In a world that is becoming increasingly conscious of its environmental impact, industries are awakening to the imperative of sustainable practices. Governments around the globe have also been extending their support through various grants and incentives, fostering a climate of eco-friendly initiatives.

Standing at the forefront of this transformative journey would be the hospitality sector. From eliminating the usage of single-use items such as shampoo bottles to reducing water wastage, hoteliers and other businesses in the hospitality industry have started finding new ways to become more eco-friendly.

Governments as catalysts for sustainable change

The hospitality sector, integral to economies globally, has been actively looking for solutions that are sustainable to cater to the growing eco-consciousness of its guests. In response, governments are emerging as key catalysts for sustainable change, propelling the industry toward responsible practices.

Through a range of grants and initiatives, policymakers are encouraging hotels and brands to adopt innovative solutions. This partnership between governments and the private sector paints a powerful picture of commitment to preserving the planet and fostering sustainable growth.

Hotels’ and brands’ shift toward adopting ESG

According to Booking.com’s Sustainable Travel Report published in 2022, four out of five respondents said that travelling sustainably is important to them. Besides changing attitudes towards environmentalism, the hospitality industry is also susceptible to the effects of climate change. Hence, we are seeing an unprecedented shift in hotels and brands adopting environmental, social and corporate governance frameworks in their businesses. 

Also Read: How Retykle is weaving sustainability into the fabric of children’s fashion

One leader in the industry would be Accor. As a goliath in the industry, it has set a positive example by committing to a set of goals to take incremental steps towards achieving a net zero business. They plan to do so by reducing water, waste, energy and carbon emissions. Such exemplary attitudes toward environmental stewardship are fundamental in conferring importance on adopting greener attitudes.

Entrant startups are crucial to hacking sustainable practices

At first mention, the adoption of eco-friendly practices might seem boring or uninteresting. But with the usage of technology and innovation, startups have created many solutions ranging from the simple to the complex, focusing on meeting needs. 

As a testament to the significant impact of water filtration, AmGlow’s hospitality clients have successfully eliminated the use of plastic water bottles in guestrooms, averting the need for approximately 20,000 bottles daily.

Such startups are important in providing solutions to revolutionise the ways in which the hospitality sector carries out its businesses. Besides appealing to eco-conscious guests, hotels can improve internal operations and generate long-term productivity improvements, as they no longer need to leverage on manual labour and can cut unnecessary costs.

Conclusion

As governments and industries unite, SMEs and startups are crucial in illuminating the path towards a brighter, eco-conscious future. The hospitality industry is a complex one, with many cogs in the machine. By working hand in hand, business and the environment can coexist harmoniously.

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The economic crisis of recent years has had far-reaching implications for various industries, but the tech sector has continued to thrive despite the challenges. However, concerns about salary overpayments in the tech industry have also emerged alongside its resilience.

This begs the question: Will tech salary overpayments end once the economic crisis subsides?

Understanding tech salary overpayments

Tech salary overpayments, like any other industry, occur when employees in the technology sector receive more compensation than they are entitled to. This can happen for various reasons, including payroll errors, miscalculations, or misunderstandings between employers and employees. Such overpayments can significantly affect individual finances and a company’s bottom line.

Causes of tech salary overpayments during the economic crisis:

• Rapid hiring and scaling: some tech companies experienced rapid growth during the economic crisis as demand for tech services and products surged. Scaling up operations quickly can lead to payroll mistakes, especially when onboarding many new employees.
• Complex compensation packages: tech companies often offer complex compensation packages that include bonuses, stock options, and other incentives. Calculating these components accurately can be challenging, increasing the risk of overpayments.
• Remote work challenges: the tech industry is known for its flexibility and remote work opportunities. Managing remote employees and accurately tracking their work hours can pose challenges contributing to salary overpayments.
• Fluctuations in project work: tech projects often involve a dynamic workforce that can fluctuate in response to changing project demands. Keeping track of these fluctuations and adjusting compensation accordingly can lead to errors.
• Tech leaders’ limited people management and inexperienced HR: tech managers often lacked knowledge about practical employee assessment, communication, and compensation benchmarks, leading to inaccuracies. Similarly, inexperienced HR staff struggled with benchmarking, efficient payroll processing, and negotiation skills. 

