The Need For Working Capital Loans By The Electricals And Electronics Businesses

A strong and secure capital is the foundation of any good business. Small to medium scale businesses should be especially careful about their working capitals and where they acquire it from. 

Loaning working capitals has recently been appreciatingly welcomed in the market, especially by SMEs including electricals and electronics businesses.

Why Do You Need A Working Capital Loan?

  • Loaned working capital can effectively eliminate problems of regular cash flow
  • Businesses have recorded increased profits and greater sales margins
  • The credit limit for loaning out working capital to SMEs is relatively higher, with a lower interest rate
  • Many loan providers provide customized working capital loans to specific ventures such as electronic and electrical market which allows features like collateral-free terms

Management Of Working Capital For Electrical and Electronics Market

Like any other business, the electronics and electrical businesses need to source their capital from various places. Along with that, methodical management of finances is a necessary driving force for the success of any venture.  

Working capital loans or liquidity loans are mainly categorized as:

  1. Short-term liquidity loans: these last for a minimum period of three months to less than one year. Short-term working capital loans mainly function as turnover funds.
  2. Medium-term Working Capital loans: with a loaned period of 1-3 years, these funds are primarily used as turnover funds for day-to-day production and operation in a company.

Most electronic and electrical businesses depend on initial bulk capital, profits, and fixed assets for the functioning of the business. But what you must keep in mind is that this field of business is a day-to-day affair which requires regular sourcing of cash. In such a scenario, working capital loans tend to benefit an SME business owner to a great extent.

Understanding Working Capital Loans

A Working Capital loan is the capital your company requires for short-term goals and investments. The company’s assets and liabilities that hold for a short-term count as its working capital.

For example, if your electronics company requires several bills to be written every day, a billing machine would be a better alternative to save money and time. The acquisition of a billing machine would thus require working capital.  

Loaning Working Capital will not only ensure that your businesses run smooth but will also allow you the repayment of short-term debts and fulfilment of current expenses. Management of inventories, short-term assets and liabilities, and payable accounts is of utmost importance while running the company on working capital. 

Working Capital Loans For Small Businesses 

While working capital can serve the needs of large-scale ventures, small and medium scale businesses have markedly performed well in the market with a loaned working capital. The only difference is their market footprint size. Businesses that deal in electronics, electrical appliances, hardware appliances can greatly benefit with loaned working capital. Retail business also requires regular cash flow and will perform excellently well with loaned working capital. 

There are many banks both private and public that provide businesses with working capital loans. The ICICI Bank Working Capital Finance, HDFC Working Capital Finance, and the Channel Financing Program by YES Bank are some well-known working capital schemes amongst Small to Medium Scale Business owners. 

The HDFC Working Capital Finance provides capital regarding cash credit, letter of credit, and term loan.  All in all, if your business requires regular cash flow, availing Working Capital might be a good option for you.

LSI Words: Loaning working capitals, electricals and electronics businesses, Why Do You Need A Working Capital Loan, loaned working capital, customized working capital loans, Management of inventories, short-term assets and liabilities, repayment of short-term, Loaning a working capital, Working Capital Loans For Small Businesses, loaned working capita

 

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The Need For Working Capital Loans By The Electricals And Electronics Businesses

Building and running a business isn’t an easy job to do, and those brave enough to venture into entrepreneurship face a multitude of problems every day. One of the prime problems faced by business owners is the requirement of capital and dearth thereof.

That is where business loans (or working capital loans) come to the rescue of business owners, and there are a variety of ways in which businesses, especially those dealing with electricals and electronics.

  1. Constructing Advanced Infrastructure

Working capital provided to electricals and electronics businesses enable them to build offices and infrastructure that can aid the smooth functioning of the same. For example, using funds from working capital, the business owners can build better workstations for workers, better offices for other employees and improve the overall environment of the workspace that could directly result in improved productivity.

  1. Hire Competent and Skilled Workmen

Running a successful business requires having an efficient workforce. This becomes truer still for electricals and electronics businesses due to their critical relationship with the safety of the workers involved in their manufacturing as well as the customers who buy such products. Working capital loans allow employers to hire skilled workers and employees, without any financial constraints.

