My karaoke Attempt :p

http://lafango.com/pulkitrungta/media/2351341-pehli-nazar

Indian Work Culture 2020

Business Plan, Business Idea, New Venture, Start-ups, Free lancing, Work from home.

These topics are buzz word today; they are often termed as the future of New India. Competition is at all time high, so are the aspirations to be an Entrepreneur. So where are we heading? 8 years from now (2020). What are our woes? Our strengths?

Let’s first see what our work culture is as of today.

The Primary thing which drives many of us into a job today is social security.Viz: Money, Comfort, Reputation etc.
Unfortunately only 4-5 % of the Indian Population is tax Payers as of today. I.e. around 60-70 Million people. These people are mostly people like us who work in an organized work culture.

So what do the remaining 1 Billion people do? When we are talking about work culture, we must not disregard the 1 Billion+ people, the real India.

The Current government is trying to organize the work for these 1 Billion people, Like Bringing FDI’s, Encouraging Trading in Securities market etc. These policies have mixed reactions from the corporate and Diplomats. And of course these decisions are going to shape how 2020 is going to look like for India.

Before seeing forward we also must look 8 years back. 2004 probably. What was our culture then?

May be fewer American India pvt.ltd companies and lesser technologies. But did the work Culture change much? I don’t really think so. We have all Smart phones and apps today. People, however still work the way they used to, yes of course with upgraded tools and technology which perhaps helped them with their TAT for any activity. Thanks to Mobile phones which changed the way people used to communicate.

Work culture is not only the way of working but also the motivation for working.

So, the point which I want to make here is that it is basically the technology which changes the way we work or determines our work culture. It is also true that we are laggards, i.e. we import our technology and are late adopters. This is probably the main reason why we are turning western.

This was about technology, now let’s come back to the Buzz words. Business Plan, Business Idea, New Venture, Start-ups, Free lancing, Work from home.etc.

India in the recent past has an education system which promotes success in the job market.

Most of the higher level education is job oriented today. B schools, Technical universities and Professional degrees are classified successful or failure based on the Job they guarantee in the tough markets today.

These buzz words have emerged not just due to aspirations but also due to necessity. With widening gap between the demand and supply of jobs, I see these words picking up a real high in the near future. Why entrepreneurship will also be successful in 2020 because knowledge and technology are now easily accessible. These have to comprise at least 25% of Indian work force by 2020, if we want to keep a professional work culture alive in India.

For Professionals joining corporate in 2020, reverse mentoring will be an essential part of any work culture. Again to bridge the technology gap between the young and not so young professionals.

Where would I be working in 2020? I believe I am already working in a professional environment.

But I will have to change with change in times. There is no sitting back and relaxing. An upgraded I will be required every time I walk into work. Learning with time and changing with needs. That’s what Charles Darwin Says. Survival of the fittest!

Reverse Mentoring

Mentoring has invariably existed. 

The experienced guys take youngsters below their steerage, giving recommendation and therefore the advantage of their years of hard-earned expertise.

This surely helps the young staff to urge a holistic approach and taste success in their early career.

Amazingly, mentoring relationships are changing and changing quickly.

The High heads of the corporate are currently suggested to be told from the company’s newest staff. conjointly termed as “Reverse mentoring”

But what will a fresher with peanuts in their pay roll provide to the senior executives?

Well the answer to it?“LOTS”.

We all understand that the youngest folks in his organization have grown up using the web — if truth be told, they don’t understand life without it. 

Any organization youngest staff are way more tech-savvy than their capable managers.

So isn’t it logical for the older staff to learn from that expertise?

It’s merely the method of passing concepts, experience and skill up the company ladder, rather than the opposite means around.

Young people simply getting into the workforce bring with them a far totally different skills set than their older managers and supervisors. Younger employees have a contemporary perspective on their jobs and on the corporate as a full. they need gigabytes of pc and technology-based experience, however that’s not all.

One notably helpful means for young staff to mentor their seasoned managers and supervisors is within the space of workplace perception. Often, a replacement employee is ready to ascertain things clearly while not the filter of years of expertise, which may generally cloud the reality.

It’s straightforward for senior staff, homeowners and mangers to become alittle faraway from what’s happening on the front lines of their businesses. It’s the adolescents, the counter employees, the servers, the desk clerks, that actually see and listen to how the corporate, its policies, procedures and product, are perceived by the general public. the actual fact that a  president worked on the front lines twenty years ago doesn’t create him or her an knowledgeable in what’s happening currently.

The difficult issue in reverse mentoring, however, is that the ego issue. several senior staff don’t very similar to the thought of learning a factor or 2 from newcomers, despite the worth of that information exchange to the organization as a full.

Young staff aren’t typically asked to expire their information to older, capable managers and supervisors — it’s an intimidating prospect.

The contemporary perspective is invaluable, and therefore the anonymous facet of a survey encourages folks to talk freely? Eliminating the “ego” issue from the equation. Older staff will enjoy younger insights while not one-on-one mentoring.

After all isn’t it a world of Agile methodology? and possibly will be in the near future.

A good sink between the Seniors and the Young guns might create all the required difference. 
                  ---Inspired by circumstances.

The Lokpal

It have been months now that we have been hearing about the Corruption & the Lokpal bill .

