Author: Admin Ad Astra

In the dynamic landscape of India’s workforce, women returning to work after maternity leave face a unique set of challenges and opportunities. As India strides towards empowering its female workforce, understanding and supporting the transition from maternity leave back to the career ladder is crucial. This article explores the current landscape, policy support, and practical solutions to enable women to thrive professionally post-maternity.

The State of Maternity Returnees in the Indian Job Market

India is seeing a progressive shift in accommodating returning mothers in the workforce. With legal maternity rights extending up to 26 weeks of paid leave imposed by the Maternity Benefit Act, the foundation is set for supporting women’s career continuity. Additionally, returnship programs are gaining momentum, offering a bridge back to full-time work. Despite these advances, women encounter hurdles like limited opportunities and entrenched work cultures, exacerbated by the pandemic’s economic fallout. Nonetheless, flexible work policies and a growing recognition of women’s contributions are paving the way for a more inclusive job market.

Policies Aiding Women’s Post-Maternity Career Resurgence

The Indian government’s Maternity (Amendment) Bill, 2017, is a landmark step, enhancing maternity benefits and encouraging women to return to work after childbirth. Furthermore, initiatives like the Skill India Mission are instrumental in equipping women with the necessary skills and confidence. These policies are not mere formalities but essential tools in breaking down barriers and creating a supportive environment for women eager to resume their professional journeys.

Addressing the Post-Maternity Return to Work Challenges

Returning to work post-maternity is fraught with challenges, from skill gaps to workplace integration. However, the solution lies in a multifaceted approach: upskilling programs during career breaks, supportive returnship initiatives, and a corporate culture that values flexibility and inclusivity. Employers play a pivotal role in facilitating this transition, offering phased returns and ensuring a supportive environment for new mothers.

By addressing these key areas, India can create a more supportive ecosystem for women returning to work after maternity leave, enabling them to climb the career ladder with confidence and success.

Triumphs of Tenacity

Inspiration can be drawn from numerous women across India who have successfully navigated the transition back to their careers post-maternity. These women have leveraged returnship programs, embraced continuous learning, and utilized networking to regain their professional standing. For instance, many have found success by being open about their career gaps, focusing on their enhanced skills, and the unique perspectives they bring as working mothers. Such stories not only motivate but also shed light on the effective strategies that can be employed to overcome common hurdles, demonstrating that with the right support and determination, career advancement post-baby is very much attainable.

Expert Guidance for Maternity Returnees

HR professionals and career coaches provide a wealth of advice for women looking to advance their careers after a maternity break. They emphasize the importance of not quitting the job but rather negotiating maternity benefits and a flexible return. Preparation for multitasking and reevaluating career paths during the break can provide new directions and opportunities. Engaging in continuous learning, seeking mentorship, and maintaining professional networks are also key strategies recommended by experts. Moreover, embracing the career gap and transparently communicating with employers about the need for flexibility or part-time arrangements can lead to more successful reintegration into the workforce.

Shaping a Supportive Future for Post-Maternity Career Paths

The journey from maternity leave back to the career ladder in India is evolving, with more supportive policies, inspiring success stories, and expert advice guiding the way. Women returning to work post-maternity in India today have more resources and support than ever to help them navigate this transition. While challenges remain, the collective efforts of individuals, organisations, and policymakers are creating a more enabling environment for women to resume their careers and aspire for growth post-baby. As society continues to shift towards more inclusive work cultures, the path for returning mothers will become smoother, fostering a workforce that is diverse, resilient, and vibrant.

As India sets its sights on becoming a developed nation by 2047, the economic blueprint laid out in Budget 2024 emerges as a cornerstone for this journey. The budget’s strategic investments and fiscal strategies are designed to propel the nation towards this goal, addressing key sectors and laying the groundwork for a robust, inclusive, and sustainable economy.

Economic Growth Projections and Key Sectors

India’s trajectory towards becoming a developed country is underscored by economic growth projections. With aspirations for the per capita income to soar, India eyes a future where its GDP growth, driven by the services sector and a burgeoning manufacturing base, aligns with a middle-income demographic and a vibrant, world-leading working-age population according to a report by Statista. Budget 2024’s significant capital expenditure outlay for infrastructure underscores a commitment to enhancing logistics efficiency and supporting the PM Gati Shakti initiative, pivotal for economic agility as highlighted in PIB Press Release.

Infrastructure and Technology Investments

Acknowledging the role of infrastructure and technology, Budget 2024 earmarks substantial investments for modernisation and development. This foresight is evident in the allocation of economic corridors and the enhancement of the nation’s digital and telecommunications backbone, crucial for fostering an environment ripe for innovation and efficiency.

Social and Human Capital Development

At the heart of India’s developmental agenda is the enhancement of its human capital. The budget’s focus on education, skill development, and healthcare through substantial allocations and initiatives like the Skill India Mission is a testament to the nation’s resolve to prepare a workforce that is not only large but skilled, adaptable, and ready for the challenges of a digital economy.

Fiscal Strategies for Sustainable Growth

Sustainable economic growth is the budget’s linchpin, with an increased capital expenditure outlay signalling a clear intent to fuel job creation and economic expansion. The strategic management of the fiscal deficit, alongside fostering an attractive environment for FDI, reflects a balanced approach to achieving financial stability while encouraging domestic and foreign investments.

Incentives for Innovation and Industry

Innovation and industrial growth receive a significant boost, with Budget 2024 laying down incentives for sunrise technologies and the deep-tech sector. The PLI scheme stands out as a game-changer, aiming to make India a global manufacturing powerhouse and reduce dependency on imports according to a report from Insights on India.

Environmental Sustainability and Green Economy

Embracing the global shift towards sustainability, the budget aligns India’s economic ambitions with environmental stewardship. Investments in green energy, electric vehicles, and bio-manufacturing not only pave the way for a green economy but also position India as a leader in sustainable development.

Budget 2024 is more than a fiscal document; it’s a visionary roadmap for India’s future. By aligning economic strategies with long-term goals, it lays a solid foundation for India to achieve developed nation status by 2047. As we delve into the specifics of this budget, it becomes clear that the path ahead is both ambitious and achievable, with investments, innovation, and sustainability at its core. This journey, while challenging, is filled with the promise of a brighter, developed India, making it a pivotal moment in the nation’s history.

The interim budget proposal for 2024 showcases a positive roadmap for India’s progress, reaffirming the government’s unwavering commitment to fostering sustainable economic growth, stability, and inclusivity. The budget’s fiscal strategies and reforms are aimed at enhancing the economy’s long-term growth potential. These initiatives are expected to yield substantial economic benefits and position India as a substantial contributor to the global economic landscape.

Capital Expenditure and Fiscal Health

The strategic increase in capital expenditure to Rs 11,11,111 crore underscores the government’s commitment to spurring economic growth and creating employment opportunities according to a report by the Ministry of Finance. This move, targeting an expansion to 3.4% of GDP, is expected to generate a significant multiplier effect, catalysing development across various sectors. Furthermore, maintaining a fiscal deficit of 5.1% of GDP strikes a balance between stimulating growth and ensuring fiscal prudence, showcasing a clear pathway to financial health and stability.

Boosting Foreign Direct Investment

The inflow of FDI, amounting to USD 596 billion over the past decade, highlights the growing confidence of global investors in India’s economic potential. This influx is a testament to the government’s successful efforts in creating an attractive investment landscape, crucial for sustaining long-term growth and innovation.

