August 19, 2022

Looking for the Best States for Remote Work? We’ve Got Answers

Posted on August 19, 2022August 26, 2022 by Staff Writer

During the pandemic, remote work became essential for many workers and employers. The benefits associated with this is what encouraged remote work positions to persist in its aftermath. Now, on average, remote jobs now represent about 12% of all the positions listed. But these remote opportunities vary among states. Fortunately, recent surveys have examined which are the best states for remote work in the current climate. Different methodologies are used among these surveys resulting in different results. But taken together, it becomes a bit easier to recognize which are truly the best states for remote jobs. In addition, there are certain industries as well as cities that are also more receptive to remote work than others. Given that the remote work landscape is changing quickly, this is important information to know. It certainly could make job hunting much less frustrating, as well.

(Bold has written extensively about the remote work trend–brush up on the subject with this story!)

“Overall we have seen a steady rise in the availability of remote jobs across all geographic regions of the United States, as well as an increase in the variety of job titles and industries hiring.” – Sara Sutton, Founder and CEO of FlexJobs

Best States for Remote Jobs with In-State Requirements

When it comes to positions that allow working from home, there are two distinct types. Some allow you to truly work from anywhere in the world, which has led to an increase in digital nomads. However, these actually represent a minority of the remote work positions. According to statistics, roughly 95% of remote work jobs require employees to still be in specific locations. Usually, this is because of legal, licensing and tax requirements involving the company. Thus, the best states for remote work with these requirements will be different from those where such restrictions are lacking. With this in mind, this is the type of survey FlexJobs conducted to determine which were the best states for remote jobs.

(Remember when I said Bold has written extensively about this subject? Here’s a poll we conducted.)

Believe it or not, their survey actually found that most of the best states for remote work were on the east coast. In their survey, the looked at the ratio of remote jobs compared to active job seekers. Those with the highest ratio were then ranked from top to bottom. According to their study, the best states for remote jobs requiring in-state presence started with Rhode Island, Washington DC, and Delaware. Other notable states also included North Dakota, Maine, Vermont, and South Dakota. This was not expected, but major companies in these states influenced their findings. Specifically, big remote job employers like CVS Health, Fastly, and Cigna Health seemed to skew the results. Regardless, these states still appear to offer a high number of work-from-home opportunities.

“Not only are remote jobs that have a geographic requirement on the rise but so are the highly coveted remote jobs that can be done from any location, all of which is great news for job seekers.” – Sara Sutton, FlexJobs

Best States for Remote Work Overall

The FlexJobs survey is not the only one that has been recently conducted. In another survey conducted by Coresignal, over 43 million job posting were analyzed in North America and Europe. They then examined whether or not the job postings included “remote work” in the listing. Based on that, they determined which were the best states for remote jobs in the US. Based on their analysis, they received completely different results from the FlexJobs survey. Because they did not distinguish between remote and hybrid positions or in-state requirements, the rankings varied. In fact, none of their top five were the same as those reported in the FlexJobs survey.

Remote work is everywhere, but some states have more remote jobs available than others.

Based on this analysis, California led all states with roughly 16% of all posted positions including a remote work component. Additional rankings then showed the other best states for remote work being Texas, New York, New Jersey and Florida. These were then followed by Illinois and North Carolina to round out the top seven. While these were among the top best states for remote work jobs, it was also noted that specific sectors accounted for these higher figures. Specifically, most remote positions involved technology companies, which explains why California led the pack. However, report also noted that trends suggested states like Texas and Florida may soon move up the list. As tech companies relocate to better business-minded states, remote work opportunities will likely change as well.

“The top three leading states in terms of remote jobs share were California, Texas, and New York. One way to explain it could be the distribution of tech companies between those regions” – Coresignal, Data Analysis Company Report

Additional Insights Involving Remote Work

While different surveys concerning the best states for remote work vary, there are additional insights that are important. Specifically, other research has noted that a higher percentage of remote jobs are in major urban areas. This may be because of urban-related traffic and congestion issues, or because cities have greater knowledge worker positions. Certainly, job volumes also play a role. At the same time, key industries are more likely to hire remote workers. In addition to IT companies, other common remote work industries include marketing, sales, finance and customer service. In fact, even healthcare and human resources are more commonly hiring remote workers currently. With this in mind, identifying the best states for remote work will be different for different talents. But it’s evident that remote work is here to stay, and certainly, some states are taking advantage of that.

Want to control your cost efficiency and protect your bottom line? Bold Business can help.

Growth Through Outsourcing: The Effective (and Essential) Strategy For Modern Businesses

Posted on August 19, 2022August 26, 2022 by Staff Writer

Companies turn to outsourcing for a variety of reasons. It’s well known that this strategy can save businesses significant amounts in human resource costs, and effective outsourcing strategies can lead to improved efficiency and productivity. In today’s tight labor markets, this approach can also offer solutions when finding top talent is limited. However, more and more companies are realizing that outsourcing is an excellent way to expand one’s outreach. In fact, growth through outsourcing is rapidly becoming a main reason many firms consider it in the first place.