  1. Purchase State-Of-The-Art Machinery For Manufacturing Purposes

Working capital provides business owners to invest in technologically advanced machinery and equipment that workers can utilize to increase productivity and produce a quality product. Equipment and machinery pertaining to the latest technology increases the quality of the product, which in turn helps the business grow due to the positive feedback provided by the target customers.

  1. Better Preparedness

 Working capital helps business owners be slightly better prepared for any and all unforeseen circumstance that may arise in the future. Such circumstances may include any emergency payments that may need to be made to employees, and any expense relating to repair of machinery, upgrade of machinery and the like.

  1. Support for Transactions

Businesses require cash in hand for several transactions that they deal with on a daily basis and not all of which can be settled through online mode of payment. Working capital provides owners of such businesses with cash in hand that they can use to settle regular payments with workers, raw material providers/ service providers, and customers.

While over 80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of loan requests from small businesses are currently not approved due to their inability to provide collateral, companies like Flexiloans come to their rescue in such situations.

  1. Speculation Opportunities

Working capital also helps business owners widen their horizon by providing them with enough money to invest in other opportunities that may help expand their business reach. Such expenses include the purchase of new stock of products, investing capital in the production of other products apart from the usual products manufactured by them. Flexiloans also offers a line of credit facility, which allows clients to withdraw money as and when they require them.

Working capital loans help business owners to invest in better quality raw materials for their products, which not only improves the overall quality of the product but also improves the safety quotient associated with the same. It results in improvement in customer satisfaction, and of course, positively impacts the business.

LSI keywords: electricals and electronics business, business owners, working capital, working capital loans

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Rapid Urbanization Leading To Demand Growth In Steel Detailing Market

With the construction of skyscrapers and iconic structures mushrooming around the world, employing large quantities of steel in developments has been a rising trend seen in the densely populated developed cities. Currently, over 50{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of world’s steel production is used in construction.

Moreover, as the global population is expected to reach 8.6 billion in 2030 and 9.8 billion in 2050 along with rapid growth in urbanization, the demand for buildings and infrastructure will rise globally. Building high-rise towers is one of the solutions that most nations are adopting to address the future need for housing.

Also, since buildings are reported to be responsible for around 20{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of global greenhouse gas emissions, the need to minimize consumption of natural resources is becoming vital for future sustainability.

Constructing sustainable, as well as extraordinary structures have become a norm in most metropolises, who want to set them apart from the rest. The world’s marvel structures like The Eiffel Tower – Paris, The Brooklyn Bridge -New York, Burj Khalifa -Dubai, Taipei 101 in Taiwan and numerous other projects across the globe are erected using tons of steel that provides design flexibility and the endurance to a structure. Steel is recognized as a green product for been wholly recyclable, and its ease of maintenance makes it an attractive building material.

Steel is strong enough to resist any damage caused by natural disasters including tornadoes, hurricanes, and earthquakes. It is also preferred the choice of the architects who get more flexibility in designing buildings and homes, creating more great spaces with steel.

Hence, both in the developing and developed nations, there is a significant growth potential for use steel in construction and manufacturing. This, in turn, provides steel detailing companies to become an essential part of the sustainable construction solutions, enabling development of low-carbon-neutral buildings.

Steel Detailing Aids In Development Of Engineered Steel Structures

With the high-paced growth in the development of incredibly engineered steel structures, the field of structural steel detailing services is becoming technologically innovative, thus performing the job more efficiently and cost-effectively.

Structural steel detailing is divided into two parts: first is the structural steel shop drawings or detail drawings that provide all information necessary for the steel fabrication process. It includes information like materials used, component sizes, dimensions and all other information concerning to the fabrication of each component.

The second is about the erecting drawings consisting details about erection and fitting of the steel components, i.e., information about the position of each part, the requirements for installing them, and all the associated field works.

Another essential area of steel detailing services is steel design, connectivity diagrams areas, anchor setting plans, shop bolt summary, BoM (Bill of Materials), and more.

With all the essential detailing information provided beforehand for standard sections, steel bolts, and welds, etc., the builders can then picture their proposed steel building structure and build up efficient construction systems.

