Navigating Workforce Trends: How Rapid’s Vision and Innovation Are Shaping India’s Business Landscape
CXOToday has engaged in an exclusive interview with Mr. Navin Rungta, Founded – Rapid
Navin – Working on both sides of the table has given me perspective and insights about expectations, fear, and standards that people have when it comes to compliance, legalities, and IP protection. While working at eLagaan, which also offered EoR as a service, I got to interact with many companies who wanted to set up an Indian team quickly but were frustrated with long waiting times (6-12 months) and also I can see their face while trying to decode Indian laws & compliances. No one wanted to spend any time or bandwidth on these. While India offers the highest quality talent base, the complex nature of the legal system was a big factor for many global companies to stay away. That’s how Rapid was born, a tech platform that takes care of all legalities, compliances, and other nuances of running an Indian team compliantly while allowing to engage with Indian talent in the most seamless fashion (in under 5 minutes). At Rapid, we envision to enable tapping into Indian talent in the most seamless and compliant way thereby making an impact at the ground level.
2. How has the COVID-19 pandemic reshaped the global and Indian workforce, and what lasting impacts can we expect in terms of remote work and digital transformation?
Navin – The pandemic has been great for the tech space. People discovered that a lot of work can be done remotely and multiple infrastructures and processes were designed to make it happen. This opened a floodgate of demand for Indian talent which was already known to be of the highest quality but were not being offered because of in-person requirements. This trend shall continue to stay and more and more companies are now looking to have a presence in India for quality, time zone advantages, and very importantly cost. As the world has started talking about moving to an in-office culture again, this will not impact India’s demand, as the work will still be handled remotely but in offices in India. Rapid is the only EoR in the world, which allows businesses to set up offices anywhere in India in a compliant manner.
3. What role does automation and artificial intelligence play in workforce trends in India and around the world? How is it impacting job creation and displacement?
Navin – Automation and AI have been in Indian labs since the early days. It’s known that Ai is gonna eat a lot of mundane jobs over the next 5-8 years. At the same time, AI is also gonna create a lot of new opportunities and scale which has not been seen till now. The world is also moving towards a Global village concept. The kind of infrastructure (skilling, upskilling, and re-skilling) that India has created and continuously improving on it, is gonna help Indians stay on the front line of any challenges and the tech industry shall continue to be dominated by more Indians than any other ethnicity.
4. How does Rapid’s simplified compliance with government policies and regulations in India positively influence workforce trends, and how does this streamlined approach compare to international labor standards? What is Rapid’s USP?
These features are not available with any other EoR. Rapid is deeply focused on India and hence has designed solutions keeping in mind the real challenges global companies face while entering and running a team in India.
5. In what ways are Indian companies leveraging data analytics and artificial intelligence to optimize talent acquisition, workforce planning, and employee engagement, and how does Rapid align with global HR tech trends?
