Taking on that first business trip can be a huge step for any SME, not least the additional safety concerns and cost of business travel since COVID-19 started.

And with the myriad of uncertainties and changing regulations that are coming down hard on organisations from MNCs to SMEs, many organisations think it’s worth the effort and financial implications to get back to travel.

These concerns are genuine for SMEs. They are usually the worst hit in economic downturns as they don’t have the flexibility that the backing of significant banks gives MNCs.

As with most companies, staff in an SME is also one of the company’s greatest assets, and the concern for their well-being and safety has also climbed to the top of the priority leaderboard in the new landscape.

With so many uncertainties and considerations, you may think, why travel? Throw in the added spotlight on the sustainability of travel and its environmental impact, and you have a full plate of worries on your hands.

However, now is not the time to back-burn travel programmes but to ramp them up. A business environment changing so rapidly and dramatically will require speed and the need to scale your strategies and tools effectively to ready yourself for travel when the need calls for it.

Strategies and tools need to reflect the shift of the new travel landscape as the pandemic eases. Consider the following factors as you plan for the longer term:

• Put value at the centre of your return to travel strategy: determining the true value of a business trip.
• Adopt a safety and risk mindset: setting up a resilient and building a risk management culture
• Data as the cornerstone of your travel programme: doubling down on data focus to achieve greater cost control and optimise the decision-making process

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

Is it worth it?

While ‘fly-in fly-out meetings can be shifted online, there’s an undeniable benefit of attending that sales pitch in person or site visits to customers or suppliers for that personal touch. SMEs know these values better than anyone else.

The personal touch is intrinsic to the growth of a business for an SME, especially when we’re talking about growth across borders. Any business that isn’t thinking about cross-market collaboration or expansion likely won’t be a business for long.

If you look at why teams from sustainability organisations and even leaders are still flying to gather at COP26 in 2021 (The United Nations Framework Convention on Climate Change), you’ll understand why.

No amount of videoconferencing will be as valuable as six hours spent in the room with your customers, suppliers and colleagues to understand their needs and concerns, how you can better achieve your goals together and build that personal relationship to the next level.

How is it safe?

So your employees still have to fly, how can they do it safely and with peace of mind?

One of the biggest developments in travel risk management since the onset of COVID-19 has been the ISO 31030. Published in September 2021, the document provides organisations with a common standard for building, implementing, and evaluating a travel risk management strategy.

The standard includes guidance on implementing an effective risk management policy, programme development, threat and hazard identification, opportunities and strengths, risk assessments, and prevention and mitigation strategies.

Employees need to be assured that they are being taken care of in the entire end-to-end journey. 24/7 access to updated and timely health and safety information, as well as tools and resources that allow them to navigate their trips safely and confidently, has now become non-negotiable.

Do you know what’s going on?

Many companies still run their companies blindfolded. Data limitations often cause poor decisions to be made and inefficient decision-making processes.

To close the gap, SMEs need to take a fresh look at one thing: data. That means revisiting data on travel restrictions, data on which hotels have the required hygiene standards, data on the length of flight vs airfare class booking matrix. Is it ok to book a business class flight for a two-hour flight to Jakarta? Why or why not?

Some of the paradigms once driven by humans or common-sense decisions are now ripe for reconsideration. Data can help you to make better-informed decisions. It levels up your travel programme, driving the decision-making process and helps to mitigate risks and enhance the safety magnitude of employees.

At a glance, you can see whether the trip is safe enough to take, whether it makes sense and allows you to jump into action immediately when crises occur or if things go wrong.

Also Read: How Warung Pintar builds tech solutions to help warung owners embrace the future

A big bonus of data? Expense monitor and control. It allows you to monitor spend increases and identify areas where they can be reduced.

Many travel management companies (TMCs) offer integrated traveller and spend tracking technology. These tools can provide up-to-date travel information taken from live feeds provided by risk management companies, and you’ll be alerted when your travellers are in a position of risk.

Importantly, you also get access to regular expense reports, which deters travellers’ shady and frivolous spending habits.

We’ve seen many SMEs start their data journey with spreadsheets and google alerts to track travellers and expenses.

They are often patchy and usually end in disaster when someone accidentally messes up the format or becomes too intensive for continued manual input.

Switching on the data-enabled mindset

A volatile and unpredictable environment is disrupting companies’ business operations and adding a variety of risks from budget and traveller risks and environmental, social, and governance (ESG).

MNCs and large national companies are increasing their emphasis on central control systems to obtain operational and traveller relevant data, and SMEs should not lag in the race.

FCM’s new fee-free travel programme offers startups and mid-sized companies the opportunity to level up their travel programme and kickstart the organisation’s data journey.