Incentivising Innovation and Industrial Growth

Budget 2024 sets a new precedent for supporting innovation, R&D, and industrial expansion. The allocation of a significant corpus for research in sunrise domains, alongside substantial funding for IT and telecommunications, marks a strategic move to position India at the forefront of technological advancement according to a study by Forbes India. The PLI scheme, specifically, emerges as a cornerstone policy, designed to boost manufacturing and promote self-reliance, further reducing import dependency and enhancing export capabilities.

Promoting Environmental Sustainability

In alignment with global sustainability goals, Budget 2024 emphasises India’s transition to a green economy. Initiatives supporting offshore wind energy, compressed biogas blending, and viability gap funding for green hydrogen technology illustrate a firm commitment to environmental stewardship. The focus on rooftop solarization and the advancement of bio-manufacturing highlight the budget’s role in fostering sustainable practices across industries according to a report by Invest In India.

Challenges and Solutions for a Green Transition

The transition to a green economy and achieving developed nation status necessitates addressing several challenges, including skill gaps, employment opportunities, and ensuring equitable growth. The budget’s focus on skill development, digital infrastructure, and healthcare signifies a holistic approach to overcoming these hurdles, preparing India’s workforce for future demands and ensuring a healthy, educated population ready to contribute to and benefit from economic growth.

Budget 2024 lays down a comprehensive framework for India’s developmental aspirations, merging economic vigour with sustainability and innovation. By prioritising fiscal health, encouraging FDI, fostering innovation, and committing to environmental sustainability, the budget not only aims for economic growth but also for the holistic development of the nation. As India strides towards its goal of becoming a developed country by 2047, the policies and investments of today will undoubtedly pave the way for a prosperous and sustainable tomorrow. The journey is fraught with challenges, but with strategic planning and execution, India is well on its path to realising its vision.

In the dynamic landscape of India’s workforce, women returning to work after maternity leave face a unique set of challenges and opportunities. As India strides towards empowering its female workforce, understanding and supporting the transition from maternity leave back to the career ladder is crucial. This article explores the current landscape, policy support, and practical solutions to enable women to thrive professionally post-maternity.

The State of Maternity Returnees in the Indian Job Market

India is seeing a progressive shift in accommodating returning mothers in the workforce. With legal maternity rights extending up to 26 weeks of paid leave imposed by the Maternity Benefit Act, the foundation is set for supporting women’s career continuity. Additionally, returnship programs are gaining momentum, offering a bridge back to full-time work. Despite these advances, women encounter hurdles like limited opportunities and entrenched work cultures, exacerbated by the pandemic’s economic fallout. Nonetheless, flexible work policies and a growing recognition of women’s contributions are paving the way for a more inclusive job market.

Policies Aiding Women’s Post-Maternity Career Resurgence

The Indian government’s Maternity (Amendment) Bill, 2017, is a landmark step, enhancing maternity benefits and encouraging women to return to work after childbirth. Furthermore, initiatives like the Skill India Mission are instrumental in equipping women with the necessary skills and confidence. These policies are not mere formalities but essential tools in breaking down barriers and creating a supportive environment for women eager to resume their professional journeys.

Addressing the Post-Maternity Return to Work Challenges

Returning to work post-maternity is fraught with challenges, from skill gaps to workplace integration. However, the solution lies in a multifaceted approach: upskilling programs during career breaks, supportive returnship initiatives, and a corporate culture that values flexibility and inclusivity. Employers play a pivotal role in facilitating this transition, offering phased returns and ensuring a supportive environment for new mothers.

By addressing these key areas, India can create a more supportive ecosystem for women returning to work after maternity leave, enabling them to climb the career ladder with confidence and success.

Triumphs of Tenacity

Inspiration can be drawn from numerous women across India who have successfully navigated the transition back to their careers post-maternity. These women have leveraged returnship programs, embraced continuous learning, and utilized networking to regain their professional standing. For instance, many have found success by being open about their career gaps, focusing on their enhanced skills, and the unique perspectives they bring as working mothers. Such stories not only motivate but also shed light on the effective strategies that can be employed to overcome common hurdles, demonstrating that with the right support and determination, career advancement post-baby is very much attainable.

Expert Guidance for Maternity Returnees

HR professionals and career coaches provide a wealth of advice for women looking to advance their careers after a maternity break. They emphasize the importance of not quitting the job but rather negotiating maternity benefits and a flexible return. Preparation for multitasking and reevaluating career paths during the break can provide new directions and opportunities. Engaging in continuous learning, seeking mentorship, and maintaining professional networks are also key strategies recommended by experts. Moreover, embracing the career gap and transparently communicating with employers about the need for flexibility or part-time arrangements can lead to more successful reintegration into the workforce.

Shaping a Supportive Future for Post-Maternity Career Paths

The journey from maternity leave back to the career ladder in India is evolving, with more supportive policies, inspiring success stories, and expert advice guiding the way. Women returning to work post-maternity in India today have more resources and support than ever to help them navigate this transition. While challenges remain, the collective efforts of individuals, organizations, and policymakers are creating a more enabling environment for women to resume their careers and aspire for growth post-baby. As society continues to shift towards more inclusive work cultures, the path for returning mothers will become smoother, fostering a workforce that is diverse, resilient, and vibrant.

In the aftermath of Budget 2024, an examination of our education system’s alignment with the evolving job market is imperative. As we stand on the brink of technological transformations, the need for an education framework that imparts academic knowledge, practical skills, and digital literacy has never been more acute.

Emerging Trends and the Educational Response

The rise of generative AI, digital jobs, remote work, and green jobs underscores a shift towards a future where adaptability, innovation, and technological proficiency will be key. This is also highlighted by the World Economic Forum’s report. Budget 2024’s focus on boosting private investment in sunrise technologies, supporting sustainable tech, and propelling the defence sector into the deep-tech realm signals the government’s intention to prime the economy for these fields.

However, this forward-looking budget highlights a gap in our current educational offerings. Graduates, including those with prestigious degrees, often find themselves at a disadvantage, lacking the industry exposure, technical expertise, and soft skills required in today’s job market. This misalignment not only impacts their employability but also the broader aim of nurturing a workforce capable of leading in a tech-driven future.

Bridging the Gap

To bridge this gap, integrating reskilling initiatives and practical skills training into the academic curriculum is non-negotiable. Institutions like AJK MCRC, Jamia Millia Islamia, have begun acknowledging this necessity. Take Faizan, a journalism graduate, who realised the importance of digital literacy and practical experience early on. “In college, we were encouraged to explore beyond traditional journalism. This approach helped me adapt quickly in my first job, where digital content creation was key,” shares Faizan, underscoring the benefit of foresight in education.

Moreover, successful models like the World Economic Forum’s Reskilling Revolution offer a blueprint for educational reform. This initiative, with India as a founding government, aims to equip a billion people with new skills by 2030, proving that large-scale change is both necessary and achievable.

The Role of Higher Education

For higher education to meet tomorrow’s job market demands, a dual approach is required: First, curricula must evolve to include real-world problem-solving, digital tools training, and sustainability practices. Second, partnerships between educational institutions and industries should be strengthened to facilitate practical experience through internships and on-campus projects.

The journey to realigning education with the job market of the future is fraught with challenges but also brimming with opportunity. By fostering an educational environment that values practical experience as much as academic achievement, we can prepare graduates who are not just job-ready but future-ready. As we move forward, the experience of students like Faizan should become the norm, not the exception, ensuring that the next generation of professionals is equipped to navigate and lead in the new landscape.

India, with its burgeoning population and progressive economic strategies, is emerging as a potential global labour capital. Key demographic and economic factors, coupled with targeted skill development initiatives and conducive government policies, are aligning to position India at the forefront of the global market.

