Many business organisations or people are skeptical about HR consultants and the reason for that ranges from a few unpleasant work experiences with a self proclaimed consultant to not knowing how to collaborate with an experienced one.
Being wary of the HR consulting firms or individuals comes from the fact that people don’t really know who we are or what can we bring to the organisation.
The elementary thing that needs to be kept in mind is that consultants can add value to your firm and can amplify your business only when you know the right time to refer to them.
Myths about HR Consultants that needs to be debunked.
We have contrasting views and opinions on HR consultants and HR consulting firms that are not always true. So, here we are bringing an end to all of the fallacies about the core of the business industry.
1. An HR Consultant won’t give your organisation the consideration an in-house management team would:
The moment you outsource your HR function to Non profit HR, you can be credulous that your assigned HR Business Partner(s) will give your employees as much time and care as an in-house HR manager would. At Non profit HR, we precisely assign HR business partners to clients based on their calculated and strategic specialities and the unique culture of each client organisation. Business partner portfolios are built up to ensure balanced workloads, client receptiveness and flexibility.
2. It’s a non-technical function and does not have a seat in the boardroom:
This a very common misconception that people usually have. In fact, while starting your career in this field, a lot of people may come to you discouraging your choice. This is because they believe that HR is not really a sustainable job or is not as important as sales marketing operations, etc.
Now my answer to this is that HR is a function that uses people and anybody who says that it’s a non-technical function brings a smile on my face (Hint- Huge sarcasm) because dealing with people itself is a task of complexities.Person A behaves in a certain way- person B behaves in a certain way- person C behaves in a very different way, that is to say that we’re actually dealing with a set of people in the organisation around certain processes that needs to be put in a place and those processes can be technical or non-technical.
So, it has a mix of both technical and non-technical function.
Now, coming to the point of having a seat in the boardroom. Most of the firm’s that value their employees or are great places to work are the ones who invest in their people and that investment in people is the core of the big companies that exist today. This happens because they have strong people practices& who gets those people practices? Obviously, the senior leadership and the HR leadership combined together makes that happen. Hence, HR does have a very important and critical role to play in the boardroom.
3. To work with a HR consultant, you need to have a big company:
Business consultants are associated with big companies or start-ups but small ones do need them too.
Collaborating with a business consultant at a start-up level of your business is considered witty. It requires some entrepreneurial years to get into the market and realise what works and what doesn’t. Gearing up your journey with a realistic business plan, strategic activities and achievable goals with a properly conducted market and competitor analysis is a good investment that you’ll not regret.
One advise: First, start on your own and then move on to the experts whenever you need them. It’ll save you a lot of time, effort and resources in the future.
4. HR Consultants or HR consulting firms don’t stay once the contract is over:
The biggest concern that constantly loops around the client’s head is that they might be left with a package of papers, strategic plan and at a loss.
They are often worried that consultants might stop caring for them once the contract time is over and they are done with delivering all the materials, suggestions and presentations.
Reliable HR consulting firms always extend their support and welcome their clients to contact them and ask quick questions. Long-term engagement between the client and the consultant is what is known as professionalism.
The widely spread misconceptions are all debunked! Now it’s up to you to decide whether your business needs the help of an HR Consultant or you’re steady enough to start on your own.
Know the DevOps Career opportunity and Job Roles.
DevOps will be a challenging, high-impact, and critical role for every organization in the future and India will be at the forefront of it.
If you were to ask any experienced crypto trader the one common factor that makes crypto trade both possible and profitable, they would be quick to explain that the market difference provides the gap for profit generation. For traders who wish to engage in cryptocurrency exchange without having to perform challenging tasks in exchange for crypto coins, the easiest and fastest way to make profit from this trade would be to exploit the market inefficiencies that exist today.
