Throughout one’s professional career, being made redundant is likely to happen.
According to the Office for National Statistics, there are around 3.5 people out of every thousand who lose their job each quarter.
In the period I was made redundant, I was one of the 0.43% of the population who lost their job in that particular quarter.
For me, it was quite drastic. Just one week before getting my notice, I was being flown out to San Francisco to drum up business and speak at a conference. The next, I was on my own.
While for many the experience of redundancy is an unfortunate one, the new world of work meant that the opportunity was present to make the most of it. Here’s how I benefited from what was once (and is now currently) the future of work.
Setting up a business and its infrastructure is easier than ever
In the UK, one doesn’t need to be an employee to carry out work. Digital services today make incorporating a company and putting in place the necessary requirements very easy.
Incorporating a company, acquiring an address, setting up a bank account, and choosing an accounting package that can manage both finances and regulatory requirements means that there is no significant barrier to entry when it comes to setting up a trading entity.
But even though the UK is known for the ease of doing business (currently being placed at number seven globally according to The World Bank at doingbusiness.org), the example shown by Estonia demonstrates how easy it could eventually be.
Estonia is the first country to offer e-residency. It’s as simple as filling out a digital form and paying €100. Once approved you are issued an Estonian ID and digital reader.
With your Estonian residency it is then possible to incorporate your business in Estonia without ever visiting the country. Companies like LeapIN.eu make incorporating your business in Estonia easy by providing services such as setting up bank accounts, accounting services and making sure your company is compliant.
I am personally considering the ‘Estonian option’ if needed as a result of Brexit.
Online networks make it quick to get the word out
Being connected online makes it easier to make use of your existing networks. For my situation, I could quickly get the message out about my situation - and within a month, I had landed a contract that lasted for 18 months.
As a ‘traditional’ employee, my contacts mostly consisted of people I could find in the walled gardens of the company intranet. Now, online networks help source talent and build teams regardless of where they happen to be.
Professionals also no longer have to rely on face-to-face events for networking. There are online options such as Guild that make it easy to keep connected with other professionals from all over the world.
Software-as-a-Service means you can be your own IT department
As early as 2013, Forrester had predicted that IT departments would disappear by 2020. A more recent study found that 38% of companies are almost completely running on SaaS.
Today, getting the software required to be necessarily productive takes no more than a credit card. G Suite, Office 365 and an accounting software package means that most anyone can be ready to go. Personally I use more than this, with Asana, Pipedrive and Hyfy being very helpful in my work.
Your colleagues can (often) work from anywhere
For my B2B content marketing work I have had staff work with me from a whole host of different countries - in the past 12 months I’ve worked with contractors and freelancers based in the US, Canada, Romania, Italy, India and Germany.
While for some roles, being present in the same room is critical in terms of being as effective as possible. But for those hiring others, the pool of potential talent has never been greater.
Remote working has gained popularity over the past decade. Recent analysis from the TUC shows that 1 in 16 workers people worked from home in 2017. This is compared to the 1 in 20 that worked from home in 2005.
Your colleagues are not necessarily working at the same company
Leading on from the above, the distributed world of work means that those you work closely with are not necessarily employees in the traditional sense - even if they work in the same building.
It is increasingly common for companies to have teams made up of contractors, agency staff and freelance talent. In fact, for companies like Google and ASOS, 50% of their UK workforce is made up of freelance workers.
Deskspace is more than WeWork
While the larger flexible workspace providers get most of the coverage, the new way in which people work (often as contractors or freelancers for the ‘gig economy’) means that a wide amount of new solutions have emerged.
From local co-working spaces based in the suburbs to the many sites that act as ‘Airbnb for desk space’, finding a physical location in which to work has never been easier. And while some can be pricey, others are cost-effective.
A favourite of mine is Ziferblat in Shoreditch, where one can work or socialise in a living room environment (with free tea and coffee) and simply pay for the minutes you spend there.
Great company culture seems to be everywhere… but isn’t accessible to everyone
Successful, high-growth companies are known for extravagant offices. But the new world of work means that for the growing number of freelancers and contractors, they lack both a place of permanence where they can bond with colleagues and the oft-touted benefits from champions of the new economy.
So while Deliveroo’s offices feature desks with swings and a luminous blue ‘Centre Court’ meeting space, those doing the deliveries may worry about the lack of benefits and support that traditionally came from being an employee of old.
Main photo by Deanna Ritchie on Unsplash
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