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Daniel Ramsey, CEO, and Co-founder of MyOutDesk and Liam Martin, Co-Founder of Time Doctor share a similar vision, that Remote Working and Virtual Staffing is the way of the future. In 2017, only 2% worked full-time remotely. By 2027, 50% of work in the United States will be completely remote! You don’t want to get left behind, do you? Watch the highlights as they discuss why you should gear-up and prepare for the next wave of the future.
A Distributed Model is The Best Way to Go
Liam Martin says that Time Doctor has about 100 remote employees from 32 different countries and says that they believe it is truly the best way to work. It is factual, and there is no debate at this point this is an evident projection. We are talking about a shift in labor not seen since the industrial revolution. It is a complete re-imagination of the way that we run labor. Fundamentally we are moving towards an entire shift towards how work is done. This will lead to a much more sustainable and happier world.
Remote Workers Save Businesses More Money
You may be attached to running an office and having that “physically present” environment but holding on to this belief system will cause you to bleed revenue. Set aside the fact that outsourcing virtually costs less in general. Most large scale studies show that remote workers are 20% more efficient, regardless of wages than those working in an office and more importantly, retention is 30% higher. This is a massive deal because every time you replace someone within your company, it costs you approximately $36,000. From job posting to screening applicants, finding candidates, training the final hire, etc., costs a lot of money. Every time you save someone from quitting, you keep your company from bleeding money.
How to Transition
Always work from the premise that your team or staff is 10,000 miles away. Set-up your systems and processes in such a way that it works regardless of the location of your employee. This way, whether you are hiring in-house or virtual won’t make a difference. Global is the new local.
Moving from Entrepreneur to Executive
Delegation is not easy for anybody. You cannot be tied down by feelings of guilt or control. The first step is realizing that delegation in itself is a job role. You need to shift your focus from yourself to fostering people to help you build your business with you. Measure your priorities, do you want to feel good about yourself, or do you want your business to grow. Figure out what to dish out from your plate by pinpointing your biggest “time suckers” each day. Once you have a list, figure out which ones only you can do, which ones can be digitized or automated and which ones someone else can do. You can start delegating the things someone else can do. Remember that nothing can replace an actual intelligent human being when it comes to a lot of these things, but it doesn’t mean that you have to do everything yourself.