SMEs have similar needs as MNCs (although a lot more straightforward) but often don’t have the deep pockets or negotiating power for bundled deals that larger organisations do– this was the premise of the fee-free programme. In essence, we want to support SMEs by helping them to travel more and spend less.

Implementing a travel platform to your company systems might have been a nightmare ten years ago. Still, corporate travel tech has matured significantly over the last decade and accelerated even further in the previous 18 months.

Simple and straightforward, the implementation of FCM Platform and Mobile for an SME’s travel programme can be completed in two weeks with a core emphasis on user experience and at no cost. This allows you to align tech and data with your travel programme, enabling speed and scalability in enhancing your operations to grow your business.

The way forward for SMEs, regardless of the route or tool you choose, will be from keeping a closer eye on data smartly.

It will give you the confidence to jump on a plane to make that connection with a potential new client, better collaborate with your peers and understand your suppliers’ needs without putting your staff or your finances at risk.

Spreadsheets will only take you so far.

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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.

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Singapore businesses and private individuals are no strangers to cyber attacks. The ongoing pandemic has further amplified the use of technology, and to keep afloat, businesses and many individuals around the globe were forced to go fully digital aggressively.

However, with businesses digitising and moving assets online via cloud computing, cybersecurity has become a critical concern.

Recent high profile cases such as the ransomware attack on a private eye clinic where up to 73,000 patients’ data and clinical information were affected have further underscored the need for cybersecurity professionals to meet the increase in demand for services.

According to McAfee Enterprises’ Advanced Threat Research Report (October 2021), financial services were targeted most among reported cloud incidents, followed by healthcare, manufacturing, retail, and professional services.

Singapore’s cybersecurity market, which was estimated at slightly less than half a billion US dollars in 2017, is expected to reach US$889 million in 2022, according to the Infocomm Media Development Authority of Singapore (IMDA).

Despite the growth of Singapore’s cybersecurity market, the country faces a shortage of cybersecurity professionals, which has left businesses vulnerable to cyber threats. The number of ransomware attacks climbed to 154 per cent in 2020, and cybercrime accounted for 43 per cent of the total crimes last year. 

We need more cybersecurity talent

According to the Cyber Security Agency of Singapore, Singapore faced an estimated talent shortage of up to 3,400 cybersecurity professionals in 2020. Despite the burgeoning demand for cybersecurity professionals, it is an alarming fact as to why there is still a shortage.

Also Read: Practical tips to protect your business from cyber attacks

One reason for this could be that graduates are traditionally not encouraged to pursue a career in cybersecurity. Instead, careers in business, medicine and science often take precedence over cybersecurity not just in Singapore but globally as well. 

The lack of diversity and inclusion in the cybersecurity field is a contributing factor. Cybersecurity has historically been a male-dominated field. Women may not feel cybersecurity is a career worth pursuing due to the huge gender disparity and lack of opportunities for advancement in the area. 

Lastly, cybersecurity tends to be a technical industry. This also means that a certain degree of knowledge is required to be considered a cybersecurity professional.

Organisations and businesses also tend to limit their talent pool and look for applicants with traditional credentials. It is important to keep in mind that this field is rapidly evolving. It also means that organisations and businesses should benefit from varied skills sets.

How can businesses attract and retain more cybersecurity professionals?

Today, businesses are faced with the challenge of attracting and retaining cybersecurity professionals. Cybersecurity professionals are often attracted to organisations that attract other talented cybersecurity professionals.

They appreciate organisations with a realistic grasp of their risks, postures, needs and where cybersecurity is taken seriously, valued as a discipline, and budgets are allocated to support markets.

They also prefer organisations where cybersecurity has broad visibility (including at the board level), allowing continuous investment in systems, tools and education to keep up with the latest technology and trends.

Another important factor is skill development and growth opportunities. Cybersecurity professionals are also attracted to organisations that provide opportunities for growth, skills development, access to advanced technology and tools, and opportunities to network with other talented cybersecurity professionals at relevant conferences and peer groups.  

How can businesses stay ahead of the digitalisation push?

Businesses are increasingly investing in the development of talent internally. Although employees may have undergone cybersecurity training at some point, it is beneficial to reskill regularly. The security landscape is constantly changing, so today’s challenges will usually be different in the future.

Also Read: The curious case of the cybersecurity skill gap

Companies may elect to deploy security training programs. They will also encourage employees to take extra vigilant safeguard measures, including regularly communicating data security policies and updates about the newest cyber attack methods deployed across the industry and within the business. 

Businesses can also build a local cybersecurity ecosystem. For example, they can form a third-party partnership with governmental organisations (CSA, IMDA) educational institutions and/or partner with cybersecurity firms to explore and generate interest in the cybersecurity field.