Technology Driven Steel Detailing

The development of steel structures is done under controlled industrial processes. With the advancements in software technology such as computer-aided design (CAD), steel detailing and the structural design that was earlier completed manually with hand drawings is now prepared using software, making the task easier, quicker and very proficient. Use of mechanical aid as part of its structural design has made the transition from imagination to reality was quite beneficial.

Structural Steel Detailing Facilitates Flawless Developments

Steel detailing services furnish a precise image of each structural element, its position, connections with other parts and exact dimensions, thus being instrumental in proper assembly and flawless development, which is a growing need in the urban communities.

Pre-engineering of steel structures makes these constructions affordable and low-cost. It also allows measuring the longevity of a project, taking into account the physical, environmental and economic factors before the actual engineering is done.

The construction industry across the world has thus seen a surge in steel detailing companies that offer expert and experienced engineers for accurate and cost-effective detailing services.

Tekla Steel Detailing Enhances Works Performance

While traditional detailing methods have been supporting the industry over several years, the visual representation of structures through the BIM (Building Information Modeling), intelligent 3D model-based detailing software such as Tekla Steel Detailing has made the process of erecting buildings more accurate, reducing the likelihood of errors.

Therefore, city developers are increasingly looking at enhancing their structural steel detailing process using 3D modeling programs that reduce the chances of costly surprises and reworks, permitting total process optimization, ensuring that delivery is error free and on time.

Thus, the structural steel detailers using the advanced 3D detailing and modeling options assist the engineers, fabricators, constructors, and builders across the construction process, as it is impossible to build any structure without using detailed drawings, reports and plans that illustrate various phases of the construction process.

Steel Detailing Challenges

The primary challenge for the industry stakeholders is that 3D modeling software programs costs/training is higher and the process is far more complicated – so it requires specialized expertise.

Therefore, only an expert steel detailer that knows about the various types of steels and materials and architectural details will be capable of giving accurate information.

This makes the presence of high-quality steel detailing companies a vital part for any urban city development across the world, for they aid in planning city’s buildings and model structures like flyovers, bridges and various other types of buildings residential and commercial buildings, factories with the highest level of precision.

LSI Keywords: steel detailing, structural steel detailing, steel detailing companies, tekla steel detailing, Steel structures, 3D modelling software programs, 3D modelling programs, 3D detailing, steel detailing, structural design, steel fabrication process

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The Steel Detailer – The Foundation Upon Which Structures Are Built

Real estate is one of the biggest and most lucrative industries currently, what with the need for individuals/groups to find a space of their own in today’s ever-expanding world.

By extension, construction has also become a big part of this process, and such is the demand to complete high-end work in today’s world that different agencies are willing to bid the highest amount for a particular project. This means that construction firms now play a vital role in ensuring that building of any structure goes off smoothly, sans hitches or incidents.

This, in turn, means the need for experienced and smart project managers, structural engineers and architects has become highly important. However, the most important task arguably is that of the steel detailers’, who take inputs from both the engineers and architects to make a blueprint of how the structure should be built –  inside out. This process is known as steel detailing, and this is what we will take a closer look at here.

Such has been the impact of the real estate industry that it contributes to almost 4 percent of the total world output, with the total global property value coming up to $217 trillion by 2015 end. 75 percent of this is made up of residential property. For those interested, the world economy had a Gross Domestic Product output of $80 trillion in the same timeframe.

In the Indian context, the real estate domain is the 2nd largest employer after agriculture and is scheduled to develop exponentially over the next ten years approximately. The real estate market of Indian is projected to reach $180 billion by the year 2020. The housing sector itself forms around 6 percent of the country’s GDP.

Know The Work

To begin with, let’s have a look at two of the key terms here: steel detailing and steel fabricator. A steel fabricator is a company that provides – and at times installs – steel foundations for any construction project.

Steel detailing is the process where a person, known as a steel detailer, makes shop drawings for the steel fabricator. Shop drawings are a set of drawings or a kind of blueprint which shows how the steel members have to be erected to get the best possible shape and stability for the structure being constructed.

