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

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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.

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3 Gig Economy Stocks Wall Street Expects Will Rally by More Than 45% By StockNews

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3 Gig Economy Stocks Wall Street Expects Will Rally by More Than 45%

While the recent ruling of Proposition 22 could threaten the gig economy’s prospects in the near term, the gig economy is expected to grow exponentially in the long run with the increasing demand for more flexible working arrangements. So, it could be smart to add gig economy stocks such Uber (UBER), Lyft (NASDAQ:), and Upwork (NASDAQ:) to your watchlist now.Even though the gig economy received a boost during the pandemic, the recent ruling by California Superior Court Judge Frank Roesch that Proposition 22 is unconstitutional could serve a blow to companies capitalizing on the gig economy. Nevertheless, workers’ increasing demand for flexible and contractual work is expected to drive the gig economy’s growth.

According to brodmin’s research and data provided by Mastercard Incorporated (NYSE:), the global gig economy is expected to be worth almost $350 billion in 2021. Moreover, investors’ interest in the gig economy stocks is evident from the SoFi Gig Economy ETF’s (GIGE) 6.4% return over the past month.

So, it could be wise to add gig economy stocks such as Uber Technologies, Inc. (NYSE:), Lyft, Inc. (LYFT), and Upwork Inc. (UPWK) to your watchlist. Wall Street analysts expect them to rally by more than 45% in the near term.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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Gig Economy Market Outlook 2021: Big Things are Happening

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Gig Economy Market

Gig Economy Market

2020-2025 Global Gig Economy Market Report – Production and Consumption Professional Analysis (Impact of COVID-19) is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Gig Economy Market. Some of the key players profiled in the study are PeoplePerHour, Zipcar, Didi Global, Etsy, Upwork, Home Away, BlaBlaCar, Snap, VaShare, Toptal, Silvernest, Airbnb, Envato Studio, Omni, Uber, Fon, Freelancer.com, Stashbee, Fiverr, Couchsurfing, BHU Technology, Spotahome, Eatwith, Lime, Hubble, Airtasker, Lyft, Care.como, Prosper, E-stronger, JustPark & Steam.

Get free access to sample report @ https://www.htfmarketreport.com/sample-report/3417573-2020-2025-global-gig-economy-market-report-production-and-consumption-professional-analysis

Gig Economy Market Overview:

The study provides comprehensive outlook vital to keep market knowledge up to date segmented by Traffic, Electronic, Accommodation, Food and Beverage, Tourism, Education & Others, , Asset-Sharing Services, Transportation-Based Services, Professional Services, Household & Miscellaneous Services (HGHM) & Others and 18+ countries across the globe along with insights on emerging & major players. If you want to analyse different companies involved in the Gig Economy industry according to your targeted objective or geography we offer customization according to requirements.

Gig Economy Market: Demand Analysis & Opportunity Outlook 2026

Gig Economy research study defines market size of various segments & countries by historical years and forecast the values for next 6 years. The report is assembled to comprise qualitative and quantitative elements of Gig Economy industry including: market share, market size (value and volume 2015-2020, and forecast to 2026) that admires each country concerned in the competitive marketplace. Further, the study also caters and provides in-depth statistics about the crucial elements of Gig Economy which includes drivers & restraining factors that helps estimate future growth outlook of the market.

The segments and sub-section of Gig Economy market is shown below:

The Study is segmented by following Product/Service Type: , Asset-Sharing Services, Transportation-Based Services, Professional Services, Household & Miscellaneous Services (HGHM) & Others

Major applications/end-users industry are as follows: Traffic, Electronic, Accommodation, Food and Beverage, Tourism, Education & Others

Some of the key players involved in the Market are: PeoplePerHour, Zipcar, Didi Global, Etsy, Upwork, Home Away, BlaBlaCar, Snap, VaShare, Toptal, Silvernest, Airbnb, Envato Studio, Omni, Uber, Fon, Freelancer.com, Stashbee, Fiverr, Couchsurfing, BHU Technology, Spotahome, Eatwith, Lime, Hubble, Airtasker, Lyft, Care.como, Prosper, E-stronger, JustPark & Steam

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/3417573-2020-2025-global-gig-economy-market-report-production-and-consumption-professional-analysis

