Category Archives: Gig Economy

Introduction:

In today’s rapidly evolving business landscape, companies are continually seeking ways to stay competitive and optimize their operations. Two key strategies that have gained popularity are nearshore outsourcing and staff augmentation. These approaches enable businesses to access skilled talent beyond their local borders, opening up a world of opportunities and advantages. In this note blog, we will delve into the top four benefits that businesses can reap from combining nearshore outsourcing and staff augmentation.

Access to a Diverse Pool of Talent:

One of the most significant advantages of nearshore outsourcing and staff augmentation is the ability to tap into a diverse pool of talent. Nearshore outsourcing allows companies to collaborate with teams located in neighboring or nearby countries, often sharing similar time zones and cultural affinities. This proximity reduces communication barriers and fosters a more seamless collaboration experience.

Staff augmentation, on the other hand, offers access to specialized professionals, allowing businesses to augment their existing teams with skilled experts on a temporary or project basis. This model offers flexibility in choosing the right talent for specific tasks, ensuring optimal results without the burden of a long-term commitment.

By combining both approaches, businesses can strategically build teams with the exact skills and expertise needed for their projects, thereby driving efficiency, innovation, and competitiveness.

Cost-Effectiveness and Scalability:

Cost reduction is a crucial factor for businesses seeking to improve their bottom line. Nearshore outsourcing often provides a cost-effective solution compared to onshore options, as operating expenses, labor costs, and overheads can be significantly lower in certain nearshore locations. Companies can also benefit from more favorable tax regulations and economic incentives in these regions.

Additionally, staff augmentation allows businesses to scale their workforce rapidly and efficiently, without incurring the expenses associated with hiring and training full-time employees. This scalability is particularly advantageous during peak seasons or when undertaking large-scale projects that require additional manpower.

Combining nearshore outsourcing and staff augmentation provides businesses with the flexibility to control costs while swiftly adjusting their workforce according to market demands, helping them maintain a competitive edge.

Enhanced Focus on Core Competencies:

By outsourcing non-core functions to nearshore teams and augmenting staff for specific tasks, businesses can concentrate their in-house resources on their core competencies. This focus allows companies to improve the quality of their products or services, streamline internal processes, and allocate more time and energy to innovation and growth strategies.

Nearshore outsourcing and staff augmentation relieve businesses of administrative burdens, recruitment efforts, and training tasks, as these responsibilities are transferred to external teams. Consequently, organizations can achieve higher productivity and efficiency while capitalizing on the expertise of their outsourced partners.

Increased Speed and Time-to-Market:

Speed is of the essence in today’s dynamic business environment. Nearshore outsourcing and staff augmentation contribute significantly to reducing project development timelines and improving time-to-market for products and services.

With nearshore teams working in similar time zones, real-time communication and collaboration become more accessible, resulting in quicker decision-making and issue resolution. Moreover, staff augmentation enables companies to add skilled professionals to their teams instantly, eliminating the delays associated with traditional hiring processes.

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During the last few years, the way companies recruit new employees and the way professionals offer their jobs have completely changed in the Tech World.

Some of the factors that made it possible are new technology improvement, digital economy development and different changes in a post-pandemic world.

Therefore, an economic concept based on people who offer their services in freelance and temporary ways through mobile applications has become popular. This new relationship within the labor market is called the “Gig economy” and it is applied by many new enterprises, as it accelerates recruitment times, which makes the search for skilled personnel easier for every task.

Small businesses and startups are the main driving force of the creation of digital platforms where workers offer their temporary services which are sometimes related to the tech world. There is currently a great number of young professionals who belong to areas such as web design and development, project management or copywriting, among others that are highly requested. The workers take the advantage of being part of various projects at the same time.

As the economy is becoming more and more digital, the Gig economy is making its way worldwide as one of the favorite options for millennials who prefer working in a remote, flexible, self-employed and short-term way and by objectives.

Although traditional recruitment processes have some known advantages, Gig workers possess certain aspects which seem to be increasingly attractive for 21st-century talents:

1. Innovation: they get in touch with innovative companies worldwide, which enables them to fully develop their creative potential.
2. Remote work: they are able to do their job from anywhere, they only need an electronic device and internet connection. In this way, there is a greater labor supply for them.
3. Labor flexibility: they give priority to flexible schedules that let them organize themselves and combine work and leisure. They prefer short-term projects where they are paid by objectives and not by hours worked. They even do different jobs with many startups simultaneously.
4. Extra incomes: they often use this labor model in order to generate an extra income by working as freelancers in their spare time, as every worker manages their own time.
5. Online payments: due to new technologies, professionals can invoice from anywhere in the world. There are several safe platforms by means of which organizations make payments in a digital way.

These are some of the characteristics of this economic model that is making their way by leaps and bounds thanks to the offered advantages both for enterprises and professionals.

However, within an increasingly competitive working context, it is considerable to know what the companies are looking for and which skills they prioritize when recruiting talents.

