6 Best Global Cities to Work & Reside: Cities Millennials Should Take Note of – Part I

Global Cities London New York

Global cities are a result of the swift amalgamation of world economies and the rise of the global consumer class. Alternately, the boom of millennials within the workforce has given a shot in the arm to this overall concept of global cities.

Some cities are of vital economic significance in their countries and then there are cities which serve as an important nodule within the overall international financial system.

The term Global City was first coined by Dutch-American sociologist Sasika Sassen, in her seminal work, The Global City: Introducing a Concept.  Sassen emphasises that cities are major nodes in the interrelated systems of money and information, and the wealth they generate or accumulate closely related to the specialised businesses enable those flows, for example, financial institutions, accounting firms, consulting firms, law firms, and media organisations.

Today, roughly three decades down the line, the term Global City has become symbolic of places that offer the best economic, social and cultural climate to businesspersons and professionals (especially millennials and single professionals) for working or carrying out business and trade.

Globally integrated cities have a strong effect on economic and human development. They offer flourishing environs that attract the best talent across the world.

Here are the six best global cities in this world to work and live that I would love to visit at least once:

#1. London, UK

London has successfully placed itself at the number one position in the list of Global Cities to work and live for. In 2016, the city was ranked top in a survey named Top Global Cities of today, conducted by A.T. Kearney, trailed by its counterpart New York. The capital of England, London happens to dawn multiple hats—as the financial, educational, transport and even the cultural hub of Europe.

While all of London’s airport (including Heathrow) terminals, see more than 100,000 flights landing per month, reports suggest over the next one decade; the coloured Asian minority ethnic group will account for nearly 80 percent of its working millennials’ population.

London is already home to 33 percent of European HQs of Global Fortune 500 companies; it is also the world’s largest city airport system measured by passenger traffic.

The city generates 20% of UK’s GDP and is always fighting it out for the top spot with New York when it comes to being the most significant locale for international finance. Even if we choose to ignore the city’s economic and cultural background, today, its current face, its slick transport system, advanced educational and healthcare facilities, the ease-of-doing business makes it one of the three triumvirates—along with New York and Paris.

However, sustainability is again a fundamental challenge that the city faces in the wake of growing modernization and industrialization.

#2. New York, USA

Several research reports confirm the fact that by far, New York is the best place rather the best global city in the world to work and live (preceded by London recently). Of course, provided that it pays well. New York, happens to be one of the biggest modern hubs of the global economy.

The city is one of the largest urban hubs of the international economy and hence has been characterised as Alpha ++ world city. Wall Street located in Lower Manhattan is the leading financial centre and is home to the New York Stock Exchange (NYSE), the world’s largest stock exchange in terms total market capitalisation of its listed companies.

New York’s economic might can be gauged from the fact that the city is home to a maximum number of world’s billionaires. Several organisations including 45 Fortune 500 companies have their headquarters in New York City. On the other hand, industries such as information technology, software development, advertising, education (home to Ivy League University), fashion, new media are booming, accounting for an increased number of jobs for millennials.

#3. Paris, France

Paris has a particular place in people’s imaginations. One of the first global cities, its charisma has attracted the world’s brightest minds for centuries, from artists and émigrés to writers and entrepreneurs to political leaders. Fashion and Epicureanism still make up for its moniker style; but as the real city dropped out far its historic core, diversifying and adapting, the Paris of the imagination became somewhat fixed. Reconnecting the two cities will be an essential part of realising the potential for Paris to thrive in future.

Economically, it is growing stronger with each passing day, with Paris Region registering one of the highest GDPs in the world, (to the tune of $US845 billion). The Region headquarters 30 of the Fortune Global 500 companies and is the third most popular tourist destination after London and Bangkok.

In spite being a hub for high-tech manufacturing and high-value-added service industries, Paris is rated as the second most “green” city in Europe, right after Berlin. The City of Lights is close on the heels of London and New York regarding the economic importance, ease of doing business and of course, one of the best global cities to work and live.