As it stands today, no crypto trade exchange offers the sale or purchase of cryptocurrencies at the same price as another exchange. And even on those rare occasions where they may be almost equal, these values change before a trade transaction is completed. The high volatility levels witnessed in the cryptocurrency trade realm has solely paved the way for cryptocurrency arbitrage exchange to be made possible across every zone where crypto trade is practiced.
Many individuals understand the market inefficiencies within regular stock trades, as well as their causes. For one thing, fiat currencies across countries differ, and this is highly influenced by the country’s financial situation. While these currencies may rise or drop occasionally, it is a rare occurrence, and one that does not affect the prices by highly significant prices. One wound think, therefore, that because cryptocurrency involves similar currencies across all borders, the market value would be more constant, but this is not so.
Factors Affecting Cryptocurrency Price Change
Various factors are responsible for the high rate of fluctuation associated with cryptocurrencies. These factors vary substantially across different exchanges, but have a common ground across the entire cryptocurrency entity.
No Identifiable Intrinsic Value
The value of all fiat currencies in existence today is determined by a measure of how much a unit of that currency can acquire or be weighed against. Government controlled currencies in that they are usually exchanged for tangible entities such as commodities or services. How these currencies are utilized can also be quantified through various means such as expenditure and investment books.
With cryptocurrency, there is no intrinsic value that has been placed into any crypto coin that exists. The market values within cryptocurrency exchanges are not determined by factors such as commodity value, revenue generation, or employment. Cryptocurrencies are strictly computerized, which makes it difficult to value them through traditional means. As a result, how individuals value cryptocurrency is not constant, thereby increasing the chances of volatility by a considerable margin.
No Central Regulation
As a market, cryptocurrency and cryptocurrency trade is an entirely decentralized activity. Starting from the Blockchain technology that runs cryptocurrency, there is no central form of control that has been attached to the market. Efforts by various governments to set regulations on these currencies have not only been deterred by the individuals within the market, but have also been difficult to implement due to the low traceability associated with the currencies.
Because cryptocurrencies lack a formal regulatory body, two factors emerge which encourage arbitrage in cryptocurrency exchanges. One factor is market manipulation. With the lack of regulation in cryptocurrencies, the creators of these currencies, as well as those who operate the exchanges for their trade, have the freedom to define their prices at whatever value they please, and this creates market inefficiencies.
Lack of regulation also discourages major financial institutions from investing in these currencies. These institutions depend extensively on regulation to ensure that the funds they invest into any venture has high probability of success and profitability. Without their involvement, it becomes difficult to gauge returns such as dividends and revenues in terms of cryptocurrency, which increases the overall volatility of the market.
Small Market Size
Compared to other traditional forms of currency, cryptocurrency has a very small market size due to its newness. A small market for cryptocurrency in turn results in big impacts from any small currency movements that are made within the market. The impact, especially on cryptocurrency exchanges, is noticeable from the shifting prices of altcoins as trade is conducted.
Aside from the limited market size, cryptocurrency markets are also skewed in their distribution. Most of the market wealth is owned by very few individuals – otherwise known as cryptocurrency whales – which gives them high control over various market factors, such as the price. The freedom to dictate prices of these currencies results in disproportionate power distribution, and therefore a highly volatile market price.
Small Order Book Size
There are many security risks that have rocked cryptocurrency exchange in the past few years that it has existed. The traders involved in crypto exchange are aware of these risks, and do not store their cryptocurrencies within the exchanges that they trade on. As a result, the wallets used in exchanges contain very little cryptocurrency supply, which in turn translates to small order books.
The occurrence of slippage is also very common within cryptocurrency markets. Slippage in cryptocurrency occurs when the expected price of exchange differs to a great extent from the prices which the trade is carried out. These situations are common in crypto trade, and are one of the greatest factors that facilitate cryptocurrency arbitrage exchange. When slippages occur, they result in small order books, which can adversely affect the prices of cryptocurrencies and increase market volatility.