Also Read: Myths vs reality: Remote and hybrid managers report high productivity and trust

Will tech salary overpayments end?

While salary overpayments in the tech sector may have been more pronounced during the economic crisis, they are unlikely to disappear entirely in its aftermath. Several factors support this assertion:

• Rapid growth: Tech companies are known for their fast-paced growth, which can result in frequent hiring and organisational changes. This dynamic environment increases the potential for payroll errors. Every year, each new technology created catalyses the shortage of skilled labour, leading to the hunt for talent in rare skills.
• Complex compensation structures: The tech industry’s unique compensation structures, from base salary bonuses to incentives, benefits, stock options.. are inherently prone to calculation errors.
• Remote work remains: Remote work is expected to remain a significant part of the tech industry’s work culture, and managing remote employees can continue to be challenging regarding payroll accuracy.
• Competitive talent market: Tech companies often offer competitive compensation packages to attract and retain top talent. This intensifies the need for precision in payroll processing. By 2030, the talent shortage and skills gap in the U.S. alone are expected to total a loss of $8.5 trillion (PwC).

While tech salary overpayments may have been more prominent during the economic crisis, they will likely persist in the post-crisis tech landscape.

The dynamic nature of the industry, complex compensation structures, and the continuation of remote work all contribute to the ongoing challenge of payroll accuracy. Nevertheless, tech companies can proactively mitigate these issues and ensure that salary overpayments remain manageable in the industry’s ever-evolving ecosystem.

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Kiddocare, an on-demand caregiving platform in Malaysia, has concluded an undisclosed pre-Series A financing round led by Artem Ventures.

Gobi Partners, MSW Ventures Asia Fund X, and ScaleUp Malaysia also joined. Gobi invested via the Khazanah Nasional Bhd-backed Gobi Dana Impak Fund (GDIV). 

The capital will be used by Kiddocare for growth and innovation. It will leverage these resources to expand its platform, reach a wider audience demographic, and create fresh opportunities for women.

Founded in 2019 by Nadira Yusoff and Muhaini Mahmud, Kiddocare is an online platform connecting parents with verified childcare providers based on their preferences for time and location. These caregivers undergo rigorous screening and training before being onboarded.

The platform primarily caters to urban millennial mothers, who wield substantial purchasing power and seek reliable childcare solutions.

Also Read: Khazanah-backed Gobi Dana Impak Ventures invests in Care Concierge

Kiddocare offers the potential for weekly earnings of up to RM1,500 (US$318), affording women the flexibility to navigate motherhood and education. The Kiddocare Academy further provides opportunities for career advancement through specialised training programmes for carers, such as counselling, eldercare, tutoring and entrepreneurship.

The company has employed a dedicated customer service team to manage each booking, providing real-time updates.

The startup is currently serving the Greater Klang Valley and expanding its reach to regions like Seremban and Johor Bahru, with nationwide expansion plans in the pipeline.

Kiddocare Founder and CEO Nadira Yusoff said: “Through innovative technology, necessary training and certification, career paths and social safety nets, Kiddocare ensures that caregivers are equipped with the skills, knowledge and support necessary to provide top-tier care.”

A 2018 Time Use study by The Khazanah Research Institute revealed that Malaysian women spent an average of 3.6 hours (15.2 per cent) of their time on unpaid care work, compared to men’s 2.2 hours (9.3 per cent). This disparity signifies that women spent 63.6 per cent more time on unpaid care than men. According to the United Nations Development Program report, structural changes in this area can generate millions of jobs for women and contribute significantly to Malaysia’s GDP.

