The Importance of Face-to-Face Communications When Entering the Indian Market.
Streamlining the Process of Hiring Business Representation in India.
Even in today’s fast-paced, high-tech marketplace, there is still no better form of communication than meeting people face to face and being able to do business live and in person. Breaking into the Indian market has proven quite the challenge for individuals and businesses attempting to do so remotely on their own. Generally, although in many cases, not intentionally, this leads to these individuals and companies overlooking deadlines, miscommunication with their Indian counterparts, slowdowns in response times or missing them all together based in the time difference between countries involved. The Indian businesses have always prided themselves on commitment to excellence that is still one of the attributes continuing to drive their economy. Because of this, it is very important for them to have these direct, face-to-face contacts and commitments from their foreign business partners.
There are consistently large obstacles outside businesses will continue to face before they have made these extended commitments to their partners within the Indian market. The upside however, is many of these challenges, although requiring lengthy time commitments prior to moving forward, are easily overcome should a business be willing to invest the time and capital it takes to do so. These challenges in international communication are all part of opting to remotely manage one’s business.
This, by no means, requires a business’s leadership team to be directly on the ground on a daily basis. In some instances, that goal is not feasible. Whereas, the physical presence of the business and its leadership is paramount to the success of breaking into the Indian market, there is a better option to setting up and maintaining that presence while allowing for the business’s leadership to operate regularly abroad. By providing a local presence within the Indian market to manage one’s business, SUN INTERNATIONAL comes along side outside businesses providing consistent and localized management of breaking into the Indian Market through their India Market Launch Service (IML).
India Market Launch Service
For those businesses unsure about hiring a local company to help with their integration into the Indian market right off the bat, but have made the commitment to set up a full time presence within that market, the IML Service provides mediation for such organizations and those within the Indian market itself. Mitigating overall cost and risk to the business, the IML Service aides businesses in becoming accustomed to routine situations within the Indian Market, while allowing them the continued opportunity to take their business and the Indian communities in which they serve to greater heights within the economy.
Steps IML Service will take to Ensure Initial Success
In order to be successful in utilizing the IML Service, businesses first need to identify and provide detailed descriptions of what their top candidates would look like. Armed with this knowledge, the IML Service can bring in the best-qualified and most capable candidates from the local market to team with each business in order to succeed.
From this point, Sun International ensures in-depth interviews and reference checks are completed on all potential applicants. In some instances, proposals are submitted for team members already within the business based on their overall experience.
Interview packages are then submitted to the businesses for a scaled down list with applicant’s CV’s and overall interview performance. It is important to bear in mind, with the population of India; the pool in which one might hire from could be quite large as well. Having a company such as Sun International in place saves a vast amount of time and effort for the business itself.
In addition, proposals for annual compensation packages and incentives are provide by Sun International.
As mentioned previously, because there is no substitute for face-to-face communication when looking to grow one’s business into the Indian market, companies would need to invest in traveling to India to conduct the final round of interviews themselves. If this were not feasible, at the very least, companies would need to invest in a video conference to ensure these interviews were done face-to-face, even if that one on one interview has to be completed virtually.
Similar to standard hiring practices in the United States, the final candidate is offered the position by Sun International on behalf of the business. Objectives and expectations are clearly laid out so the new team member knows exactly what the goals are from the onset. Should this candidate be internal, some of these goals and expectations may have already been provided.
Managing infrastructure, continued costs of running the business in India, as well as ensuring logistics stay on track within the businesses guidelines, are a few additional services Sun International provides once the hiring has been completed.
From that point, Sun International continues providing the business continued guidance on the ground, internal infrastructure such as office space, and overall reporting of business progress.
As one can see, the utilization of IML Services allows a business to be on the ground throughout India, while still maintaining their business abroad. Each individual client of IML Services is provided full-time staff members who keep the business’s direction on track driven by their individual knowledge of the industry and experience in working with said business.
Realized Benefits of Utilizing IML Service
Businesses are still accountable for final hiring decisions, but are given the best-qualified candidates chosen by local professionals familiar with the needs of the area.
Continued reporting and follow-up on the progress of the hired team member.
On-site office facilities for businesses to use when leadership teams visit India.
Having solid administrative, financial and support management teams on the ground.
Fee and budget structures are clearing outlined as they pertain to local investment requirements and regulations.
Well-documented reports detailing a business’s expense budget to ensure the money being spent in the process of starting this venture is being properly allocated without waste.
By using Sun International, the appointment of auditors, accountants and lawyers or is no longer needed to register the business locally, as they will manage that end of the business on their client’s behalf.
Knowledge of the local economy and the business's needs, allow the IML Service to gain a much more in-depth understanding of the market, as well as where opportunities may lie.
When required or requested, additional support and resources may be allocated to assist the new staff member.
Once the previously agreed upon time period has been reached, the new team member can transition to the businesses company which is now registers locally.
As one can see, utilizing IML streamlines the process of hiring on-site team members and getting them up to speed more efficiently, so that business can continue running at an efficient pace. Although based out of India and supported through the IML Service by a highly organized and experience staff there, the new team member remains committed to working towards the objectives and goals laid out before them by the hiring business.
Companies Benefiting the Most from IML Service Utilization.
Businesses who will realize the most benefit from utilizing IML Service are those who do not wish to invest the capital and time to register a local company within the Indian Market. These companies are not familiar with India or where, within that company, they should base their Indian operations. In addition, due to their lack of familiarity, knowing where to explore said markets also pose a challenge to these companies.
Companies investing in international markets also want to ensure the people they hire and money they invest is being managed prudently. Utilizing IML Service provides this peace of mind. IML Service also ensures the fixed expenses such as those spent on offices; vehicles and maintenance are limited in scope.
Setting up operations abroad definitely poses an extended risk to businesses, especially those looking to go it alone. Utilizing IML Service, this risk is not eliminated, but is greatly reduced via a cost-controlled presence in the local Indian markets. There is also cost-savings involved due to IML Service’s knowledge of the local market allowing businesses to quickly and efficiently enter the market without having the business itself invest in getting to know all of the local codes and regulations. IML knows this already and can provide in-depth overviews to the business to increase their upfront awareness of the area.
Because they are already on the ground, IML Service can and continues to explore growth opportunities for local business teams. Ultimately, if more businesses opt to operate out of India, the more business there is coming into the local economy. This only helps to drive continued economic success, and with that in mind, Sun International has it in their best interest to make sure they help outside businesses succeed within India.