5 Corporate Life Lessons from the Mahabharata

Corporate Life Lessons from Mahabharata

Composed somewhere between the 8th century and the 9th century BCE, the Mahabharata happens to be the most significant epic of India. Literary critics have described it as the longest epic of the world. It is ten times’ the Greek epics Iliad and the Odyssey combined.

While the epic may seem a little distant and archaic in present times to many, it’s relevance continues to remain with all till date. The world of corporate business and management is one of the best places where the ethics from the epic be easily applied. From managing business relationships to achieving goals, Mahabharata is considered as the most reliable guide for the corporates that often comes handy in resolving certain issues in the business world.

Some of the major lessons followed in the corporate world from the Mahabharata are explained below:

Corporate Life Lessons from Mahabharata

#1. Choosing/having the right mentor

Once you step into the corporate world, having the right mentor is very essential. Just like Arjuna had Dronacharaya. It is important to have a master from whom you can learn all kinds of skills that will enable you to go ahead and fight your future battles. Have full faith in the mentor and seize every opportunity to learn everything that’s possible. Understand, these are the skills that will prepare you for your future in the corporate world. However, you might have an occasional Eklavya or Karna trying to challenge you. But do not be perturbed.

#2. Teamwork with proper talent

Building a team is not an easy thing. Avoid making the team just for the sake of it. It is important to identify the key areas of the talent that you actually need to achieve your goals. If you have the right talent in place, your team can do wonders. Talent management within a small team becomes much easier. The Pandavas were only five in numbers, guided by Lord Krishna. But they had the perfect blend of everything required to win—talent, proper guidance, leadership, strength, intelligence, flamboyance, and youth.

On the other hand, having a large team with too many members does not mean, they would be the best. Despite having a full-fledged battalion, several strong warriors, a hundred Kauravas were unable to win over the five brothers. The Kauravas perished due to over ambitious nature and lack of coordination. Stay small and grow big.

#3. Believe in second innings

It is often said failure is the pillar of success. True that! Failures would be there in the corporate world. However, one defeat or loss should not be the end of your professional career. Learn from your failures and be strong to bounce back every time you are beguiled or driven out.

The Pandavas were forced to learn the hard way due to the ample differences between the two kin and their kingdoms. Make the most of the experiences and learn from each and every experience, and when time comes display your full armoury and abilities through determination and hard work.

#4. Win the right allies and make promises wisely

Having a right set of loyal friends in the corporate world is the key to creating a long lasting impression and also earn a sterling reputation. If you are alone, without any allies, you have to learn how to protect yourself. And have to get to stay away from controversies/ office politics. In case you are unable to do so, like Abhimanyu, you might turn out to be a victim of a corporate conspiracy. No matter how talented you are.

Alternately, making promises in the corporate world is equivalent to making sacrifices. Always try and stay away from promises that can ruin your professional aspirations. The matter may seem a bit dicey. If you are obliged to promise, you may have to let go many opportunities. On the other hand, if you do not adhere to your promises, you might be labeled as unethical.

#5. Acquire/have the right ammunition

Merely having power/talent might not allow you to win the corporate battle. You have to have the precise ammunition, in this case, the skills. You have to have the skills, tools, and attitude, and must know how to channelize them in the right direction to reap the maximum benefits.

Just as the Pandavas did, when Bhima killed Duryodhana at the indication of Krishna or Yudhisthira lied to Dronacharaya about the death of the latter’s son.

Using the right words, proper action all are an integral part of the corporate life that will earn you respect and enhance your career towards new heights.

In a Relationship with Your Boss? 4 Things to Keep in Mind

Boss

Love comes in all shapes and sizes and can happen anytime, anywhere with anyone. Workplaces are no exception and dating, falling in love with a co-worker or bosses are in fact pretty standard.

Though there is no doubt it is a natural occurrence – to fall for the boss – it has its list of complications, even more than dating a co-worker.

Power and authority can also make other people seem more attractive – most people had a crush on a teacher when they were at school but hardly followed it because they know it was something forbidden.

However, there are certain rules and regulations one needs to keep in mind while choosing to date at the workplace. And if the person of your romantic interest happens to be your boss, you need to get a little more cautious, especially when you both are in the workplace.