This will ensure continuous learning, and employees/business leaders will be more aware of what’s happening in the cybersecurity space. Lastly, plan. Organisations need to formulate a business plan.

For example, review the skills and knowledge of cybersecurity professionals in your company. By doing so, you will be able to point out loopholes and enable leaders to determine if the company needs any external help. 

Adapting to the new age of digitalisation

It is evident that Singapore’s cyber market is growing, and the lack of cybersecurity professionals in the country is a gap that needs to be closed. It is imperative to shift mindset regarding pursuing a career in cybersecurity.

Businesses and organisations can expand their talent pool and deviate from traditional credentials because requirements change. Make sure your organisation promotes a healthy culture, has a good grasp of its risks, and takes cybersecurity seriously to attract top professionals to work for your organisation.

As we progress into a world that is becoming more digitally adept, it is increasingly evident that we need to adopt safe practices on our end too. Businesses will also need to do their part by upskilling and reskilling their workers to keep up with the evolving digital landscape.

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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.

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It is common knowledge that Japan is a hotbed for tech and innovation, being home to many legacy brands that dominate globally in the hardware and robotics space. With the advent of tech becoming increasingly democratised, tech solutions have sprouted not only within large enterprises but also in young and exciting startups. Today, the country boasts a slew of unicorns under its belt, proving that Japan’s vibrant startup ecosystem is equally formidable.

In order to shed light on the country’s strong support for the startup ecosystem, e27 recently hosted a webinar titled “Market Access Japan: Why and how you should expand your business to Japan ”. Moderated by Dennis Poh, Founder and CEO of Legatcy, the programme was designed to help global startups understand the challenges and benefits of expanding to Japan, as well as the kinds of support that the country is able to offer.

Economic resilience

Hari Sivan, CEO and Co-Founder of Singapore headquartered SOCASH, explained that some of the qualities that make Japan an attractive destination for the digital cash displacement platform is its large B2B market. Moreover, the country offers one of the most valuable SaaS business markets and boasts a significant amount of banking activity — which is an expensive operation.

“As with any tech startup, you’re looking at large markets, scale-out markets. So Japan is one option,” expressed Sivan. “Around 2019, we decided we needed to focus on Japan. We had started that process during late 2019, then COVID-19 happen. We felt that among all the countries, Japan still presents the most attractive economy,” he added.

Also read: 26 Japan startups eye business growth with the help of Techstars

According to a 2021 report launched by the Organisation for Economic Co-operation and Development (OECD), the Japanese economy is projected to grow by 1.8% by the end of 2021, 3.4% in 2022, and 1.1% in 2023 — optimistic numbers despite the continued presence of COVID-19.

When it comes to scaling, Sivan explained that market-entry is extremely tough and is akin to starting from zero all over again. For SOCASH, the company simply looked at which countries had the best chances of success in a two to three-year horizon, and Japan basically checked out in all the variables that the company was looking for.

Opportunities that await startups in Japan

According to Masahiko Honma, Co-Founder and General Partner at Incubate Fund, Japan mainly has two central business opportunities for global startups: B2B SaaS market and deep tech.

The country currently holds the record for the second largest B2B SaaS market in the world, next to the United States. On the other hand, Masahiko elaborated that the Japanese market is keen on supporting deep tech startups offering innovations in healthcare, robotics, AI, and other cutting-edge technologies.

In terms of fundraising, Japan has a very mature VC and private equity fund industry. With the right strategic priorities, it is perfectly feasible for new startups to rouse interest among Japanese investors. Such is the case for SOCASH which was able to land investments from Japan even before their entry into the country which was largely due to their performance and success in Southeast Asia.

Also read: Modern solutions to modern problems: How Plusman LLC innovates healthcare

Another indicator of the country’s strong investment culture is the fact that a lot of investments in the general Asian ecosystem come from Japan, even among companies that operate elsewhere. This shows that Japanese investors are very open to supporting innovations as long as they are backed with a strong business model and a promising idea.

To illustrate, Incubate Fund itself has over 250 startups in its portfolio, making it one of the largest seed stage investors in the country. The Japan headquartered VC firm also holds operations in Singapore, India, and the United States which goes to show that they mean business when it comes to supporting global ideas.

Challenges and support for global startups

 Of course, when it comes to businesses expanding in any country, it is important that they have access to support and assistance from local ecosystem players. In Japan, one institution leading the charge is the Japan External Trade Organization (JETRO). JETRO is a Japanese governmental non-profit organization that supports not only Japanese startups seeking to scale outside Japan, but also global startups exploring opportunities in Japan.

