Connect with us

Economy

How to grow your company in times of gig economy and digital nomadism – TechTalks

Published

on

By Lukasz Karwacki

gig economy remote worker
Image credit: Depositphotos

Companies face many challenges in their mission to grow. One of them relates to recruitment, or more precisely, to the cultural changes that impact the needs and preferences of talents.

Let’s make one thing clear:

To grow your company, you need top talent. And you need those people to stay with the company for more than just a few months.

Otherwise, there simply won’t be enough time for them to get in sync with the company goals and culture, move along the learning curve, and start being truly productive.

The trouble is, sourcing skilled employees is harder than ever. And even if you manage to find and hire talents, keeping them on board is really difficult.

Problem: Getting talent on board

Most companies (including mine) deal with one or more of these problems:

1. Recruitment difficulties:

  • A general shortage of talent – the demand for skilled workers is growing, but the number of these workers isn’t growing equally fast. That forces companies to explore outsourcing opportunities (which can be incredibly beneficial, but present another set of challenges).
  • Employees are more demanding than ever – enterprises and well-funded startups compete for the most talented workers. In this environment, highly-skilled workers can be picky, and that makes sourcing them even more difficult.
  • Lack of skill on the market – if you run a tech company, you probably realize that technology is evolving so quickly that no school or university can effectively prepare juniors for the reality of the job market in the tech industry which experiences an increasing pace of innovation.

2. The Gig-economy mindset:

Some employees prioritize independence and flexibility over loyalty and long-term commitment. Some even believe that one should be changing the workplace every few months to get diversified experience. As you can imagine, it’s more difficult to inspire these workers to commit, contribute to common objectives, and add value to the company sustainably over a period of time. But trust me, you can accomplish that with the right approach (more on that below).

3. Digital nomadism

Digital transformation and workforce globalization made remote work a new standard and a popular preference among workers:

  • 76% of workers prefer to do important tasks in places other than the office,
  • 82% of them claim they would be more loyal to their current employer if they offered flexible working arrangements,
  • the trend is particularly strong among Gen Y/Z workers – 69% of millennials will trade other work benefits for flexible workspace options.

Remote work presents companies with another share of challenges: efficient communication and collaboration, building bonds between team members, and building a company culture that lasts.

Here’s what all founders need to acknowledge

You won’t change the market

These new workforce trends will only become stronger with time. So you better spend time thinking about how to adjust to and leverage these trends. Business success comes to those who have an open mind and are willing to adapt their operations to new circumstances.

Human nature doesn’t change from generation to generation

We’re still the same creatures with the same behaviors, needs, and desires. What changes is the world around us. It’s important to remember that temporary hype and speculative bubbles can easily lead us astray; they distort our perceptions of the world, especially when we talk about the needs of Gen Y/Z workers. They essentially have the same needs as other generations, just want to fulfill them in new ways.

The world is increasingly polarized

Even though the barriers of entry in certain sectors seem to be decreasing (one only needs a laptop to work in IT!), the growing sophistication and complexity of the challenges we face as organizations require more effort and higher operational efficiency.

It’s much easier to start a company than it used to be in the past. But it’s much more challenging to grow a business and maintain a substantial competitive advantage.

So we better get used to these challenges and think of new strategies to counter them. Here’s how.

How to grow your company despite these challenges

teamwork

Here are three strategies that helped me to grow my company. During the last two years, Sunscrapers grew from 15 to 32 people.

1. Improve your recruitment tactics:

  • Articulate and showcase your company’s mission, vision, and values. It’s not only money that counts here. Especially for Gen Y/Z workers, the purpose and values they can identify themselves with are particularly important. For example, one of our values is “never stopping learning and self-improving” and we translate that into reality by offering our workers “growth budgets” they can spend on books, courses, or conference participation.
  • Find your employer differentiator; something that makes you different from other employers in your field. It’s like a Unique Selling Proposition, only formulated for your employer brand, not your product or service. It can be company culture, your approach to doing businesses, your unique processes or activities.
  • Adjust your processes, so they become more employee-oriented. Be responsive and deliver on your promises. If you say that you’ll get in touch with candidates within three business days, do that. Show how their future role is embedded within the company mission.
  • Provide value at every recruitment stage. For example, develop a method for speedy application processing. Acknowledge that you’ve received an application and thank the candidate for reaching out. Provide meaningful feedback.
  • Learn how to differentiate between talkers and doers when recruiting for critical roles in your team (which basically means every role). The culture of social media inspires people to look good, causing them to sometimes exaggerate when talking about their skills.