Based on the steel detailers’ drawings, the fabricator will cut and weld the members together. Along with this, the detailer will also generate instructions for layout which will aid in building and put together the steel skeleton.

Number crunch: In the US, ironworkers (those who install and reinforce iron and steel to form the structure’s skeleton) are paid substantial salaries for their work. According to the country’s Bureau of Labour Statistics, ironworkers’ median pay is $50,830 per year, and $24.44 per hour, for 2016. There were around 90,300 such ironworkers who were employed in 2016.

Did you know: Structural engineering dates back to around 2,700 BC in Egypt, with the construction of a step pyramid by Imhotep, the chancellor to pharaoh Djoser. However, the oldest structures in the world are the Megalithic Temples of Malta, a group of temples even older than the great pyramids of Egypt or the Stonehenge in England.

Why The Steel Detailer Is So Crucial

The detailer is so crucial to how the overall project shapes up. Having to combine the design of the architect and calculations for size and locations of the steel by the engineer is not easy, and slight deviations can lead to stumbles in how the structure finally looks. The steel detailer needs to be aware of the guidelines and norms of all aspects regarding construction so that the structural steel detailing can be made according to the common standards followed. A good detailer should be able to make even the most difficult of projects conceivable within the given budgets and timeframe.

Did you know: The average pay for a steel detailer per hour is $19.75, while total pay can range from $30,000 to $70,000!

Why Is Steel Detailing Now In High Demand?

Anyone who has followed the developments around the world recently will know that construction is a growing field, what with the worldwide population heading towards a “population explosion”, this means that both residential and commercial complexes need to be constructed every other day. There is no lack of construction work around the world, but each country will have its own sets of challenges and regulations to work around.

This is where a good steel detailer, who knows his/her way around a construction site and can communicate clearly with the various people he has/she to work with (engineers, architects, contractors, fabricators) as to what is the best way to move forward with the project.

While there is no shortage of steel detailing companies around the globe, finding a detailer who can provide quality and clarity is not easy. Of course, this is not to say that the detailer is the be all and end all when it comes to construction of a structure.

But someone who is good at the job can be a big difference between extra costs or losses incurred and making optimum use of available resources to come up with the best structure possible.

Know the union: Most developed countries have trade unions, which include those working in the construction field. These unions take care of demands, requirements, wellbeing and safety of workers.

Technology Cutting Off Detailers

Many companies have started making use of technology to aid detailers in coming up with the best models for a structure. In fact, nowadays, they are doing away with detailers, instead focusing on using the accurate virtual models that are prepared by machines. All that is to be done is feed in details of the construction site and structure, and an accurate blueprint is brought out by computers.

For example, the Tekla steel detailing model has been a big success, thanks to the BIM (Building Information Modeling) technology that is used by the company. This form helps reduce fabrication errors and minimizes the need for rework.

Technology has made its presence in many fields in today’s world, be it sports, finance, politics or human resources, and it wouldn’t be a surprise if the construction field embraces its use shortly. Until then, combining the best quality of steel, the best manpower, the best engineers and architects and detailers can help contractors and fabricators come up with the best structures.

Some of the software used for steel detailing are:

  1. Bocad by AVEVA
  2. Advance Steel by Autodesk
  3. ProSteel by Bentley Systems
  4. Tekla Structures by Trimble Navigation
  5. TecnoMETAL by Steel&Graphics
  6. SDS/2 by Design Data
  7. Soft Steel
  8. SSDCP
  9. SOLIDWORKS
  10. TSD (The Steel Detailer)

Primary Keywords: steel detailing, structural steel detailing, steel detailing companies, Tekla steel detailing

LSI Keywords: real estate, construction, project, project managers, structural engineers, architects, steel detailers, blueprint, steel fabricator, steel foundation, shop drawings, steel members, cut and weld, steel skeleton, common standards, technology, virtual models, fabrication errors

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Print Your Own Reality, Print Your Own Home?

“I’ve Heard Of This, But How Does It Affect Me?”

Though there are no limits to an artist’s creativity, there are of course limits to his/her execution of their creative vision – though that is rapidly changing due to relatively recent technology.

