SigmaWay Blog

There are lot of challenges faced by HR, from slowed hiring to restructuring, after the layoff  from IT industry. HR has considerably lagged behind in the use of big data and analytics in India. And according to a study, only 5% of big-data investments were in made in human resources. HR analytics is critical not just from talent acquisition and management perspective, but also cost optimisation. According to Arjun Pratap Singh, “AI and analytics are the driving force behind HR technology and this will drive the new employment economy. From talent acquisition and workforce optimisation to workforce transformation, AI be the strategic enabler to HR”. Data-backed decisions lend transparency to processes such as annual reviews. In case of retrenchment, data-driven decisions lend validity to the process. It is the absence of the data that HR analytics is lagging behind. Read more at: http://analyticsindiamag.com/can-hr-analytics-solve-major-talent-challenges-times-mass-layoffs/

They are many ways of becoming a millionaire but working for someone might not be one of them. For someone with a family to support, leaving the safety of a salaried position is risky, even if it might be more lucrative down the road. If you’re set on becoming a millionaire, but you also want the security of working for someone else, here are a few options to consider.1.) Earn partner status: just look for the company that is going to turn into a partnership firm, there can be a way for you to enter. 2.) Take stock options: many companies offer stock in addition to a small salary, one can accept, as there are more chances of growth. 3.) Savings: savings is more essential than earning more money. 4.) Invest wisely: Many entrepreneurial-minded people are skilled at spotting a solid business concept and putting their money into it. 5.) Taking over business: Eventually, the business owner will retire or move on to other ventures. That could be your chance to shine. 6.) Start a side business: Once your day job ends, your side hustle should begin. With today’s technology, you don’t have to invest in a physical office and a team of employees to start a new business. Read more at: https://www.entrepreneur.com/article/296361

In today’s fast life every single one, once in a lifetime, thought of a start up. But only few do that and some of them survive. So here are some points one should consider before starting up. 1.) Do proper research: Being impulsive can be a huge mistake so first create a list of advantages and disadvantages you will face when quitting your job. 2.) Create a business plan : After doing proper research about it, one need to put it on paper, so that is something you can show to potential investors, partners, and other company stakeholders. 3.) Funding: Of course, funding is important to the company but before it one need to have his/her own personal finances in check whether it for rent, insurance or pocket expenses. One need to be stable in that before funding a company. 4.)Structure: After that one have to decide between different entities of business 5.) Network: One can take help from his network. 6.) Positivity: Be positive about what are you doing. Read more at: https://www.entrepreneur.com/article/294251

According to a report by ET , Tata Group buys a controlling stake in beleaguered national carrier Air India. Irony is, it’ll go back to same group which had built and nurtured it into one of the world’s finest airlines. Tata Sons set up Tata airlines in 1932. JRD Tata, the legendary entrepreneur, himself flew the first flight between Karachi and Mumbai.Then it became a public company and was renamed Air India. In 1953, prime minister Jawaharlal Nehru, a Fabian socialist, decided to nationalize Air India “through the back door”. Living upto Nehru’s sentiment, Air India today reels under a debt of about Rs 50,000 crore and has never made a profit in a decade, despite eating up Rs 24,000 crore of a government bailout package. Even Tatas are concerned now over its huge debt. While there is no certainty if Tatas can turn Air India around if they decide to buy a controlling stake. Read more at : http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/how-history-will-come-full-circle-if-tatas-buy-air-india/articleshow/59253577.cms

According to Chet homes only 3% of your target market is ready to buy. 7% of your target market is open to buying but not looking, 30%  of your market is comfortable with the status quo and 30% of your market believes they aren’t interested. They are focused on “trying” to hit that 3% of the market. If those leads that may or may not be part of the 3% of the market do not move forward, then you have a high cost for business growth. So, to capture the remaining 67% more opportunities one can 1.) Focus on relevance across all levels using an account based sales and marketing approach. 2.) Engage in marketing for sales alignment. 3.) Focus on breaking down the potential customer’s status quo. 4.) Don’t optimize content for social media engagement. 5.) Focus on lead validation and qualification.  Read more at: http://www.business2community.com/social-selling/get-67-revenue-opportunities-using-linkedin-not-just-leads-go-nowhere-01860895#YcRxV4RbbdiwtFWQ.97

