MUMBAI: Driven by health and safety compliance norms and other emerging requirements in a Covid-19 environment, the electronics security solutions market is witnessing a new wave of growth. Whether it’s hardware solutions for face recognition, body temperature scans or detecting if an employee is wearing a mask at the entrance, companies are going all out to purchase these products.
Prama HikVision India, a video security solutions provider, is one such company. Its MinMoe terminal uses deep learning algorithms for face recognition and scans body temperature. MD & CEO Ashish Dhakan said, “The Indian electronics security market is expected to grow at 25% CAGR (compounded annual growth rate) in 2020. This growth will be driven by health and safety compliance norms and emerging security requirements.”
Zenatix CEO & co-founder Rahul Bhalla said, “Customers right now have a low risk appetite and are looking at our products as a ‘must-have’ than one that is good to have.” Zenatix, part of Hero Electronix, offers IoT (internet of things) products. It has an access control solution called ZenSafe, which is cloud-based and allows personnel to control multiple terminals, while integrating with the company’s existing HR management solution over standard APIs (application program interfaces). For on-field workforce, like delivery agents and factory employees, the company also offers a wearable called ZenMonitor that sends body temperature readings to the cloud via its companion app.
Hardware solutions are being considered alongside virtualised HR services, with large enterprises increasingly turning to workforce management solutions to deal with the challenges brought on by the lockdown, social distancing norms and its employees working remotely from home. Despite the economic slowdown and tightening of budgets, decision makers are not wasting any time in ensuring that areas pertaining to employee engagement and communication are given more priority.
Solution providers are seeing an increased demand for their existing line of services as well as new ones. “The entire HR automation space for Asia alone, in the pre-Covid scenario, was pegged at Rs 27,000-30,000 crore. Now with Covid-19, it is expected to grow three times in 2020-21 itself,” shared TeamLease VP & business head Kaushik Banerjee. “Out of this, India will be looking at $1 billion (over Rs 7,500 crore), according to an HR survey. In the post-Covid scenario, market growth is expected to be 2x in India.”
Automated IT processes for onboarding/offboarding employees, holding video-based interviews and conducting learning sessions have been in existence for some time now. However, there has been a significant uptick in this area due to the lockdown.
“Our inbound enquiries have increased by 2.5 times over the last two months, when compared to what it was pre-Covid. As a result, our yearly revenue estimates have increased by 150%,” said Kiran Menon, CEO & co-founder of Tydy, a company that provides HR automation solutions. “We are getting inquiries from large startups as well. Traditionally, only enterprises cared for such services.”
Prospective companies are also making decisions faster. “Earlier, negotiations would take up to three months. Now it has come down to 1-3 days,” said Banerjee.
Amara Raja Group, for instance, had to adapt quickly to the lockdown. The company, which has a 16,000-strong workforce, already had certain HR solutions like recruitments, information access, e-learning and internal collaboration in place. However, this mostly covered its 3,500 white-collar employees only.
“A 3- to 5-year implementation was planned to include the rest of the workforce. But the lockdown and Covid situation have made us advance our plan. The company has already extended its We@AR location-tracking and Zippi collaboration platform to all employees, even those who have moved back to their native place. This two-way communication has helped ease anxiety and raise morale of the people,” explained Amara Raja Group president (group HR & new business development) Jaikrishna B. The company also had to deploy a people safety management app for the 400-500 still working on the ground during the lockdown.
What is relatively new is the way documents are shared, social interaction is controlled and hardware solutions are installed to monitor employees. “Collecting documents through emails or e-documentation portals, plus e-KYC, is being extensively used,” said Banerjee.
Tydy also included a scheduling aspect to their solution to know which employees are visiting their supervisor and at what time. IT asset allocation has also had to be re-architected, where the company has had to devise a way to have essential equipment sent to an employee’s home.
This article was published on Times of India