Demographic and Economic Advantages

SPG Global highlights India’s demographic dividend as a key advantage. With a population exceeding 1.4 billion, India not only boasts the world’s largest youth population but also a massive labour force of over 678.6 million people. This demographic scenario, especially when juxtaposed with global labour shortages, places India in an enviable position. The Skill India Campaign is instrumental in harnessing this human resource potential, annually upskilling nearly 10 million youth. Additionally, increasing female workforce participation, currently at 24%, is pivotal for future growth.

Skill Development and Education Reforms

The Skill India Campaign and the Ministry for Skill Development and Entrepreneurship (MSDE) are at the heart of India’s skill development endeavours. According to a Nabard report, MSDE aims to train over 400 million people in various skills. The improvement in formal vocational/technical training, as evidenced by the Periodic Labour Force Survey (PLFS) FY21, indicates progress in equipping the Indian workforce with the necessary skills.

Government Policies and Global Economic Trends

India’s Ease of Doing Business (EoDB) focus and the Production Linked Incentive (PLI) Scheme are reshaping its economic landscape. These policies aim to make India a global manufacturing hub, attracting international investments. Globally, demographic changes, urbanisation, and the unique position of the Indian economy as a fast-growing entity amidst a global economic slowdown further enhance its prospects as a labour capital.

Overcoming Challenges

Despite these advantages, India faces challenges such as a lack of employment opportunities, job discrepancies, skill gaps, low female labour force participation, and regulatory hurdles. Addressing these requires a multifaceted approach, including further skill development, policy reforms, financial-sector reforms, socioeconomic inclusion, and support for MSMEs. These strategies could potentially transform India’s labour market, making it more inclusive and efficient.

India’s journey to becoming a global labour capital is not without its challenges. However, with its vast labour force, focused skill development initiatives, and supportive government policies, India is well on its way to realising this potential. As the nation continues to navigate and adapt to these challenges, it stands poised to redefine its role in the global labour landscape, harnessing its demographic dividend for sustainable economic growth.

India’s labour landscape is undergoing a significant transformation. The introduction of new labour code reforms represents a shift, aimed at modernising and streamlining labour regulations. These changes are set to have far-reaching implications for the workforce and industries across the nation.

Key Changes 

The reforms consolidate 29 existing labour laws into four distinct Codes, simplifying labour laws significantly. Notable changes include the adjustment of establishment size thresholds, increased limits for layoffs and retrenchments, and improved enforcement mechanisms. The Industrial Relations Code, for instance, raises the threshold for requiring government permission for layoffs in establishments with 300 or more workers and introduces provisions for the recognition of unions and fixed-term employment. Additionally, these reforms universalise minimum wages and emphasise the timely payment of wages, prioritising workers’ occupational safety.

Impact on Employment and Workforce Dynamics

A study by Mondaq suggests that these labour codes could greatly facilitate ease of doing business in India. While there might be a reduction in take-home salaries in some cases, the overall impact on provident fund contributions and social security benefits is expected to be positive. This shift may initially pose a financial burden on employers but is anticipated to contribute to a healthier working environment and spur economic growth.

Comparative Analysis with International Standards

India’s alignment with International Labour Organization (ILO) standards plays a crucial role in these reforms. As a founder member of the ILO, India has been active in shaping and benefiting from international labour standards. The country has ratified significant conventions like the Tripartite Consultation (International Labour Standards) Convention and the Minimum Age Convention, ensuring its labour laws are in harmony with global practices.

Industry-Specific Effects

Different sectors, such as manufacturing and IT, are poised to benefit differently from these reforms. For example, the manufacturing sector, including sub-sectors like garments, apparel, and electronics, is expected to see reduced administrative burdens and enhanced industrial flexibility. This could ease the process of doing business. In the IT sector, the reforms introduce a range of changes to streamline compliance and support the sector’s growth in the context of a rapidly evolving global economy.

India’s new labour code reforms are a step towards modernising its workforce dynamics and aligning with international labour standards. While the transition may present initial challenges, the long-term benefits for both employees and employers are clear. These reforms not only promise to improve working conditions and enhance job security but also strengthen India’s position in the global economic arena.

India, with its burgeoning population and progressive economic strategies, is emerging as a potential global labour capital. Key demographic and economic factors, coupled with targeted skill development initiatives and conducive government policies, are aligning to position India at the forefront of the global market.

Demographic and Economic Advantages

SPG Global highlights India’s demographic dividend as a key advantage. With a population exceeding 1.4 billion, India not only boasts the world’s largest youth population but also a massive labour force of over 678.6 million people. This demographic scenario, especially when juxtaposed with global labour shortages, places India in an enviable position. The Skill India Campaign is instrumental in harnessing this human resource potential, annually upskilling nearly 10 million youth. Additionally, increasing female workforce participation, currently at 24%, is pivotal for future growth.

Skill Development and Education Reforms

The Skill India Campaign and the Ministry for Skill Development and Entrepreneurship (MSDE) are at the heart of India’s skill development endeavours. According to a Nabard report, MSDE aims to train over 400 million people in various skills. The improvement in formal vocational/technical training, as evidenced by the Periodic Labour Force Survey (PLFS) FY21, indicates progress in equipping the Indian workforce with the necessary skills.

Government Policies and Global Economic Trends

India’s Ease of Doing Business (EoDB) focus and the Production Linked Incentive (PLI) Scheme are reshaping its economic landscape. These policies aim to make India a global manufacturing hub, attracting international investments. Globally, demographic changes, urbanisation, and the unique position of the Indian economy as a fast-growing entity amidst a global economic slowdown further enhance its prospects as a labour capital.

Overcoming Challenges

Despite these advantages, India faces challenges such as a lack of employment opportunities, job discrepancies, skill gaps, low female labour force participation, and regulatory hurdles. Addressing these requires a multifaceted approach, including further skill development, policy reforms, financial-sector reforms, socioeconomic inclusion, and support for MSMEs. These strategies could potentially transform India’s labour market, making it more inclusive and efficient.

India’s journey to becoming a global labour capital is not without its challenges. However, with its vast labour force, focused skill development initiatives, and supportive government policies, India is well on its way to realising this potential. As the nation continues to navigate and adapt to these challenges, it stands poised to redefine its role in the global labour landscape, harnessing its demographic dividend for sustainable economic growth.

India’s labour landscape is undergoing a significant transformation. The introduction of new labour code reforms represents a shift, aimed at modernising and streamlining labour regulations. These changes are set to have far-reaching implications for the workforce and industries across the nation.

Key Changes 

The reforms consolidate 29 existing labour laws into four distinct Codes, simplifying labour laws significantly. Notable changes include the adjustment of establishment size thresholds, increased limits for layoffs and retrenchments, and improved enforcement mechanisms. The Industrial Relations Code, for instance, raises the threshold for requiring government permission for layoffs in establishments with 300 or more workers and introduces provisions for the recognition of unions and fixed-term employment. Additionally, these reforms universalise minimum wages and emphasise the timely payment of wages, prioritising workers’ occupational safety.

Impact on Employment and Workforce Dynamics

A study by Mondaq suggests that these labour codes could greatly facilitate ease of doing business in India. While there might be a reduction in take-home salaries in some cases, the overall impact on provident fund contributions and social security benefits is expected to be positive. This shift may initially pose a financial burden on employers but is anticipated to contribute to a healthier working environment and spur economic growth.

Comparative Analysis with International Standards

India’s alignment with International Labour Organization (ILO) standards plays a crucial role in these reforms. As a founder member of the ILO, India has been active in shaping and benefiting from international labour standards. The country has ratified significant conventions like the Tripartite Consultation (International Labour Standards) Convention and the Minimum Age Convention, ensuring its labour laws are in harmony with global practices.