The key thing for such expansions is always going to be localisation and adapting to unique cultures and common practices. For SOCASH, being able to navigate through complex ecosystems is invaluable especially for a young startup. “In Japan, each prefecture probably has its own innovation ecosystem,” Sivan explained. As such, JETRO’s ability to connect global startups to local ecosystems allow these startups to explore strong partnerships, B2B networks, and accomplish so much more without expending too much time and effort.

Also read: Online threats? Protect yourself with these tools

How the Japan government operates is by offering a full-range of services designed to support startups often depending on the maturity level of the companies. According to Kiewai Khoo, JETRO’s Director for Business Development and PR, the organisation provides global startups with local market information as well as connecting them to figures, potential partners, and institutions that they should be working with. “We are the first window they could approach to understand how they should enter the market,” said Khoo.

To gain access to more insights on the Japan market and how your startup can expand in the country, you can view the full webinar below.

Also, if you are looking for a more personalised discussion about your specific startup’s plan to expand to Japan, we invite you to sign up for a chance to have an exclusive 1-to-1 consultation with JETRO. You can sign up here.

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This article is produced by the e27 team, sponsored by JETRO

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Grab has completed the acquisition of a majority stake in Malaysia’s mass-premium supermarket chain Jaya Grocer, the tech giant announced today.

The acquisition enables Grab to bring more Jaya Grocer retail stores onto its marketplace and leverage Jaya Grocer’s large supplier network further to expand its GrabSupermarket product line at lower costs. This way, the two companies plan to bring on-demand grocery delivery to more consumers in the Southeast Asian country.

Additionally, Grab and Jaya Grocer also announced the rollout of GrabPay and GrabRewards across all Jaya Grocer physical retail stores, expanding the former’s cashless wallet usage.

“It is our vision to make on-demand groceries more accessible for everyone. Jaya Grocer is known for its wide selection of good-quality fresh produce and grocery products. By combining our extensive on-demand delivery fleet and capabilities with Jaya Grocer’s strong retail presence and supplier network, we can deliver these quality products to more homes even faster,” said Anthony Tan, Group CEO and Co-Founder, Grab.

Also Read: Grab injects Series C funding into Indonesia’s e-investment platform Bareksa

Established in 2008, Jaya Grocer operates over 40 stores today, with the majority located in Klang Valley.

“I have built Jaya Grocer from the ground up — from our first store in Klang Valley to over 40 stores today. Grab’s solid track record and ability to execute in a hyperlocal way gives me confidence that I have found the right partner to take Jaya Grocer to new heights. This acquisition provides us with an amazing opportunity to not only grow as a company but also grow the market for online grocery services in Malaysia,” said Teng Yew Huat, Founder, Jaya Grocer.

The acquisition comes at a time of accelerated growth in on-demand grocery delivery services. As much as 64 per cent of Southeast Asia’s internet users purchased groceries online at least once during the pandemic, yet online grocery transactions only accounted for approximately 2 per cent of the total grocery spend.

It is estimated that online grocery in Southeast Asia could grow to US$50 billion in gross merchandise value — the size of the entire e-commerce market today — at a 10 per cent penetration rate similar to advanced markets.

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Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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MedHyve, an online B2B medical equipment marketplace, has raised US$407,500 in pre-seed investment.

Pegasus Tech Ventures and Foxmont Capital co-led the round, with former Lazada and Alibaba executives from 10K Ventures joining. 

MedHyve will use the capital to strengthen operations and technology to make medical supplies procurement in growth markets, like the Philippines, more efficient and cost-effective. 

Founded in 2019, MedHyve aims to make quality medical supplies and equipment accessible to more medical institutions. The marketplace is fitted with intelligent procurement tools and dashboards. The goal is to make purchasing medical supplies cheaper and easier for hospitals especially those in the provinces.

Also Read: Monde Nissin CEO backs Foxmont Capital’s initial close of US$20M Fund II

“The investment will allow us to reach more medical institutions and provide them with the help they need to serve their communities,” Nigel Lirio, Co-Founder and CEO of MedHyve said.

MedHyve currently carries over 100 suppliers and 5,000 products online, serving 600+ hospitals and clinics across the Philippines. 

Digital technology has disrupted many industries, and healthcare is no exception. The COVID-19 pandemic further emphasized this, accelerating the pace of technology adaptation across the industry. With the help of this funding, MedHyve will continue to work hard to realise its goal of revolutionising healthcare through technology-powered innovations.