We’ve all heard the buzzwords – 3D Printing, biometrics, blockchain/cryptocurrency and the like. But these are largely looked at as the basis for a futuristic science-fiction TV show or a way to unlock our smartphones at best.

2014 saw a growth rate of 35{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in the 3D printing industry alone, across every conceivable industry, from art design and construction to the medical industry and aerospace/ defense as per Forbes.

“But What Changes Can We Anticipate?”

3D Printing, however, is something we’re seeing touch our lives more and more in the past decade – quite literally. Structural steel detailing, in particular, is making great application of the three-dimensional physical mapping and planning properties.

The ability to map a physical space down to a couple of microns is revolutionary in the Structural Steel Detailing industry for very obvious reasons. The first of them is a reduction in the cost of procurement of materials and eliminating wastage thereof.

Constructions materials, TMT Bars, cement blocks and ceramic tiling often go wasted in the tons, with 3D modeling used in conjunction with Steel Detailing, to map out every bit of material required down to the last bits and scraps.

Saving Resources, Saving Lives

This is especially important since Steel Detailing and other construction material consumption are both on a massive rise, given that global poverty was cut in half in the past 30 years.

With government-funded projects across the world, everything from army bunkers and weapon system components, to water storage and pumping parts in developing countries are seeing a massive increase in production via structural steel detailing from several local and global stakeholders.

You can 3D print anything you download the model for. And given the right machinery and resources, it can become a life-changing or life-saving reality in a very short period.

Conventional Examples

A great example and early adopter of this in the manufacturing sector is Ford in the US. As per 2015, Ford was saving over $500,000 per month producing large segments of cars as per 3D modeling.

Ford is also known to revolutionize 3D modeling and structural steel detailing in automobiles through their patented Ford Freeform Fabrication Technology. This is claimed to have cut production time down to hours (from days or weeks required to manufacture it earlier).

NASA’s Made in Space programs allows astronauts and engineers in the International Space Station(ISS) to fabricate their own parts and replacements without needing expensive and time-consuming resupply (through conventional resupply rocket launches and docking).

It’s also known to offer free 3D blueprints for everything from 3D models of launch vehicles and satellites to texture models of the moon’s surface for example.

Creative Examples

From Van Gogh’s Ear to entire housing blocks, the potential and spectrum of what Steel Detailing companies can achieve have only recently seen proper utilization given fairly recent strides in technology.

The applications of Steel Detailing have touched industries extend from bridges to offshore oil rigs such as the ones that Tekla Steel Detailing solutions deal in. Another great example would be this mansion and apartment complex, both mapped and constructed from 3D models entirely.

The components were mapped and “printed” separately and then assembled onsite with almost zero wastage and huge savings in planning and design costs as well.

Artists and inventors can now envision a project in a 3D environment, mapping it dimension by dimension down to the last detail. Curves, load-bearing structures, pylons and the overall picture come together like never before – giving the architects and planners unprecedented accuracy in their execution and assembly phase.

Application Where It Matters the Most – On the Battlefield

Even though eliminating material wastage and ensuring higher accuracy and lower build times are admirable achievements by themselves, they are already being used in crucial operations across the world in literal life or death situations.

The military shows a great deal of interest in the technology as it would eliminate a huge amount of logistical problems about resupply and repair of everything from rifle parts to the components of a guided missile or tank.

These could then be manufactured near the front in a Forward Operations Base (F.O.B) instead of having to be flown, driven or sailed in from their home bases (a logistical nightmare in hostile territory for the US, flying supplies to US troops operating in Afghanistan or Iraq).

Pre-modelled bridges and bunkers can similarly be deployed within hours of entering a combat zone instead of the usual days – even under fire.

Separated by Continents – Connected Via (3D) Blueprints?

Out of over 7.2 billion people who live on this planet, an estimated 1.6 billion lack adequate housing, electricity, water, and sanitation wise – or housing altogether in most cases.

The past decade hasn’t been kind to some of the harshest places to live in politically or climatically. Whether its political instability across Africa (Boko Haraam) and the Middle East (Syrian civil war and rise and fall of ISIS), more than a million people have been displaced by violence alone. This isn’t even accounting for recent droughts, earthquakes, and hurricanes.

