A recent survey conducted jointly by FICCI and Indian Angel Network revealed that 70 percent of startups across the country have been impacted by COVID-19 while as many as 12 per cent have had to halt operations altogether. These are difficult times that no one was prepared to deal with. The prolonged lockdown had a massive impact on the startup ecosystem. Given that they rely largely on a constant flow of capital and investments, which due to the pandemic came to a complete standstill. With the ongoing crisis, to keep startups afloat has become quite a challenge. However, this challenge can be eliminated if entrepreneurs adapt to the current times, adopt new strategies, and are open to experiments and pivot their business plans. Keeping in mind this article, state any two things which should be written by startup companies in their manpower planning component of business plan.

Question

Accepted Answer

Two things: 1. What kind of people are required - Given the crisis, startups should focus on hiring adaptable personnel capable of multi-tasking and handling uncertainty. 2. How many people are required - With capital at a standstill, carefully assess the number of people actually required, maintaining a lean workforce considering reduced operations.