another study by Ookla reaffirms this, highlighting that 89% of Indian consumers are looking forward to making the switch to 5G.

Rajesh Mehta, a software engineer from Bengaluru, shares, “Ever since I got a taste of 5G during a work trip abroad, I’ve been eagerly waiting for its widespread adoption in India. The speed and reliability are game-changers. It’s not just about faster internet; it’s about unlocking a world of possibilities – be it in gaming, augmented reality experiences, or seamless video conferences. I’m more than ready to invest in a 5G device as it promises to redefine our digital interactions.

Yet, the path isn’t entirely smooth. Affordability, comprehensive coverage, and education about 5G remain challenges that need tackling.

As India stands on the cusp of a 5G revolution, the blend of opportunities and challenges paints an interesting picture. With robust government policies, eager consumers, and businesses ready to innovate, the nation is set for a journey, one that promises to redefine its digital landscape.

Game-Time Decisions: Agility and Adaptability in Sports and Business

In a high-stakes environment like sports and business, quick and informed decision-making can be the difference between wins and losses. The agility to adapt to changing dynamics and the nimbleness to pivot strategies based on real-time data are vital skills, whether you’re on the field or in the boardroom.

Rapid Pivots in Indian Sports

One instance is the nail-biting T20 World Cup final in 2007. In a moment that underscored the potency of unconventional decision-making, captain MS Dhoni entrusted the final over to a relatively inexperienced bowler, Joginder Sharma. This move, which deviated from the conventional strategies, took the opposition by surprise and disrupted their game plan. As a result, India secured its victory in the inaugural T20 World Cup, demonstrating that such decisions, grounded in a deep understanding of the game dynamics, can indeed fetch rewarding results.

Leveraging Data

An article from DataCamp demonstrates how various sports leverage data analytics for insights, showcasing that in today’s digital age, adaptability is intertwined with data-driven decisions. Similarly, businesses across industries are harnessing analytics to optimise their performance. The parallels drawn here emphasise that whether it’s a game or a business strategy, the ability to adapt based on data can be a game-changer.

Adaptive Strategies in Volatile Markets

The business world is no stranger to volatility. Adaptive strategies become essential to navigate such waters. An HBR article discusses the importance of data in accelerating business strategies, highlighting how informed decisions can spearhead growth and innovation by improving processes and enabling employees to work more efficiently. Another piece from Gartner elaborates on building adaptive strategies fit for such times, underscoring the core practices and foundational elements necessary to respond to opportunities and threats in the market.

Decisions made in the heat of the moment can have lasting impacts, both propelling organisations to new heights or potentially leading to unforeseen setbacks. Drawing inspiration from sports, businesses can learn the significance of agility and adaptability. In an era dominated by data and technological advancements, the ability to pivot swiftly, relying on insights, remains a cornerstone for success.

New Lease of Life for Gig Economy

The gig economy is continuously evolving and has seen 93% growth since Jan 2023 in the white-collar space as of July 2023

With the festive season approaching, it is not unusual to see a hiring surge across all industries. But 2023 is seeing a paradigm shift in the world of hiring as gig employment becomes increasingly prevalent among all sectors, especially e-commerce.

Gig workers have an upper hand compared to regular workers as they offer companies with several advantages including flexibility in scaling their workforce up or down based on project needs or fluctuating workloads along with cost savings.

A report by CIEL Group, a talent solutions provider, says demand for gig workers in white-collar jobs has risen recently and it reveals that 55% of the organisations have opted to hire gig workers for their work. Furthermore, in some cases, the proportion of gig workers has reached as high as 20% of their total workforce, suggesting a huge share of gig workers within these organisations.

Sectors like e-commerce, food tech, logistics, and retail are expected to ramp up the hiring of temporary workers, especially in roles related to delivery, logistics, warehouse, sorting, and packing, as they gear up for the festive rush.