MSW Ventures Asia Fund X General Partner Jeffrey Seah said: “Acquisiting  childcare services is a stressful, high-involvement parenting process, and the triumvirate factors of quality, availability and consistency underwrite the decision-making process.  Kiddocare has significantly reduced those parenting insecurities through their focus on quality — market-leading training programs, qualification-based service standards set by industry experts and building up a caregiver base motivated to constantly upgrade skillets and service delivery.”

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Earlier today, LinkedIn released a list of top companies–with startups having their own list–where professionals want to work globally, based on the unique data on the platform. These lists were separated based on the countries that these startups operate in; startups were shortlisted based on factors such as employee growth, jobseeker interest, member engagement within the company and its employees, and the startups’ ability to attract talent from the flagship LinkedIn Top Companies list.

In Southeast Asia, the platform published a list of top startups in Singapore and Indonesia–two of the leading startup hubs in the region.

The differences between these two startup ecosystems could not be more obvious.

In the case of Singapore, the fintech sector dominates the list with eight out of the 10 startups working in the fintech or fintech-related businesses. Meanwhile, in Indonesia, there is a great variety of companies that have made it to the list, from aquaculture to e-commerce.

So, what does it tell us about the state of these startups ecosystems today?

Also Read: Stripe, LinkedIn Co-Founders back Entrepreneur First’s US$158M Series C round

Two different directions

If there is one thing that we can conclude from these two list about top startups in Singapore and Indonesia, is that these two countries are heading towards different directions. Because of this, they provide different kinds of opportunities for both founders and investors.

The dominance of fintech sector in the top startup list comes out as no surprise with the country being known as a hotbed for fintech innovation. There are many reasons why Singapore is that way. According to Tenity in a blog post, it involves having a “well-established banking system, strong legal and regulatory frameworks, and a talented pool of financial professionals.”

There is a strong focus and clear direction on what a startup can achieve here.

This means that, if your goal is to build a strong presence and a sustainable business, a market with clear advantage like Singapore might be where you should be at.

Meanwhile, Indonesia is more of a jack-of-all-trades.

Also Read: 5(-6) LinkedIn marketing tips you were too ashamed to apply

I see the variety of the top startups in the list as a reflection of the different problems available in the market for startup founders and investors to tackle–and the opportunities it provide. As a representation of the unique geographies of Indonesia, these companies catered their products and services to the different segments of the Indonesian society.

Does this mean it is impossible to build a sustainable business in Indonesia?

There may not be a quick answer to this. Different verticals may have its own unique challenges and opportunities–and there is definitely room for everyone in Indonesia. But if there is one strength that we can attribute to the Indonesian market is that it provides plenty of space for founders and investors to explore and experiment. If you have bold ideas, and you would like to see if it can actually take off, Indonesia might be the one for you. But if you already know what is working, and need a solid support system to get your idea to take off, Singapore might be the better option.

In the end, choosing the right market to grow your company is all about understanding yourself and what you want to achieve–and see which market might accommodate that best. Because the beauty of the SEA startup ecosystem is the diversity of it.

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Image Credit: RunwayML

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At e27, we foster the growth of visionary minds and offer a platform for exceptional individuals to share their expertise and unique perspectives. Our Contributor Programme serves as a gateway for passionate voices to join the dynamic dialogue on entrepreneurship, technology, and innovation.

Join us for our weekly presentation of curated articles sourced from our Contributor Programme. From emerging trends to industry insights and groundbreaking ideas, these articles promise to broaden your horizons and stimulate your curiosity.

What I learned after launching a successful business in Asia

Learn from Statrys’ founder as he shares practical advice on entrepreneurship, including risk-taking, timing, location choice, and performance measurement.

By Bertrand Theaud, Founder of Statrys

Statrys, launched in 2018, emerged to provide a user-friendly payment and FX platform for Asian businesses. By 2022, it was recognised as the best payment and collections service in Hong Kong.

Lessons from this journey include embracing risk, validating ideas, building a strong team, timing the launch, choosing the right location, using MVPs for testing, and strategic fundraising. Establishing measurable KPIs and paying attention to ‘weak signals’ in the market were also key takeaways, all contributing to a solid foundation for a successful business venture.