So, what are the tips you need to follow while dating your boss? Here’s a look:

Boss
Img. Src. Google.co.in

#1. Try and maintain secrecy

Having a relationship with your boss at the same workplace, might not be the absolute ideal. However, one can always try and maintain discretion and be diligent about the same. It might be rather difficult, as gossip mongers are there in every office. But, try to retain the secrecy element as long as you can.

#2. Don’t be discreet. Be diligent

This is an important thing to take care of. Always be cautious and never let your intimacy add to your ago. Never seek favours from your boss just because you are dating him or her. Handle competition at your level just as you would have done otherwise. Ensure you do not spend too much time at your boss’s desk/cabin.

#3. Limit the favours

Avoid taking limits from him or her that are not on your performance. Remember, if you do so, you will become a villain in the eyes of co-workers in no time. Every move you make towards success will be aligned to your romantic relationship with your boss. So, avoid it as much as possible. In doing so, not only are your efforts ignores but also strips off all your credits. It is a bad idea to expect any favours from anyone, especially in the reporting structure.

#4. Maintain respect and equality

Unless and until you are some vamp, try and keep as much respect as possible in your relationship. Always remember to keep the require distance while in office and especially during the business meet. Just because you are dating him or her in your personal life, do not treat the person casually at a workplace. Do give him or her the due respect he or she deserves.

Understand that dating your immediate boss at the same workplace can have certain perils. You have to know how to deal with office gossips as keeping these things under wrap is not always possible. However, if you know your boundaries and are ready to draw the necessary lines, the overall relationship can turn out to be fruitful, and you can end up having a fulfilling lifelong relation.

Why has HR Technology become as delightful as Apple Pies?

HR Technology

It is perhaps the most ambitious thing to have happened to the human resources of present times. An automated and easy-to-use human resource management system has already become the new standard for the global HR landscape.

Digital disruption and tech trends have been dominating the way human resources functions. The foraying in of applicant tracking systems have long transformed the way recruiting and hiring is done these days.

For example, manual registers and admin work have paved the way for automatic time tracking systems. Thereby, manual tracking outdated. While HR technology in India is almost nearing a decade, its demand is growing year after year.

Some of the reasons why HR technology is growing in leaps and bounds are explained below.

HR Technology

#1. Old is not gold

The typical legacy of the traditional human resources management systems has begun to fade away. And now with the new breed of employees, comprising millennials, human resources professionals are also looking for solutions that are unique, agile and up-to-date. This need keeps the hunt for a robust, web-based cloud HRMS solution.

#2. Cloud is fast catching up

Accessibility to the cloud has become much easier these days. Almost everything is on the cloud today’ – right from social media posts to mobile chats, and even HRMS solutions are no exception. The presence of on-cloud feature enables online HRMS solutions a lot simpler, scalable and less annoying for human resources personnel. Most importantly, a cloud-based payroll solution offers a centralized repository for all payroll and HR operations.

#3. Simple is the new bold HR

For optimum employee engagement and interactions, it is imperative for the HRs to update the HRMS interface on a frequent basis. Smart dashboards, engaging graphs, and insights are some of the key elements of an online HRMS solution to help keep the employees engaged. It is the reason; there is a huge emphasis on the usability and interface of a current generation HR systems be it a resume parser or payroll software.

#4. Tech-driven – mobile, tab and much more!

With the world getting much closer, thanks to the boom of gizmos and gadgets, what do organization do when nearly 50% of your workforce keeps travelling? Go mobile! Leverage the power of mobile recruiting and embrace the concept of anywhere and anytime job search as well as candidate search. The freedom that comes with web-based systems is one of the main reasons behind higher HRMS adoption and usage among employees.

5. Smart and quick HR analytics

Compiling and creating reports have always been painful for the HR departments. On the other hand, the implementation of HRMS tool makes their life much easier by generating custom reports for everything – right from hire to retire. Be it employee engagement, employee retention, organizational data or department level analytics; HR managers are now empowered to create quick reports for complex operations like talent management, performance, payroll, compliance, reimbursements and much more.