Industry-Specific Effects

Different sectors, such as manufacturing and IT, are poised to benefit differently from these reforms. For example, the manufacturing sector, including sub-sectors like garments, apparel, and electronics, is expected to see reduced administrative burdens and enhanced industrial flexibility. This could ease the process of doing business. In the IT sector, the reforms introduce a range of changes to streamline compliance and support the sector’s growth in the context of a rapidly evolving global economy.

India’s new labour code reforms are a step towards modernising its workforce dynamics and aligning with international labour standards. While the transition may present initial challenges, the long-term benefits for both employees and employers are clear. These reforms not only promise to improve working conditions and enhance job security but also strengthen India’s position in the global economic arena.

In the atmosphere of the modern Indian workplace, one of the most vibrant threads is its multigenerational workforce. This diversity, while a source of strength, also presents challenges in fostering effective collaboration. Addressing these is crucial for any organisation striving to create a harmonious and productive work environment.

A study by Wharton highlights one of the primary challenges: the generational differences stemming from rapid liberalisation and globalisation, leading to differing mindsets between the younger and older generations. This gap, if not managed well, can lead to misunderstandings and conflicts within teams. Another challenge identified by the Harvard Business Review (HBR) study is the tendency to resort to stereotyping based on age, which can create divisions and hinder collaboration.

So, how can organisations in India effectively bridge this divide? The HBR suggests that managers should focus on building teams that communicate openly, respect each other’s boundaries, and ensure every voice is heard, regardless of age or seniority. This approach is critical in creating an environment where each generation feels valued and understood.

Another method is to take advantage of the unique strengths each generation brings. The younger workforce might be more tech-savvy and adaptable to change, while the older generation might bring wisdom and experience. By acknowledging and leveraging these strengths, teams can find innovative solutions to challenges.

Furthermore, a report by Deloitte Insights underscores the importance of training and development programs aimed at enhancing multigenerational collaboration. With 70% of organisations acknowledging the importance of leading such workforces, yet only 10% feeling ready to address this trend, there’s a need for targeted training programs.

To foster effective collaboration, organisations should also focus on creating shared objectives that align the team towards a common goal. This alignment helps in mitigating the focus from age-related differences and towards achieving collective success.

The generational diversity in Indian workplaces is a powerful asset that, when managed effectively, can lead to unparalleled teamwork and productivity. By embracing strategies that promote understanding and respect across generations, organisations can transform their diverse workforce into a cohesive, innovative, and dynamic entity.

In today’s fast-paced business world, innovation is not just a buzzword; it’s a necessity. One key driver of this innovation, often overlooked, is the power of age diversity within organisations. A recent article in the Harvard Business Review emphasises that generational identity should be a source of learning rather than division, offering a fresh perspective on managing age-diverse teams effectively.

The Indian workforce, with its broad age demographic, stands as a testament to this potential. A study by Statista approximates that 67.8% of India’s population is within the working-age group of 15-64 years, making it a pot of diverse experiences. This age range can be a catalyst for groundbreaking innovation, as each generation brings its unique strengths and viewpoints to the table.

However, achieving this synergy is not without its challenges. Organisations must actively work to bridge generational gaps. A study by Emerald highlighted a significant correlation between innovation performance and the diversity of management teams, with the nation of origin and generational diversity being key impact drivers.

So, how can organisations in India harness this potential? It starts with a well-articulated diversity agenda. Companies that excel in their Diversity and Inclusion (D&I) journeys often focus on creating environments where every age group feels valued and understood. This approach not only fosters innovation but also cultivates a culture of respect and collaboration.

The benefits of such an environment are tangible. An organisation’s financial and non-financial performance has been shown to significantly relate to the age diversity of its employees. This is where the strength of a multigenerational workforce lies – not just in numbers, but in the ability to leverage these experiences for better decision-making and creative problem-solving.

The diverse age groups within the workforce are not just demographic statistics; they represent a reservoir of ideas, skills, and experiences. By embracing and nurturing this diversity, businesses can unlock potential and pave the way for a more successful landscape.

As we step foot into the future of India’s economic landscape, the next decade presents a picture of growth and transformation. Fueled by a combination of demographic advantages, sector-specific expansions, and labour code reforms, India stands on the cusp of becoming a global economic powerhouse. 

The United Nations World Economic Situation and Prospects 2024 report projects a 6.2% GDP growth for India in 2024, attributed to robust domestic demand and burgeoning growth in the manufacturing and services sector. Echoing this optimism, the Economic Survey 2022-23 anticipates a baseline GDP growth of 6.5% in real terms for FY24. These forecasts paint a picture of an economy that is not only recovering post-pandemic but also moving towards sustained long-term growth.

Labour Code Reforms

The consolidation of 44 central labour laws into four comprehensive codes marks a change in India’s labour landscape. These reforms, encompassing the Wage Code, Social Security Code, Occupational Safety, Health and Working Conditions Code, and Industrial Relations Code, aim to simplify compliance, ensure equity, and leverage technology for effective enforcement. By applying to all employees regardless of their role or salary (with minimal exceptions), these codes are set to create a more inclusive and efficient work environment, conducive to economic growth and workforce welfare.

Demographic Dividend

Our demographic profile provides a substantial advantage. Housing a fifth of the world’s youth population and with a median age of just 28.4 years, India’s youthful energy is its asset. The declining total fertility rate (TFR) and the expected surpassing of China’s population in 2023 further underscore the potential of this dynamism in propelling economic growth.

The healthcare sector in India is on the brink of substantial growth, influenced by several critical factors. An ageing population is a key driver, with about 21% of the elderly in India reportedly having at least one chronic disease according to the National Institute of Health Report. The report also highlights that this trend is more pronounced in urban areas, where 29% of the elderly suffer from chronic conditions, compared to 17% in rural regions. Hypertension and diabetes are the most common, accounting for about 68% of these chronic diseases. Alongside this, increasing disposable incomes are enabling more individuals to seek advanced healthcare services.

The impact of the COVID-19 pandemic cannot be understated; it has highlighted the need for robust healthcare infrastructure and services. This realisation has catalysed investments in the sector, not just to meet the growing domestic health demands but also to elevate India’s stature in the global healthcare industry. As a result, India is steadily positioning itself as a player in international healthcare, capable of meeting health needs with its capabilities.

Renewable Energy and IT Sector: Leading the Sustainable and Digital Charge

The renewable energy sector is set to witness substantial growth, aligning with the global shift towards sustainability. As the world pivots to green energy, India’s advancements in this sector could be instrumental in shaping global energy trends. Simultaneously, the IT sector continues to be the backbone of the economy, with potential for further expansion, reinforcing India’s status as a global IT hub.

Diverse Sectoral Growth from Manufacturing to Tourism

Other sectors like BFSI, automotive, retail, and travel & tourism are also expected to see increased hiring and growth, indicative of a broader economic upswing. Banks, healthcare, and energy sectors are also well-positioned for growth in 2024, aligning with global economic shifts and internal market demands.

India’s economic landscape for the next decade is marked by growth across diverse sectors, backed by demographic dividends and strategic reforms. As the nation gears up for this phase, policymakers, businesses, and the workforce must align their strategies with these trends. The amalgamation of economic reforms, sector-specific growth, and a vibrant, young workforce sets the stage for India to not just grow but also to play a role in shaping the global economic narrative in the years to come.

