Thoughtless : LinkedIn’s HR ladies and Banks launching accelerators

Some sense is missing here, therefore I define these as thoughtless actions.

A lot keeps happening around us — too many voices, noises, ideas, people and then their thoughtless actions. Outside the regular discrepancies of our opinions on various matters, there are certain things which would (should) appear nonsensical to the majority of us. Here I’d like to present such observations of mine.

Following are two such cases of what I call thoughtless actions. These are the actions that haven’t been well thought through by the doer and therefore will create no significant impact. I’ll be updating more of such rants with another attempt of thought documentation. Meanwhile, here are the two completely unrelated pointers stored in my synapses today. Needless to say, these might just be thoughtless to me.

LinkedIn’s Headhunter Profiles — What are these ladies exactly doing?

I haven’t left myself with much social media apps to perform endless scrolling on but LinkedIn is one where I usually spend my time (if at all) going through the offered feed. It does on auspicious occasions, help me discover an interesting/insightful article/news. However, on a regular day I am usually looking at posts by profiles of women HR/ headhunters/talent managers calling out for job applications for all the generic roles asking just for a like or comment in return. None of them is in my network, it finds way through my connections who respond or react to such posts. The pattern interestingly is — all women, with Facebook standard display pictures and nothing insightful to say. These profiles might as well be fake, who knows. Now, I have no clue how these posts work or help people get jobs. It definitely doesn’t look like a thought through recruitment strategy. Looking at the number of responses they get (on an average more than 10K), it looks like an attempt to create a database full of desperate job seekers. Or an oblique way to get enough follows and make it to the list of influencers? So a couple of reasons for my disregard for such an attempt, first of course is that I am not a beneficiary in this case — I am neither looking for a job nor an unimpressive quote for motivation. Secondly, the content of the post itself doesn’t seem enough for the job seeker to understand the work. The lure is usually either the foreign location or a big brand name associated with it. Hence, I doubt the intent. Also, a phone number or comment in response to such a post can not be a qualification for the recruiter to spend time going through your LinkedIn profile. Nobody wins. To me it seems like a lot of people are wasting a lot of time. More than thoughtless, it is useless.

Now this one is more debatable —

You show me a Bank, and I’ll show you an accelerator

This is very new, but it has already been overdone. In last one month, more than five Indian banks have already launched their own start-up accelerator programs. Banks are enabling innovation! Well no.

The most traditional financial institutions are now catching up with the new age at least on the outside, and what easier way to show you are in the game than creating your own innovation hub. Then again, let’s get to the depths of this matter. The everyday functioning of a bank is not even remotely related to the way entrepreneurial ecosystems operate. There are multiple hierarchies, rigid organisational structures, zero transparency, fewer leaders and decision makers and no flexibility to work beyond your defined scope of role. They may have the internal insights to the banking industry from their years of existence in it, which could be of much value to the new FinTech ventures. But this is easier said than done. There is no open flow of knowledge. The idea behind launching these “innovation labs” is not to incorporate innovation within the existing system, it is just to create an extended arm which would be seen as the part of the system but would eventually receive no supplies from it. From being a part of one of the accelerators, I know it takes more effort that one can imagine to run these programs successfully. So of course, these programs are either outsourced to other accelerators or consultants, or they hire a person or two to run the show. And God save this new hire as he/she now has to make “innovation thrive” in an environment formed between completely polar organisational structures.

Banks although a bit late than the corporates, have suddenly woken up to the need of getting close and watch over the latest market innovations but they have been least innovative in doing so. If they really want to revolutionize the financial sector and provide more value to their customers, why get into the cumbersome process of creating individual accelerators one after the other and then leave them to run inefficiently on their own until they die in a season or two. Why not, get together create a bigger pool of knowledge and resources, understand what the Fintech startups are struggling with and run fewer but more efficient programs. Well, this collaboration is too much fantasy. Then, how about changing the DNA of the organisation itself, scrape the existing processes and take the responsibility of creating innovative solutions within as part of your key activities. That’s massive work! Ok, then probably go ahead launching accelerators. And believe me, it isn’t even a differentiation anymore. Almost everyone has one.

So yes, that’s it for today.

With the intent of making a point here, I might have happened to make a few assumptions and generalizations. Pardon me for that.