Digital learning and education have become a norm across the globe; in India, however, this norm has become an all-encompassing part of a student’s life. Today, students are seen enrolling in different learning platforms, taking to new courses offered by digital learning programs, and also using apps that enhance their learning and knowledge. The question, however, is, who has benefitted from this so-called successful digital learning model? The debate as to whether students have benefitted or not will end. On the other hand, edtech companies sure seem to have gained from this model of digital education.
Edtech companies seem to be getting everything right in terms of the number of students enrolling, the revenue being generated, and the heights of success that they tend to reach. Quite a rosy picture it seems to be. But, is it actually the true one?
Today, we hear of many big names and players in the edtech industry laying off their start and even shutting down shop. Why? This can be attributed to the poorly planned recruitment and hiring process.
When edtech companies enter the market, they are able to market their products in an attractive manner and are able to target the right audience, thereby ensuring they are able to generate steady revenue. This in turn leads to their expansion and also helps the edtech companies to get the necessary funds to manage their operations. With the funding available, these edtech companies hire personnel for any possible operation they can think of- management, teaching, administration, financing, human resources, and any possible function they can think of including in their organization. In addition, they also offer good salaries and incentives to enable acquire a lot of people. Therefore, edtech companies are able to hire, what can be called a horde of people doing various tasks; although, such a large number of people may not be needed. This implies that edtech companies because of the available funding do not plan their recruitment process in an efficient manner and end up with more people than they can handle.
As the companies continue operations, they tend to fall in the pattern of specific types of operations-get students enrolled, help them with learning material and generate the required revenue. This also implies that the scope of operations and functions of the edtech companies is limited-at least, not as huge as a multinational-and so, it can do with a smaller number of personnel. In essence, the hiring process of edtech companies is targeted at hiring people but not quality people; these companies hire a lot of people to do the job where just one person with enough talent can do multiple jobs. A lack of insight into the talent needs and acquisition of the required talent poses several problems for edtech companies.
Over time, when the competition increases and edtech companies face decline and are unable to make steady profits and revenue, and their fund also decreases, they turn to the fire of employees. This not only earns them a bad name but also makes it impossible for them to hire new personnel. Thus, the edtech company eventually is unable to thrive in the marketplace.
Therefore, for edtech companies, it is of utmost importance to develop an insight into the talent needs of the company and only then recruit personnel that can help the company gain a sustainable competitive advantage.
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