-Authored by Monalisa Nayak, Principal Correspondent, Ad Astra Consultants

In a world echoing the mantra ‘One Earth, One Family,’ addressing challenges in the recruitment industry for managing international hiring is crucial. Recruitment is sometimes overlooked due to a lack of understanding of its importance in fostering successful staffing processes across sectors. Therefore, recognising the role of effective recruitment is essential for nation-building and contributing to significant economic growth.

Globalisation and the Demand for Human Capital

The influence of globalisation has created a significant demand for human capital to manage global projects effectively. As the world becomes more interconnected, the need for talent with international expertise has surged. However, identifying these global talents can be challenging. In my 15 years of recruitment experience, I’ve noticed a growing trend: out of every 10 candidates engaged for global technology hiring, 6 are non-local. This underscores the necessity of looking beyond borders when filling specific roles.

Language and Cultural Proficiency Challenges

One of the significant hurdles faced by the recruitment industry in managing international recruitment is the lack of language and cultural proficiency. When considering international candidates, it is not uncommon to encounter individuals who lack fluency and understanding of the local language. Effective communication and seamless integration into the local work culture become compromised, hindering the overall efficiency and productivity of the workforce.

Strategies for Overcoming Challenges

To address these concerns, the recruitment industry needs to adopt proactive measures:

• Language and Cultural Training Programs: Encourage international candidates to participate in such programs to bridge the gap between their skills and local requirements. Such initiatives can enable them to better communicate and adapt to the workplace environment.

• Strengthening Collaborations: Foster collaborations between recruitment agencies and language institutions or cultural organisations. This partnership can facilitate the development of targeted language courses and cultural awareness programs, increasing the pool of skilled and culturally competent candidates.

• Leveraging Technology: Utilise technology in the recruitment process to overcome language barriers. This can be done through virtual translation tools or AI-driven language proficiency assessments to ensure candidates possess the necessary language skills for effective collaboration.

Acknowledging challenges like language and cultural proficiency enables the implementation of strategies to bridge these gaps, ensuring a successful global staffing process. Embracing these measures contributes not only to the growth of individual organisations but also plays a vital role in building stronger and more inclusive nations for a thriving global community.

In today’s evolving job market, the rules of the game are changing. Gone are the days when a hefty paycheck was the be-all and end-all of job satisfaction. Today, employees are looking for more – more fulfilment, more flexibility, and more opportunities for personal and professional growth. As we step into this era of talent acquisition, organisations must understand and adapt to these changing priorities.

Recent findings from PwC’s India Workforce Hopes and Fears Survey 2022 paint a picture of what Indian employees value in their jobs. According to it, the workforce places high importance on organisational trust, innovation, and hybrid working models. These preferences signal a shift, indicating that financial rewards, while still important, are no longer the sole deciding factor. Personal fulfilment now plays a pivotal role in an employee’s decision to join or leave an organisation.

The Role of Company Culture in Employee Engagement

The importance of a healthy organisational culture cannot be overstated, especially when it comes to talent retention and attraction.  A Springwork survey reveals a statistic: 32% of job seekers left a job within the first three months due to the company’s culture. This highlights the need for organisations to cultivate an environment where employees feel aligned with the company’s core values and mission. In fact, 80% of employees felt more engaged when their work resonated with these elements.

Balancing Financial and Non-Financial Incentives

While financial incentives are undoubtedly important, the impact of non-financial incentives on employee satisfaction and productivity is becoming apparent. Factors like recognition, participation, and growth opportunities have been seen to influence employee productivity and motivation. This is particularly relevant in today’s context, where the emphasis on mental well-being and professional development is at an all-time high.

In the next part of this editorial, we will delve into the global comparisons of workforce preferences, explore sector-specific trends, and examine the influence of company culture and employer branding on talent acquisition and retention in India.

Global Trends and Indian Workforce Preferences

When we compare the Indian workforce’s preferences with global trends, interesting parallels and contrasts emerge. A study by IJNRD indicated that globally the fair and equitable sharing of non-monetary benefits is gaining traction. Indian employees, mirroring this trend, are valuing aspects such as work-life balance, opportunities for innovation, and flexible working arrangements. This global-local synergy indicates a shift in workforce expectations, transcending geographical boundaries.

Sector-Specific Preferences 

Diving into the Indian landscape, we observe that employee preferences for non-monetary benefits vary across different sectors. In the technology sector, for instance, non-monetary incentives include flexible working arrangements and opportunities for professional development. Tech giants like Google have set a precedent by encouraging employees to dedicate time to personal projects, fostering a culture of creativity and innovation.

The Impact of Culture on Attraction and Retention

The influence of a company’s culture on its ability to attract and retain talent in India cannot be understated. Study by institutions like the Indian School of Development Management (ISDM) and Ashoka University’s Centre for Social Impact and Philanthropy (CSIP) have found that workplace environment and power dynamics affect employee morale. An open, people-centric culture not only attracts employees but also plays a role in retaining them.

Upskilling

In addition to fostering a positive work environment, there is a recognition of the value of upskilling existing employees. It is a cost-effective strategy compared to hiring new talent and serves to enhance employee satisfaction and loyalty. By investing in their current workforce’s growth and development, organisations not only improve their talent pool but also demonstrate a commitment to their employees’ future.

As we navigate the terrain of modern talent acquisition, it is clear that organisations need to look beyond compensation to attract and retain top talent. By understanding and responding to the changing preferences of the workforce, creating a positive and inclusive company culture, and investing in employee development, organisations can build a loyal, productive, and engaged workforce. The future of work is not just about what employees can do for their organisations, but equally about what organisations can do for their employees.

In today’s workplace environment, empowering employees to take greater ownership of their work is not just a strategy; it’s a necessity for fostering engagement and driving innovation. When employees feel empowered, they are more likely to be invested in their work and committed to the organisation’s success.

Trends in Employee Empowerment

Recent trends indicate a growing emphasis on employee autonomy. A survey by Vantage Circle reveals that 86% of employees feel more engaged when given more control over their work. This autonomy, encompassing the freedom to decide how, when, where, and with whom to work, is reshaping the traditional workplace dynamic. It reflects a shift from rigid hierarchical structures to more fluid and flexible work environments.

Impact on Engagement and Retention

Empowering employees has an impact on their engagement and retention. A study by MDPI suggests that focusing on career progression, rather than just promotions, and fostering a culture that supports career experiments can significantly enhance retention. This approach aligns with the modern workforce’s desire for meaningful and progressive career paths, rather than just climbing the traditional corporate ladder.

Best Practices for Empowerment

While the overall approach of employee empowerment encourages innovation, it’s important to recognise that not all practices yield the same results. Some may even inadvertently discourage innovation. Therefore, tailoring strategies to fit the unique needs and culture of an organisation is crucial. This might include providing opportunities for skill development, encouraging initiative and risk-taking, and fostering open and transparent communication.

Role of Human Leadership

Leadership plays a pivotal role in employee empowerment. According to a Gartner survey, 90% of HR leaders believe that focusing on the human aspects of leadership is essential in today’s work environment. This human leadership involves understanding employee aspirations, acknowledging their achievements, and providing them with the resources and support they need to succeed.

Empowering employees for greater ownership at work is a necessity in today’s corporate world. It requires a thoughtful approach, one that balances autonomy with support and innovation with structure. By embracing these principles, companies can create an environment where employees feel genuinely invested in their work, leading to higher satisfaction, better performance, and long-term success.

In an era where organisational dynamics are evolving, fostering a culture of accountability within teams has become more critical than ever. It’s not just about assigning tasks and responsibilities; it’s about creating an environment where every member feels a sense of ownership and commitment to the collective success of the company.

