While COVID permitted greater remote employment, the digital nomad lifestyle was facilitated by speedy international payments.
At a time when layoff notices are common, especially among once-hot Silicon Valley tech enterprises, the demand for alternative working arrangements has never been higher.
According to GoLance CEO Michael Brooks, Papaya Global CEO Eynat Guez, and Nium CRO Frederick Crosby, cross-border or international hiring is thriving, and while the concept of working from anywhere remains romanticized, managing a distributed crew is difficult.
“It’s incredibly tough to cope with in practice,” Guez noted, stressing that many firms have been grappling with inflation, rising salaries, and cost-cutting measures.
“It’s incredibly tough to cope with in practice,” Guez noted, saying that many firms have been coping with inflation, rising wages, and cost-cutting measures.
Workers who are not part of the organization’s core teams are the first to be laid off in a wide range of hardware, software, and service organizations.
And, as these companies restructure, they’re thinking if they need staff in pricey places like the Bay Area, or whether they can outsource those jobs to less expensive locations.
“It’s not only about getting rid of the global workforce,” she continued, “but about becoming wiser and more efficient in how we function as an organization.”
Beyond the headlines about employees being fired from many of Big Tech’s marquee names, Brooks stated that “we haven’t really seen things slow down.”
The rate of pay increases for high-level technology employees has slowed slightly. Wages for less-skilled workers have also risen in tandem with inflation, he claims, with data entry workers in the Philippines, for example, seeing pay rise from around $3.50 an hour to today’s $5.50.
