In Part 1 of this series, we looked at the emotions, interactions, and dynamics that fuel or hinder team success. We are now focusing on how the fundamental recruiting, composition and onboarding of teams is evolving with new trends in the workplace, technology and pandemic recovery. A hard truth is emerging: while there is no ‘me’ in the ‘team’, companies that lack the talented people they need to build functional teams and stimulating growth will fall behind. This leads to unprecedented challenges in building and maintaining teams.
To unwrap this challenge, let’s take a look at how we got there. We’ve been on a tumultuous trajectory since the Great Recession, with unemployment rates in the United States dropping to their lowest level in 50 years before hitting 90-year highs during the global pandemic. However, one of the most significant challenges for the U.S. economy and pandemic recovery has just emerged. We are rapidly heading into another unprecedented period, a time when there may not be enough people to fill the jobs that fuel business growth. One of the factors contributing to this dynamic is the relatively small size of Generation X. In addition, the labor market was already showing signs of seismic change, people quit their job at record rates even before COVID-19 disrupted the world.
Skeptical? Consider this: people were already quitting their jobs in favor of gig or entrepreneurial initiatives, the The American workforce was shrinking compared to historical trends, and the the cost of hiring new talent was increasing- now tipping the scales at around $ 4,000 per average hire. By evaluating talent pipelines, from the front lines to the executive ranks, many senior leaders find that they do not have the talents required to fill key roles, nor can they easily find the right ones. advanced skills needed in the market. Addressing this reality increasingly indicates that it is necessary develop people internally, as well as looking for more flexible ways to recruit talent and create effective teams.
The combination of these factors presents a dilemma for talent managers: how to build and deploy teams smoothly and efficiently when professionals are more dispersed, talent needs are accelerating, and people have more options for earning a job. salary ? To better understand the future composition and dynamics of the teams, we met Gabe Luna-Ostaseski, co-founder of the Braintrust Network. Braintrust serves some of the world’s largest companies, including NestlÃ©, Porsche and TaskRabbit, and is changing the digital job market and the way organizations hire people with advanced technical skills. In doing so, it disrupts the recruitment and onboarding of highly skilled technology workers and changes the way teams are formed, operated and developed.
Beau River: How is the âwar for talentâ affected by digital talent markets?
Gabe Luna-Ostaseski: The most important implication is that big companies realize that they are all competing for the same talent. It’s not just Google and Facebook competing for tech talent; all companies are increasingly becoming tech companies, and there is not enough highly skilled tech talent to fuel their growth. Finding the right talent and providing them with a positive engagement experience both on the market platform and the organization they work with is the critical duality. The evolution of the digital job market started with the wild west of Craigslist and other online brokerages. Then the boom in the gig economy has been great for the big companies that run the markets by taking large percentages of the workers, but the workers have not benefited proportionately, and as a result, it has been easy to lose trust in platforms. The third iteration of the digital labor market is much more distributed, owned and operated by users. The ultimate question is: what do people expect from work? It is clear that they want flexibility, free time and development. There is a compromise that has been made when it comes to people leaving organizations. People are now exchanging their free kombucha for autonomy and geographic freedom. The modern world of work has made it possible for people to make decisions about trade-offs.
River: What should large companies understand about how technology is changing the way organizations engage highly skilled workforce?
Luna-Ostaseski: The labor market is not a new idea, but over the past 10 years, the workforce from this market has been extracted and marginalized. The user base typically pays exorbitant prices, up to 30%, which ends up causing people to quit the platform and ultimately lose confidence. Fees and user experience kill the network effect. The middlemen in the equation extract value from the worker, kill the job market, and ensure that people with scarce skills avoid the experience. It can also be argued that typical middlemen in the odd-job economy have lowered the minimum wage. Ultimately, there is no incentive for people with options to engage in this system, and no incentive for them to attract new talent. We have reduced this model to the bare minimum. We don’t charge talent fees, we give ownership and control to the community, and we make talent the controlling people and the governing class. This is the fundamental change in the business model. Our platform allows talents to sell their skills to the highest bidder. It turned a hierarchy into a market. The transition cost to act as a self-employed person has decreased considerably. Before, people had to accept less job security to get these things as an entrepreneur or an entrepreneur. Now that risk is drastically reduced and people are rethinking what a “career” really looks like. Maybe they don’t need a 401K if they earn 30% more. The digital job market was once made up of front-line workers, now this is happening across all skills, from finance to software development, product development and graphic design.
River: How should hiring executives think about building highly skilled contract employee teams, employee experience, and integrating talent into existing functional teams?
Luna-Ostaseski: The biggest mistake we commonly see is that people outside the office are treated like second-class citizens. You don’t get a beneficial osmosis between the teams if you create this duality. When that dynamic is suppressed, interesting things happen. Everyone has found that subcontractors who are included and integrated into the team get to work very quickly, they quickly add value with their unique perspective and they quickly find contacts in the organization who can help them.
River: How do you identify the fit between individuals and organizational cultures, team chemistry, or fit with a manager in the talent sourcing process?
Luna-Ostaseski: There are attributes that match easily in terms of skills, skills tested, language proficiency, and technical skills. We are now starting to collect attributes to make better connections between talent and these less tangible aspects of success. We are also seeing a shift in leadership behaviors that best engage and guide a virtual team. We go from what great managers do in an office to what great managers do remotely. Usually this is motivation and ârah rahâ in an office. These behaviors do not translate to success in a remote environment. It’s more about presenting opportunities, directing the details and removing barriers for people; this is the virtual manager. When people understand direction in clear written form and are able to make adjustments, we see a lot more engagement.