Creating an Ethical and Accountable Culture

A study by Harvard Business School Online highlights the significance of leadership in fostering a culture of ethics and accountability. Leaders are instrumental in setting the tone for their teams. They must lead by example, demonstrating accountability in their actions and decisions. This involves clear and frequent communication, empowering team members to make decisions, and providing timely feedback. Addressing ethical dilemmas swiftly and effectively also plays a vital role in building a culture of accountability.

Impact on Team Performance

A culture of accountability directly impacts team performance and organisational success. When team members are accountable, they understand and commit to their roles and responsibilities. This commitment leads to improved efficiency, higher quality of work, and, ultimately, better results for the organisation. Accountability ensures that every team member is aligned with the organisation’s goals, working diligently to achieve them.

Overcoming Challenges in Cultivating Accountability

One of the significant challenges in fostering accountability, as suggested by a KPMG study, is the lack of clarity in roles, responsibilities, and expectations. This confusion can lead to conflict and poor performance. To overcome this, organisations need to establish clear, measurable goals and standards for each team and individual, ensuring that these are communicated effectively.

Effective Strategies and Tools

To foster accountability, implementing a robust performance management system is crucial. Such a system involves regular feedback, recognition, and coaching. It helps team members identify their strengths and areas for improvement, learn from mistakes, and enhance their skills. Setting clear goals and expectations for each team member is also a part of this system, allowing for measurable and achievable targets.

Building a culture of accountability in modern teams is not a one-time task but a continuous process. It requires commitment from the leadership and participation of every team member. By establishing clear guidelines, fostering open communication, and implementing effective performance management systems, organisations can create a culture where accountability thrives, leading to greater success and innovation.

In the evolving landscape of Indian entrepreneurship, the emergence of women as business leaders has been nothing short of transformative. Yet, the journey to the top is fraught with challenges for women. This is where the power of mentorship shines through, acting as a beacon for aspiring entrepreneurs. The importance of a supportive community and mentorship is felt across India’s entrepreneurial ecosystem. The “Women & Entrepreneurship In India” study underscores the belief among them in the country, it highlights the collective strength of female communities and mentors. These networks are not just support systems but catalysts for innovation, growth, and success.

Nirupama V.G., Founder & MD of Ad Astra Consultants adds “Mentorship among women is a cornerstone for cultivating leaders and innovators in India’s entrepreneurial space. At Ad Astra Consultants, one of India’s largest women-led businesses, we see firsthand the ripple effect of empowered women mentoring others. Such connections do more than a guide; they build a framework for collective success and progress. It’s essential we continue to nurture these relationships, crafting a future where female entrepreneurs are not just participating, but are central to shaping the business landscape.”

The recent WISER report highlights the resilience of women entrepreneurs in India. As of 2023, they are providing direct employment to 22 to 27 million people. However, their journey is often self-navigated, with more than 90% of companies run by women being self-financed. The lack of formal mentorship structure is evident, as a portion of these enterprises remains micro in scale. Yet, the demand for mentorship is palpable, with the report revealing that 62.7% of professionals prefer upskilling programs that offer access to a mentor.

Mentorship offers more than just business counsel—it’s about breaking down deep-seated social and gender barriers, many of which are rooted in societal norms. A study by Forbes India suggests that mentorship can generate transformational employment in India, to the tune of 150–170 million jobs by 2030. This is not just about creating jobs; it’s about changing the narrative for women in business.

The Indian government, recognising the pivotal role of mentorship, launched the Women Entrepreneurship Platform (WEP), aiming to build a vibrant ecosystem for young women entrepreneurs. Reports from WEP highlight the impact of mentorship on business growth for women. From facilitating networking to providing nuanced business insights, mentorship programs are instrumental in nurturing the next generation of women leaders.

Comparatively, India’s entrepreneurial ecosystem still has strides to make in fostering female entrepreneurship. With only 14% of Indian women owning or running businesses according to an IMF study, the country lags behind the global average. This disparity underscores the need for more robust mentorship and support structures.

Looking ahead, the trajectory of female entrepreneurship in India is poised for an upward trend. The inherent resilience and adaptability of Indian women, combined with growing institutional support, set the stage for a brighter future. As more women take the entrepreneurial leap, the ripple effects of their success will be felt across the economy and society at large.

The mentorship of women by women is not just about individual success stories; it’s about crafting a narrative of collective empowerment. It’s about building a legacy that transcends the individual, one where every success story becomes a stepping stone for the next aspiring entrepreneur in India.

When the tides of global conflict rise, the ripples are felt by economies and businesses worldwide. Even for nations not directly involved in the skirmish, the intertwined nature of today’s global economy means that the repercussions are widespread. The ongoing conflicts in places like Palestine and Ukraine have shown us that businesses, irrespective of their geography, need to be prepared for the domino effects of war.

Reconfigurations in Trade Patterns

The conflict in Ukraine is an example of how global trade can be affected. The heightened tensions have shaken commodity markets according to a UNCTAD report, causing spikes in prices for essential commodities such as oil, gas, and wheat. Further, as nations impose sanctions and boycotts against Russia, there’s a shift in trade directions. Russia is now veering more towards the East, as opposed to Europe.

Stock Market Volatility

Stock markets are inherently sensitive to global events, and conflicts are no exception. The Israel-Palestine unrest, historically, has caused turbulence in global stock exchanges. More recently, the Ukraine-Russia confrontation resulted in major stock indices like the Dow Jones and S&P 500 experiencing drops.

Supply Chain Disruptions

The complexities of global supply chains mean that disruptions in one region can impact industries worldwide. The Ukraine conflict has thrown a wrench in supply chains, affecting sectors from automobiles to semiconductors and even food.

Impact on Indian Businesses

While the direct impact of the Israel-Hamas conflict on Indian businesses might seem minimal, a widespread conflict in the Middle East could change this narrative. On the brighter side, Israeli firms have made investments of around $286 million in India over a span of several years, indicating strengthening business ties, and a prolonged war can strain these monetary benefits for India. 

However, an HBR report suggests that the Russia-Ukraine face-off poses more imminent challenges for India. With restrictions in foreign airspace and apprehensions in international trading, several Indian industries including textiles, plastics, steel, and pharma find themselves in choppy waters.

Learning from History

Wars have always wielded power over global markets. Historic events like the World Wars, the Cold War, and various regional conflicts have, time and again, caused stock market crashes and economic recessions. Businesses can glean insights into trends, impacts, and recovery strategies by studying these past events.

Strategies for Businesses

In times of conflict and global uncertainty, businesses need to be agile:

Diversify Supply Chains: Reducing dependency on one particular region can help mitigate risks.

Stay Informed: Keeping abreast of global events will allow businesses to anticipate and react swiftly to changes.

Financial Prudence: Ensuring a robust financial backup can be a lifesaver during such times.

Strengthen Local Ties: Focusing on local markets and suppliers can sometimes offer a shield against global disruptions.

The effects of war extend beyond borders, battlefields, and political arenas. In today’s world, businesses must be ready to navigate the challenges that arise from global conflicts. With foresight, strategic planning, and a keen understanding of events, businesses can weather the storm and find opportunities amidst the challenges.

The journey of India’s job landscape in the last few years has been a roller coaster, driven by domestic and international events. With the emergence of technology, the wave of digital transformation, and the unpredictable events of a global scale, companies have had to constantly adapt, leading to both growth and contractions in workforce numbers.