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Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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As businesses emerge from a pandemic that drove many to adopt digital payments, they are now looking to leverage their investments for faster recoveries. What’s more, consumers too are showing all the signs that digital payments will continue to grow; 93 per cent intend to try at least one emerging payment method in the next year, while close to three in four would both shop at small businesses more frequently if they offered more payment options, and are more loyal to retailers that offer multiple payment options.

Looking at this trend, I’d argue that smart businesses should even view payments acceptance as a revenue growth driver.

The more digital payment options a merchant makes available, the more points of interaction (POI) it has with consumers. As the number of touchpoints grows, they can drive operational efficiencies, create loyalty programs and improve the customer experience.

These outcomes can help businesses grow their revenues and the ROI on their acceptance investments.

For example, QR codes have proliferated around Asia as a simple and easy acceptance point, and many businesses have started digitising payments with them. They are also mobile, a feature we’re making even easier for micro and small merchants through its patented QR on Card technology.

It does what the name suggests: places a QR code on a card, so consumers and micro-merchants can use one tool to accept and receive payments – from anywhere. This solution requires little onboarding and no hardware costs for merchants. It also provides consumers with an easy, touchless and hygienic way to pay.

Also Read: Pocket power: 27 personal finance startups in SEA to help you manage money

Getting paid is now even easier

There are two additional ways to solve the “getting paid” challenge. In one instance, consumers can scan a QR code without the need for an app directing them to a merchant’s online checkout site. With this, the mobile device essentially becomes a checkout counter through which they can pay with stored credentials or Click to Pay.

We’re working on a second solution with banking partners to enable consumers to scan a QR code and pay using a Mastercard card.

While QR codes provide a convenient experience for consumers, tap and go contactless payments with a card or mobile device are the fastest way to pay. Small merchants– mainly those who want to broaden their customer base– can provide this experience via Soft POS.

They download the app-based acceptance point onto a mobile device to do so. This helps merchants widen their acceptance net, giving them the flexibility to accept payments in and out of the store and provide a better consumer experience earlier in their growth stages.

Accepting account-to-account and card payments facilitates digitalising a significant proportion of merchant revenues. Soft POS advocates recognise this and propose several business management tools integrated within the acceptance point.

This transformation opens new avenues for merchants to digitalise other aspects of their business. For example, Zoho offers small businesses more than 45 integrated suites of business apps through our partnership.

Smart POS will only get smarter

For small and medium-sized businesses with greater in-store presence, smart, dedicated terminals can be a more efficient, easier way to accept payments of all types and free up mobile devices. These can also be integrated into more robust software solutions.

As the next generation of payment solutions enables biometric payments, the contactless experience will ratchet up yet another notch. In the not-too-distant future, a consumer will be able to walk up to a self-checkout Smart POS, smile, be directed to a checkout page with their stored card credentials, use loyalty points at the point of sale, approve a transaction and walk out of the store– all without needing to touch a card or phone. And this will happen with the consumer’s full consent and their privacy protected.

Also Read: Telling the fortune of digital payments in 2021, CNY style

This futuristic consumer experience is not too far away. According to the Mastercard New Payments Index, 44 per cent of consumers in the Asia Pacific said they plan to use biometrics next year.

To capture this growth, we’ve partnered with an industry leader to create a certification process to ensure biometrics vendors provide the highest level of cybersecurity possible. Innovating and providing multiple POS solutions will enable merchants to tailor their payments strategy, better engage consumers and capture new revenue opportunities.

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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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Since its inception, e27 has tried to nurture this one, big happy community. Empowering entrepreneurs with the tools to build and grow their companies is both mission and ethos; the very reason that this platform exists. Everything we do, whether online or offline, ties back to this.

While we do our best to bring you the latest updates, views from KOLs in the ecosystem, learning guides and resources and even live interactions with investors and unicorn leaders; we learnt there was nothing more enriching and heartwarming than learning from each other.

And that is why we have been running the e27 Contributor Programme for five+ years now. Simply put, the Contributor Programme is where you voice your views. Learn about our motivation and why we are running this programme.

This is your one-stop guide to learn more about the programme, how to join the bandwagon and nurture that writer in you. If you don’t have a natural flair for writing, don’t worry … simply bring your opinion and we will bring out the writer in you.

What is thought leadership and who is it for

Misunderstood as a marketing strategy; thought leadership effects are longer lasting. It not only enhances your personal brand reputation but also helps build decision-makers’ trust, facilitate networking, and help close business deals or strategic partnerships for your organisation too.

Anyone can become a thought leader and benefit from the added visibility. All you need are passion, expertise, and honesty, says Muara Makarim, who has helped startups such as Shopee and Circles.Life at their thought leadership game.