The author, Jason Parks (CEO of The Media Captain), has brilliantly put forth the idea of generating more money through social media strategies, as according to him social media can be one of the most effective marketing tools for B2B sectors. According to the author, following are the ways to an intelligent social media strategy, B2B companies can adopt: 1) Rather than using the old ways, social media can be used to connect with the prospective clients. 2) Resorting to creative ideas to end the email, for example: ending with a massage incorporating "P.S.", 3) Adopting unique promotional strategies for dissemination of articles and targetting the right audience 4) Using the popular social media platforms to directly approach the customers by direct messaging. Read more at https://www.entrepreneur.com/article/295649

According to the author, Artificial intelligence is one of the most effective technological tools, if used properly, businesses can witness reduced requirement of human hands in performing the tasks. Using Artificial Intelligence in the following ways, business can achieve its success: 1) AI should be used smartly to mechanize all the tasks, thereby,minimising the requirement of manpower, to achieve the goals. 2) Artificial intelligence is most efficient in identifying patterns, medical sectors can be benefitted largely if they make judicious use of AI. 3) Rather than replacing the human elements from the system with AI, focus should be on increasing the use of AI and atomizing the tasks that don't require much skills. 4) Artificial intelligence should not only be used to analyze data, but also to be used creatively in other uncommon areas. Read more at http://www.tomsitpro.com/articles/using-ai-for-business,2-1144.html

Across the globe, in the banking sector, the increased exigency for sturdy laws to keep the customer's personal information secure is a result of increased involvement of Information Technology(IT) in the banking sector. In India, the following legislations have been introduced in the banking sector to protect customer's personal details: 1) As per the Credit Information Companies Act, 2005, CICs, based on the past records of the customers, determine whether they are eligible to access credit facilities, after which information are provided to the  financial institutions and have a restriction of not sharing the informations with any other party except the user, unless otherwise stated. 2) Another notion has been introduced under Insolvency and Bankruptcy code, 2016, known as Information utilities. It creates a robust data storage platform to store all the financial informations of the customer, helping the banks in lending credit to take better decisions. Despite having such strong legislations, customers often fall prey to phishers and end up sharing their personal details, which is clearly a result of lack of implementation. Read more at http://bankingfrontiers.com/data-privacy-banking-sectorstriking-balance/

Social Media, undoubtedly has major benefits when it comes to simplification of communication. It includes various platforms to connect to people, with e-mail topping the list.  In a company e-mail might be accessible to the management and the employees but not to the workers of low level. 1) To reach out to them, instead of e-mails, several other offline ways can be used. 2) Merging the social media with the offline ways for putting in better emphasis on the information, is what the company wants to share. 3) It is observed that the elderly people use social media platforms more often, instead of e-mails, in such cases, social media websites can be  used to communicate to them. 4) Resorting to creative ideas to share the contents instead of using the same old methods to grab more attention. Read more at http://www.govtech.com/govgirl/4-Ways-HR-and-Other-Departments-Can-Use-Social-Media.html

HR is no longer limited to performance appraisals, resolving the feuds and ensuring the payments are received on time, rather now, the role of HR has become way more diversified and complex. According to the author, following are the views expressed by the HR experts on providing the best Human Capital Management: 1) Instead of focusing on the best performers and new recruitments, every employee's talent should be encouraged towards betterment. 2) Keeping in mind the personality of an employee while interacting with him. 3) Identifying and choosing the right technology for the management of employee data. 4) When it comes to communication, it should be straightforward without letting the morale of employees down. 5) Being updated with the changing environment and trends. Read more at http://www.drakehub.com/knowledge-hub/2017/6/hr-evolves-into-human-capital-management/

Nowadays, fraudulent banking transactions are being reported by a large number of customers, but as per RBI's  revised directions on ‘Customer Protection – Limiting Liability of Customers in Unauthorized Electronic Banking Transactions,' customers suffering any loss due to a third party fraud or unauthorized transaction caused due to fraud or negligence on bank's part will be solely borne by the bank, if it is reported within three working days and the entire amount will be credited to the customer's account within ten working days. However, if any loss is caused due to customer's fault or negligence, bank will not be liable to return any money. Read more at http://www.financialexpress.com/industry/banking-finance/customers-should-report-fraud-in-3-days-to-avoid-losses-says-rbi/752493/

According to the author, those firms which have incorporated lean six sigma in their businesses, are growing by leaps and bounds. Following are the strategic process improvement trends in the top-notch firms, extracted by the author: 1) Creating the best process practices for future, rather than absorbing the best practices from other firms. 2) Introducing the new technologies in the firm for the convenience of the clients. 3) Adapting to the changing technology and artificial intelligence and being updated about the frequent changes. 4) Eliminating the complexities and switching to simple, hassle-free and practical ways, by embracing lean six sigma. Read more at http://www.boomer.com/single-post/2017/05/18/5-Process-Improvement-Strategy-Trends-of-Future-Ready-Firms

