Free Personifwy by Wishyogi: Not Afraid of Ghost Talent Case Study Solution | Assignment Help

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Written by Gary F. Smith
Publish Date: 2024-11-03

Harvard Case - Personifwy by Wishyogi: Not Afraid of Ghost Talent

"Personifwy by Wishyogi: Not Afraid of Ghost Talent" Harvard business case study is written by Jyotsna Bhatnagar. It deals with the challenges in the field of General Management. The case study is 7 page(s) long and it was first published on : Oct 19, 2023

At Fern Fort University, we recommend Wishyogi adopt a strategic approach to scaling their 'Ghost Talent' model, focusing on building a robust platform, expanding their talent pool, and establishing a strong brand presence in the international marketplace. This strategy should prioritize digital transformation, talent management, and corporate social responsibility to ensure sustainable growth and competitive advantage.

2. Background

The case study focuses on Wishyogi, a start-up founded by two young entrepreneurs, Shreyas and Rishi, who aim to revolutionize the staffing industry by connecting businesses with a global pool of 'Ghost Talent' ' highly skilled individuals who work remotely and on a project basis. Wishyogi's platform offers a unique solution for businesses seeking flexible, cost-effective talent, while providing opportunities for individuals to leverage their skills and build their careers.

3. Analysis of the Case Study

Strategic Analysis:

  • SWOT Analysis: Wishyogi possesses several strengths, including a unique business model, a talented team, and a growing user base. However, they face challenges such as limited funding, competition from established players, and the need to build trust and credibility in their platform. Opportunities lie in the growing demand for remote work and the increasing adoption of gig economy models. Threats include regulatory changes, economic downturns, and the potential for talent poaching.
  • Porter's Five Forces: The staffing industry is characterized by moderate competitive rivalry, high bargaining power of buyers (businesses), and moderate bargaining power of suppliers (talent). New entrants face significant barriers, while the threat of substitutes is moderate. This analysis suggests that Wishyogi needs to differentiate itself through innovation and value proposition to gain a competitive advantage.
  • Growth Strategy: Wishyogi's growth strategy should focus on international expansion to tap into a larger talent pool and market. This requires adapting their platform to different cultural contexts, legal frameworks, and payment systems.
  • Competitive Advantage: Wishyogi's competitive advantage lies in its unique 'Ghost Talent' model, which offers businesses access to a diverse and highly skilled workforce. They should leverage this advantage by building a strong brand identity, emphasizing their commitment to diversity and inclusion, and promoting their platform as a solution for businesses seeking flexible and cost-effective talent.

Financial Analysis:

  • Funding: Wishyogi needs to secure additional funding to support their growth plans. This can be achieved through venture capital investment, angel investors, or strategic partnerships.
  • Profitability: Wishyogi needs to develop a clear pricing strategy and optimize their platform to ensure profitability. They can explore various revenue models, including transaction fees, subscription plans, and value-added services.

Marketing Analysis:

  • Target Audience: Wishyogi's target audience consists of businesses seeking skilled remote workers and individuals looking for flexible work opportunities.
  • Marketing Strategy: Wishyogi should focus on digital marketing strategies, including SEO, social media marketing, content marketing, and targeted advertising. They should also leverage industry events and partnerships to build brand awareness.

Operational Analysis:

  • Platform Development: Wishyogi needs to invest in platform development to enhance user experience, improve security, and integrate new features. This includes AI and machine learning for talent matching, skill assessment, and project management.
  • Talent Acquisition: Wishyogi should develop a strategic approach to talent acquisition, focusing on attracting and retaining high-quality talent. This includes building a strong employer brand, offering competitive compensation and benefits, and providing opportunities for professional development.

4. Recommendations

  1. Strategic Expansion: Wishyogi should focus on expanding their operations into new international markets, starting with regions with a high demand for remote work and a large pool of skilled talent. This requires:

    • Market Research: Conduct thorough market research to identify potential markets, understand regulatory requirements, and assess the competitive landscape.
    • Platform Localization: Adapt the platform to different languages, currencies, and cultural nuances to ensure a seamless user experience.
    • Partnerships: Establish strategic partnerships with local businesses, recruitment agencies, and educational institutions to build brand awareness and access talent.
    • Legal Compliance: Ensure compliance with local labor laws and regulations to avoid legal issues and build trust with both businesses and talent.