NGOs and Governments along with international bodies have made rehabilitation of an estimated 66 million refugees worldwide (as per a UNHCR report) a top priority if peace and development are to reach these regions.

After all, you can’t be curing cancer or inventing the next Mars rover without even a roof over your head. Structural steel detailing companies are no strangers to this reality.

To this effect, “prefab” or prefabricated components are increasingly being used in refugee camps and rebuilding projects, not just because of lower costs than conventional building and conceptualization, but from a time perspective as well.

Endgame…Or Is There An Even Bigger Picture?

While housing the worlds homeless and bringing crucial resources to use are noble pursuits in themselves, one can’t help but wonder if there’s more that can be done with this concept and what it’s future applications could be. 222

3D Modelling is used in everything from designing lifesaving pacemakers, and metallic skull plates post craniotomy to life-ending weapons systems with everything in between being a distinct possibility.

It’s now possible to print tissues and organs, plaster casts and even pills in the Biotech industry. Recent science has shown developments in 3D printed prosthetics for limbs to facial prosthetics and reconstruction surgery.

This is one industry and technological concept to keep an eye on in the years to come.

LSI Keywords used:

  • Steel detailing
  • Structural steel detailing
  • Steel detailing companies
  • Tekla steel detailing

 

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Why live-in before marriage? Because it’s a boon

It’s the sort of thought that would bring our parents to a horrified halt. There is the real fear a grandparent might catch a whisper of it, and there will be a scene reminiscent of an Ekta Kapoor serial.

But ask the younger generations, and it’s common knowledge that it might just be the smart choice.

  1. Try Before You Buy

Live together or learn how to live together, and however bad it might be to realize that you can’t do it, it’s still better than having to get a divorce.

Just don’t treat a live-in relationship like a trial, where you can bail out any time. If you aren’t serious enough to stick it out through the hard times, then it’s better just to break up. The idea is to try and avoid a messy break-up!

  1. Low-Key Living

Even if you’re convinced that the two of you are going to get married and live happily ever after, it’s still a good idea to have a live-in relationship.

Why? Because then you learn to adjust together without all the stress and expense of a marriage hanging over your shoulder.

After a wedding, buying a new fridge or going on a vacation might be impossible because all of your spare cash is gone in the marriage. It creates a lot of extra stress when you’re learning how to adjust to a new person in your space.

  1. Learn the Differences From A Roommate

I am a great roommate/flatmate. I’ve heard it from 7 out of 8 people I’ve lived with, so it has to be right! So I’m sure to have a great married life, right? Nah.

Treating a married life like having a roommate is going to end pretty badly!

Learn how to live with a spouse, how to live with someone permanently and deal with the problems that crop up. It will take time to unlearn behaving like a roommate.

  1. Have Some Privacy

The minute you’re married, you’re going to have many well-meaning (or not!) relatives asking about your ‘plans.’ When the question is –  are you going to give them a kid to play with?

Apart from offering them a fluffy toy and suggesting that kids aren’t toys, the other alternative is just to grin and bear it.

When you’re already trying to adjust to a new living situation, these small constant stressors can become unbearable.

  1. Enjoy Yourself!

Following directly on from the above, once you’re married, in a way you’re everybody’s business. Your parents, your spouse’s parents, every relative you haven’t ever heard of will come out of the woodwork to explain the ‘realities of life’ to you.

Have a live-in relationship and enjoy the private time that you can have together without having to take into account roommates, relatives, and everyone else.

Whatever you do, always be honest with each other and learn how to take the little problems less seriously. It’ll make both marriages and live together much more comfortable!

Keyword: Live in before marriage

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Why live-in before marriage is a boon

You’ve met a person, and realized that they’re THE person. So, the most natural next step is tying the knot. Right? Maybe not. How about living together for a while before calling the priest? It just might be the best decision you’ve made as a couple.

After the fireworks

While the initial stages of any relationship are arguably the most exciting and ‘through the roof,’ it should be borne in mind that your relationship will evolve. And time is critical here.