(Bold Business is more than just a publication… we also handle business process outsourcing!)

Just a few years ago, the percentage of companies choosing to leverage business process outsourcing was reported at 68%. In 2021, this figure had risen to 80%. Why? It wasn’t simply because of the cost savings that outsourcing offers. Instead, firms realized that that could achieve rapid growth through outsourcing because of other advantages. Specifically, effective outsourcing strategies offer 4 distinct ways to help businesses expand. While not all may apply to a particular company, any of them could create a competitive advantage. In fact, failing to consider outsourcing as a growth mechanism could create a distinct disadvantage in some markets.

“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” – Lee Kuan Yew, Former Prime Minister of Singapore

Outsourcing to Boost a Growth Mindset

For many companies, especially startups, members of the core team wear many hats. While they have their specific areas of expertise and talent, they must also deal with the more mundane tasks. As a result, they become distracted and bogged down, unable to allocate their full attention to expansion. If this is a business’ situation, then they failing to use their talent resources in the best possible way. Not only will thus undermine potential growth, but it will also affect productivity and efficiency. To overcome this, some companies can employ effective outsourcing strategies as a remedy.

Growth through outsourcing can occur when a company’s core team is able to dedicate themselves to essential activities. Despite what many believe, psychologists have shown that multitasking is a myth. Rather than attending to more than one task at a time, we instead are rapidly switching back-and-forth between tasks. Almost universally, this results in a decline in productivity with some reporting as much as a 40% drop. That’s why companies who are stretching their core team too thin can benefit from effective outsourcing strategies. In such instances, growth through outsourcing is realized when top talent can focus on what’s really important…growth!

“Master your strengths, outsource your weaknesses.” – Ryan Khan, Founder of The Hired Group

Leveraging Outside Talent for Growth

Many firms who have decided to embrace an effective outsourcing strategy do so to acquire help basic business processes. Common areas where outsourcing talents are sought include human resources, accounting, marketing, and customer service. Even support in cybersecurity and IT are included among common outsourced personnel. But for businesses pursuing growth through outsourcing, a different perspective is considered. In these instances, firms seek out hard-to-find talent through outsourcing that can give them an advantage. In other words, outsourcing provides easy access to expertise that may otherwise be difficult to secure.

It’s been well recognized that labor markets in some industries are rather tight with a notable skills gap. This is especially true for technology talent who’s up to date on the latest developments. Rather than paying excessive salaries for in-house experts, companies are increasingly realizing outsourcing offers a much better solution. Effective outsourcing strategies that acquire such expertise in a more flexible manner without the long-term commitment has perks. Growth through outsourcing still occurs but without having to offer benefits and top pay. Plus, less time and energy are spent in recruiting, again resulting in better allocation of resources.

“Companies are past the basics of talking about outsourcing and offshoring. Executives understand outsourcing now and want to know how to effectively use it in their organizations.” – Jagdish Dalal, CEO of Corporate Affairs

Instant Access to International Markets

One of the most important growths through outsourcing features involves the specific site of origin where outsourced talent resides. In the past, it used to be that India and a few other countries offered quality talent. But that has changed dramatically in the last decade. Several countries in Eastern Europe, the Philippines, and even Mexico now offer high-level talent. Plus, these are now homes to some of the best foreign universities in the world. Therefore, for companies looking to expand internationally, outsourcing has some additional advantages. Effective outsourcing strategies can actually be used to facilitate new foreign markets.

Growth through outsourcing means saving on in-house labor while expanding your workforce.

As multinational enterprises are aware, different countries have varied languages and cultures. By choosing outsourced services in a particular region, companies can gain novel opportunities to expand into new markets. This is an interesting growth through outsourcing approach, but it’s one that works for some firms. In combination with other effective outsourcing strategies, leveraging local talent who know the language and culture can be an asset. Naturally, this may not apply to every business, but for a select few, it reflects a creative approach. Plus, it can save a firm significantly on cultural training and ex-pat incentives when exploring new foreign endeavors.

“Do what you do best and outsource the rest.” – Peter Drucker, Austrian-American Management Consultant, Educator, and Author

Outsourcing as a Means to Acquire Capital

All of the above represent important growth through outsourcing rationales. By adopting effective outsourcing strategies, companies can better meet their needs so they can focus on expansion. Of course, growth usually demands capital, and perhaps the best reason to pursue outsourcing relates to the cost reductions enjoyed. By spending less on routine services that add little value to your product, you gain opportunities to better invest in growth. Regardless of a firm’s situation, some areas nearly always deserve outsourcing considerations. And for modern business today looking to not only compete but grow, it might just be a requirement.

Want to control your cost efficiency and protect your bottom line? Bold Business can help.

Slow and Steady May Win the Self-Driving Robotaxi Race

Posted on August 19, 2022August 26, 2022 by Staff Writer

For several years, transportation enthusiasts have touted the arrival of the self-driving taxi. They promised all of us would soon be relying on an autonomous taxi for ridesharing services in the near future. While progress has been slower than expected, it doesn’t mean the experts weren’t correct. In fact, it seems that several companies are moving full steam ahead with very promising results. Several companies are already testing such vehicles in major cities in controlled environments. And one just received the highest level of safety certification at a federal level. Though self-driving car predictions may be a little off, their eventual accuracy looks to be on point.

