Success is always an inspiration. Reading stories of successful entrepreneurs has a contagious energizing effect; and more so, if those entrepreneurs are from our industry, the HR Industry. What seems to be the common thread among them is their persistence and determination, the stubborn strength that drives them to stick to their commitment to success, whatever time and effort it might take. No backup plans, no going back, work hard and persevere; it is just a matter of time and you will get “lucky”... so they believe, and evidence has proven them right.
One thing is clear; the ‘Industry of HR’ is growing strong. Whether organizations are struggling with growth in scale and scope or with negative externalities in a recessionary market, opportunities are aplenty for entrepreneurs to tap into most verticals of the HR space.
Verticals within HR such as RPO, screening, HRO, benefits consulting, health benefits, PEO, and relocation are in the introduction stage in India and present huge opportunities. And verticals such as HR software, training and staffing are in the growth stage with opportunities to create scale. The HR space in India has witnessed the emergence of companies like Info Edge India (Naukri.com), TeamLease Services, Ma Foi (today Ma Foi Randstad), PeopleStrong and Ikya Human Capital Solutions, among others, which have helped in transforming the recruitment and staffing industry. There is an enormous opportunity to scale up for existing HR companies and to create new stars in this market.
The cover story, “HR Entrepreneurs” brings together data and analysis on how the ‘Industry of HR’ has evolved in the US as an indicator to the scale that the industry can reach in a mature economy. As part of the story, we spoke to seven successful entrepreneurs in the HR space. They represent how an HR idea can be scaled up, and while the journey of some has changed gears, their stories are a real inspiration. Take time and read the complete stories on our website, it is worth every word. The story also puts together certain basic elements that make an entrepreneur successful and discusses how HR professionals might be in a better position to make it big in this industry. While they can identify the gaps in the market much faster, they will need to build on the traditionally missing pieces: financial and sales acumen.
In this action-packed issue, we also highlight the key findings of the Kronos – People Matters Survey on Workforce Productivity, more than 200 professionals across industries shared their inputs on the challenges they face in managing their workforce and how tools and processes can enhance effectiveness, while minimizing leakages and enhancing productivity.
Finally, this being the budgeting quarter, many professionals are immersed in the compensation revision for the next financial year - this issue also carries a special on Total Rewards. People Matters spoke to over 30 professionals, including buyers and service providers, to get their views on what lies ahead: segmentation, increase in variable components, deferred compensation and going beyond cash, will be the key focus areas for 2012. This special also carries a well-researched list of service providers in this space for the buyers’ reference.
As we continue to bring relevant and current stories, we would love to hear from you and get your feedback. Please do write to us at firstname.lastname@example.org.