According to the authors, data and analytics should be the backbone of every area of organisation, and in order to build a strong D&A function, it is required to take help of organisational people and other components. In order to  meet the business goals, it is important to adopt a strategic measure to initiate the data analysis which can be done by a team of skillful data and software engineers, who can be amalgamated with the existing users and providers of D&A and can work cohesively with the non-D&A fellow colleagues, to work towards achieving the goals in a more realistic way. According to KPMG’s 2016 CIO Survey, data analytics is the most sought-after technology skill which should be utilised to its best. Read more at https://hbr.org/2017/06/how-to-integrate-data-and-analytics-into-every-part-of-your-organization

According to the author, in this age of technology and machines, where almost everything is being replaced by the machines for avoiding errors and for the simplification of work, the old definition of being smart is no longer valid. The new definition of being smart is the one that makes us improve our high order thinking skills. The new definition of being smart is determined by the quality of our analytical skills, effective listening and the ability to relate for better understanding of the goals. Read more at http://smmry.com/https://hbr.org/2017/06/in-the-ai-age-being-smart-will-mean-something-completely-different#&SM_LENGTH=7

Natural language processing is the amalgamation of artificial intelligence and computational linguistics so that there can be smooth conversation between the computers and humans, and it does so by empowering the computer to analyze the input, that is, what is being said by the user and processes the contextual meaning. Following are the areas where NLP is being used efficiently: 1) NLP is used for the purpose of communicating meaningful information extracted from the complex big data sources 2) NLP is used for data privacy, in comparison to the traditional old methods, it helps the businesses to detect the phishing and malware sites in a much easier way. 3) NLP is used for the better understanding of the questions of the users and answering them in a seemingly natural human language. Read more at http://www.dataversity.net/natural-language-processing/

According to a recent report from Edison Research and Triton Digital, moms in US spend more time on the internet rather than listening to music on radio or watching television. Research on 248 moms says that about 55% of them use primary smartphones to access internet, 36% of them use desktops and laptops for the same and 9% use a tablet. 38% moms are the subscribers of Amazon Prime which is an online shopping portal and Facebook, WhatsApp, Pinterest, Instagram, Snapchat, Twitter, LinkedIn are some of the common social sites and apps which are commonly used by them. It is also found that 93% of moms access social networking sites daily and 62% of them access it on a multiple time basis daily. Read more at: https://www.marketingprofs.com/charts/2017/32087/the-media-and-internet-habits-of-moms-in-2017

Twitter will now be shaking hands with a machine-learning startup that specializes in working with images, to deliver better video and picture content to expand its Machine Learning and AI parts. According to the sources, nearly $150 million is invested in this machine learning startup. A team of engineers will help Twitter by letting the users explore new experiences and share them. Read more at: http://economictimes.indiatimes.com/small-biz/startups/twitter-allows-users-to-share-140-second-videos/articleshow/52848116.cms

At the 10th anniversary of the original iPhone, Apple decided to do something unique. The design changes brought on the iPhone includes edge to edge LED and many more. According to the sources, more changes can be brought like eliminating the home button by building the fingerprint sensor into the display. Read more at: http://www.firstpost.com/tech/news-analysis/wwdc-2016-siri-imessage-and-maps-open-to-third-party-devs-3683655.html

According to the author, Facebook is the most preferred medium for the people to connect with their followers and being able to get in touch with the new ones. Following are the ways by which Facebook live videos can help a business grow: 1) Winning  trust of the clients by showing them the glimpse of the inner perspectives and future goals of the company. 2) Facebook live video is the best way to advertise a new product. 3) Collecting information, advices and suggestions, by taking the Facebook live comments into consideration. 4) Answering to the general sales queries and FAQs. 5) Making the clients aware of the upcoming events and activities of your company. 6) Conducting a free live training session for the audience. Read more at: https://thenextscoop.com/boost-business-facebook-live-videos/

Earlier we were including references and career objectives but now we are not including it because of the new modern trend that is going on. The main reason behind is it makes your resume look old or outdated. One thing we can do is, we can provide one reference upon request or if they ask for it. This doesn’t mean that we should not have a reference list or carry a reference list. We should carry it separately, which upon asking we can quickly and easily show them. This ultimately will show a respect and dedication towards a job and hopefully it may get u a place in his organization.

Read more at: http://www.business2community.com/human-resources/no-shouldnt-include-references-resume-01807149#32CvpADKecwbQ5Hb.97