Learn her secret recipe to thought leadership via this short video guide:

Writing great content used to be privy to grammar nazis and literature lovers, but in the digital era, almost anyone with an idea, opinion, comment or observation can write a good thought leadership piece with some guidance and knowing the right tools to leverage.

You want to be a thought leader but you are not a professional writer? This article is for you if you are an expert in a given field and keen on leveraging your thought leadership for better brand positioning but are hesitant about your writing skills.

Using the e27 Contributor Programme

Now that you know what thought leadership really is, how it can help you and your brand and how you can use writing to establish your thought leadership, it’s time to know where. The short answer is e27 Contributor Programme. Reach out to e27’s over 2M+ readers and 50k+ newsletter subscribers by using the e27 editor to publish thought leadership articles.

Writing and getting published doesn’t necessarily have to be a complicated drill. Leveraging technology, the e27 platform makes it extremely simple for anyone with authentic, original and relevant content to become a thought leader in just a few simple steps. We have a simple 3-step process to help you publish your own articles: write and submit, get curated and get published.

Meet the popular thought leaders

We have a growing army of e27 contributors who stepped up and shared their stories, their pain points, their best practices, their sympathy, their views–– their voices. In 2020 alone, we saw 800+ new members join the e27 Contributor Community. And it expanded to include investors, VCs, corporate executives, government officials, academics in addition to the core group of startup founders.

Get inspired by the first edition of e27 Voices– our annual hall of fame to commemorate thought leaders in the tech startup ecosystem who have used the Contributor Programme to share their views with the tech startup community.

If you are keen but still have queries, check out our FAQ and submission guidelines. If you have a topic in mind that you would like to write about but need some help with, send us your pitch.

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In this episode we are excited to welcome Elius Hussain, co-founder and former CEO of Pathao, a Bangladeshi super app that offers ride-sharing, food delivery, and content streaming, among other services.

In our conversation Elius shares more about the Bangladeshi market, the importance of building a solid local team that knows the market better than HQ do, and empowering them to make important decisions, and how to think global day one, purposely building the company to work in multiple markets and transcend borders.

This episode is sponsored by our partner, ZEDRA. Learn more about how the ZEDRA team can support you in expanding to new markets.

Find our entire podcast episode library here and learn more about our forthcoming book on global business growth here.

Also Read: Today’s top tech news: Bangladesh’s Pathao is said to merge with SureCash

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The article was first published on Global Class.

Image Credit: Global Class

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The pandemic has pushed many beyond their limits from social isolation, resulting in potential long-term mental health issues. This could be a result of, fears over job security, the challenges of working from home or the tragic consequences of the pandemic taking a loved one.

This is a global issue, as we are seeing a rise in mental health conditions. This is further exacerbated by the need for remote work, which is often accompanied by higher risks of poor work-life balance, burnout, and isolation from colleagues at the workplace.

This has sparked a new phenomenon coined as ‘Coronastress’, stress occurring due to the COVID-19 pandemic.

Malaysia is seeing similar trends as one in three Malaysians suffer from a mental health condition. Despite the high prevalence, more than 80 per cent of workers with a mental health condition choose not to seek professional help, owing to a lack of resources and the fear of potentially being seen as “unprofessional” in a work environment. 

This has an adverse effect on both their personal and professional lives. More than 60 per cent of respondents surveyed globally, said they were losing at least one to two hours a day in productivity due to  COVID-19—related stress.

Employers are beginning to notice and are starting to emphasise a healthier work environment while ensuring that the support for their employees’ mental health goes beyond acknowledging the issues or allowing a ‘mental health day’. 

However, is enough being done and can Malaysian businesses keep up with the issues caused by the MCOs and “coronastress”?

Also Read: How to foster mental wellness in the workplace and boost performance

Understanding the impact and addressing the real issues

Identifying the actual issue is critical before developing any potential solutions. While not everything will be within your purview to manage from an organisational standpoint, knowing the various struggles of your employees would enable you to create better processes and ideas that are more empathetic. 

As with most crises or significant challenges, it weighs down our mental defences. For employees in Malaysia, it is likely that many are feeling the pinch from battling feelings of loneliness exacerbated by lockdown regulations and social isolation, financial stress, to poor work-life balance.

While not all these struggles can be deemed purely ‘work-related’, employers and leaders can help mitigate potential stressors. 

During the multiple MCOs, many employees complained about back-to-back virtual meetings and the pressure to continue working or responding to messages past their work hours.

As 63 per cent of Malaysians struggle with work-life balance while working from home, boundaries need to be introduced and respected by both parties. 

Additionally, the problem lies with communication and feeling supported by management. Too often, employees feel burnt out due to unclear requirements from their bosses and managers.

