The media and entertainment industry has transformed in the last decade with the rise of digital media. The rise of social media platforms like Facebook, Twitter, and Instagram has further created a need for digital content. According to one research, mobile video traffic is expected to grow at 55 percent per year until 2020.
Mobile technology has enabled access to not just data but also high-quality video streaming experience. The growth in this technology has also led to a steep rise in the smartphone penetration in the marketplace. This is the business opportunity that Vuclip was able to tap into in the form of a video-on-demand service in the emerging markets. Since 2008, the company has done business in India, the Middle East and in South East Asia.
The burgeoning marketplace in the industry has led to an increase in competition. In the digital era, where disruption is the order of the day, there is a need for the HR function to focus on driving the transformation agenda.
At Vuclip, the emphasis is on millennial talent, retaining a high performing culture and enabling people to collaborate proactively.
We are a company that mostly comprises of millennials. Therefore attracting this talent pool is a crucial component of our people strategy. In India, considering the fact that there is a limited talent in the digital space, retaining talent is crucial. Based on a number of research studies, we focus on the millennial workplace expectations and demands, which include attributing meaning to work, providing opportunities to learn and grow, workplace flexibility and feedback.
The role of HR here is merely that of a facilitator. Millennials expect continuous feedback. We leverage technology platforms like Webex and Skype to help every employee have access to at least 10 senior leaders who form the employee council and can be reached out to if an employee needs any support or advice.
Like most startups, Vuclip has an open and vibrant culture. There is a great degree of emphasis on the core values of the company. In order to ensure that we hire the right people, we have instituted a hiring council round as part of our hiring strategy. This is an interview round that is led by individuals who we have identified as champions of our culture. This could be anyone who has exhibited the behaviors that we want to drive in the organization. And for all senior level positions in the organizations, prospective candidates are required to articulate their own understanding of the culture of the company, the potential business opportunities and what they will do in their first 30, 60 and 90 days. Two attributes of culture that are unique to Vuclip is the importance of Trust Index, which is a score (on a scale of 1 – 5) that we track annually. Another attribute of the culture is called GTP or a go-to person, which means encouraging everyone in the company to identify a niche area they are specialists in.
In our business, which is driven by customer deadlines unlike the manufacturing space, it is important for all stakeholders including the product manager and engineer to collaborate proactively. So HR has a stake in helping people work better with each other, to enable collaboration, execution, and ownership.
Read the digital transformation agendas of other leading companies in our annual "State of HR technology" report here