“Clearly, the gig economy seems to be the driving force behind the seasonal scaling of workforces,” says Nirupama VG, founder & MD, talent solutions firm.

And it’s not just companies that are on the lookout to hire gig workers, individuals are also inclined to pursue gig work. The CIEL, which surveyed more than 400 organisations pan-India across sectors and more than 1200 white collar gig workers, reveals that 38% of gig workers choose such jobs due to ‘flexibility’ in working on different projects. “The allure of diverse assignments allows gig workers to continuously expand their skill set, gain valuable experience across various industries, and pursue their passion for diverse work opportunities,” says the CIEL report.

The Imperatives

The gig economy is continuously evolving and has seen 93% growth since Jan 2023 in the white-collar space as of July 2023. As per reports, 40% of companies are facing talent shortages for emerging skills.

“The emerging demand for certain niche skills, and the need to bridge the temporary skill gaps has led to the overall growth of the gig economy,” says Sekhar Garisa, CEO, foundit.

As per a Niti Aayog report titled ‘India’s Booming Gig and Platform Economy,’ the Indian gig workforce is expected to swell to 23.5 million workers by the year 2029-30, which is almost a 200% jump from the current 7.7 million.

However, it’s important to understand the reasons behind the sudden uptick, both from companies’ side as well as from the workers’ perspective.

As festivities inch closer, companies, especially in e-commerce and logistics, brace for an explosion in orders. Hiring gig workers allows these companies to efficiently navigate this temporary demand spike.

Nirupama notes that cost savings also play a crucial role. “Employing gig workers facilitates companies to bypass costs associated with permanent employees, such as benefits and long-term commitments.”

On the other hand, workers look at the festive season as an opportunity for lucrative endeavours. Many seek roles during this period for the prospect of earning a higher income in a short span.

“The temporary nature of these jobs provides flexibility, allowing workers to choose assignments based on their convenience and availability,” adds Nirupama.

However, it is essential to underscore that being a part of the gig economy is an uphill battle in itself. The uncertain nature of their employment that comes with unstable income, lack of stability and predictability and fluctuating work hours are some significant challenges that the workers face. Moreover, most gig workers do not have access to essential benefits such as health insurance, retirement plans, and paid leave.

Nirupama says that while the landscape provides autonomy, the absence of a concrete employment relationship can sometimes lead to discrepancies in roles and expectations. “It’s crucial to navigate this space with awareness,” she suggests.

India Still Lacks in Women Entrepreneurs Despite Economic Progress

India ranks 71 out of 154 countries in terms of female entrepreneurial activity. IMF suggests a 5% boost in global GDP with increasing women’s participation in entrepreneurship.

India, the land where Goddesses are regarded as mothers, where women are regarded as sisters, where traditions and diversity weave a rich tapestry of culture and respect, where ancient wisdom and modern aspirations converge to shape a vibrant and ever-evolving nation, also where women are faced with traditional and contemporary challenges yet working together to rewrite the narrative of their empowerment and equality.

Mostly, across India, women are ridiculed as the ‘home minister’, a term which men have curated to glorify the efforts of their female counterparts at home but might have forgotten to dignify their roles and contributions in the broader society, in the workplace.

Gender Disparities in Entrepreneurship: A Stark Reality

According to the Global Entrepreneurship Monitor (GEM) 2022/2023 report, India ranks 71 out of 154 countries in terms of female entrepreneurial activity. This means that only 16.1% of women in India are engaged in entrepreneurial activity, compared to 24.6% of men. Also, the Sixth Economic Census of India, conducted in 2014, found that just 13.76% of businesses in India were owned by women.

Dr. Rabiaah Bhatia, Founder, eD WebStudio Channel, admitted that India’s growth story is an incredible one, “but the unfortunate truth is that it has left behind a key demographic component: women”. She shared that societal beliefs and cultural norms are major stumbling blocks for women.

