India’s growing start-up and e-commerce industry holds tremendous potential for India’s economic growth.
India’s growing start-up and e-commerce industry holds tremendous potential for India’s economic growth. At the same time, it has also boosted the idea of ‘entrepreneurship’ in the nation’s collective vocabulary. The rapid scale in technology-backed start-up businesses is an ode to the nation’s growing self-reliance and risk-taking ability as it creates future entrepreneurs.
As per industry analysts like Morgan Stanley, the e-commerce sector in India is poised to become a $119 billion industry. The opportunity to script this rapid growth story has made it a preferred career destination among the country’s workforce. Today, as the sector evolves and matures, its roadmap is paved by the dreams of an agile, focused and ambitious workforce that values the potential of rapid growth. Further, the opportunity to explore unchartered territories has given great impetus to the movement of talent from diverse professional backgrounds to the sector, with one of the biggest lures being the immense scope to put ideas to practice.
This aspect, in particular has helped e-commerce attract best quality talent from India and abroad. Lacking the bureaucracy, rigidity and hierarchy often found in established businesses, it gives more room for audacious, game-changing ideas. A vibrant environment like e-commerce also offers intense exposure to all the fundamental skills needed to build a business. There is a reason why many e-commerce employees go on to start up their own flourishing businesses. Therefore, for individuals seeking expertise in a range of cross-functional domains in a short span, this is the perfect foundation. It allows one to piece together the puzzle that creates an entire business ecosystem. Dynamic roles that touch aspects ranging from product marketing, supply chain, pricing and profit management, customer acquisition, cross-selling, up-selling, customer service are a source of tremendous all-rounder ‘practical’ learning. One dominant and reassuring feedback we receive from employees is that with the exposure and experience they have been able to gain compares to multiple years spent elsewhere.
The real measure of an organization’s culture is in how attuned the employees feel to the organizational culture and its impact on their individual growth. E-commerce in particular is the perfect fit for those who enjoy challenge, change and flexibility. An employee who is comfortable donning multiple hats will thrive in the nimble environment of the sector.
One of the greatest benefits of performance-focused culture is the transparency that it accords to employee feedback and appreciation. Measures like a quarterly review cycle, as opposed to an annual one, help employees stay agile and aligned to the business goals, while staying cognizant of the changing business environment. In this context, rewards like performance-linked ESOPs have been one of the most disruptive offerings by the sector, allowing employees to be true owners of their success story.
The Indian e-commerce landscape is an interesting story in the making. For thousands of talented individuals in the country, it will not just be a career opportunity but the playground to create a new wave of business success. This posits great faith in home-grown business models that are consistently building an innovative and future-ready business atmosphere in the country.
(Saurabh Nigam is VP – HR at Snapdeal)