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How to Grow Trust When Working in the Remote Economy – Inc.

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Prior to the pandemic, only 6% of employees worked from home, and about 3/4ths of workers had never worked from home according to data from the National Council on Compensation Insurance (NCCI). But by May 2020, fully 35% of the U.S. workforce had been sent home because of Covid, driving the total remote workforce over 40% and exceeding McKinsey estimates from a year before regarding the max percentage of work which could be conducted remotely. In many cases, these transitions were made with very little communication and with almost no training for supervisors about the differences between managing remotely vs. in-person. These simple, unforced errors would turn out to be among the most significant contributors to what’s been dubbed the “Great Resignation,” a mass, voluntary exodus from the workforce of now 24.2 million employees between April and September of this year. And it’s a phenomenon that’s showing no sign of slowing down; September quits, preliminarily reported at 4.434 million were a record, beating the prior record of 4.270 million set just the month before. But for those who were already working remotely prior to the pandemic, like the folks at small enterprise, Kolabtree – a six year-old online marketplace that connects businesses and academics with more than 800 freelancing scientists and technologists around the globe – not only could they have seen this coming, but they could have helped many to avoid the critical errors that have led us to this point.

I had a chance to visit with Ashmita Das, CEO of Kolabtree, to speak about a range of topics from the future of work to the root causes of the “Great Resignation.” We spoke at length about remote work. It is, after all, a topic Ashmita knows a thing or two about. Not only have Kolabtree’s associates worked remotely from day-one, but their entire business model relies on connecting people with others – remotely.

She and her team were reminded early on that traditional in-person management relies heavily on visual inputs – things the leader can see and observe with their own two eyes – and that remote work largely removes the opportunity for visual observation. This reality required Kolabtree leaders to shift their entire thought process from inputs to outcomes. Ashmita warns that “for insecure people, it doesn’t translate well.” This has been true in the Covid economy where resigning workers have complained of an increasingly toxic management environment marked by heightened micromanagement and constant check-ins by suspicious bosses. But when pragmatic leaders successfully shift their focus from hours worked (inputs) to work completed/performed (outcomes), the result can be, as it has been for Kolabtree, quite remarkable in terms of increased productivity and improved associate engagement.  Ashmita summed it up quite succinctly when she told me that at Kolabtree, “there’s no time tracking; what matters is what you produce.” But it’s also about flexibility.

Workers fleeing businesses today could not be clearer about their desire for greater flexibility. Ashmita, too, warns business leaders against rushing to implement historic extremes. Needlessly mandating rigid, traditional work hours or other practices in the midst of a pandemic has been a giant turn-off for many workers who have elected to seek other options, voting with their feet. Kolabtree recognized the value of flexibility and independence early on. Their associates work when they feel they are most productive. “If you’re a night-owl, work at night,” says Ashmita. It’s all a matter of trust.

That trust is the central feature to making remote work possible is, in fact, what Kolabtree figured out early and what so many in a worsening “Great Resignation” have yet to grasp. The entire Kolabtree enterprise whether from Kolabtree to its associates or vice versa, from their collaborators to them or vice versa, from them to their clients or vice versa and, finally, from their collaborators to their clients or vice versa, is built on and relies upon trust. Kolabtree must trust that their associates from many miles away will get their work done right, on time. Their clients must trust that a scientist they’ve never met in person will deliver critical work done to exacting specifications, when promised. And Kolabtree’s collaborators and associates must trust that the company will do right by them, every time. Without trust anywhere in the system, the whole works falls apart. With trust, things hold together, and risk is diminished across the entire works. Ashmita Das understands this implicitly and operates accordingly. It’s why she views what she and her team are doing as the future of work.

In speaking with her and thinking about all that I’ve seen change during that last 18 months of work, it occurred to me that what may have changed most about attitudes towards employment is a shift in the way that work impacts one’s identity. For virtually ever, who one works for has been the principal element of their work identity. Had you asked almost anyone a year or more ago about their work, they’d very likely have told you where they work. Alternatively, asking the same question today will increasingly result in people responding by telling you what they do. For people focused on outcomes rather than inputs and moreover those, like Kolabtree, who make a living connecting problems with solutions, this is a very welcome trend – particularly as the social contracts of the last century, one of the last tendons connecting workers to the brands that employ them, increasingly prove to hold empty promises for the employee of today.

So, for those looking to learn a thing or two from those who went remote before remote was even a thing, here’s the big takeaway: Shift from inputs to outputs; learn to be flexible; and build trust by the bucketful. Above all, remember that increasingly, workers derive greater psychological association from the work they do than from who they do it for. By making it more about them and less about you, they’ll stay happier and stay with you longer.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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Economy

PBO projects deficit exceeded Liberals’ $40B pledge, economy to rebound in 2025

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OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.

However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.

The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.

Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.

The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.

The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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Statistics Canada says levels of food insecurity rose in 2022

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OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.

In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.

The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.

Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.

In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.

It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.

This report by The Canadian Press was first published Oct 16, 2024.

The Canadian Press. All rights reserved.

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Economy

Statistics Canada says manufacturing sales fell 1.3% to $69.4B in August

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OTTAWA – Statistics Canada says manufacturing sales in August fell to their lowest level since January 2022 as sales in the primary metal and petroleum and coal product subsectors fell.

The agency says manufacturing sales fell 1.3 per cent to $69.4 billion in August, after rising 1.1 per cent in July.

The drop came as sales in the primary metal subsector dropped 6.4 per cent to $5.3 billion in August, on lower prices and lower volumes.

Sales in the petroleum and coal product subsector fell 3.7 per cent to $7.8 billion in August on lower prices.

Meanwhile, sales of aerospace products and parts rose 7.3 per cent to $2.7 billion in August and wood product sales increased 3.8 per cent to $3.1 billion.

Overall manufacturing sales in constant dollars fell 0.8 per cent in August.

This report by The Canadian Press was first published Oct. 16, 2024.

The Canadian Press. All rights reserved.

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