“Women are assumed to be primary caregivers, making professional work, especially outside the home, secondary. It is far from easy to juggle running a household and a business at the same time, even if domestic workers are brought into the picture. Moreover, social permission to work is often tough to obtain due to cultural practices and safety considerations. Together, this leads to reduced mobility, and in turn, reduced likelihood of becoming successful startup founders,” Dr. Bhatia added.

She also stated that, although there is a wind of change blowing today with women-led unicorns, still there is a lack of inspirational role models in terms of successful women-led businesses, making it difficult for them to visualize what success looks like.

The Funding Challenge

A 2022 study by the World Bank found that women entrepreneurs in India are more likely to be denied access to loans than male entrepreneurs. The study also found that women entrepreneurs who are able to secure loans tend to pay higher interest rates than male entrepreneurs.

Nirupama VG, Founder, AdAstra Consultants, said, “Fundraising, inherently a daunting endeavor, often presents challenges for female entrepreneurs in India. The World Economic Forum study tells some numbers: Female entrepreneurs secured 5.2% of the outstanding credit offered by Indian public sector banks. Even more, only 0.3% of India’s venture capital funding was allocated to women-led startups in 2021, leading to an unmet credit gap exceeding $11.4 billion for women-led businesses.”

Another study by the International Labour Organization in 2021 found that women entrepreneurs in India are more likely to face gender stereotypes and discrimination than male entrepreneurs. The study reflected that women entrepreneurs are often stereotyped as being less capable than men entrepreneurs and are less likely to be taken seriously by investors and customers.

Nirupama expressed that being a woman entrepreneur is a journey of confronting multifaceted challenges. “While it’s tough to pin down the ‘biggest’ challenge, what stands out is the pressure to reconcile traditional gender roles with the demands of a growing business,” she added.

The Indian entrepreneurial ecosystem, although rapidly evolving, still retains remnants of a mindset that is less welcoming to women. Sectors that are perceived as ‘women-friendly’ are limited, and the lack of institutional and societal support intensifies the challenge.

Also, in 2020, a report from the Global Entrepreneurship Monitor underscored the significant disparity in access to support networks and mentorship between female and male entrepreneurs in India. Female entrepreneurs, it revealed, frequently experience isolation and a lack of the vital support systems that are crucial for success.

Strategies for Women Entrepreneurs

Dr. Malini Saba, a multifaceted entrepreneur and philanthropist, and Founder and Chairman of Anannke Foundation mentioned that a multi-pronged strategy is required to address this issue, including cultural attitude changes, laws supporting gender equality, and programmes that give women access to education, mentorship, and financial support.

Based on her experience as a businesswoman, psychologist, and advocate for women and girls, Dr. Saba recommended aspiring women entrepreneurs to:

Have Self-assurance: Have confidence in your abilities and objectives. Self-assurance is crucial for overcoming obstacles and persevering in the face of difficulties.
Keep Upgrading: Invest in obtaining the education and training you need to become an expert in your chosen area. Success is attainable through ongoing learning.
Establish a Support System: Surround yourself with mentors and advisors who can guide you toward success. Find other female business owners who can inspire you and provide advice.
Develop Resilience: Failures and setbacks are common when starting a business. Develop resiliency and the ability to learn from these experiences.
Gender Stereotypes: Challenge gender stereotypes and resist letting society’s expectations dictate your career. Push boundaries and challenge gender preconceptions in your chosen field.
Financial Literacy: Have a good understanding of your company’s finances. This includes creating a budget, making financial plans, and, if required, obtaining funds.
Well-being: Strive for a healthy work-life balance and practice self-care. Maintaining one’s physical and emotional well-being requires practicing self-care.
Promote Gender Equality: Promote gender equality in your field and neighborhood. Make use of your platform to uplift and encourage other women.
Adapt and Innovate: In the fast-paced corporate environment, innovation, and the capacity to adapt are essential. Observe industry trends and remain receptive to fresh concepts.
Give Back: As you achieve success, think about supporting efforts that empower other women and girls or giving back to your community.