Important years considered in the Gig Economy study:
Historical year – 2015-2020; Base year – 2020; Forecast period** – 2021 to 2026 [** unless otherwise stated]

If opting for the Global version of Gig Economy Market; then below country analysis would be included:
• North America (USA, Canada and Mexico)
• Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)
• Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)
• South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)

Buy Gig Economy research report @ https://www.htfmarketreport.com/buy-now?format=1&report=3417573

Key Questions Answered with this Study
1) What makes Gig Economy Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Gig Economy market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Gig Economy in next few years?
8) What is the impact analysis of various factors in the Global Gig Economy market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Gig Economy Market?

Browse Executive Summary and Complete Table of Content @ https://www.htfmarketreport.com/reports/3417573-2020-2025-global-gig-economy-market-report-production-and-consumption-professional-analysis

There are 15 Chapters to display the Global Gig Economy Market
Chapter 1, Overview to describe Definition, Specifications and Classification of Global Gig Economy market, Applications [Traffic, Electronic, Accommodation, Food and Beverage, Tourism, Education & Others], Market Segment by Types , Asset-Sharing Services, Transportation-Based Services, Professional Services, Household & Miscellaneous Services (HGHM) & Others;
Chapter 2, objective of the study.
Chapter 3, Research methodology, measures, assumptions and analytical tools
Chapter 4 and 5, Global Gig Economy Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels, Value Chain Analysis
Chapter 6 and 7, to show the Gig Economy Market Analysis, segmentation analysis, characteristics;
Chapter 8 and 9, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 10 and 11, to show analysis by regional segmentation [North America (Covered in Chapter 8), United States, Canada, Mexico, Europe (Covered in Chapter 9), Germany, UK, France, Italy, Spain, Others, Asia-Pacific (Covered in Chapter 10), China, Japan, India, South Korea, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 11), Saudi Arabia, UAE, South Africa, Others, South America (Covered in Chapter 12), Brazil & Others], comparison, leading countries and opportunities; Customer Behaviour
Chapter 12, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 13 and 14, about competition landscape (classification and Market Ranking)
Chapter 15, deals with Global Gig Economy Market sales channel, research findings and conclusion, appendix and data source.

Thanks for showing interest in Gig Economy Industry Research Publication; you can also get individual chapter wise section or region wise report version like North America, LATAM, United States, GCC, Southeast Asia, Europe, APAC, United Kingdom, India or China etc

Contact US:
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

Connect with us at LinkedIn | Facebook | Twitter

About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.

This release was published on openPR.

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Gig Economy: EU Parliament calls for equal rights for digital day laborers

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People who work for digital platforms such as food delivery services should have the same rights as traditional workers. The EU Parliament spoke out in favor of this in a resolution that was adopted on Thursday by a large majority of 524 to 39 votes. 124 MPs abstained. It is about social security contributions, greater responsibility of operators for health and safety and the right to negotiate fair working conditions in collective bargaining.

Parliament complains that anyone who works for intermediary services in the gig economy such as Deliveroo, Lieferando, LiveOps, Lyft or Uber is often wrongly classified as self-employed. As a result, access to social protection and other labor rights is lost. The MPs are therefore calling for the burden of proof to be reversed: In the event of legal proceedings, the employees should no longer have to prove that there is no employment relationship, but the employers. Anyone who really works independently should be allowed to remain in this position.

The parliamentarians make themselves with the resolution also strong for platform workers to have the right to “transparent, non-discriminatory and ethical algorithms”. According to them, algorithmic functions such as task assignment, ratings, pricing and deactivation procedures should always be explained in an understandable manner and clearly communicated. They want employees to be able to challenge the decisions made by algorithmic systems. Automated processes should always be supervised by humans.

Since deliverers and packers, for example, are often exposed to increased health and safety risks such as traffic accidents or injuries from machines, they should be equipped with appropriate personal protective equipment. The representatives are also pushing for accident insurance for drivers. Platform work creates new jobs and offers consumers more choice, they generally acknowledge. But the working conditions are often bad. The EU legislators had already backed digital day laborers with a directive by giving them, among other things, the “right to better plan their work” and shortening the probationary period.


(bme)

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