Going with The Crowd
Due to the high risks associated with cryptocurrencies, most traders feel that there is safety in numbers. Furthermore, the analysis of cryptocurrency trade has revealed that the majority of participants are those who are young and inexperienced, and have been locked out of traditional forms of investment due to existing monopolies. Most of these individuals have no concrete skills on investment and financial planning.
Thanks to their inexperience and lack of capital, the millennial population associated with cryptocurrency tend to purchase digital assets on credit. Essentially, these are funds that they do not have, and will therefore feel a greater urge to protect it at all costs. Market plunges within cryptocurrency, then, reflects to a sizeable shift in market trends and interests. While these shifts are usually individual works, when they are quantified as a whole, they reflect on an inherent herd mentality that is associated with crypto traders.
As the crowd shifts from one currency to the other, there are significant discrepancies generated across currency values, which results in increased volatility and price fluctuations.
Crypto Exchange Price Manipulation
The success rate of the cryptocurrency exchanges that exist today is determined primarily by the amount of traffic that they are receiving, especially the financial traffic. The ranking of these exchanges in almost every survey boils down to the cash flow of the exchange within a give amount of time, usually 24 hours.
By default, the owners of exchanges with the highest amount of cash flow become the power houses for cryptocurrency, and thereby have the greatest incentive over the prices of the coins. If these owners decided to change the prices of the coins, there would be no objection due to lack of judicial or government oversight. If we multiply the effect of one price manipulation over hundreds of exchanges, then the volatility of the market increases immensely.
Proof of Work
The proof of work in cryptocurrency arbitrage trade refers to the mechanisms with which users who have no capital to invest can utilize in order to obtain cryptocurrency. Proof of work is mostly referred to as mining mechanisms, and can range from gameplay to other forms of tech-related operations.
The proof of work of a crypto coin can affect how it is valued in the market. If a coin requires very complex mechanisms in order to obtain it, naturally, it becomes rarer and unique in the eyes of traders. Thanks to that uniqueness attached to it, the coin’s value demand becomes higher, and in turn, the value of the coin increases noticeably.
Long Term Orientation
What most individuals may not know about cryptocurrency as an investment is that it is developed to be a long term investment plan. The nature of cryptocurrency trade does not allow short term investors such as retailers and other financial brokers to effectively make profits, a factor which is a high contributor to the market fluctuation levels.
The experienced traders involved in crypto trade are well aware that it is an investment for the future. As such, they are not afraid to gamble or cope with the market fluctuations that occur within the industry. Their willingness to shift from currency to currency across exchanges also contributes to how volatile the markets can be.
The Determinants of Cryptocurrency Prices
Evidently, many technical and business factors contribute to the high volatility of the cryptocurrencies in existence. Besides these factors, there are other non-technical issues which surround cryptocurrencies, and can affect the pricing of these currencies just as adversely as the technical factors. They include the following.
Public Sentiment
Because there are no formal mechanisms for determining the value of cryptocurrencies as digital assets, their values can be greatly undermined or overestimated depending on the public’s perception of the currency in question.
Consequently, the perception of the public is affected by various means. The press has had a lengthy influence over how traders perceive crypto coins, for instance. When the news of a particular altcoin is depicted as declining in the markets, the reaction of traders is usually to move away from that coin and invest in others. In the same way, coins that are depicted to be of great value have higher demand within the markets, thereby increasing their value.
Supply and Demand
Another area which can be tweaked by cryptocurrency owners to ensure that their coins perform better in the market is to manipulate the supply and demand areas of that coin. The mechanisms of supply and demand work in this sense: if the demand of a coin is high and the supply of the same coin is low, then the value of the coin increases. Conversely, if there is a high supply of these coins but a low demand of them, then the price of the coin reduces.
Exchange and cryptocurrency owners are aware of this social mechanisms, and may manipulate them at times so that they can roll in their favor, thereby creating a highly unstable market valuation.