So, to all the HR professionals out there, stop thinking and, go and take a bite of the apple pie!

3 Lessons I Learnt from Quitting a Full-Time Job without Having Another

Quitting a full time job

Well, it is the cardinal rule of the global workforce—never quit a job without having another lined up.

However, sometimes choosing to walk off the beaten track can be a good idea and an enriching experience for some.

Being a professional for more than six years now, I have dawned various job roles spanning across three industries. From content to publishing to KPO, back to publishing; then jostling in a remote startup, followed by online marketing and now a full-time digital media professional, I have learned a lot. Not only have I matured as an individual but grown as a professional as well.

In this short span of my career, I have almost faced it all—right from being laid off (company issues) to being a victim of Queen Bee syndrome to quitting a full time job without any backup plan.

While these experiences might seem (or may not) fascinating to some, there are various bright side and even flip side to it. However, I would ideally focus on the last part—that is what I have learned by quitting a full time job without any backup plan.

Looking back, I can vouch that leaving job without another job, while probably might not have been the wisest decision to make. Nonetheless, it did teach a lot of life in general. Whether you call it stupid, impulsive or courageous, at the least it was educational.

Three major life lessons I learned (after quitting a full time job) are explicated in the paragraphs below:

Quitting a full time job
Img. Src. Chicagoland Real Estate

#1. Uncertainty can be exciting

Well, for me the uncertainty came as a welcoming change. Somehow, deep down inside I knew that this phase of unemployment would turn out to be fruitful for me and after a while, really it will not be a problem to take up another job after some time.

However, the uncertainty also instilled a sense of excitement and enthusiasm in me. I felt optimistic and happy in pursuing my passions for some time at least. While I must confess it was one of the most anxiety-stricken time of my life, it was also one of the most exhilarating time – devoid of any routine.

#2. Life begins at the end of your comfort zone

True. And I am a living example of that. I realized the support of money being credited to your account every month would stop. I will have to continue living off my savings. There was a big part of me that figured I was suited for that sort of life and career.  I had succeeded in overcoming my worst fears. Jobless, living in a big city all on my own and sustaining on my little savings with an uncertain future. However, I somehow felt safe and contented with myself for getting to do the things I like, such as reading and photography. I was content.

#3. Your career doesn’t define you

Yes. I have realized this the hard way. We all have this inherent tendency to use our professions to define ourselves. But is life all about careers and occupations? I realized our job isn’t who we are—it’s what we do.

Initially, I felt the need to explain people about my decision. But later I realized it does not matter at all. Quitting a full time job was my decision, and it did not matter as to what others thought about my decision. In fact, most people and even my future employers (when I interviewed for them) did not care as to whether I was just sitting idle at home or globetrotting.

Quitting a full time job (for Queen Bee syndrome or office politics) is probably one of the scariest things I have done till date. While I would not go out and blatantly, suggest others test such waters, but the overall experience is worth sharing.

I not only learned a lot but discovered another side of me – the bold and courageous side to face and fight against the odds that professional life can throw at you anytime.

So, if you are thinking of taking your leap of faith any time soon, I hope these lessons embolden you and help you see the light at the end of the tunnel.

More Jobs for Senior Management Professionals in 2017: Survey Reveals

Jobs

A latest survey on working professionals, conducted by a leading job portal, revealed senior professionals with 20+ years’ of experience will be in high demand among employers this year.

Nilanjan Roy, head of strategy, Times Business Solutions, said that while overall job creation might still remain a challenge, certain sectors will open up positions for senior professionals this year. These include infrastructure, manufacturing, and technology which is likely to boost demand for top professionals since they received a boost from the Union Budget 2017.

Roy went on to add, most of the jobs currently available range between INR 12000 to INR 15000, especially at retail or at call center level. There is a scarcity of well-paid jobs for highly-skilled young engineers who are entering the workforce every year. This percentage of the population needs to be employed, not only to commensurate their skills but also for India to become a true knowledge economy.

