Human Resource Management is one of the critical functions in the company as it is always the `people' in the company that drive the growth. Hiring the right talent, at the right time to assist with the organizational need is tricky. And the gap of meeting the right talent for the right role is more evident in the SME sector in India.
Let's take a look at the current Human Resource Management (HRM) landscape for SMEs in India. There has been a meteoric growth in start-ups and SMEs in recent times and due to this spike, the need for skilled talent is at an all-time high. Human Resources Consulting and Management's primary role is to bridge this widening gap by translating the company's vision into a structured, progressive, and right-fitting team.
These start-ups at times, may not have an adequate budget to opt for a systematic and industry best practices approach in filling job roles. And that's where Intellectual Capital has created a niche providing structured, quality and, best-in-class consulting services to start-ups and companies who are on fast-track growth.
In 2002-2003, consolidation of industry sectors was rampant and there were new sectors that needed a structured approach to fulfill new job roles. Seeing the need to support new sectors with structured HR support, Mr.Gaurav Kumar was instrumental in founding Intellectual Capital.
With almost two decades of successful experience on hand, Intellectual Capital continues to provide its expertise to companies experiencing meteoric growth in the most cost-effective way so the start-ups and SMEs do not have to trade off limited resources for structured development.
Intellectual capital started by offering its services to the financial sector and expanded to Real Estate and Construction sector by 2006. Today, Intellectual Capital is the go-to HR Management Consultancy for start-ups to law firms and other high growth organizations.
"When we began our journey in these sectors way back when most established HR consultants were skeptical in venturing into these sectors. Over the years, these industries have matured and more opportunities have opened up. Intellectual capital works very closely with the clients to help them redefine careers of the deserving workforce and attract the best talent to their companies,” shares Gaurav Kumar, Founder at Intellectual Capital.
So what were the challenges Intellectual Capital faced when they experienced high growth too?
Ms. Priyanka Pradhan, Director of Intellectual Capital clarifies, "Initially we
were a pool of growth simulators in exploding sectors, and retaining our talent was a challenge. We shifted our emphasis towards a strong variables model coupled with exciting vacations for performers which in-turn pushed them towards excellence.
"With an agile and futuristic outlook, Intellectual Capital has adapted swiftly to share profits with the team. Most of the senior team members have been together for a long time and understand the ethos of the company.
Sharing further insights, Mr. Gaurav says, "Using management principles and best in the industry guidelines, we came up with a framework that takes in the brief outline of the aggressive growth plans and exploding ideas of our clients and funnels them into objective briefs. These objective briefs are then mapped with the reality of the available resources in the shortest possible time and cost. Intellectual Capital approaches client mandates with detailed briefs to be on the same page with the client followed by in-depth competition mapping. This helps the client to get a clear understanding of the talent pool and make a right informed decision."
Intellectual capital offers best-in-class HR services to Startups, Real estate, and Law firms in India. Their clients get tremendous value from the robust industry database and in-depth industry research which is Intellectual Capital's signature offer
An in-depth understanding of the niche sectors has helped them grasp the business need of the clients resulting in getting the deserving person on-board successfully. Intellectual capital has created a robust database of skilled talent and has access in-depth industry research to add value to its clients. In certain cases, for a specific business need, the firm maps its global talent pool to get the right talent for its clients. "Operating in niche high-beta asset sectors and high-growth startups, with our in-house structured approach to HR services makes us the most preferred HR partner for our clients. Our services include talent acquisition, compensation surveys, recruitment process outsourcing (RPO), HR outsourcing, outright sale of recruitment database, and more. Knowledge-driven HR services have always been our mantra which has helped us propel ourselves in desired industries," equips, Mr. Gaurav Kumar.
With internal software to organize and accurately access data as per the need of the business, Intellectual Capital has created an independent revenue stream to supply the clients with a focused database of relevant candidate profiles so that they can continue to connect and reap the benefits for mass recruitments for similar skill sets. Equipped with an outstanding workforce as a key asset, Intellectual Capital has consistently invested in upgrading them technologically and honing them with requisite skill sets. "In the future, we would like to have niche job portals in specific sectors whereby fractional ownership of our dynamic database and our market insights will help our clients to reduce the HR costs to less than a quarter. We are also in process of developing a standardized HR manual for budding startups to kickstart their HR processes while launching their organization at a penetrative cost," concludes Ms. Priyanka Kumar.