In economic theory, one of the objectives is to find the point of equilibrium between supply and demand in a model that gives stability to the market. In the wake of the pandemic, companies have accelerated digitization processes, increasing the demand for tech talent, which could hardly be satisfied with the supply of specialists available at the time. The immediate solution was to resort to a model which, although it already existed, was widely used at the time: accessing talent from anywhere in the world through the remote work.
This measure, at the time, is today the solution to a persistent problem of talent shortage. According to the OECD, it is expected that by 2030, 80% of jobs will be replaced by STEM careers and 90% of companies already face great challenges in recruiting critical digital talent. Only Mexico has a 33% deficit in the number of qualified professionals in these careers compared to the demand for labor that exists at the regional level.
Given this scenario, how does the remote work ecosystem address the talent shortage and balance the growing demand for tech positions?
First of all, it is important to understand what are the factors that characterize this way of working:
- Autonomy. Without it, the worker would be stuck all the time, unable to move forward. The work does not depend on the availability of other people, who may even be in a different time zone, finish their working day or sleep.
- Trust. It is essential that the boss trusts the employee and vice versa. Employers must assume that the people they hire are adult, professional, who are going to do a good job, while employees return that trust in the work model and purpose of the company. Confidence in a remote environment must be given, because without it autonomy would not be possible.
- Transparency. The remote ecosystem requires creating clear and consistent communication practices in all directions. It is important for the team to know the processes and projects, know what their priorities are, what they are stuck on, what their next task will be, where help is needed. These transparency practices are based on trust in the employee, which nurtures their autonomy. This closes the circle between the three characteristics of remote work.
Many other aspects are important to consider in remote work devices, for example: improving the way of holding meetings, getting paid in a multicultural environment and learning to work asynchronously. However, the three fundamental pillars mentioned above condition the success of the rest.
New talent needs
Remote work, despite the fact that it was already practiced before the pandemic, saw its greatest boom during the period of isolation. People who have experimented with this modality have discovered a new way of reconciling professional and personal life; their needs and priorities have changed.
The phenomenon known as “the great resignation”, which has been experienced in many advanced economies, has the backdrop of many people rethinking what they seek in life and what they need to achieve it. . In this state of mind, remote work flexibility plays a crucial role.
The same effect of supply and demand means that trained talents now have greater bargaining power and are looking for the best conditions to accept a job. A recent study by PageGroup places flexible working models and a better quality of life among the main motivating factors for this profile of workers.
People find more benefits in flexibility, feel good about staying longer in their jobs, have more freedom, feel more productive, and encourage companies to seek better practices; For example, in the past we talked about number of hours worked and performance was assessed by time and not by results, which clearly changed in this model.
These changes lead talents to demand a new way of interacting with work, which requires the business adaptation. It is precisely on this point that it favors them, because by adapting, a culture of openness to hiring in the world becomes easier.
Currently, a good candidate is no longer excluded because of his place of residence, since it is no longer necessary to move from his hometown. The companies testing the model They start hiring outside of their city, across the country, then outside of their time zone, and finally anywhere in the world. Today, the possibility of finding a candidate with the right profile exists in any country.
The more we open up to the world, more diversity we attract for the company. Not only is it easier to find the right people, but also someone who brings something different, who complements what is already needed. We may attract people of different cultures, educations, accents, religions, or ways of seeing the world.
In a global environment where we may have customers all over the world, having a team that represents diversity gives us a great competitive advantage. This allows us to integrate more ideas which lead us to a higher level of innovation and better results and solutions for our customers. In the global marketplace, remote working practices go even further.
A model to prepare new generations
Finally, the question of having an educational model that prepares new generations for this format of work is essential to reach the point of balance. It is no less important because it is at the end, on the contrary, it is just what closes the circle to create the remote work ecosystem that can adequately meet the demand for talent.
Today, the way people are prepared to enter the world of work is essential. The autonomy, trust Yes transparency that underpin the remote work model must be values promoted through education.
It takes a pedagogical model which generates learning habits, which reproduces real environments of multicultural teleworkers in which they are confronted with daily challenges such as intercultural communication. In doing so, the transition to the world of work is smoother for both parties.
Ultimately, it’s about this readjustment of talent in a remote work ecosystem reaching a balance and meaning a win-win formula with productive businesses and employees who grow professionally while leading the lifestyle they choose to feel fulfilled.
*The author is CEO and founder of edtech Microverse (@ArielCamus)