A Study on Managing Workforce Ecosystem of the Budding Start-up in India
Abstract
Managing the workforce ecosystem of a budding start-up in India can be a challenging task, but it is crucial for the success of the business. In this context, it is important to understand the needs and aspirations of the employees and create a work environment that promotes collaboration, creativity, and innovation. Effective workforce management involves recruiting and hiring the right talent, providing them with adequate training and development opportunities, creating a positive work culture, and maintaining open communication channels. Employee engagement and motivation are key factors in the success of any start-up, and it is essential to offer competitive compensation, incentives, and benefits to attract and retain the best talent. Moreover, in India, start-ups face unique challenges such as a highly competitive job market, skill shortages, and a diverse workforce with different cultural backgrounds and expectations. To navigate these challenges, start-up leaders must be adaptable and flexible in their management style and strategies. Overall, managing the workforce ecosystem of a budding start-up in India requires a combination of empathy, strategic thinking, and proactive measures to create a conducive work environment that fosters growth, innovation, and success
References
Dickmann M, Cooke FL, Parry E. Building a sustainable ecosystem of human resource management research: reflections and suggestions1. The InTernaTIonal Journal of human resource managemenT. 2023 Feb 4;34(3):459-77.
Building a sustainable ecosystem of human resource management research: reflections and suggestions1 [Internet]. The International Journal of Human Resource Management. 2023 [cited 2023 Apr 29]. Available from: https://www.tandfonline.com/doi/full/10.1080/ 09585192.2023.2165011
Deloitte. 5 Characteristics of Workforce Ecosystem Leaders [Internet]. WSJ. 2022 [cited 2023 Apr 29]. Available from: https://deloitte.wsj.com/articles/5-characteristics-of-workforce-ecosystem-leaders-01668455669
Cooke FL, Saini DS, Wang J. Talent management in China and India: A comparison of management perceptions and human resource practices. Journal of World Business. 2014 Apr 1;49(2):225-35.
The Future of Work is Through Workforce Ecosystems | ELLE Education [Internet]. Elle.education. 2023 [cited 2023 Apr 29]. Available from: https://elle.education/en/business/the-future-of-work-is-through-workforce-ecosystems/
Altman EJ, Kiron D, Schwartz J, Jones R. The Future of Work Is Through Workforce Ecosystems [Internet]. MIT Sloan Management Review. 2021 [cited 2023 Apr 29]. Available from: https://sloanreview.mit.edu/article/the-future-of-work-is-through-workforce-ecosystems/
Motoyama Y, Knowlton K. Examining the connections within the startup ecosystem: A case study of St. Louis. Entrepreneurship Research Journal. 2017 Jan 1;7(1).
Cautela C, Mortati M, Dell'Era C, Gastaldi L. The impact of artificial intelligence on design thinking practice: Insights from the ecosystem of startups. Strategic Design Research Journal. 2019;12(1):114-34.
Ojaghi H, Mohammadi M, Yazdani HR. A synthesized framework for the formation of startups’ innovation ecosystem: A systematic literature review. Journal of Science and Technology Policy Management. 2019 Nov 20.
Wulandari AD, Subriadi AP. Preparing the Startup Ecosystem for Building a New Startup Business During Pandemic: A Systematic Literature Review. International Journal of Electronic Commerce Studies. 2021 Oct 21;13(1):137-60.
Korreck S. The Indian startup ecosystem: Drivers, challenges and pillars of support. ORF Occasional Paper. 2019 Sep 12;210.
Boni AA, Gunn M. Introductory Overview to Special Edition-" Building and Leveraging the Innovation Ecosystem and Clusters: Universities, Startups, Accelerators, Alliances, and Partnerships". Journal of Commercial Biotechnology. 2021 Mar 1;26(1).
Muathe S, Sang P, Kosimbei G, Letema S, Nyachae S, Kiriago S, Chelule K, Ouko E, Mutua M, Maina S. Understanding Startups Ecosystem in Kenya: Drivers, Challenges, and Opportunities. Journal of Business and Management Sciences. 2022;10(3):138-46.
Cheah S, Ho YP. Building the ecosystem for social entrepreneurship: University Social Enterprise Cases in Singapore. Science, Technology and Society. 2019 Nov;24(3):507-26.
Kamariotou M, Kitsios F. Bringing Digital Innovation Strategies and Entrepreneurship: The Business Model Canvas in Open Data Ecosystem and Startups. Future Internet. 2022 Apr 21;14(5):127.