The Layoff Trend in the IT Sector

The tech industry hasn’t been spared from the effects of the shifting economy. Prominent companies have opted for workforce reductions, with over 4,000 to 5,000 employees being laid off recently. This isn’t a standalone case, as Accenture also reported the removal of approximately 19,000 employees from their roles. Startups, despite being backed by tech giants, aren’t immune either. To paint a clearer picture of the intensity, an average of 555 employees in various industries faced job loss every day over the past two years according to the latest data by layoff.fyi. 

The Larger Impact

Broadening the lens, other players in various sectors felt the strain as well. Microsoft, for instance, trimmed the workforce of its social media platform, LinkedIn, affecting around 668 employees. Another statistic shows that in 2022, nearly 11,833 employees in Indian startups across different sectors found themselves out of a job.

Support Systems and Government Initiatives

In light of these trends, the Indian government and private sectors have made efforts to provide a safety net for those affected. Temporary income support such as unemployment insurance and redundancy payments have been provided. The Industrial Disputes Act (IDA) has provisions permitting layoffs while ensuring a balance between employee and employer interests. Efforts are also being put to improve the Ease of Doing Business, with guidelines and strategies being issued by multiple governing bodies.

The Silver Lining

Not all is bleak, though. Many who found themselves out of work didn’t remain unemployed for long. Data by Forbes India suggests that 40% of those laid off typically find new employment within a month, and an encouraging 80% secure jobs within three to four months.

Global Influences and Challenges

It’s important to contextualise these events within the global environment. The pandemic introduced a range of challenges, impacting India’s economy and formal job market. Further, global economic challenges and the US Federal Reserve’s decisions have introduced more complexities, impacting sectors like IT. Additionally, the ongoing conflict between Russia-Ukraine & Israel-Palestine is causing ripples in the global market, affecting nations far and wide, including India.

Adapting to economic downturns and market shifts requires a multifaceted approach. While layoffs are an unfortunate side effect of these shifts, the combined efforts of the private sector, governmental initiatives, and the resilience of the Indian workforce are noteworthy. As the landscape continues to evolve, it’s crucial for professionals and companies alike to stay informed, agile, and ready to adapt.

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.

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.

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.

On August 23, 2023, the Indian Space Research Organisation (ISRO) accomplished a milestone with the successful landing of the Chandrayaan-3 on the moon. This mission was not just a triumph in space exploration but also a testament to ISRO’s resilience and spirit. Here we dissect the journey, unveiling the lessons HR professionals can imbibe from this comeback mission.

Nirupama V.G., Founder & MD of Ad Astra Consultants adds “Chandrayaan-3’s triumph is a reflection of what resilience and teamwork can achieve. Its success mirrors the principles that guide us at Ad Astra Consultants: fostering innovation, learning, and an unyielding spirit. It teaches us to view challenges as stepping stones to greater heights, a lesson that is not just invaluable for the HR sector, but for every realm that seeks to redefine boundaries and achieve success.”

Journey and Purpose

The Chandrayaan-3 mission was more than just another lunar exploration; it was a beacon of determination and adept technological advancements. It stood as a testament to India’s prowess in space technology and a showcase of resilience, following the Chandrayaan-2 mission, which faced a setback in 2019 due to a hard landing.

Designed to safely land a rover in the moon’s highlands near the south pole, the mission carried the hope and expectations of an entire nation. The goal was clear: demonstrate advanced landing and roving capabilities, while conducting in-depth experiments through onboard instruments.

A noteworthy tech advancement was the laser-based guidance system incorporated into the lander. This system, boasting an array of sensors and actuators, played a role in achieving a precise and soft landing on the lunar surface, starting a new era in exploration.

The Backbone of the Mission: Resilient Leaders and Teams

The true spirit of the mission lay in the individuals and teams who worked behind the scenes, displaying resilience and ingenuity. The project director, P Veeramuthuvel, showcased exemplary leadership, steering the mission to success after analysing and rectifying the causes of the previous mission’s failure.

S Unnikrishnan Nair, the Director of the Vikram Sarabhai Space Centre (VSSC), was the force behind the Launch Vehicle Mark-III development and testing, overcoming hurdles including the delays brought about by the pandemic. Together with M Sankaran, the Director of U R Rao Satellite Centre (URSC), they led teams that breathed life into Chandrayaan-3, incorporating new technologies and saving time and costs by reusing components from Chandrayaan-2.

The HR Perspective: Drawing Parallels from ISRO’s Resilience

The Chandrayaan-3 mission exemplifies how resilience, innovation, and collaboration can redefine success in challenging situations. Just like ISRO, HR professionals can get lessons to cultivate a thriving and resilient workforce.

Recruitment: Merit-based recruitment, like ISRO’s, ensures the acquisition of top talent. By fostering a feedback-rich environment and seeking skilled individuals from diverse backgrounds, HR can curate a balanced and high-performing team.

Training: Continuous learning, as demonstrated by ISRO through its rigorous training regimens, is key to maintaining an updated and skilled workforce. Organisations should invest in skill-building, promoting a culture of continuous improvement.

Welfare: Just as ISRO provides a supportive environment for its employees, companies should cultivate a similar atmosphere. Benefits, mental health support, and acknowledging achievements are vital for a motivated workforce.

Innovation: Like ISRO, which constantly pushes technological boundaries, organisations should promote a culture of innovation. Encouraging employees to approach problems creatively can lead to groundbreaking solutions.

Resilience: ISRO’s comeback with Chandrayaan-3 is a lesson in perseverance. In corporate settings, fostering a mindset that sees failures as learning opportunities ensures long-term growth and sustainability.

Insights from the Experts: Resilience in Practice

Recent studies emphasise the value of resilience in the workplace. For instance, a Harvard Business Review study highlighted that resilience thrives not only as an individual trait but also through relationships and networks. 

Adding to this, a comprehensive study by the ADP Research Institute provides further insights. In 2020, they conducted a global analysis exploring resilience and engagement levels across 25 countries. By surveying over 26,000 individuals, they aimed to aid leaders in fostering both personal resilience and a deeper engagement within their teams. The research offers a roadmap for leaders to nurture engagement and resilience in their teams, highlighting that understanding and support at the organisational level can enhance overall resilience and productivity in the workplace.

Such findings suggest that organisations can bolster resilience by fostering camaraderie and a sense of shared purpose.

Future Implications & Trajectories

The success of Chandrayaan-3 solidifies ISRO’s position in global space exploration, potentially leading to further international collaborations. Similarly, by adopting ISRO’s resilience-driven approach, businesses can position themselves at the forefront of their industries.

As we move towards an evolving global landscape, the principles of resilience and ingenuity are more pertinent than ever for HR professionals. By fostering a culture that values continuous learning, innovation, and bouncing back from setbacks, organisations can ensure they remain agile and robust, ready to face the challenges of tomorrow.

-Authored by Monalisa Nayak, Principal Correspondent, Ad Astra Consultants

While the call for women’s empowerment resonates across the globe, there is a need to scrutinise its impact at the grassroots level. Women are inherently capable leaders, and their recognition and involvement at all tiers is essential for fostering economic growth. This sentiment was well articulated by Ms. Jayanthi Yeswant Kumar, Co-Founder and Chairperson, Ad Astra Consultants, during a discussion on “The Pyramid Effect and Career Graph of Women” in an exclusive interview with DD National at the G20 Summit in Gandhinagar, Gujarat.

According to statistics from the UN’s World Population Prospects 2019 report, the gender ratio worldwide in 2021 was 101.68 males per 100 females, with women representing approximately 49.58% of the global population.

The International Labor Organization reports that 52% of women in India expressed a desire to contribute to the economy, either through paid employment or by balancing work and family responsibilities. However, startlingly, there has been a decline in female labour force participation over the past two decades – plummeting from 32% in 2005 to 19% in 2021.