Key Takeaways from the report

Jobs
Img. Src. Plum.io

The key takeaways from the report are explained below:

#1. Demand of senior professionals up by 17%

The first takeaway is the demand for senior professionals and individual in the managerial position is much higher than that of mid-level employees. Sectors include law and legal services, biotechnology and pharmaceutical products. Among all the metros, the demand for senior professionals increased the maximum in Bengaluru.

On the other hand, demand for fresh graduates dropped by 10% and practitioners with around two plus years of experience has seen a drop in 7% drop in the last three months.

#2. Legal and law top hiring sector

The legal and law happened to be the top industry in terms of hiring. The demand for working professionals in this domain has increased by nearly 20%. Needless to say there has been an enormous talent demand for experienced legal professionals.

#3. Pharma, biotech and petrochemical professionals also in demand

The next major takeaway happens to be the increased demand for professionals in the domain of pharma and biotech. This segment witnessed a huge demand of 24%. On the other hand, petrochemicals and, oil and gas sector also saw a substantial demand for experienced professionals.

#4. Bengaluru witnessed huge demand for talent pool

Among all the major Indian metros, the city of Bengaluru has experienced a huge demand for professionals not only from the fields mentioned above but also from sectors like IT and ITeS. This was followed by Chandigarh and a surprise entry of Arunachal Pradesh recording a substantial demand for talent pool.

***

Source – EconomicTimes

Automation will claim 47 percent Modern-day Jobs by 2033 – Oxford University Study

Automation

In a recent study conducted by the renowned University of Oxford, it has been revealed that by the year 2033, as many as 47% of job roles will be taken over by automation.

The research focuses extensively on the hospitality industry which is expected to witness several changes in the coming future, including automation. The use of Geo-targeting and Beacons would be widely used within the industry, and this will gradually lead to change that we will get to see.

Geo-technology provides filtered, location-based information from services or devices such as iPhone or Snapchat. With the help of geo-tech, GPS we can get messages to all those people who are close by.

Automation
Img. Src. SHRM

The use of ‘Geo’ technology in the domain of online advertising substantially enhance traffic back to websites. Needless to say that it will be highly suitable for bars, hotels, and restaurants where 94% of retail spending continues to be performed in store.

Geo-technology in this segment will render excellent opportunity to attract prospective clientele who are placed near the store.

Moreover, Beacons, which are usually masts, often make use of Bluetooth, which is engineered to connect with Android and iOS operating system and conveys messages between companies and their customers. It’s somewhat like a metal detector. Suppose, you are within the convenient distance of an active Beacon, then it can send push notifications and even end up communicating with smart devices.

This is followed by the next generation Customer Relationship Management (CRM) systems that will go beyond logging customer data and behaviors. With the help of smart data and social media engagement, CRM providers such as Cluboid offer hotels, restaurants, and bars, a system that reduces time and energy of the administration and also enhances customer engagement. This CMR also makes it possible to engage in various personal experiences of customers, such as their birthdays and their choice in food.

The prediction that automation will eat up a number of jobs continues to be debated all across, and experts have their opinions regarding the same. However, while the prediction seems to turn out to be somewhat accurate in the coming future, the human touch in jobs and recruitment will continue to remain for long.

***

Source: EconomicTimes

Indian Women Entrepreneurs Who are Creating Ripples in the West – II

Women Enterpreneurs

In the first part, we focused on three Indian women, who have been able to make a mark for themselves in the US with their successful entrepreneurial ventures. We will continue with the same and focus on the stories of three more successful women entrepreneurs.

Trisha Roy, Founder, The Barn-and-Willow

A few years ago, a young Trisha (around 27–28) was busy furnishing her house in California, when she found that drapes and custom-made window treatments were too expensive to afford. Some of the customized curtains were as expensive as $10,000. This was when she was struck with the idea of starting off on her own. She made a trip to India and got in touch with a few family members who ran textile units in Kolkata and Delhi. Gradually she figured out how the supply and chain management worked and why the materials were so expensive. So, finally, she came up with the idea of launching her drapes and linen business. Thus, Barn-and-Willow came into existence.

