132 ISSUE JULY 2022, MONDAY

SPECTRUM

IN THIS
ISSUE

HR LEADERS MUST
ADOPT A PRODUCT
MINDSET : MADRI
PRASAD, STOCKAL
PAGE 1-2 HR LEADERS MUST ADOPT A PRODUCT
MINDSET : MADRI PRASAD, STOCKAL
START UP CORNER
PAGE 3-4
In India, the wealth management sector is expanding quickly. The
financial services sector is seeing a growth in "wealth tech" firms as
NEWS CORNER the digital revolution changes how individuals handle their finances.
& According to a survey by CB Insights, financing for global wealth
technology increased by 156% year over year, with 35 mega-rounds
HR FACTS accounting for 71% of the total funding for the year. To achieve their
PAGE 5 lofty, ambitious goals, these hyper-growth enterprises must step up
their efforts to both acquire and retain personnel. In this situation,
investing in human resources becomes necessary.
PSYCHOLOGY CORNER
& To recruit and keep top talent, one of the freshly financed wealth
tech firms, Stockal, is changing the workplace culture,
QUIZ TIME
experimenting with gamification, and improving internal talent
PAGE 6 mobility. In an interview, Madri Prasad, Vice President of Human
Capital at Stockal, addresses how HR executives in rapidly
expanding companies may navigate the Great Reshuffle era.

WHICH CRITICAL TALENT TRENDS ARE SHAPING THE HR STRATERGY

OF FAST – GROWING COMPANIES AND EMERGING SECTORS?
Financial services and technology, two previously different
industries, are now officially merged under the umbrella of fintech.
We have noticed a change in the investment environment during COVID that has
attracted a large number of first-time stock investors, which has surprised us in our
line of business, wealth tech. Designing an Employee Value Proposition that attracts,
engages, and retains talent is crucial for people managers because talented people
orchestrate the growth story. In order to scale, HR will need to take ownership of
many of these crucial processes, whether it's developing or fostering internal talent,
ensuring better collaboration in the new "hybrid" era of work, establishing a sense of
purpose through the organization's culture, or encouraging more data-driven
decisions.
HOW ARE YOU LEVERAGING GAMIFICATION TO RETHINK THE WORK CULTURE AT
STOCKAL?
Although the idea of gamification has been around for about 20 years, it is still
relatively new in India. The Operations Team at Stockal was adventurous enough to try
it after I just so happened to read about it a few years ago. Gamification uses the
qualities of games—fun, play, transparency, design, and competition—and applies them
to a variety of real-world business operations to foster a healthy sense of competition.
By gamifying KPIs, we at Stockal have successfully put the idea into practise.
Leaderboards and oddball competitions have increased productivity, brought about
social recognition, and given people a sense of success.
Creating challenges inspires teams and fosters a positive sense of competition, which
in turn creates the ideal environment for cooperation and peer learning. In order to
drive teams to perform better and increase their engagement in the process, it is
important to capitalise on the fun, rewards, and recognition part of gamification.

HOW ARE YOU TACKLING THE ONGOING ERA OF THE GREAT RESHUFFLE AND BUILDING
A STRONG TALENT PIPELINE?
Building a talent pipeline and staff retention are, in my perspective, two sides of the
same coin. The Great Reshuffle or Great Resignation has had an impact on most
organisations, large and small, even if it has not been as severe as in the rest of the
world. People are equally interested in non-monetary motivators, even though
salaries, bonuses, and prizes continue to be the top draws for candidates.
Since lateral hires may be very expensive, at Stockal we put a lot of emphasis on
keeping people. During the initial screening process, we are transparent about the
role and what to expect on the job to help candidates get a full understanding of the
function, team, and company.
WHAT ARE SOME KEY SKILLS HR LEADERS OF STARTUPS AND SMEs NEED TO BUILD
FOR 2022 AND BEYOND?
It calls for a revolution. Even though the majority of us rode the COVID wave, the
epidemic has had a long-lasting impact on how work will be done in the future, and
the road ahead is still difficult. To stay competitive, HR leaders in startups and SMEs
must update their methods of thought and behavior. The "hybrid model" or "remote
working" culture is one important component. Simply put, flexibility is essential. Since
they will need to build a workforce around skills rather than jobs, HRs must be open
to new and developing workstyles and develop rapid flexibility and dynamic problem-
solving skills. The capacity to be adaptable and move swiftly—to react quickly and
effectively to changes in business requirements and upgrades, disruptions at work,
and employee expectations—has been helpful to me during the past few years.
SPECTRUM | PAGE 2 JULY 2022, MONDAY
START UP CORNER
UDAAN

Udaan is a (B2B) Business-to-Business e-commerce platform. The company helps its

users to grow their businesses by leveraging the power of technology. It is popularly
known as one of the largest national distribution platforms of its kind that has already
attained unicorn status. With an aim to make business easy in India, it provides its
users, access to new markets. Furthermore, it also provides financial products for the
sellers and buyers of the country as well. The goal of the company is to bring traders,
manufacturers, wholesalers, and retailers under a single platform.