Cash 2.0: How CBDCs are shaping the future of money

CBDCs combine the benefits of cash with digital usability, ensuring a broader scope for SMB-friendly transaction modes across industries.

By Luke Fitzpatrick, Guest Lecturer at Sydney University

The global shift away from cash towards digital payments has had a profound impact on the fintech industry and commercial banks.

While digital payment adoption is on the rise, there is a concern about financial inclusion, especially for small and medium-sized businesses (SMBs) and retail consumers who still rely on cash-based transactions. Central Bank Digital Currencies (CBDCs) offer a solution by combining the benefits of cash, such as low transaction fees and instant payments, with digital usability.

CBDCs can bridge the gap between accessible public money and digital currency innovations, benefiting both businesses and consumers. However, CBDCs also raise privacy concerns that need to be addressed through innovation and thoughtful design to ensure their successful adoption.

Adding value beyond capital: How angel investors should support portfolio companies

As entrepreneurs navigate uncertainties, angel investors expertly chart paths to success they may overlook.

By Pranay Mathur, Partner and CEO at Realtime Angel Fund

In the ever-evolving world of entrepreneurship, startups face numerous challenges on their path to success. Angel investors have emerged as crucial support for these fledgling companies, offering not only funding but also mentorship and guidance.

Drawing on personal experience, the author, the founder of Realtime Angel Fund, highlights the significance of angel investors in a startup’s growth journey. They provide tailored mentorship, powerful networks, operational support, critical resources, and long-term commitment, fostering a collaborative ecosystem that propels startups towards success. Angel investors are more than financiers; they are navigators in the uncertain entrepreneurial landscape, sharing their knowledge and experience with those they support.

Also Read: Voices of innovation: Showcasing e27’s top contributors of the week

Examining global hybrid and remote work trends beyond the West

Beyond Asian markets lagging, even countries and companies that have embraced hybrid still have a lot to figure out.

By Daan van Rossum, CEO of FlexOS

Hybrid and remote work adoption varies widely across Asia. While Singapore actively promotes hybrid work, countries like Vietnam and Indonesia face challenges due to micromanagement and limited digitisation. Cultural factors, industry, and leadership play a role. A survey reveals room for improvement in employee satisfaction with hybrid work models. Strong management practices are essential as the work landscape evolves.

Banks must solve their core banking conundrum – or fail

While the prospect of modernising a bank’s core may seem daunting, the right roadmap can indeed pave the way for lasting success.

By Andy Male, Client Partner at Publicis Sapient

Banks in Southeast Asia face challenges with legacy systems as they struggle to meet digital expectations and comply with new regulations. However, progress is being made, with 37% of bank leaders in the region acknowledging the hindrance of legacy technology.

To modernise their core systems, banks should take an iterative approach, starting with clear alignment from top to bottom, mobilising the program, proving the platform with the first release, and progressively modernising in tranches. This approach can help banks enhance customer experiences, drive growth, and increase resiliency for the future.

Beyond the classroom: How education companies are rewriting the rules with relationships

The journey of education is more than textbooks; it’s about forging bonds, nurturing collaborations, and creating meaningful impact.

By Will Fan, CEO and Head of School at NewCampus

The education sector, much like governance, relies on enduring relationships for its evolution. Lee Kuan Yew’s approach to governance emphasized long-term relationships, a principle that applies to education. Companies like Coursera, Pearson, and McGraw-Hill Education have thrived by building lasting relationships with educators, institutions, and learners.

As education undergoes a digital transformation, relationships remain crucial. Challenger brands like Open Campus exemplify this by forging strong connections with strategic partners, such as Animoca, GEMS Education, and Binance. These partnerships enable innovative approaches to education and credentialing, fostering growth and progress in the industry.

In a rapidly changing education landscape, prioritising meaningful, adaptable, and values-aligned partnerships is key to sustainable growth and impact.

Government support and industry initiatives propel hospitality toward sustainability

As governments and industries unite, SMEs and startups are crucial in illuminating the path towards a brighter, eco-conscious future.

