With the advancement of technology in every field, many SME’s are evolving with a different approach to manage a specific business. One can manage the same business with different technologies and strategies that will lead to an increase in the number of SME’s across the globe. Increase in the size of SME’s has created a lot of HR opportunities now and also for the future. Let’s take a look at a few of them:
What’s the role played by SME’s in India?
- MSME’s growth has been massive in size since 2001,it has grown from 16 million to a record 51 million today.
- 40% of the workforce in India is in the SME segment
- The contribution of SME’s is greater than 8% of the total GDP of India
- A separate MSME ministry has been established by the government of India
How can one benefit with these HR opportunities?Let us look at the narration of a day in the life of a CEO of an SME: Rahul started his business with 20 people, with a target to aggressively develop business in the future. One day, when he came to office in the morning, he found a queue of people lined up for an interview, which he finished quickly and gave his input to his operations manager who had come for taking his assistance on grooming his team members. Now it was time for lunch, he called all unit heads for a meeting who assisted him in his operations, sales and support to discuss about the recruitment of human resources, and the level of talented professionals they needed in order to compete with the competitors in the market. They came up with a solution to set clear job roles and contact various HR consultancies for a job portal assistance. During the next half of the day, he attended a meeting with a client to resolve the customer issue which was pending.The issue was a delay in delivering timely assistance which resulted in the withholding of his payment. The purpose of the meeting was to resolve the issue, develop standards and work on building customer satisfaction. After his return from the office, he gets a notice from the statutory authorities on compliance concerned to Labor laws. A consultancy called him to resolve the compliance issue. At the end of the day, Rahul sent a motivational keynote to all his employees for the development of individual and organizational growth.
This above story narrates how a CEO of an SME has to deal with different people in his day to day life. With this narration, you can easily understand what the need of an HR is?By understanding the opportunities of HR business with SME’s you can easily come up with a business where you can find a good scope to grow in the HR market. Unlike other businesses, HR businesses have different opportunities that you can get in order to provide HR specific services. You can start HR business irrespective of your background in any field. Currently, more than 40% of the companies do not have a properly defined HR structure. You can imagine how progressively you can implement this by commencing your HR business in India. We can’t predict the exact figures on HR developmental budgets, but with 51 million SME’s, it can be estimated up to 1.3 billion USD in India (let's assume 1.2lacs PA by an SME).
Opportunities in HR business at SME’s:As HR services are classified into different segments, having good exposure in any of the segments is sufficient to commence a business in it. Husys is the only listed organization among the SME’s that deals with different segments of HR Consultants, Recruiters, Trainers, Payroll Vendors & Payroll IT package vendors operating in the space. You don’t need to have additional resources to start your business, Husys has provided an option of the franchise in different HR segments. You can take this as an opportunity and build your future. With the introduction of automation in HR services, business in SME’s is going to be the game changer for the future.
Who can opt for these opportunities?Irrespective of your professional background, you can jump into this HR business. This is the way, a professional in different fields can make a revolution in HR business space:
- Finance/Accounts Professionals: Best fits for Payroll/ statutory management services at SME.
- Sales Professionals: Best fits for the recruitment business at SME
- Business Operations Professionals: Best fits for the analysis of employee performance and providing appropriate training and development in coaching and mentoring at SME’s
- Customer Service Professionals: Best fits for employee engagement at SME
- HR Professionals: Best fits for organizational development initiatives, policy, process and cultural building with an assistance of above professionals’ expertise.