Amod Malviya is the Founder and the Engineer of Udaan. Malviya prominently served as
the Chief Technology Officer at Flipkart for a period of more than 5 years.Amod Malviya
was an alumnus of the Indian Institute of Technology, Kharagpur, from where he
completed his B.tech in Electrical Engineering.

Vaibhav Gupta is another founder of Udaan, who was also appointed as the CEO of the
company in September 2021.Gupta is also an IITian, who graduated from IIT Delhi with
Computer Science & Engineering. He then pursued his MBA from the University of
Virginia, Darden Graduate School of Business Administration.Sujeet Kumar is the co-
founder of Udaan. He pursued his B.Tech in Civil Engineering from the Indian Institute
of Technology, Delhi.

The initial idea of starting Udaan by the ex-Flipkart employees was fueled by their
desire to empower the small and medium scale businesses of India.Initially, Udaan
started as a logistic platform for small buyers and sellers in electronics. They focused on
electronics during the first 8 - 10 months and with this,

Udaan managed to be in the limelight within the boundaries of the country, which was
very important for them as a startup company. The primary requisite of Udaan was to
develop the database strongly before stepping into the supply business. The B2B
trading platform is now eyeing to emerge as a lending platform for merchants.

Udaan's tagline or slogan reads as Khole Munafe Ka Shutter, which translates the
window that opens to success. The vision of Udaan is to "transform the way trade is
done in India leveraging technology. "The leading ecommerce platform in India is built
with an aim "to be a trusted partner to small businesses by empowering them with
technology, financial inclusivity, and supply chain capabilities to compete and win in an
increasingly tech and digital world."

SPECTRUM| PAGE 3 JULY 2022, MONDAY

Udaan is the asset-light player based on its business
model. It has got no plans to own an asset. Being a
B2B e-commerce platform, Udaan helps businesses
to discover various customers, suppliers, and
products across different categories in order to make
the best deals possible.Udaan offers accounting,
order, and payment management solutions to the
merchants registered on its platform. It provides the
working capital (funds) to the retailers at reasonable
rates. So, basically, Udaan is not only a platform for
retailers and wholesalers but also helps in
underwriting loans for small businesses. "Integrity,
insight &
The company is aiming towards using fresh capital
to expand its supply chain network in India and also inclusiveness
focus more on growing the marketplace in both new
and existing categories. The founder trio believes
are the three
that they are building a better platform for small essential
businesses in India. They are also aiming towards
generating more revenue and cutting down on their qualities of
losses, which are still reported to be around Rs
3,009.5 crore outstanding.
leadership."

SADHGURU

SPECTRUM | PAGE 4 JULY 2022, MONDAY

 NEWS CORNER
1. Five in 10 IT, software firms
use employee engagement to
attract talent.
2. Green jobs witness 31% surge
as organisations focus on
sustainability practices:
Monster India.
3. India Accelerator introduces
new ed-tech startup Envent to
nurture entrepreneurship
ecosystem.
4. Chai Point to hire 2000
workers as it plans to open
100 stores in 2022.
5. Fintech startup OneCard

HR FACTS becomes India’s 104th unicorn

post $100 mn funding.

1. The global workforce is 55.3%

male and 44.7% female.
2. Up to 20% of staff turnover
occurs within the first 45 days.
3. Engaged workers are healthier
workers.
4. 33% of workers look for a new
job because they’re bored.
5. 80% of exit surveys use poor
methodology.

SPECTRUM | PAGE 5 JULY 2022, MONDAY

PYSCHOLOGICAL CORNER

Schizophrenia
Schizophrenia is a psychiatric
disorder characterized by
problems with perceptions or
expressions of reality, significant
social problems, disorganized
thinking, and delusions or
hallucinations.

QUIZ SECTION
1. Who is the CEO of Adidas?
2. The voluntary and involuntary
permanent withdrawal from an
organization is called?
3. The emotional part of an
attitude is called _______.
4. ‘First come last go and last
come first go’ is the principle
of?
5. What is the fullform of HIRS?

ANSWERS FOR SPECTRUM 131' QUIZ

1. MADHAV SHETH 4. RECOGNITION

2. YES 5. TANGIBLE
3. ROUTINE JOB

SPECTRUM | PAGE 6 JULY 2022, MONDAY