These are some recommendations in order to be prepared if some opportunities arise:

1. Inside the Gig world, working experience or academic qualifications are not as relevant as the specific skills of every worker. The idea is to analyze the main problems, the current world challenges and the talent’s contributions to solving them. The most required skills are language, meeting deadlines and writing. It is also useful to recognize the strengths so as to develop them.
2.   Learning to work independently without bosses telling what to do or when to leave is not only one of the benefits but also the challenges of this model. Being organized and able to manage time properly is a must.
3.   Becoming part and familiar with the digital world and the new technologies is vital to perform and improve within a Gig context. Tech-skilled professionals are more and more required.
4.   The constant training is significant. We are talking about areas that are constantly changing and updating, so a university degree is not enough. Continuous learning candidates are taken into account.
5.   This economic model is equal to or more competitive than the traditional one, so it is crucial to demonstrate what someone is capable of. It is important to have a portfolio to show in any job opportunity. In this labor dynamics, they have to worry about performing the job properly and acquiring new clients frequently.
6. Considering what allows the talent to stand out from the crowd is also essential. The idea is to be clear about what their distinctive feature is and create a personal style. Therefore, they will be able to go into the labor market and offer their services successfully.

The gig economy is a trendy model that is chosen more and more by professionals who decide to manage their own time. It has become really popular during the last few years and predictions indicate that it will continue like this.

Although it is a competitive model that needs to be one step forward to achieve the best opportunities, it has numerous benefits and no one would regret adopting it as a labor dynamic.

Some say it is the future work, although we think that the future has already arrived. Now it is necessary to analyze how this trend will continue developing in the medium and long term.

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Work structures and recruitment methods are changing and this creates new opportunities for businesses.

Moreover, the fact of choosing the more adequate professionals for a certain area, within an increasing variety of possibilities, opens up new prospects full of many advantages.

When going through these talent recruitment processes, the supply of candidates increases worldwide. Therefore, companies are forced to update and renew their working dynamics.

Although before it was more complex to work with external participants, nowadays many organizations prefer to hire other enterprises, teams or IT specialists so they can be in charge of the software development outsourcing for their projects.

It is known that large companies around the world have kept this idea for a long time. However, small and medium-sized enterprises now understand that this is also beneficial for them, so that they can obtain better results. This leads to an important question: which are the reasons for this phenomenon taking place more and more frequent and at macro level?

The global market of these services has a value of US$600 million. The companies must think of a new investment due to different reasons: the lack of time to make a recruitment process, the increased pace because of the boom of new technologies and finally the expansion of the outreach of the projects related to those tech tools.

This enables them to reduce not only the costs of doing those tasks but also the time spent by doing them. So they can use that time for other priorities. Also, they try to avoid the expenditures coming from this process being higher than the budget assigned to each project. That’s why the outsourcing is considered to be so viable. The fact of outsourcing this task to external and specialized professionals also helps the internal employees of the companies to focus on deciding which abilities the talents must have. These talents must show that they possess the adequate potential in order to offer customized and more efficient solutions.

The companies who outsource IT experts provide a wide range of web development workers, according to each project, with great time availability and an impeccable career path.

It is essential to take into account that enterprises need agility and willingness towards change and innovation, which means more flexibility and openness at work. Regarding this, having a team that works in a freelance way has important benefits.

The idea is to optimize the delivery time of projects. This makes the marketing processes to happen in shorter times, which provides a greater customer satisfaction and makes possible the increase of the competitiveness on the market.

Moreover, by outsourcing skilled professionals for the software development, companies make sure that those talents put their abilities, knowledge and techniques at the service of the project fulfillment. The aim is to improve the work quality by respecting the required outlines and the fixed delivery times, so that it can work properly.

It is essential to be aware of the past outsourcing experiences of such organizations, as this will be useful when looking for new software developers or when creating and executing new projects.

On the other hand, it is true that by hiring other software development outsourcing companies or IT professionals, the enterprises obtain more credibility. The reason is that when their employees meet the deadlines of each project, there is a chance of improving and surpassing its planning, development and delivery to the specific customers.

In this area, there are great leaders who provide the service of external software development outsourcing. This removes some previous tasks of the companies while they develop their potential of the projects hand in hand with great experts.

Beyond the reasons that cause the boom of this service, it is relevant to mention its benefits:

1. The enterprises which have more trajectory always ask for information about the past experiences of the recruited staff, so they can focus on the customer’s area of interest. They work with responsible, committed and enthusiastic developers.

2. They hire a team made up of different talents which must have the required features according to the project.

3. A worldwide database of contacts is used in order to choose the best web developers.

4. They give the chance to work in the long term with the external developers, which makes the internal employees know each other better. At the same time, it permits a deeper knowledge of the details of the project as a whole.

5. Outsourcing enterprises respect the software developers’ values, cultures and ways of working by agreeing on some specified dynamics to fulfill the projects.

6. This kind of companies establish a communication plan, so that they can assure the normal understanding of every aspect of the project. They also pay attention to the dialogue with the experts to keep the fluency at work.

7. A joint working plan is defined. It is also divided into stages and levels of scalability.

8. They take responsibility for data security and confidential data related to the project.

9. Indicators are measured to check if the project is successful or not.

10. They control the quality of the products by avoiding mistakes or failures before marketing and selling them.

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