Nonetheless, as Nirupama stated, it is not just about securing a seat at the table; it is often about advocating for one’s worth in an ecosystem that often undervalues the perspectives and potential of women entrepreneurs. Such disparities are not just statistics; they narrate stories of perseverance, adaptability, and determination of women who’ve succeeded against the odds. We must champion a shift that goes beyond acknowledging these disparities, prioritizing inclusion, and equitable support for such leaders.

Jaya Mehrotra, Founder of Women Leadership Circle, stated that as we witness a shift towards greater diversity and inclusion, women need to actively seize these opportunities. She also mentioned that networking plays a pivotal role in this journey. Building connections with successful entrepreneurs, both men and women, can provide invaluable guidance, open doors to partnerships, and foster collaborations.

Furthermore, a study by the International Monetary Fund suggests that there can be a 5% boost in the global GDP with the increasing participation of women in entrepreneurship. However, the road to achieving gender equality in entrepreneurship in India is undoubtedly a challenging one. Despite the rich cultural heritage and the strength of Indian women, there are systemic and societal barriers that continue to impede their progress in the entrepreneurial space.

Drafting the Dream Team: Building Synergy in Business Teams

Great teams, whether in sports or business, are crafted with thoughtfulness, balanced with distinct roles, and led with impactful leadership. A look at some sports teams can provide insights for assembling and nurturing such teams.

Spotlight on Sports Teams

Team synergy isn’t confined to boardrooms; it’s also vibrant in sports. Consider the Real Madrid football team, which displayed remarkable synergy in the Champions League, a celebrated tournament gathering Europe’s top football clubs. It clinched back-to-back titles thrice, a testament to their collaborative and adaptive approach. This approach, emphasising both individual talent and collective effort, was a hallmark of their success. Real Madrid’s journey underscores the role of unity and impactful leadership, a lesson for fostering synergy in business teams.

Another illustration of team dynamics comes from the cricket field, where the Australian cricket team clinched the World Cup thrice consecutively from 1999 to 2007. This team was known for its balanced selection of players, where each individual played a set role, working towards the goal of victory, showcasing a blend of leadership and teamwork, akin to a well-oiled machine.

Translating Sports Synergy to Business Success

In the corporate world, teams have emulated this sports-like synergy, making a mark on their performance. An article from the HBR explores how cultural diversity can benefit global teams, fostering team collaboration, a facet mirrored in diverse sports teams too.

NBA coach Phil Jackson once remarked, “The strength of the team is each individual member. The strength of each member is the team.” This complements the insights from a Deloitte report that highlights how people analytics can foster better outcomes for employees and businesses alike. Likewise, a McKinsey report accentuates that effective performance management can enhance the overall performance of both employees and organisations.

Building and Nurturing Teams

When it comes to strategies employed in team assembly and nurturing, a comparison between the approaches used by both the teams would provide data. This comparison would dive into how assembling a team with defined roles and nurturing individual talents can pave the way for achieving overarching goals.

Creating a dream team isn’t just about gathering individuals with expertise; it’s about fostering a culture where collaboration and synergy thrive. By looking at the success stories from the sports world, business leaders can derive valuable lessons on team building and leadership.

The Playbook of Champions: Leadership Lessons from Captains

The worlds of sports and business often collide in the principles they embody. The way cricket or football captains drive a team to victory can have many parallels to how business leaders steer teams towards success. By looking at these principles in-depth, there’s much we can learn.

Sports and its Iconic Leaders
Few figures in cricket have captured the imagination of India like MS Dhoni. Having captained the Indian cricket team from 2007-2018, his record speaks for itself. Under his leadership, India secured victories in 110 out of 200 ODI matches, boasting a win-loss ratio of 1.48 and a winning percentage of 55.00% according to ESPN Sports statistics.