Marriage is a long-term commitment and decisions about it shouldn’t be made in haste. Living with your partner gives you that buffer time and brings you face to face with the realities of marriage and your relationship in general.

By cohabitating (that’s the fancy term for living together by the way) with your partner, you will experience how your lifestyle ties in with your partner’s.

Though mental and emotional compatibility is excellent, your lifestyle should not strongly conflict that of your partner’s.

Chores: Big and small

If you thought that was never going to happen, we’ve got news. Sharing a house and making it a home together requires a lot of effort.

You see, it’s easy to maintain oneself for an evening date. But when you know you’re going back to the same house after movie night, and there are clothes to remove from the washer, the leaking showerhead to fix and plants to water, things get real – real quick.

So, go ahead and share the apartment with your partner and get a dry run for what’s to come very soon. After all, practice never hurt anybody.

Money matters

Yeah, this is a big one that no couple likes talking about. Finances play a vital role in effectively running a household.

And if you are looking to take your relationship to marriage, living in together will provide you with the much-needed experience of dealing with money matters together. It’s important to know where the bread comes from and how bills stack up.

When you start living together things like budgeting and expenses and bills, come into play, and your partner’s spending habits stop seeming cute and surface up to something significant.

It’s best to have experience in handling finances together and sorting out spending habits before you say ‘I do.’

It may not be for you

There, I said it! As improbable and outlandish it may sound, one should not eliminate the possibility that they may realize at some point that marriage may not be their thing.

This is entirely normal and shouldn’t be ignored. So, the best way to test the waters for yourself and your partner would be to live together for a considerable period before marriage.

This also gives you an opportunity to deal with their pesky habits that you disagree with and see how they affect your relationship.

Marriage is the biggest (and probably the best) decision one makes in their lifetime. And the more effort behind the decision the better.

And also, what’s better than having a head start on the rollercoaster lives you would be living together for the rest of your lives? Hey, we’re just kidding, it’s not that scary.

LSI Keywords

Benefits of live-in relationships

Living together before marriage

Cohabitation before marriage

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Live-in before marriage – Why this lifestyle deserves a chance

“Living together before marriage- can you imagine a bigger sin?”

Ah, yes! Yes, I can. But that’s a rant for another time.

Living-in is a big decision. And you shouldn’t consider it just because your parents believe their child in a live-in would cause the sun to explode, oceans to boil, and the end of the world as we know it.

The overbearing population aside, live-in is a part of relationships. It’s got its advantages and drawbacks. But, “what will people say” is not a viable enough reason to throw the idea in the dustbin.

Before you consider if live-in is the right next step for you and your partner, let me tell you why I think it’s worth the chance.

  1. Know your partner inside-out

Every party puts their best foot forward when you have limited access to them. It’s human nature. But when you live together, you get to see things you wouldn’t have otherwise.

She hates pepperoni on her pizza. You often wake up to her coding at night. She’s just unable to share chocolates.

He always gets up after midnight for a snack. He wakes up with you snaked around him almost every morning. He can’t stand how you invite over every dog you meet.

Live-in relationships open doors to really knowing your partner. Their likes and dislikes, pet peeves – you get to glimpse who they are on a regular, boring, uneventful Friday night just as much as when you go out on a five-star date with them.

  1. You have a roommate, with benefits

If you’re already spending a lot of your time with your partner, moving in is the cost-effective method for both of you. You’ll share:

  • Rent
  • Groceries
  • Dinner bills, and
  • Money

You earn, you spend. You share expenses for the facilities you both use. You save more as well. And you’ll always have someone to come home to.

Does that sound so bad?

  1. A sudden avalanche of responsibilities? Not so much

Marriage is very much synonymous with responsibility, especially in India.

If you directly jump into a marriage. You don’t merely marry a guy or a girl – you marry into a family. You’ve got expectations, duties, parents, in-laws and a changed life.

And to top it, you have a spouse that you still need to befriend, never mind spending a lifetime with.

In a live-in, you have a partner whom you know well. The basic understanding is – we take one change at a time and adjust accordingly.

There is no flood of life-changes that you must handle. Responsibilities are mutually discussed and accepted or discarded.

