KarmaV, an AI-based SaaS platform aimed at addressing diversity, equity, and inclusion (DE&I) status, has made an announcement about entering India’s developing HR tech market. The business intends to take advantage of India’s increased emphasis on putting in place effective talent acquisition and retention strategies by creating inclusive and varied workplaces.
This will fill the demand gap for HR automation that goes beyond process efficiency. With its sophisticated academic infrastructure, India has recently become one of the most talent-rich nations. Corporate India has expanded its attention to creating equitable and inclusive workplace practises that give workers from various areas and demographic groups equal access, opportunities, and a sense of belonging to work together and contribute to the organisation’s growth. Even so, the process was still limited to resource-intensive surveys, audits, and mentoring programmes with a modest success rate, despite the greatest efforts and millions of dollars poured into DEI activities. 85 percent of young workers between the ages of 18 and 24 feel that there aren’t enough policies promoting diversity and inclusion, and 82 percent believe that there is an unjust gender wage gap.
KarmaV is attempting to overcome this obstacle. By addressing pay discrepancies, improving career prospects, and promoting skill development, it offers workforce transformation solutions that enable organisations to reduce their attrition rate by 30%. The platform has also collaborated with business and academic experts to undertake pilot programmes that have improved the calibre and diversity of hired applicants by 40%.
Ujjal De, founder and CEO of KarmaV, commented on the news by saying: “The gap between what employees and employers expect is growing significantly, and while there has been an increase in HR technology solutions that help streamline processes, it frequently comes at the expense of employees’ well-being. Additionally, as India’s reputation as a talent centre grows, it is even more important for businesses to build inclusive workforces that place an emphasis on the overall wellness of their workers. We are excited to start this adventure in order to address this difficulty with our entry into the market.
“During my time working for large corporations and as a woman entrepreneur, I have experienced several unconscious biases that could have been easily avoided with some awareness,” Madhura Moulik, co-founder and CMO of KarmaV, continued. An awareness programme’s drawback is that it cannot promise the proper outcome at the right moment. Therefore, I support the new technology that will enable us to treat individuals of all genders, races, ethnicities, religions, ages, cultures, and much more with greater respect and inclusion.
The modern Indian workforce needs a flexible, digital workplace that is more open and impartial. Given these developments, it is now essential for businesses of all sizes to put policies in place and change the workplace culture in order to account for this transformation in the context of shifting social standards. KarmaV’s AI regularly audits various HR operations and keeps track of the subtle shifts in socioeconomic trends in order to advise corporate leaders to take more proactive actions. Organisations may quickly discover and anticipate action areas with the help of the patented technology, change their course, and expand quickly but more morally.