2. Improve your operational efficiency

  • Invest in your onboarding process to help new employees get up to speed quickly and start adding value to your company. Here’s how:
    • Prepare the right materials and the training process,
    • Set very clear goals (most companies find that problematic, we’re just starting to get it now),
    • Prepare a detailed plan and tasks for the first weeks of work,
    • Provide supervisor support.
  • Prepare processes and tools for remote collaboration. “The best are everywhere,” and there’s no reason your company shouldn’t take advantage of talent just because it’s located elsewhere.
  • Manage by values. That doesn’t mean abdicating from management, especially when it comes to supervising junior employees. But here’s another approach to managing a company:

Management by values ​​is based on developing a working process that meets the company’s business needs, as well as the employee needs.

In practice, it means focusing on building self-organizing teams where team members are empowered to make mission-critical decisions. Such teams usually deliver an excellent quality of work, identify with the company’s objectives and express loyalty to the company.

Another management by values technique is articulating company values and referring to them in the daily work (feedback, rewards – we use Bonusly for that), as well as company events and evaluations.

3. Decentralize the structure and decision making

  • Gather and organize all the relevant knowledge within the organization. This is especially important in the onboarding process where the immediate availability of insight is essential for process productivity.
  • Invest more in establishing processes but avoid complexity. Break roles and processes into standalone, manageable, and often-updated chunks and assign the owners to each process, role, or responsibility. Such owners need to be 100 percent aligned with the company’s culture and vision.
  • Always be grow replacements for critical people in the organization, so that events such as emergency incidents, health problems, holidays or simply parting ways doesn’t hurt your operations.
  • Create local leaders and tribes. Instead of a fixed hierarchy, group people around specific competencies or responsibilities. That approach worked well at my company – for example, we group developers not only by technology (like frontend or backend), but also by their role in a team (team lead, architect, DevOps, etc.) or their involvement in in-house processes recruitment, marketing, or sales).

Company growth happens over a long-term basis.

To follow Ray Dalio, it will still take for a team member at least 1.5 year to become aligned and fully productive! Out of the people who decide to leave the company, most will do that during their first year of employment. Fewer of them do that in their second year and even fewer in their third year. So do what you can to keep talents on board for the first three years, and you’ll position your company for success.

Over to you

Have you used other strategies to address these challenges and grow your company with top talent?

Please share them in the comments section; I want to start a conversation about what founders can do to leverage the latest workforce trends to their advantage.

Lukasz KarwackiLukasz is a co-founder and CEO of Sunscrapers. He’s got his background in computer graphics (graduate of Kingston University London) and has started his career as a web designer in a creative agency. He currently manages Sunscrapers, leads the business development team and does client consulting. Throughout the last 10 years, Lukasz managed, supervised and consulted over 100 projects for startups, SMBs and enterprises across different industries and locations.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Gig economy to boost employment of Indian women in formal sector post COVID: Study – The New Indian Express

Published

on

By

Continue Reading

Economy

Labour pledge to give gig economy workers right to sick pay

Published

on

By

Labour has pledged to give gig economy workers the right to sick pay in its new employment rights charter.

The party said its “new deal for working people”, launched on Monday, would mean an additional 6.1 million workers were eligible for statutory sick pay, many of whom are workers in the gig economy and are currently classed as self-employed, as well as the “genuinely” self-employed.

Andy McDonald MP, Labour’s shadow employment rights and protections secretary, said: “Millions of workers are in insecure employment with low pay and few rights and protections, particularly key workers whose efforts got the country through the pandemic.

“A lack of basic rights and protections forces working people into poverty and insecurity. This is terrible for working people, damaging for the economy, and as we have seen throughout the pandemic, devastating for public health.