There’s a level of frustration as instructions change with little notice and ambiguous explanations while they’re expected to comply with the changes without knowing the actual expectation. This uncertainty with their work performance often breeds worry and stress about their work performance. 

Dealing with mental health needs to be normalised in Malaysia’s workplace

According to the World Health Organisation, mental health refers to a state of well-being in which individuals realize their abilities, can cope with the normal stresses of life,  work productively, and contribute to their community. 

With the mental health conversation gaining ground, some leaders have already started implementing various measures and policies to aid and support their employees.

Also Read: Why Khailee Ng puts mental healthcare support as key to successful founders-investors relationship

These may be small changes such as implementing simple boundaries such as “no work correspondences after 5pm on weekdays” or providing access and compensation to seek professional help.

However, these initiatives, while a step in the right direction, are not enough. Employers need to step up to enact real cultural change. This can be achieved through a multitude of several ways though most would include the act of changing some processes within your existing workflow. 

This can be in the form of establishing clarity on job expectations, by improving the communication between managers and their individual team members. This can help manage or remove stress factors caused by WFH or uncertainty in your evolving job role.

By implementing practices such as Objectives and Key Results (OKRs) into your team’s workflow, it helps to align everyone and ensures that clear expectations are set so that employees don’t have to stress about what they’re working towards. 

Additionally, OKRs are better able to boost their productivity and develop positive habits and a growth mindset which helps in alleviating negative self-talk, thus improving their mental health. 

When businesses and their employees have clear shared goals they have set together, it allows them to distinguish and prioritise their work tasks easily and helps employees alleviate their stress as they’re better able to manage their time and tasks.

Adding to this,  it is also essential to have frequent check-ins amongst team members to keep everyone on track. Develop and encourage meaningful conversations and understand employee needs, you will be able to identify any potential issues early on and implement solutions before they escalate.

Also Read: What you can learn from Carsome about championing mental health for employees

By improving the working conditions and putting practices in place to drive better employee wellbeing, organisations are better able to achieve a high-performance culture that’s able to successfully attract and retain their talents.

In fact, one of the key reasons why companies such as Google and Netflix are deemed as such great places to work is because they understand employee wellbeing and are able to effectively engage them. 

Coronastress doesn’t seem to be going away anytime soon. As offices begin to open up again, it’s important to ensure that your employees are feeling great physically and mentally.

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As the pandemic crisis persists, “Zoom fatigue” continues to pose challenges to the online learning/education industry (Zoom fatigue” is a sense of exhaustion and boredom caused by attending too many meetings, classes, or seminars). As a result, teachers keep facing overworking problems and students increasingly drop out from classes (online, offline or hybrid), adding to the “retention crisis” of the industry.

The pandemic has also widened the inequality and digital divide across different income segments, with those with limited household income/savings dropping out of school altogether. As attested by ErudiFi CEO Naga Tan, many of the edutech firm’s school partners saw a corresponding drop in enrollment rates and an increase in student attrition during the pandemic.

Even before the emergence of the pandemic, online courses consistently recorded higher dropout rates (5 per cent to 35 per cent) than physical classes, research showed. 

To address this, edutech startups, which consider Zoom fatigue a short-term symptom, strive to make the e-learning experience a fun and more engaging journey for educators and learners.

Over the past years, many edutech startups came up with different innovative solutions — such as continuous assessment of individual performance, improved learning management systems, tailored courses to strengthen the knowledge absorption capacity, and gamified interactive learning design. 

Among them, two approaches stood out — data analytics and study-to-earn — evincing interests among educators with their capabilities to cope with the looming “retention crisis”.

Data analytics 

Singapore-based ErudiFi aims to address the 10-15 per cent annual school dropout rates by providing its partner educators with data-driven financing solutions that support student recruitment and retention. The firm helps track tuition fee disbursements and offers real-time analytics for dropped students.

But the approach that mushroomed in the recent past is personalised/adaptive learning, which stands alone as the most buzzworthy data-based method to raise engagement and secure desirable retention rates.

With the support of technology, human intervention, curriculum design, or pathway, and most likely a mixture of these, personalised learning tailors instruction to the skills, understanding, progress, and preferences of an individual learner for the better.

A typical model is to leverage analytics and technology to identify areas where students or teachers are weak and recommend the necessary lessons. 

For example, Singapore-based LingoAce employs multimedia, gamification features and AI-powered tools to assess the teaching quality and finetune the curriculum and learning experience after a lesson is conducted. It later leverages live one-on-one and small-group classes with teachers to provide real-time feedback and interaction.

Noodle Factory, another startup, takes a step ahead and utilises natural language processing (NLP) to automate the creation, preparation, and grading of exams and assessments. It uses AI to provide human-like lessons, creating a personalised learning experience that provides direct instruction and feedback to learners.

