In conversation with Amit Nagpal, the founder of Green Bridge & Yudlee, he is an HR Professional with over 18+ years of experience. He has worked closely with the global teams spread across, UK, US, MEA, ANZ and ASEAN, which has helped him to understand the diverse HR cultures and backgrounds. In 2018, Amit started his journey as an entrepreneur to bring sustainable and trusted solutions to the businesses and this helped him to build his skills around the development of more effective approaches & models for HR businesses.
Excerpts from our exclusive interview with him:
What is the idea behind Yudlee?
We wish to transform ’employees’ to be the next-gen of ‘entrepreneurs’ and allow them to explore themselves instead of just pursuing limited career options, which at times is restrictive in nature.
Together, we started with an idea of ‘Exploring the New ‘U’!
How this idea will contribute to the corporates?
We are creating and helping organizations to build an ecosystem to support a self-sustainable global marketplace for experts and employers, who are fit for the assignment and making engagements effective, which will generate the desired results, seamlessly.
We have envisioned building the ‘Future Code of Work’ by making organizations and talent future-ready, ease of availability, and secure.
In today’s era, how can organizations be dynamic in their HR approaches to enhance their ROI?
Organizations should focus on bringing in entrepreneurs rather than employees to bring ownership into their age-old system of full-time employment as the only preferred option.
Rather, it needs to be more dynamic and an easy way to bring in the ‘on-demand’ expertise instead of investing in training to wait for their Return on Investment.
Explain to us the term “Gig Economy” & how Yudlee is contributing to this phenomenon?
‘Gig Economy’ is the future of how talent is going to be engaged. It is a global phenomenon with the rise in the number of freelancers who have chosen gig working as their full-time career options.
Moreover, after the disruptions brought in by the Covid-19 pandemic, the gig ecosystem is more powered & immensely accepted around the globe. At Yudlee, we have realized that a gig-based economy is a reality and offers the most practical solution for companies to meet their goals more practically and efficiently.
What was your vision behind incorporating Yudlee?
Yudlee has been my vision to bring global talent under one umbrella and continue to create growth opportunities and help explore the new ‘u’.
We help organizations to systematically assess and transform their current full-time roles into freelancers based roles, essentially creating an entire ecosystem including policies, benefits, compensation and change management. This is an end to end support and relooking at the organization’s future strategy.
How can companies adopt the Gig Economy Model, such that it adds value & also benefits them in cost-saving?
The hiring strategy, which is currently dependent on the ‘source mix’ that indicates from what sources the companies hire, should also have an element of full time versus contingent/temporary workforce and more the number of temporary resources, it should be depicted as a healthy sign.
Organizations need to relook at the roles which are seasonal and do not require a full-time position, at the same time., there needs to be some questionnaire or indicative data points which triggers whether the role can be temporary or full time. This will result in huge cost savings and augment the value of the task assigned.
What factors should be considered before opting for freelancing?
Freelancer assignment is best suited when we have targeted deliverables and there is a deadline or a set calendar is followed, freelancer steps in and strategies are converted into actions.
How freelance ecosystem benefits both the companies & experts?
We believe that every person on this planet has a unique skill however due to limited opportunities, people are stuck into a monologue and doing the same things throughout their career and it will not be wrong to say, what is being told by their organizations, which has led to dissatisfaction concerning their role.
It is obvious that since the company hires for a particular role or I would like to say for a specific task, it is impossible to break the chain. A freelancer based ecosystem creates opportunities for both companies and individuals to explore each other in a more innovative way than restricting to a job description.
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