Identifying Arbitrage Opportunities and The Use of Arbitrage Bots
The various factors listed above affect market value and, therefore, provide opportunities for arbitrage trading. For individuals to identify and exploit these opportunities, they will either have to be experts with experience, or they will have to implement arbitrage trading bots to run their operations for them.
The users who decide to practice cryptocurrency trade on their own have to look at certain areas of opportunities to maximize their chances of success.
Cryptocurrency Arbitrage Exchanges
Because trade occurs through exchanges, they provide one of the most efficient places to monitor in order to grasp arbitrage opportunities. As discussed, different exchanges offer coins at different prices. Furthermore, the fees associated with these exchanges vary considerably. Traders therefore need to sharply analyze the exchanges that they want to utilize in order to generate efficient trade strategies.
Sometimes, users who are new especially may find it difficult to identify the exchanges that perform well over a long span of time. It is not always advisable to go for the best performing exchanges, as these usually accompany a higher demand and, therefore, stiffer competition than their counterparts. With the use of arbitrage trading bots, users are more efficiently placed to identify exchanges that have not breached the market but have high profit potentials, and thereby place themselves better for efficient trade.
Countries Participating in Cryptocurrency Exchanges
Another effort which could be applied in arbitrage is to identify the countries which have implemented cryptocurrency within their financial strategies. For instance, two key players of cryptocurrency are South Korea and the USA. Price discrepancies across cryptocurrency exchanges exist to a high extent in these countries, thanks to surges in their supply and demand. By learning to maneuver these markets, users can easily exploit the arbitrage opportunities within them to generate profit.
Alternatively, the use of trading bots can be employed to further the analysis of markets in countries. There are various factors to consider when analyzing these markets, such as the stock performance and foreign exchange positioning of a country. If users utilize arbitrage bots to analyze, they will run a more effective analysis strategy for different fiat countries, and identify which currencies offer the best prices for sale and purchase of cryptocurrency.
Order Book Analysis
Order books are the record keepers for exchanges, and the ultimate measure of success for their performance. Traditionally, larger order books translate to higher rankings of an exchange and, therefore, higher interest by the users. However, large order books may not be as efficient for beginners in crypto trade due to high pressure for market penetration.
The use of cryptocurrency trade bots provides users with better tools for monitoring cryptocurrency arbitrage exchanges and determining which order books provide a constant trade evaluation. The algorithms built especially with artificial intelligence, such as the Bittrex bot algorithms, provide a clearer means for determining the most consistent order books and providing traders with the most efficient exchanges to participate in.
Risk Analysis
It would be unwise to enter cryptocurrency trade without being aware of the risks associated with it. As arbitrage is considered the main cryptocurrency profit strategy, most of the risks associated with it are in relation to the arbitrage trade sector.
One risk associated with arbitrage trade is the low liquidity levels of exchanges. Using an arbitrage trading bot, the analysis of these risks can be made easier and more accurate for the user. Users can then use the reports generated to make more informed decisions on the exchanges they choose to carry out their crypto trade within.
Another risk associated with arbitrage are the slippages that occur due to high price reductions. Bots like the Bittrex bot can more easily predict market slippages, as they deal with the technical evaluations rather than intuition. As such, users who utilize them are less likely to become victims of slippages, making their trade more secure.
Conclusion
The factors surrounding cryptocurrency trade can be viewed in two distinctive lights. For one, these factors provide an overview of cryptocurrency as a high-risk investment for any participants, and the instability associated with markets can deter its progression and adaptation into various important sectors of business.
On the other hand, users and institutions which identify tactical ways to maneuver these risks and even use them for profit are better placed for success in crypto trade. Furthermore, arbitrage as a trading strategy seems to thrive from the same risks that discourage newer traders in the market.
Thanks to advancement in analysis software and other technologies, users can now rely on arbitrage trading bots to a great extent within trade exchanges. However, they must also keep an eye on these bots to provide that human-machine collaboration that results in higher chances of success.
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