Reference no: EM133043223

Aligning HR strategy with business strategy

Sukhpreet Singh will be responsible for HR team leadership, besides developing and implementing HR strategies and initiatives aligned with the company's overall business strategy 

MUMBAI: mPokket, an instant loan app targeted towards college students and young working professionals, has appointed Sukhpreet Singh as their new head of human resources. The primary goal of mPokket is to financially empower the youth of our country. By providing small to medium-sized loans for students and young professionals, we enable them to become financially independent at an early age. The reason why mPokket aims to be the best instant loan apps in India based on user-friendly interfaces and simplified registration process.

By offering our instant loan online for a short duration i.e., up to 3 months, mPokket encourages the youngsters to plan their expenses in a prudent fashion, thus setting them up for saving and investing for the rest of their lives. Singh will be responsible for HR team leadership, besides developing and implementing HR strategies and initiatives aligned with the company's overall business strategy, the company said in a statement. Towards this objective, he plans to connect employees with the company's mission, envision the future of work post-covid19 and create an engaging environment where people can perform better, it added.

He comes with 12 years of experience at leading organizations such as Lenskart, Concentrix, Aon Hewitt and VitalSmarts India. Before joining mPokket, Singh was associated with Lenskart as the head of HR. Gaurav Jalan, chief executive and founder of mPokket said, "We have strong ambitions for transforming mPokket into a truly diverse, inclusive, people-driven and equitable company. He brings a wealth of experience in change management, talent development, operational efficiency and recruitment, along with a proven ability to lead. We are confident he will help advance the company's vision and foster a winning ethos of purpose-driven initiatives."

 The company was founded in 2015 and received early-stage funding of $50,000 from VC village capital through a contesttype selection process. "Borrowers can avail of loans ranging from ?500 - ?20,000. mPokket's business model is similar to credit card lending but it focuses on a segment that is ineligible for traditional loans yet requires instant funds. The loan is disbursed to clients instantly and credited either to their bank account or Paytm wallet via smartphones within seconds," the statement sa

Question 

Some of the major consideration within Human Resource Strategy are barriers to the development of planned HR strategies and the speed at which firms adopt new HR strategies. As such: 

- Elaborate on barriers that Mr. Sukhpreet Singh may experience in developing planned HR strategies and suggest possible solutions to these challenges.