NeoGrowth features in “The Business Journals”

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(An excerpt from the main article published in www.bizjournals.com)

Doug Galen, CEO of RippleWorks recently spoke about the biggest challenges entrepreneurs are facing around the world. While funding is always at the top of the list, there is one challenge that gets increasingly difficult over time: the ability to attract and retain talent with the right experience and expertise to bring these enterprises to scale.

“Over 75 percent of funded, early-stage entrepreneurs say that not being able to access the talent they need will have a crucial impact on their growth,” said Galen. “As a result, budding entrepreneurs need mentors, expert advisers, and other sources of outside help to address their immediate challenges.”

RippleWorks, with analytical support from McKinsey and funding from Omidyar Network, recently surveyed more than 600 social entrepreneurs around the world and captured the perspectives of CEOs, funders, and intermediaries to release a report, The Human Capital Crisis: How Social Enterprises Can Find the Talent to Scale that offers a glimpse into the talent challenge and ways to overcome it.
Here are three ways entrepreneurs can find the talent they need to scale their businesses.

1. MAKE HIRING AND RECRUITING A STRATEGIC PRIORITY

Just as entrepreneurs envision growing their businesses, they need to anticipate future hiring needs. They can’t afford to wait until they have market demand – they need to forecast and understand the process of sourcing, recruiting, and hiring qualified candidates.

And since budget constraints are often a fundamental limitation, it’s important to win talent by thinking beyond compensation. Entrepreneurs need to plan well in advance, devote strategic effort to recruiting, and sell jobs to candidates through a strong employee value proposition.

2. DON’T JUST TRAIN EMPLOYEES, GROW LEADERS

Senior and middle managers are the most critical hires but also require the most difficult and time-intensive process to secure. Galen notes that most of these positions can take from three to six months, or even up to a year, to fill, which is time most start-ups don’t have. Entrepreneurs therefore need to equip themselves to meet their future leadership needs by making training and development a core competency of their business.

In the report, 38 percent of companies surveyed revealed that their preferred approach to addressing skill gaps is by training their current staff – stating that funders need to actively support leadership development programs, especially for middle management, to create the long-term executive teams required to scale their startups

3. LEVERAGE MENTORS AND ADVISORS FOR YOUR CHANGING NEEDS AS YOU SCALE

In addition, using the expertise of seasoned business and technology experts can play an important role in bridging short-term human capital gaps.

Business leaders who have scaled world-class companies like Google, Salesforce, and Airbnb are starting to pair up with like-minded social entrepreneurs tackling the world’s toughest problems. These expert volunteers partner with ventures, virtually working with them around their day jobs before visiting on-site for a week. They provide exactly what social entrepreneurs need: help solving critical challenges while transferring knowledge to further build the company’s human capital.

One example of a Silicon Valley executive who is helping to make a difference is Kayti Sullivan, a vice president of sales at Yelp. Sullivan has been with Yelp since 2007 and knows first-hand what it’s like to scale a company from the ground up.
Through RippleWorks, Sullivan partnered with NeoGrowth, a fast-growing company that uses technology to unlock access to short-term loans for small businesses in India, a country that has never had access to formal lending with more affordable rates. Together, their team increased revenue growth through a cost-effective, technologydriven sales strategy that has enabled NeoGrowth to partner with 2,300 small business merchants to grow their businesses.

“We need more leading entrepreneurs to recognize that they can help make a difference around the world with the skills that they have accumulated over their careers,” said Galen. “By working with inspiring social entrepreneurs to address interesting and pressing challenges, they can play a pivotal role in the growth of some of the world’s most impactful startups.”
Read the complete article here:

http://www.bizjournals.com/bizjournals/how-to/human-resources/2016/11/how-to-overcome-the-human-capital-crisis.html

Rajan Pundhir joins NeoGrowth as Sr. Vice President – Sales

rajan pundhir

Rajan Pundhir has joined NeoGrowth as Sr. Vice President – Sales. He had been associated with Housing.com as Business Head and Core Team Member where he played an important role in their rapid business expansion, creating new product, executing expansion strategy as well as developing processes, frameworks & team for supply, demand, and monetization. He also created an additional direct sales & operations channel for expansion on revenue share basis.
Rajan has also worked with Reliance Industries Limited as part of Reliance Petroleum which he joined in 2002. In 2008, he moved within the Group to Reliance Communication, and was designated as Vice President Sales & Distribution. He developed the AOP (annual operating plan), channel sales strategy, managed daily operations, did competition benchmarking and created innovative products/promotions to grow business. He managed functions across franchising roll out, Modern Trade & Strategic Alliances, Direct Sales & Ecommerce business at the national level. Rajan did his B. Tech in Mechanical Engineering, and later his Master’s in Business Administration from Institute of Management Technology, Ghaziabad. Rajan brings with him a rich and diverse experience across industries and functions

We look forward to a long and rewarding association with him.