  2. Talent Management: Wishyogi should invest in building a robust talent management system to attract, retain, and develop their 'Ghost Talent' pool. This includes:

    • Talent Pool Expansion: Implement strategies to attract a diverse range of talent, including professionals from emerging markets, underrepresented groups, and those with specialized skills.
    • Skill Assessment: Develop a standardized skill assessment process to ensure the accuracy and reliability of talent profiles.
    • Performance Management: Establish a performance management system that provides feedback, rewards, and opportunities for professional development.
    • Community Building: Create a supportive and collaborative community for 'Ghost Talent' through online forums, networking events, and mentorship programs.

  3. Brand Building: Wishyogi should focus on building a strong brand identity that emphasizes their commitment to quality, flexibility, and social responsibility. This involves:

    • Brand Storytelling: Develop compelling brand narratives that highlight the value proposition of their 'Ghost Talent' model and showcase success stories of businesses and individuals.
    • Content Marketing: Create informative and engaging content that positions Wishyogi as a thought leader in the remote work and talent acquisition space.
    • Public Relations: Engage in public relations activities to build brand awareness and generate positive media coverage.
    • Corporate Social Responsibility: Integrate corporate social responsibility initiatives into their business model, such as promoting diversity and inclusion, supporting sustainable practices, and contributing to local communities.

5. Basis of Recommendations

These recommendations are based on a thorough analysis of Wishyogi's current situation, its strengths, weaknesses, opportunities, and threats. They consider the company's core competencies, its mission to connect businesses with skilled talent, the needs of both businesses and individuals, and the competitive landscape. The recommendations are also grounded in best practices for digital transformation, talent management, and corporate social responsibility, which are crucial for sustainable growth and competitive advantage in the global marketplace.

6. Conclusion

Wishyogi has the potential to disrupt the staffing industry with its innovative 'Ghost Talent' model. By adopting a strategic approach to scaling their business, focusing on international expansion, building a robust talent management system, and establishing a strong brand presence, Wishyogi can achieve sustainable growth and become a leading player in the global remote work market.

7. Discussion

Alternative options include focusing solely on the domestic market or pursuing a more traditional staffing model. However, these options limit Wishyogi's potential for growth and competitive advantage. The recommended strategy, while requiring significant investment and effort, offers the greatest potential for success in the long term.

Risks:

  • Competition: Established staffing companies may respond aggressively to Wishyogi's entry into the market.
  • Regulatory Challenges: Navigating different legal frameworks and labor laws in international markets can be complex.
  • Talent Acquisition: Attracting and retaining high-quality talent in a competitive market can be challenging.
  • Platform Security: Maintaining platform security and protecting user data is critical.

Key Assumptions:

  • Demand for Remote Work: The demand for remote work will continue to grow.
  • Talent Availability: A sufficient pool of skilled talent will be available in the chosen international markets.
  • Technology Adoption: Businesses will continue to adopt technology solutions for talent acquisition and management.

8. Next Steps

  1. Develop a detailed strategic plan: This plan should outline the company's vision, mission, objectives, target markets, growth strategies, and key performance indicators (KPIs).
  2. Secure funding: Wishyogi needs to secure additional funding to support its expansion plans.
  3. Build a strong team: Recruit and develop a team with the skills and experience necessary to execute the strategic plan.
  4. Develop a robust platform: Invest in platform development to enhance user experience, improve security, and integrate new features.
  5. Implement marketing and branding initiatives: Launch a comprehensive marketing campaign to build brand awareness and attract both businesses and talent.
  6. Monitor progress and adapt: Continuously monitor progress against KPIs and make necessary adjustments to the strategy.

By taking these steps, Wishyogi can successfully navigate the challenges and opportunities of the global remote work market and achieve its vision of revolutionizing the staffing industry.

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Case Description

In 2020, Neha Mathur and Debi Kar co-founded the start-up Wishyogi India Pvt. Limited in Bangalore, India, and launched an online HR platform called Personifwy. Driven by artificial intelligence (AI), Personifwy analyzes employee engagement experiences and integrates data with the client's own systems, thus serving as an HR analytics platform. During their interactions with clients, Mathur and Kar discovered a gap in the process of recruiting prospective employees. Many candidates were engaging in a phenomenon referred to as "ghosting," which caused the talent acquisition teams of client firms to constantly restart the process, wasting time and resources. Mathur and Kar wanted to reveal the reason why candidates were dropping out of the recruitment process (or "ghosting" the employer) after receiving an offer letter and find a way to stop the practice. Potential solutions included having the client call these candidates directly or hiring consultants to establish a contact. Could AI technology help to resolve the issue? Could Mathur and Kar design an innovative solution to increase the ratio of job offer to confirmed employee for Personifwy clients? Should the company consider using employees advocates to help resolve the ghosting issue?

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