“The mobility of labor has completely changed over the last two years, and we are just starting to recognize that now.” — Liam Mclvor Martin, President and Chief Innovation Officer, Insured Nomads
In the last two years, more people have moved to a remote work model than ever before. Employees discovered the advantages of working from anywhere in the world, and millions of them are willing to quit their jobs before going back to the office. In this scenario, companies need to understand the advantages of remote jobs and use them to their favor.
In this session of the Pangeo Conference moderated by Jenifer Holmes, Senior Manager of Demand Generation at Globalization Partners, Allen Koski, President and Chief Innovation Officer at Insured Nomads, and Liam Mclvor Martin, Co-Organizer of Running Remote, Co-Founder of Time Doctor and Remote Work Advocate discussed the challenges companies face during this surge of remote work, the most common compliance concerns, and how to benchmark salaries when employees are everywhere in the world.
How are “The Great Resignation” and “The Great Migration” connected, and how do they impact both companies and employees?
Opening the questions of this session, Liam Mcvlor Martin affirms that the mobility of labor has changed in the last two years, but we are just starting to pay attention to it. After the coronavirus pandemic, employees are not willing to return to the office and lose the freedom they obtained with remote work. This is the reason why, in the United States, more people have quit their job than ever in the entire history of the country.
For Allen Koski this is a terrific opportunity for teams to get even stronger by allowing people to work remotely and hire talent from around the world. Companies that understand these changes in the work environment will stay ahead of the competition.
“This is a fantastic opportunity to make my team even stronger, and frankly, companies that don’t roll with this are going to be left behind.” — Allen Koski, President and Chief Innovation Officer, Insured Nomads
What compliance concerns should companies consider when building a global, remote workforce?
Companies need to be compliant with the legislation of every country they have people in. Thankfully, in Koski’s opinion, there are several tools and software that allow employers to be up to date with every requirement. He also remarked that it’s fundamental to communicate to the employees that these platforms won’t be used to monitor them — their purpose is to support and make sure every local requirement is in order.
How should companies benchmark salaries when everyone is everywhere?
According to Mclvor, talent and location should complement each other when deciding salaries. People will communicate with one another, even when they don’t share the same physical space, and eventually, discomfort will rise if they find out there are disparities between their wages. The best way to prevent this is to have clear policies to avoid problems or even bad press. Sooner or later, the market will equalize, allowing talent and location to complement each other when deciding salaries.
“Digital nomad is the new cosmopolitan class.” — Liam Mclvor Martin, President and Chief Innovation Officer, Insured Nomads
How will the rise of digital nomad visas change the shape of the workforce of the future?
In the past, individuals moved from one place to another following a corporation or a government initiative. Now, people can work from anywhere in the world without the need of someone else’s guidance. They have more freedom than ever. Therefore, in Mclvor’s opinion, the “digital nomad is the new cosmopolitan class”.
In the final remarks, Mclvor and Koski discussed that governments should support the new nomad workforce to move between countries and cities. By allowing people to come and spend money on your business, the economy will revitalize thanks to this new cosmopolitan class.
What we learned
- The “Great Resignation” has created the best possible environment for teams to transition toward remote work.
- Companies need to establish clear policies for remote work in order to avoid problems between organizations and employees.
- The work environments that support remote work are going to have a competitive advantage.
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