“We need a new deal for working people. Labour would ensure that all work balances the flexibility workers want with the security they deserve.”

Under Labour’s plans, three separate legal statuses of employment, each of which have different rights under the law, would be rolled into one status of “worker” and given the same rights.

The party cited ONS figures, which suggest 4.2 million self-employed workers, including gig economy workers, do not currently qualify for Statutory Sick Pay, alongside 1.9 million people who are currently employed but cannot claim it.

Deliveroo strike
In July, the Court of Appeal ruled that Deliveroo riders are not workers and therefore not entitled to collective bargaining rights (Stefan Rousseau/AP)

Under Labour’s plans these 6.1 million people would be offered rights including sick pay, National Minimum Wage entitlement, holiday pay, paid parental leave, and protection against unfair dismissal.

Labour would also aim to remove “qualifying” probationary periods for workers starting new jobs so these rights would be available from the first day of a job.

The Opposition party’s plans follow a series of court cases on the gig economy, involving disputes about whether the claimant was a worker entitled to the minimum wage and holiday pay, or self-employed and not entitled to these rights.

In July, the Court of Appeal ruled that Deliveroo riders are not workers and therefore not entitled to collective bargaining rights.

Labour deputy leader Angela Rayner launched the party’s workers rights charter on Monday morning at a co-working hub in central London, describing it as “the minimum” workers could expect after working through the pandemic.



Source link

Continue Reading

Economy

Gig economy to boost employment of Indian women in formal sector: Study

Published

on

By


Alternative work arrangements in the have the potential to absorb more women and increase their participation in the workforce with some amount of reskilling, according to a latest study.


is a labour market characterised by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.





A study on “The Impact of COVID 19 and Industry 4.0 on Future of Work for Women, An Insight from Formal Sector in India” underscores that alternative work arrangements in the have the potential to absorb more women and increase their participation in the workforce.


“A boost in use of digital technology and increased acceptance of virtual working for sales and distribution jobs, could open opportunities for women to enter fields where interactions are managed through apps and phone calls,” the study states.


“The study indeed gives a hope for a better future with more opportunities for women. However, concerted efforts are needed to understand how new technologies are impacting specific industries and to address challenges facing women in entering or remaining in the workplace,” stated Nadia Rasheed, UNDP Deputy Resident Representative in India, at the formal launch event of the study.


The survey also reflects that some key sectors that are likely to see an increase in women’s are health and pharmaceuticals (by 59 per cent), electrical and electronics (by 44 per cent) and fast-moving consumer goods (perishable goods) industry (by 41 per cent).


At the same time, women’s in the finance and accounting divisions may moderately change due to the adoption of new technology.


Around 73 per cent of the respondent firms agree that reskilling, specifically in the formal sector — is likely to play a crucial part in shaping the work of tomorrow. About 83 per cent of those who agreed to the skilling proposition also indicate that reskilling will be crucial to absorb more women in the world of work in India, the study states.


To safeguard the interest of both employers and employees, some labour laws and regulations are required in the changing world of work, it states.


Also, documenting best practices across globe on how different industries are using new technologies and at the same time creating job opportunities for women would help create supportive policies.


The survey findings state that work from home (WFH) or remote working will be the ‘new normal’ with advanced technologies such as digital information, artificial intelligence, robotisation and machine learning.


The study associates low level of technological skills with increasing levels of adverse impact, with the caveat that the time or pace of old jobs to be fully replaced by automation is uncertain, which may create unemployment for some time in India.


Interestingly, the study also revealed that in high-skill and low-skill jobs, the impact of technology is gender neutral. It is the medium-skill jobs that have gender differentials because they require a blend of cognitive work and manual routine work, and gender can play a role here.


In high-skill jobs, finding the right skill to do the job is the most important criteria, and the candidate whether it is a man or woman hardly matters, it states.


In low-skill jobs in India, there is wage parity, and thus employers may have equal ratio of employees which reflect no gender bias, the study states.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



Source link

Continue Reading

Trending

Copyright © 2019 Gigger.news.