While human teachers only teach one way of solving a problem, Noodle Factory’s AI tutors claim to learn and develop different methods and remember new approaches that students may have.

However, industry insiders have questioned these technologies’ true ability to raise the retention rate as they believe human interaction should be the core of a personalised engagement. For instance, Learner Net conducts small group courses with a smaller teacher-student ratio. It enables teachers to use different techniques and methodologies to work on students’ weaknesses in a targeted manner that is supposed to engage students more efficiently. 

In response, Noodle Factory CEO Yvonne Soh still believes that technology helps free up valuable time so that students and educators can spend more time on meaningful interactions instead of being replaced by machines. 

“Technology is great for facts and memorisation,” said Soh. “[With the help of technology], we are actually solving workload challenges for educators.”

Study-to-earn

With cryptocurrencies and blockchain becoming popular, the edutech industry, too, has started adopting the technology. The initial discussions of blockchain in education focus primarily on verifying certifications and accepting crypto for tuition fee payment. 

Another exciting development is happening — a reward system to encourage learning on online platforms and simultaneously raise the retention rate.

“Educators are willing to pay five to ten per cent of revenue for loyalty,” added Quang Mai, Director of Vietnam-based edutech accelerator Topica Founder Institute, adding that most profits in the education come from repeat transactions of loyal users/students.

By giving points for every course purchased or learning activity performed, educators allow students to use these reward points to buy more courses or unlock specific functions. Learner Net, for instance, is working with third-party merchants with whom students can use these reward points.

“We have also looked at NFTs [non-fungible tokens] to reward users,” Learner Net Founder Joe Ngoi told e27. “‘Study-to-earn’ concept is a blockchain take on the traditional gamified learning experience, with open-loop rewards instead of closed-loop rewards.”

However, the first-movers have the disadvantage: they have to invest money in educating the incumbents as blockchain, and its associated technologies are relatively new in the education space.

To break these barriers, Mai and his team are on track to launch MetaStudy; it is a central playground operated as a private blockchain for all educators to do loyalty driven by “study-to-earn” (a concept evolving from the “play-to-earn” frenzy). The mechanism, which Binance founder Changpeng Zhao mentioned in a tweet, helps increase students’ engagement and drive the retention rate up dramatically.

In essence, Meta Study network has a common token named MTS, which is used with all educators and allows them to issue their rewarding tokens backed by MTS to reward users/students. Their students can redeem, swap, exchange tokens in Meta Study’s exchange and a common marketplace for NFTs, products/services, or join Meta Study’s events and challenges to earn more.

“In traditional reward systems, those rewarding points are only usable in that specific education institution and could not be added together from a group of people such as family members who study in different places and levels, not to mention the burden of inventory management of gifts,” said Mai.

Though it is similar to loyalty platforms, such as what Urbox or Society Pass provide, with Meta Study network, educators can keep their brands with their rewarding tokens in the network and incentivise learners for better engagement and flexible learning options throughout their lives.

“Study-to-earn can be an appropriate incentive for learners, with the right tokenomics and as a part of a larger ecosystem,” Ngoi commented.

However, Alex Ng, Managing Director of EduSpaze, a Singapore-based edutech accelerator, is doubtful about the sustainability and long-term effects of “study-to-earn”, especially for younger learners.

“My view is that this can be useful if it’s well designed to encourage and motivate learners and not excessively used,” said Ng.

Students stay longer, but do they learn more effectively? 

Insiders say that current technologies’ data for personalised learning still tend to group students into generic categories. This may impact students’ learning efficiency as it cannot include their unique characters, personalities and traits.

“As competition stiffens, we are likely to see consolidation in this market as the bigger players aim to acquire more data,” said Ngoi.

That is why a sector-specific accelerator like EduSpaze aims to dive a lot deeper into creating the right community and ecosystem, maximising the leverage for these edutech startups.

“If more learning organisations and schools can share relevant, anonymised learning data, that will help the ecosystem move forward faster,” noted Ng.

Fortunately, the ecosystem stakeholders agree on the value of human interaction as the core of any intention to retain students and improve learning quality. For online learning to succeed, it requires not only a reliable platform but also a willing learner and a dedicated teacher.

Technology should help to improve learning outcomes and support teachers’ role as a form of reinforcement and not a replacement. It can help motivate learners with money or rewards, but only students who have an inner passion can do more and make a difference.

“Incentives can have benefits, especially when used to drive certain behaviours, but incentives alone will not help students to learn,” said Soh of Noddle Factory. “I do believe there needs to be intrinsic motivation for a student to perform well truly.” 

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