By George Lim, Co-Founder and CEO of Amglow

The hospitality sector is embracing sustainability as it aligns with growing eco-consciousness among guests. Governments play a pivotal role by offering grants and incentives to promote sustainable practices in the industry.

Leading companies like Accor are setting ambitious goals for reducing water, waste, energy, and carbon emissions. Startups are also contributing innovative solutions, such as eliminating plastic water bottles through water filtration systems. Collaboration between governments, established brands, and startups is essential to create a more eco-friendly and sustainable future for the hospitality industry.

Also Read: Weekly roundup: Diving deep with our contributors’ latest

Will tech salary overpayments end after the economic crisis?

While tech salary overpayments may have peaked during the crisis, they are unlikely to disappear entirely in its aftermath.

By Pham Phuong Linh, Co-Founder and COO at Source

Tech salary overpayments are a concern in the industry, and while they may have been more pronounced during the economic crisis, they are unlikely to completely disappear in the post-crisis tech landscape.

Several factors, such as rapid growth, complex compensation structures, remote work, and the competitive talent market, contribute to the ongoing challenge of payroll accuracy. However, tech companies can proactively address these issues to ensure that salary overpayments remain manageable.

The fall of multi-billion-dollar unicorns: A warning tale

It is critical to revisit the stories of failed unicorn ventures to learn their lessons and prevent history from repeating itself.

By Hanh Vu, Business Analyst at Sioux High Tech Software

The failures of unicorn ventures like Powa Technologies, Solyndra, and Babylon Health serve as cautionary tales for investors and entrepreneurs alike. These stories highlight the importance of responsible management, proper planning, and financial accountability.

Rapid expansion without a sustainable business model, unchecked spending, and failed acquisitions were common factors in these failures. By learning from these mistakes, we can make more informed investment decisions and ensure the success of future ventures.

Meeting the customer where they want to be, in an omni-channel world

Businesses can navigate today’s omni-channel challenges by embracing a customer-centric digital innovation.

By Sue Coulter, Head of Group Digital and Analytics at AIA

In today’s complex social media landscape, businesses can create a seamless omni-channel experience by being digitally led, choosing platforms that meet customer needs, personalising content, matching communication preferences, and staying open to new technologies like Generative AI. This customer-centric approach ensures that businesses can engage with customers on their preferred channels while delivering tailored value throughout their journey.

Keeping up with advertising: How brands can make the most out of change

By combining new technology with industry expertise, brands can stay ahead of the curve, reaping the benefits of their advancements.

By April Tayson, Regional Vice President (SEA, India and ANZ) at Adjust

In the dynamic realm of advertising, change remains the only constant. Technological advancements, regulatory shifts, and evolving consumer preferences shape the industry.

Personalised advertising has become the norm, but new privacy-centric frameworks like Google’s Privacy Sandbox and Apple’s App Tracking Transparency pose challenges. Marketers must find innovative ways to personalise campaigns while respecting privacy.

By diversifying the channel mix, leveraging data, and incorporating AI technologies, brands can navigate these challenges and seize opportunities to stay ahead in the evolving advertising landscape. AI, in particular, can help optimise campaigns, analyse user behaviour, and safeguard user privacy, opening new horizons for data-driven precision in advertising.

Automation: Are you leading or lagging in the race?

Being at the forefront of automation entails using it to enhance human capabilities rather than substituting them.

By Vivek Goel, Vice President, Marketing and Evangelism at Quixy

In today’s ever-changing world, the pace of automation has accelerated like never before. It’s no longer a question of if automation is coming; it’s about whether you’re leading or falling behind in this race. Automation, once a distant dream, is now shaping industries globally.

To stay ahead, continuous learning, collaboration with machines, data-driven decision-making, customer-centricity, and innovation are vital. Falling behind means resistance to change, lack of skills, inefficiency, poor customer experience, and stagnation. Embrace automation as an opportunity, not a threat, to secure your place in the future.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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