Rise of the startups
India found a tidal wave of startups between 2007 and 2008, where the companies catered to bridging gaps in e-commerce, logistics, and marketplaces.
The next wave hit us during 2013 – 2014, when incubators, accelerators, and funding organisations identified workable business ideas. Now more startups concentrate on providing digital solutions for social, environmental, commercial and business productivity solutions.
They are is a lot of outsourcing done to India, so the startups are able to work on their own terms and conditions; scrutinise and pick clients; choose the work nature, method, and timings. But they still have to answer the investors. Hey! a little autonomy goes a long way.
Startups versus multinationals
- More pay
- Minimal rules and regulations
- Exploration and experimentation with various projects
- Exposure to various technologies
- Invest time in developing various skills
- No fear of layoffs
- More chances of promotion
- Can take on multiple roles
- Understand the business from a management point of view
- Challenging work
- work-life balance
- Flexible working hours; work-from-home (WFH) and remote working options
Given all these benefits, a job at a startup is an attractive offer these days. Working with clients belonging to various time-zones becomes easy with remote working. Of course, secure, confidential, and exclusive log-in options are needed to compete with the bio-metric and intranet alternatives.
Remote working, anyone?
Remote working is a boon for most startups. I can give you three main reasons to validate my stand:
Hiring and Facility Management
The hiring forecasts and the process are dynamic and dependent on projects. There is no periodic hiring. So, investing in space to accommodate all employees is a financial strain.
This is why mores startups have co-sharing spaces; business centres, home offices, and incubators. The lesser seats they pay for, the better. Instead, having employees work remotely is a suitable option. Of course accountability, responsibility and physical presence during meetings are necessary. That’s where Skype is a Superman.
Facility management budget will cut down by 95% (furniture; extra equipment; stationery; current and water bills; food bills; common equipment, generators; housekeeping materials; sundries; cab facilities, fuel bills). These costs go unnoticed and employees usually think of the fixed, variable and fringe benefits that they take back home. That money can ideally be used to invest in something more valuable for them — phone and internet bills; subscriptions for professional courses etc.
With proper policies in place, employees can work remotely and put their excruciatingly painful commute-time to a better use.
Employees’ interaction can now solely be professional interaction on company’s internal messengers and collaborative online work platforms. Long breaks and lounging sessions can be checked.
If employees are available all the time by phone, e-mail or messenger, that is more productive than them strictly clocking in business hours and attend to clients at odd hours.
Remote working opportunities are also going to help employees in the future as they would inevitably shoulder marriage, maternity, and household responsibilities. Simply, giving them time to take care of their bank, school, parenting, hospital visits, shopping etc.) would make them grateful. They would put in double the productivity for work if the company is considerate. It will also help to attract candidates from various locations. The startups do not have to spend money on their relocation. Retired and senior professionals can also work with startups and not worry about travel. In turn, the startups get more guidance and direction.
What’s the future like?
Remote working, flexi-time, WFH options are the way forward. This will attract a lot of talent across the globe. Stationing employees globally is sound for business as well.
Digital era, is bringing in a lot of mobility for people. They are entrepreneurial and want to use every bit of their time to invest in something productive. An employee may work in a startup, work on a side business and put aside a little time for that every day.
In fact, increasingly, there are companies built with just two or three freelancers. In future, businesses will largely be outsourced, talent will be hired on contract/ freelance basis. So, remote working opportunities will be the most feasible option for people who want to be dual or multi-professional. Employees will also be more enthusiastic to work with a company that is sensitive to their evolving lifestyle.
Have you worked remotely? Share your experiences with me and comment below!