Beyond the statistics, Dhoni was known for his cool demeanour, decision-making skills under pressure, and ability to inspire and motivate the team. Similarly, in the corporate world, leaders often face situations where tough decisions are required amidst challenges. Maintaining composure, like Dhoni, can be pivotal in these moments.

It’s More Similar Than You Think
Despite the lack of case studies drawing parallels between sports and business leadership, the lessons are evident. A report from Harvard Business Review (HBR) suggests that the best leaders act as coaches. They care for their teammates, align people with the organisation’s vision, and also challenge and guide them towards their potential. Such principles aren’t just confined to boardrooms; they’re prevalent on sports pitches across the world.

The world’s ever-changing dynamics require leaders to be versatile. As per another HBR report, successful leaders are those who can adapt and respond to change with a diverse set of skills. Versatility is a trait seen in both iconic sports captains and business leaders.

Bridging Sportsmanship and Business Leadership
Furthermore, an Emerald Insight article highlights how sports leadership behaviours, such as teamwork, motivation, and people management, mirror business leadership behaviours. Sports coaches often act as role models for business managers, symbolising the parallels between the two domains.

The playbook of champions isn’t just about winning matches; it’s about cultivating a mindset, a determination, and an approach that can transcend the boundaries of a field. By adopting the principles and strategies used by sports captains, business leaders can foster a culture of excellence, camaraderie, and success.

Redefining recruitment in 2023: The need for rethinking hiring models

The future of recruitment demands innovation, adaptability, and a commitment to creating inclusive, ethical, and engaging hiring experiences for candidates. Here’s why there is a need to rethink hiring models in 2023.

In 2023, the landscape of recruitment and hiring has undergone a remarkable evolution, reshaping the way organisations acquire talent. The technology industry stands out as a beacon of growth, driven by remote work, digital transformation, and the pursuit of emerging technologies like AI and IoT.

This industry’s insatiable demand for tech talent reflects a broader trend – technology is no longer just an enabler but has become a critical business driver, disrupting traditional models across all sectors.

This article explores the pressing need to redefine recruitment in 2023 and the imperative of rethinking hiring models.

“The rise of contract professionals and interim managers offers businesses greater flexibility in meeting short-term objectives, opening doors to various industries and projects,” said Pranshu Upadhyay regional director head of India Technology Practice – Michael Page.

“Company culture has emerged as a driving force in boosting productivity, emphasising talent development, engagement, training, and development.” He further added.

Importantly, work-life balance has taken center stage, emerging as the most significant influencer of job satisfaction, surpassing pay, training, development, free lunches, gym memberships, and other benefits.

“Hybrid working models will continue, redefining workplace expectations, and flexibility will remain a non-negotiable factor for job seekers,” he explained.

IMPACT OF TECHNOLOGY

Advancements in technology have transformed every aspect of recruitment. AI-driven tools, such as chatbots and applicant tracking systems, have streamlined the hiring process. To stay competitive, organisations must leverage these innovations while ensuring that the human touch remains a crucial part of recruitment.

SKILL BASED HIRING

“Recruitment in 2023 demands a departure from the traditional one-size-fits-all approach. Instead, there’s a pressing need for industry-specific recruitment models that cater to the unique dynamics of each sector,” said Nirupama VG – MD, Ad Astra Consultants.

WAR OF TECHNOLOGY

Top talent remains in high demand, making the competition fierce. In 2023, businesses must adopt a proactive approach to talent acquisition. Building strong employer brands, engaging in a continuous talent pipeline, and offering competitive compensation packages are key strategies to attract the best candidates.

In an era of diverse workforce needs and fast-paced industry changes, recruitment strategies must be as adaptable and dynamic as the sectors they serve.

DATA-DRIVEN DECISION MAKING

Data analytics is revolutionising recruitment. HR professionals can now use data to make informed hiring decisions, predict candidate success, and continuously improve their hiring processes. Companies must invest in data analytics capabilities to stay ahead in recruitment.

As we navigate the dynamic landscape of 2023, redefining recruitment is not an option but a necessity.