Trisha Roy
Trisha Roy
(Img. Src. LinkedIn)

“Multiple traders in the supply chain buy from factories and mark up the cost by the time they sell to a retailer in the United States,” says Trisha. In the retail world, the markups can be more than 250 percent when they are sold to the consumer. She realized that if she could cut these three or four layers of middleman, she could solve a business problem in the USA.

She began sourcing cotton samples from a manufacturer in Tamil Nadu and the finest quality linen from Belgium. Roy gets the raw material stitched to order in a factory in Delhi.  From India, the product is shipped to a warehouse in California, and from there the final product is delivered all across the country. And guess what! The product markup is only 60 percent.

“I had never thought I would leave my comfortable job to start my own company. But my utter disappointment with the painful process of getting custom-made draperies for our home led me to start Barn & Willow.” says Trisha, a Punjab University and University of Arizona, Eller College of Management alumna.

Her first order for Barn & Willow was fulfilled in December 2014. Now her company does monthly revenues of $50,000 and the business is growing by 45%, as per reports.  She has already been featured on San Francisco Chronicle, Remodelista, Lonny Magazine, and Elle Decor. Roy, too, was picked up by 500 Startups with an initial investment of $125,000.

Yosha Gupta, Founder, Lafalafa.com

From Aligarh to Silicon Valley—Yosha Gupta’s story is as inspiring as other women entrepreneurs. A graduate in Economics from Delhi’s Lady Shri Ram College, Yosha always exhibited a daring attitude since childhood and an ability to do things on her own. Even as a child she knew that she would do something of her own, rather than working for someone for too long.

Yosha Gupta
Yosha Gupta (Img. Src. LinkedIn)

After completing college she worked as a consultant with World Bank and took her to the remote parts of countries like Vietnam, Myanmar, Indonesia and China. Eight years back, when working for startups were just being introduced, she dared to join one.

However, she continued to itch to do something on her own, and thus Lafalafa came into existence. Age was a factor that pushed her into having something of her own. She was driven by the idea to start soon before it’s ‘too late.’

Officially launched in April 2015, Lafalafa.com is an online coupon and cash back selling portal. While its operating base happens to be Gurgaon and Hong Kong, the startup is already the “talk of the town” in California’s Bay Area after being selected for 500 Startups Accelerator Programme. 500 Startups has already invested $ 125,000 in the company.

Rituparna Panda, Co-Founder, Fulfil.IO Inc.

Like Trisha and Yosha, Rituparna’s journey from Jaipur to Silicon Valley is equally inspiring. Her venture, Fulfil.IO was formed to help small businesses move to cloud and technology. She was working with a boutique upon completion of her engineering, when she realized that, those small and medium traders, across the world, lacks the required platform to manage their inventory when selling on several channels. Thus, she was struck with the idea of bridging this gap and went about building a new ERP system that could use the cloud to track inventory and orders on numerous platforms—both online and offline.

Rituparna Panda
Rituparna Panda (Img. Src. LinkedIn)

Fulfil.IO was aimed to support small businesses migrate to the cloud and mobile technology. In her words, “This was an opportunity, and it was not easy. If we could only convince SMBs to use an efficient tab-based multi-channel tracking and fulfillment system which could break legacy IT, then the idea was here to stay”.

She picked up the US as her first market, and she did reap the benefits. According to a report published by IDC, the consulting and research firm, about $161 billion was spent by US-based SMBs to modify their IT infrastructure in 2015. Needless to say, the market responded in positive.

In mid-2015, when Fulfil.IO was only a couple of months old, Rituparna made a trip to the US. She and her other co-founders discovered a tool manufacturer whose business was integrated upstream—and supplied downstream to retail stores and e-commerce platforms.

The subscription model of $1,000 a month became popular in barely eight months’ time, and the company now has more than 20 paying customers. No wonder they got picked up by 500 Startups, which seeded them with $125,000.

After following the stories of these six women, it must be said that Indian women entrepreneurs are making it big in the western hemisphere. Their journeys are truly inspiring for the next generation.