Here’s How Companies Come up with Way to Survive During Lockdown

Business models have been altered and services modified to become relevant to the current demands
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • May 11,2020
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  • 14 Mins Read

Owing to deadly Coronavirus, the Indian economy has come to a standstill. Companies, markets, schools, temples and all other congregation areas have been shut, diminishing revenue in the country as a whole. To avert financial crisis like situation, the government has begun easing restrictions for businesses that do not deal in essential items. It is one of the primary steps to hold a staggering economy. 

Alongside this, businesses are also working proactively to mitigate bad effects of the lockdown. To keep entrepreneurship roles soaring, the Indian preschool chain, Cambridge Montessori Preschool has lately proclaimed employment schemes for women during the present time.  

The preschool is led by Cambridge Montessori Pvt Ltd and CMPS Preschool Pvt Ltd.

Providing Free Franchise and Other Benefits to Entrepreneurs

In the wake of COVID-19, entrepreneurship roles, as well as employment, are fundamentally hammered. To counter this, the preschool chain has started an initiative to help the economy by proclaiming its scheme, YOUR SCHOOL OUR INVESTMENT. This scheme will facilitate the entrepreneurs to augment their skills by rendering quality education. Furthermore, it will tend to  soar employment opportunities for women in the country, reported Press Trust of India (PTI). 

With this move, the entrepreneurs will be offered free franchises alongside digital and marketing aid to expand their business. Keeping to the government regulations for Coronavirus, the preschool chain will be keeping their campus properly sanitized. The classes will also be conducted by complying with social distancing norms. 

"With the major effect of COVID- 19, the economy is falling on the lower side. The concept of YOUR SCHOOL OUR INVESTMENT, they aim to create maximum entrepreneurs in India by making their dream come true of running a successful preschool. They are also committed to providing a world-class curriculum and a sound foundation for young children embarking on the journey of creative learning," Sutapa Ghosal, Chairman of Cambridge Montessori Preschool, said while addressing the media.

"Apart from employment and generating entrepreneurs, the preschool chain will also keep a track of student health and hygiene by adding a certified dietitian to keep the health of the toddlers on track," Ghosal added. 

Complying to the government's request to not do pay cuts, the preschool chain has planned to pay full salaries to the teachers and other staff during the lockdown. It is in a bid to stimulate teachers towards the growth of students.

Hiring Process has not Ceased During Lockdown 

Financial solutions provider, Razorpay has proclaimed that it continues to recruit professionals for important roles beyond Product and Engineering teams. Owing to the restriction imposed on normal functioning of businesses, numerous enterprises are rather adopting online payment methods. Currently, the company is hiring for more than 50 vacancies across segments like data science, backend, product management, and frontend to meet increasing demand and also provide seamless online transactions to its partner businesses. 

"The way I see it, the FinTech sector is at its exciting best right now as everyone wants to have an e-commerce presence. While there are massive layoffs happening around, we see this as an opportunity to hire great minds and make quality additions to build a league of next-gen payment and banking solutions to help with the current circumstances. With business demands and behaviours changing rapidly during this time, we are hiring for critical roles based on how productive a role can be to the company and the industry at this point. New team members come with a particular brand of enthusiasm and energy, and as a fast evolving organization, there is a constant desire for relentless enthusiasm and quality skill-set to supplement these new roles and functions," Anuradha Bharat, Head at People Operations, Razorpay said in the company’s official statement.

"With a new digital world in order, we are seeing an emergence of skills revolutionising the fintech space, and this rapid technological disruption means that new skills will emerge as fast as others become old-fashion," Bharat added. 

The fintech company asserts to have a growth rate of 35 per cent month-on-month,  witnessing an increased demand for digital payments especially from tier-2 and 3 cities. In the last twelve months, the company has more than doubled its headcount from 330 to 770. In the last six months, the company increased its headcount by about 15 per cent and fortified its leadership team across business and engineering teams.

 

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