In addition, it is important to shed light on the situation of the disabled demographic globally. According to a WHO report, an estimated 1.3 billion people are living with disabilities, constituting about 16% of the world’s population, or one in every six individuals. In India, this group makes up approximately 4.5% to 5% of the population.

As we turn our attention to the Asia Pacific region, we find that Singapore stands as the strongest economy. The data depicted in the graph elucidates the female employment-population ratio in various countries including Singapore, the United Kingdom, the United States, Malaysia, the UAE, the European Union, and India, among others.

In this self-realisation phase, it is crucial to decide how we can contribute to transforming the workplace for the above-mentioned class, uplifting them enabling substantial growth in the economy and building a brighter India.

In today’s digital age, ‘infrastructure’ extends beyond roads and bridges—it encapsulates the digital highways that connect us in cyberspace. Simply put, it is the backbone of our online world, ensuring that data flows smoothly and systems communicate seamlessly. One segment of this infrastructure is finance—a tool that has transformed how we manage, transfer, and save our money. Recognising its transformative potential, the Indian Govt. has launched several initiatives. From the Pradhan Mantri Jan-Dhan Yojana (PMJDY) aimed at universal banking to the India Stack promoting secure and inclusive payments, the government is striving to make digital finance universally accessible, with a particular focus on women.

Setting the Stage

A survey by YouGov indicates that in urban India about two-thirds of women engage with digital modes of payment, with convenience standing as the leading reason. Interestingly, cashback, promotional offers, and the ability to keep a record of payments are also cited as motivators. However, the report also suggests that despite these numbers, achieving gender parity in digital financial accessibility remains a challenge. The constraints faced by women are twofold: limited access to financial services and limited access to digital technology, both of which have traditionally been male-dominated.

The Influence of Digital Payments: Role of UPI

The Unified Payments Interface (UPI), a real-time digital payment system, has transformed the way we make transactions. As per a World Economic Forum report, In 2021, India led the world with 48.6 billion real-time payment transactions, leading the chart and saving the economy approximately $67 billion since its inception in 2016. Not only has UPI enabled the easy transfer of money from one bank account to another, it has also linked QR codes, phone numbers, and bank details, making payments more user-friendly. “A large number of transactions via UPI demonstrate that this indigenously designed payment system is very secure,” said Prime Minister Shri Narendra Modi. 

The seamless integration of UPI with popular applications like Paytm, GooglePay, and PhonePe, coupled with easy refunds on failed transactions, has fuelled the growth of digital payment transactions. The spike in UPI usage during the COVID-19 pandemic further attests to its popularity. 

The Growth of UPI and its Impact on Women’s Financial Independence

UPI’s rise has been striking, with transactions in May 2023 hitting 9.41 billion—a 58% increase from the previous year, as per YouGov’s survey. However, achieving gender parity in digital payments is still challenging. ” Springer Link’s study points out that one out of every five Indian women doesn’t have a bank account. Efforts are in place to boost these numbers, but challenges persist in regular account activity and gaining access to savings and loans. Even with hurdles, embracing digital finance can drive us closer to goals like gender equality and job growth.

Policies and Initiatives Propelling Digital Financial Inclusion

Several programs have been launched to boost women’s access to digital financial tools. A notable initiative is the ‘India Stack’, a digital toolbox – featuring a unique digital ID card and easy ways to make online payments. This toolbox is transforming how women in India manage their money, helping the economy grow. Another key player in this change is the trio of Jan Dhan, Aadhaar, and Mobile – known as the JAM Trinity. Moreover, the PMJDY—launched in 2014—aims to give every household without a bank account their own access. It’s one of the biggest efforts worldwide to increase banking use.

Empowering Indian Women

A study by the Observer Forum Foundation suggests that access to digital payment infrastructure has offered a lifeline to women, unlocking income generation opportunities, fostering asset accumulation, and enabling participation in economic activities. As women gain control over their finances, they are able to weather shocks, such as those brought on by the pandemic, making these resources critical for improving resilience among India’s marginalised populations.

Anticipated Developments and Remaining Challenges

Future developments in infrastructure could amplify women’s empowerment in India. The United Nations has developed a roadmap for their economic empowerment, identifying advocacy and programmatic priorities for strengthening the rights of informal sector workers in India. UNDP suggests that the rise of the gig economy is another exciting development. The adoption of new technologies could create better opportunities for women, provided adequate reskilling programs are available. Increased adoption of digital technology and acceptance of virtual work in sales and distribution could pave the way for women in fields dominated by app-based interactions and phone calls.

Nonetheless, challenges and roadblocks remain to be tackled to realise their full potential. These include limited physical infrastructure, low ATM penetration, limited digital adoption, poor connectivity, cybersecurity threats, and low literacy rates. These factors can hinder the fortification of India’s payment infrastructure and limit women’s access to and use of digital payment systems. Overcoming structural and technological challenges such as cyber-frauds, transaction costs, communication infrastructure, awareness, and adoption requires collective intervention by the industry.

The Ripple Effect

The power of women’s upliftment through digital payment access is clear in places like rural India, where women have traditionally been sidelined. In a nation marked by gender disparities and divided by urban-rural divides, these initiatives have ushered in winds of change. The contrast between bustling cities and remote villages highlights these disparities. Financial imbalances, combined with gender and regional disparities, still hinder India’s potential. The journey to bridge this gap is long, but every step towards an inclusive and equal digital finance ecosystem moves us closer to a brighter, unified future for all women.

The professional aspirations and priorities of every generation differ, often influenced by the socioeconomic and cultural contexts they grow up in. For Gen Z, the generation born between 1995 and 2010, work is not just about earning a paycheck. As recent data suggests, this cohort of young professionals values purpose-driven work significantly, often placing it above many other traditional considerations.

The Deloitte Global 2023 Gen Z and Millennial survey highlighted that while work is central to the identity of Gen Z, they highly value a work-life balance. This balance isn’t just something they admire; it’s their top consideration when selecting an employer. One of the pivotal aspects that contribute to this balance is the flexibility regarding where and when they work.

Compared to their predecessors, Gen Z’s emphasis on purpose-driven work is evident. A 2021 study by Zety revealed that members of Gen Z notably prioritise empathetic workplaces that focus on the broader needs of people and the environment. In contrast, preceding generations mainly viewed pay as the dominant consideration for job selection.

Responding to this shift in worker priorities, companies have been realigning their organisational values and missions. ThoughtExchange, an anti-bias management discussion platform, reported that a staggering 85% of Gen Z participants expressed a desire to be part of a company with a clear and meaningful mission. Further, 89% mentioned they would consider leaving an organisation that doesn’t resonate with their values. Leading the pack, organisations like Patagonia and Ben & Jerry’s have set exemplary standards by committing to social and environmental causes. Witnessing their success, several other firms are integrating purpose-driven values into their foundational principles.

But why this colossal shift? An article in the Harvard Business Review delves into the unique challenges faced by this generation. Many Gen Zers began their professional journeys only to face unprecedented disruptions due to the Covid-19 pandemic. Moreover, they’ve actively participated in movements advocating for social justice, equality, environmental concerns, and more. These experiences have carved out a distinct identity for Gen Z, one characterised by the scepticism of established norms, a hunger for immediate societal change, and a strong desire for workplace transparency.

As employers look to attract and retain the best talent from the Gen Z pool, it becomes crucial to align organisational values with the aspirations of this generation. The paradigm is clear: for Gen Z, purpose takes precedence over the paycheck.