  1. Compatibility check? Yes, please!

It’s the best part of a live-in. You are free to walk out if you can see that things aren’t working well. The break-up could be ugly, or smooth, depending on how you handle it.

 It’s a no-fuss, minimal-mess method to check whether or not two people are compatible.

Try getting out of marriage. The paperwork alone would tire your soul.

Try live-in- the drawbacks aren’t sensible enough to not try it anyway.

I often wonder, you may have too, why two consenting adults living together ruffles the feathers of a majority of our delightful Indian population.

The replies – “But, there is no social responsibility!”, “What if he takes advantage of you and runs away?”, “She is using you for money, can’t you see?”, “What face would we have left in the society?”, “Because he’s an engineer and you’re a nurse- where’s the match?”.

And the time-tested classic, “What would the neighbors think?”.

Like I said, not sensible enough!

Opt for a live-in if you want to. The social stigma can be paralyzing. Don’t let it hold you back.

If your partner is the one you like, trust, and see some of your future with, go ahead!

Keyword: live in before marriage

 

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Talent Resourcing is not Head-Hunting: A View of Recruitment 3.0

How does a company recruit the best talent for a job? Matthew Jeffery, Head of Talent Acquisition at Autodesk in an article from 2011, says, traditionally there been two stages to spotting real talent.

The Process of Recruitment

Recruitment process 1 was during the pre-digital days when a company advertised in mainstream media, waited for candidates to apply, short-listed them, put them through an interview and picked their ideal candidate. Recruitment process 2 was equally bureaucratic, but the difference was that candidates started applying digitally with job-sites through online resumes.

Redundancy

Jeffery says that Recruitment of talent in the first two formats is now redundant. He says a new way of talent resourcing has caught up to the advantage of the ones creating opportunity and those who use the chance to enhance their skills. Matthew Jeffery calls this new phase of talent scouting Recruitment 3.0, through the effective use of social media.

The Difference?

The primary difference is to segregate job-seekers as against talent pooling. Job-seekers may be qualified, technically-equipped and to a greater or lesser degree experienced in a given category. These candidates would only be 10{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of those applying for a role in any given sector. 90{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of the candidates are either unreached or unaware of the openings.

Potential Talent

Jeffery terms the 90{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} potentially talented but non-active as a segment. The talent potential could have skill-sets far more varied and superior to the usual job-seekers who have got used to the grind.

The way to woo a potential talent would be by defining a candidate as a volunteer to an electoral process. Choice thereby clearly emphasised as a social process where everyone is, hypothetically, talented.

Too Good to be True?

Although this might sound too good to be true, there are at least two sound reasons why Recruitment 3.0 could be the way forward.

The digitisation phase of the first generation has come to an end. Data mobilisation of the old industrial set-up has transformed manufacturing as a sector and as an economic entity.

Shift in Priorities

The old macro-system held through by hierarchy is soon to be dismantled. Digital processing of data has given way to the manufacturing of digitally integrated systems such as Internet of Things (IoT). Traditional capital has given way to impact investment scenarios shifting the way businesses operate at the human scale.

Skilled Choice

The versatile move has scaled up the definition of the job as a skilled choice rather than a mere livelihood. Livelihood itself is increasingly being viewed as a culmination of latent potential rather than as the blue-collar sector of the old industrial system.

This horizontal expansion of business convergence on a global scale makes Recruitment 3.0 as a proposition of high social capital.

Changing Realities

The shift in education as skill enhancement is another important reason why 3.0 holds more than casual water. Honing of specific skills is both a universal value-addition as well as a culture-specific symbol of talent accumulation. This potential was hitherto watered down by academic degrees that prepared nobody to the changing realities of the market.

Slow Change

But as Matthew Jeffrey himself says, employers as a group have barely awoken to infuse an “emotionally-engaged idea of transparent talent resourcing”. There are very few indicators for a breakthrough in creating an employment brand as against the building of corporate brand value.  

Primary Keyword:

Talent Resourcing

Recruitment Process

Talent Pooling

Potentially Talented

Candidate as Volunteer

Specific Skills

Employment Brand

 

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