One thing which still worries me as how much transparency is the Bill going to bring and with what effectiveness?
What really bothers me is the number of taxpayers in India when I think over this issue.It is as low as 3-4% that is around 35 millions people only. So? how is Lokpal and tax related?

 The point which I want to make here is that 85% of the people surviving in India is due to the Giant group of unorganized  traditional business and jobs which are majorly responsible for running the show in India.Unaccountable, they have their own rules to carry on their business.

These people are not bothered whatever happens with the Lokpal , because it hardly affects them.

For example consider a very small Retailer or a Mom & Pop show store at some busy streets of Delhi.And a million of other such stores with million of employees who have never heard of recession, income tax exemption or GDP  just because it never effected them.

 Suppose the bill is passed and we catch hold of guys having swiss money.. so the govt might declare tax holiday for the next 10 years or say even 30 years(as we often read).

So the point I want to make is that the lokpal Bill will reap immediate benefits to only that 3% Tax paying community.

The other benefits we hear like 4 lane roads will surely happen. But in what time?

And please I would not like to believe that government will distribute those $ to Indian citizens in charity if they get it from the Swiss accounts.

These 3G scams, Common wealth or the Swiss UBS banks are just events.Which adds a solid reason behind the "evolution" of Lokpal and People like Anna Hazare.

Thus, coming back on the bill I believe that " Its more of a death signature for the "Netas of Parliament" as the 1st thing which anyone will like to do is get Swiss money back and get rid of the global loans.

Corruption in totality can only be removed with more transparency and process improvement of the Administration.

UID project I believe is one such big initiative and will really help the admin become more systematic.

Whatever it is, the Lokpal bill is more for good and have really made significant impact already and will surely it will be brutal for people doing massive scams.

Truth about CTC

First-time job seekers fail to notice certain ruses companies employ to make an offer look "great".
The general strategy is to go for the highest paying “PACKAGE”
Specially talking about the last semester of MBA, It is that time of the year when corporates actively hunt for talent on campuses. So it is time to be on the guard. one have to better scrutinise all offers before accepting the best one, and the bottom line is: higher CTC doesn't always mean higher pay.

Things to remember
Retention and performance bonus: If the retention bonus is huge (say 10-15% of the CTC) and will be paid only after 2-3 years, you need to consider what you could have done with that money. A Rs 2.5 lakh retention bonus coming to you after two years will add more than Rs 10,000 to the monthly CTC. But after two years, the value of that Rs 10,000 will be barely Rs 8,500 (considering 8% inflation). Says E Balaji, CEO at Ma Foi Management Consultants: "It is important to understand that there are deferred payments such as these that cannot be part of your take-home (salary)."
As regards performance bonus, don't forget that it doesn't depend on your performance, but that of the company. "There are years when you may not get the performance bonus. But in some years you may get more than 100%.
“ Also, one must remember that all kinds of bonus are taxable”
Variable take-home: Depending on the industry and your job profile, the variable component of the salary will vary from 10-15% to as high as 50%.One must bargain for keeping it as low as possible.

Insurance and medical facilities: Most employers provide health insurance cover to employees and their dependents. Some also provide life insurance free of cost. The premium amounts paid for such insurance by the company on your behalf can be part of your total salary. Many companies also have in-house facilities offering "free" medical care to employees. A per-employee cost for such facilities may also be included in your CTC pay package. Your CTC ends up looking bigger.
Stock options: Companies may offer Employee Stock Option Plans (Esops) to new hires. "If shares are allotted or transferred on or after April 1 2009, the same will be taxed as perquisite in employees' hands.It means is that the employee will have to pay some tax the moment Esop’s are allotted to him. However, if you are lucky enough, you might end up in earning huge!
LOOK FOR A BETTER JOB PROFILE, GENUINE MONEY WILL FOLLOW NEXT!

What decides your career goal?

"IT’S ALL ABOUT THE MONEY"
Yup this is what the trend has become.
The 1st thing people associate today with a job is the "Pay Package".
Went through a job interview today, one of the leading MNC and the first reaction of many of my colleagues was "how much is the package?"
No concern for the name of the company, not job profile either.

For most youngsters today, the money they earn in the profession is the most important factor that attracts them to that job position. The reason is very obvious - students believe that money can buy them almost anything, be it material comforts or a good recognition in the society.

"The One who creates you also writes your fate"is an outdated proverb now.

Today Gen x is a master of its own destiny. Parents and society are not the only factors that influence one’s career decision.

Financial inflows are much important for most youngsters today, but for some, their passion for the job takes precedence to everything. Job satisfaction is given equal or more preference to monetary satisfaction in many cases. This is also a contributing factor to the enormous specialized courses hitting the market, which helps in associating one's passion to their profession.

So, what drives your career goal?

The positives of recession

Fair Valuation,Economic policy Reforms,Corporate Governance etc are the few jargons we often hear whenever there is some form of economic shock.

why it is only US and allied nations who have taken the maximum beatings?
And why States like Bihar,Bengal and Orissa have shown Significant growth as compared to others in this period?

The answer is the principle of "Conservatism" that people follow here.
Every once in a while the economic cycle indicates that the moment you over estimate your business gains and take unevitable risks,you are asking for trouble.
The U.S president's visit for various business deals accross the globe with developing countries shows the real economic freedom and saftey which Indians and other nations which work on similar monetary principles have!