The world of work has been changing for some time, but this is exacerbated by the risks and challenges presented by Covid-19.
The nine to five job has proved unsuitable for many: talented professionals are more productive and happier when they can set their own hours and choose the work they take on. Businesses, in turn, have found that permanent staff don’t always suit their needs and startups in particular often employ freelance workers and the gig economy to get them off the ground.
The traditional process simply doesn’t reflect this new normal, so Sujata Rastogi, CEO and Founder of You’ve Got This!, decided to make a change. “I’ve experienced the pain of traditional recruitment,” she comments. Prior to founding You’ve Got This, Sujata worked in FinTech partnerships for a multinational bank and noticed FinTechs needed a variety of expertise but didn’t always need people five days a week.
“For most companies it takes on average three months to hire a team member and involves sifting through piles of CVs. Most of us early-stage founders need talent in the door much faster, and tend to avoid recruiters altogether: we can’t afford the upfront fees,” she adds. Applicants experience a similar story, spending hours on applications and jumping through hoops only to be “ghosted” by a company.
You’ve Got This is a professional talent platform that allows startups to build and manage flexible teams in minutes. It also means professionals can showcase themselves easily, letting startups know their availability, book them and become part of their talent pipeline. Payments are processed as the work is done, meaning companies keep track of spend, spread out payments, and professionals avoid having to chase up on invoices.
“I felt the need to help professionals ride the disruption happening in financial services and come out of it with work they love,” says Sujata. “Sometimes, the best way to do this is to start with a flexible contract a few days a week, or a three-month span, so you can get to know each other and start to build a relationship for the future.
“We are seeing some incredibly talented people lose their jobs right now. Short term, this is caused by Covid-19, but in the long term, automation and disruption will mean people have to make changes in their careers.”
FinTechs can do better by engaging talent with relevant skills and expertise early on, and this will be vital to achieve growth. “When businesses are pre-seed, pre-revenue, or when they experience business volumes that they can’t keep on top of with their core team – that’s when they might need a platform like ours,” Sujata explains.
She adds that the way contingent workers are viewed by companies is beginning to shift, partly due to necessity and an uncertain economic environment. Having an experienced person come in two days a week is a great way to keep the business agile while you find your product market fit.” On the You’ve Got This platform, companies can set their budget and skills needed, and the platform shows them matches, without having to sift through cover letters and CVs.
Self-employment is becoming more popular among experienced professionals, either because of a desire to do something new, or create flexibility. Many talented individuals feel the normal working day has held them back for too long – for example, those who want to work hours that align with their childcare commitments, or want to develop new skills and experience to boost their careers.
Hiring flexibly will inevitably give businesses a more diverse talent pool to choose from. “We are helping people who have been out of work get back in, for example, individuals who’ve taken a career break or been made redundant. We are all about using tech to help people find work that is aligned with their interests and ambitions. As a female founder, I’m acutely focused on tackling the problems that women still face with traditional businesses, such as the gender pay gap and 9-5 office hours,” Sujata adds.
Having just celebrated its first birthday, You’ve Got This! is reflecting on a busy year of building their own flexible team, getting the platform live and garnering positive reviews from founders and in-house recruiters. As the platform continues to develop, with its growing community of users, customer feedback will prove vital. “We regularly hold 30-minute chats with startups to find out more about them and how they are looking to grow.”
As the Covid-19 pandemic continues to change the way we work and businesses adapt to the “new normal”, the way we hire and develop talent will have to keep up. Sujata says. “Half the workforce is expected to work for themselves in five years,” says Sujata. “That’s quite a shift.” As You’ve Got This! has begun to demonstrate, getting the FinTech community back to work will involve flexibility, technology innovation, and most of all a clear understanding of what both an employee and a business needs.
Find out more about You've Got This! on the company's microsite.