The Davos experience: G-P founder Nicole Sahin shares some thoughts
At the World Economic Forum's annual meeting in Davos last month, equitable and inclusive access to employment, employment protection, and good quality jobs were high on the agenda. Accordingly, the Davos conversations included a number of speakers representing industries and organisations that advocate for, or support access to employment.
Among this company was Nicole Sahin, Founder and Chair of G-P - one of the world's largest SaaS-based employers of record, known as Globalization Partners before rebranding last October - who spoke about the role that remote work plays in ensuring equal access to employment opportunities and creating greater economic equity, as part of the Centre for the New Economy and Society. G-P was earlier selected as part of the WEF's Global Innovators Community, a group of start-up and scale-up companies that works with public and private sector decision-makers on using new technologies to address pressing long-term global concerns.
People Matters asked Sahin about her presentation at Davos and the experience of being part of a global community that actively works toward alleviating economic and social inequities. Here's what she shared.
What were the key points of your presentation?
When I founded G-P and the EOR industry in 2012 I saw this not only as a business opportunity that would enable companies to hire anyone, anywhere in the world, but also as a way to promote cross-cultural empathy and economic equity. Companies that want to win must hire globally and our global employment platform makes it possible for them to look beyond their backyards and local borders and tap into emerging talent markets. At the same time, this means that people are no longer restricted by their geographic location to only local employment opportunities.
Now, they can access quality employment with some of the world’s largest companies. It’s all made possible without having to move to a large population center, bringing economic prosperity to underserved communities throughout the globe. As a result, we are starting to see premium talent in emerging economies demand “Global Salaries.” Two years ago, a person’s salary would be benchmarked in country, and what we're seeing more frequently now is that salaries are really based on what the employee brings to the company.
I also focused on the impact of AI in the world of labor. While AI will in some cases replace jobs, my view is that many jobs are not going away but they're becoming much more efficient. Highly skilled talent will always be in demand and that means there will also be a need to continue to educate people in STEM and humanities as the labor landscape continues to evolve. I raised these points to this audience because of the strong concern and many questions about how work is changing, including the availability of enough talent with the right skills as we move forward into the future.
Interacting with the other speakers and with the members of the audience, what were your observations of their thoughts and expectations on employment and the future of the workforce?
My session was standing room only, which I see as indicative of the interest in co-creating the future of work.
Many of the questions revolved around talent sourcing and the challenges being faced because of the on-going talent shortage in many of the world’s largest economies.
This level of engagement is because it is about how we create opportunity and sustain ourselves – it is important to everyone and critical to the running of companies. Accessing a global workforce is currently helping organizations ride the economic storm by launching operations in new markets, finding new revenue streams, being flexible in terms of hiring, and having a diverse company culture.
Today, talent sourcing is not confined to geography or local jurisdictions, as technology allows companies to access highly skilled professionals quickly and compliantly in every corner of the world. Remote work is set to become a driver of the Fourth Industrial Revolution and is having a great impact on how companies scale and do business today.
All this makes the topic relevant, and people left the session with a clearer picture of what’s to come in terms of the workforce’s future and how it will change our lives. We are going through very critical and exciting times, and I’m glad my company is part of it, breaking down barriers and unlocking opportunities for everyone, everywhere.
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What trends did you observe at this year's WEF meeting that might change the way work, employment, etc. are being addressed today?
Related to the future of work, many governments are investing in digitizing their systems, which is better for their constituents as well as business.
I was excited to see the talk focused on trends that center around Fintech and platforms like ours at G-P. The ability to access quality employment and for companies to access a global talent pool, is only half the battle. Making certain that talent is both fairly and securely paid with their preferred in-country currency and that companies can do this easily, is essential. These platforms democratize access to resources and opportunity.
What are your hopes and expectations for the outcome of this year's gathering?
Davos is about people who want to change the world by collaborating. My expectation is that many partnerships will be born from Davos, and ideas shared, that will ultimately support a positive and exciting transition into our collective future.