(Yes, Bold made some self-driving car predictions. Yes, they were a little off.)

This past month, Zoox, an autonomous taxi startup, was awarded the Federal Motor Vehicle Safety Standards certification. It is the first company to earn such a designation among those pursuing self-driving taxi concepts. This is a major step in the right direction in advancing full-fledged operations of these vehicles on a national scale. And with Amazon as Zoox’s parent company, this has important relevance for the future of self-driving transportation. While this doesn’t mean such offerings will be immediately available, their arrival should be in the very near future. And companies invested in the long game will likely be those that reap the greatest benefits.

“We’re really close. [Our self-driving taxis is] coming together. You’re going to see it sooner rather than later.” – Jesse Levinson, Zoox’s cofounder and CTO

The Autonomous Taxi Companies in the Lead

While Zoox and Amazon may be the first to receive the prestigious federal safety rating, other self-driving taxi companies exist. In fact, two companies are actively involved in current operations in controlled test areas. The first is General Motor’s Cruise, which has been approved for autonomous vehicle operations in select areas of San Francisco. The other is Alphabet’s Waymo, which has been testing its models in the suburbs of Pheonix. Both of these companies have been approved by the DOT and state DMV agencies for these test operations. Thus far, Zoox has yet to receive such approval.

Zoox itself is based in Foster City, California, and plans to eventually pursue operational approval in the state. Given that these approvals are often difficult to predict, Zoox has been conservative in their estimations. At the same time, however, Zoox looks to be more focused in safety and performance. Unlike Waymo and Cruise, Zoox’s self-driving taxi is a fully electric vehicle and has a host of additional safety features. Zoox is also building infrastructures so that they can produce tens of thousands of their autonomous taxi in the future. Thus, while Waymo and Cruise look to be rushing to be first to market, Zoox has a longer-view perspective. However, all three are getting closer and closer to making autonomous travel a reality.

“Building from the ground up we knew which federal automotive safety standards we would have to incorporate and then we did simulations, engineering tests, analysis, etc. to make sure we could meet those performance requirements.” – Mark Roskind, Chief Safety Innovation Officer

A Closer Look at Amazon’s Zoox

In addition to having a different approach, Zoox’s self-driving vehicle also exhibits several unique features. The vehicle itself looks like a small van that is actually quite roomy inside. A big reason for its spaciousness is that it lacks traditional equipment that you might expect. For example, it has no steering wheel, pedals, or driving controls. Also, it can accommodate 4 passengers who are seated facing one another. And it has fully electric motors in the front and rear, which allows smooth movements in all directions. While this is not totally unique compared to other autonomous taxi companies, Zoox is fully electric and not a hybrid like some.

Are you ready to ride in an autonomous taxi?

In addition to these features, Zoox’s self-driving taxi boasts both high performance and innovative safety features. The autonomous taxi can travel up to 75 mph on the highway with its 132-kwh electric motors. It can also travel up to 16 hours, which makes it ideal for ride-sharing purposes. The Zoox little van also has a horseshoe-shaped airbag that drops down from the roof upon impact. This design allows all passengers to be protected from injury should another vehicle collide with the car. Undoubtedly, this is one feature that helped Zoox in its pursuit of federal safety certification. And it’s also a feature state DMV agencies will appreciate when state certifications are considered.

“There is a huge demand for moving from point A to B in a city. [The autonomous taxi market is] a billion-dollar market, even materially interesting for a company the size of Amazon. [However] it’s not a plan to get rich quick.” – Jesse Levinson, Zoox’s cofounder and CTO

Projecting the Future of the Autonomous Taxi

Given the current landscape of the self-driving taxi, predicting the future of self-driving cars is difficult. For example, a recent mishap involving the Cruise autonomous taxi in San Francisco is being evaluated by the California DMV currently. Accidents, including those unrelated to a self-driving taxi malfunction, push the pause button for states in advancing these services. And this is precisely why Zoox is not making any bold predictions about its go-live dates. It’s also the reason the company has decided to invest heavily in safety and pursuing a more cautious approach. Thus far, this strategy looks to be a preferred one.

Of course, not all autonomous taxi companies are as patient as Zoox. This perhaps differs because Zoox’s parent company, Amazon, has much broader plans for these vehicles. Given Amazon’s need for autonomous delivery services, the Zoox self-driving taxi will likely evolve into a fleet of autonomous vehicles. This is why Amazon purchased Zoox in 2020 for the price of $1.2 billion. Because Amazon was in it for the long game from the start, Zoox is under little pressure to be first to market. Instead, its focus is more on getting it right from the start. And as the first company to receive federal safety certification, everything seems to be going as planned. Zoox may not beat Waymo or Cruise in providing ridesharing services. But it is well-positioned to be the eventual industry leader in autonomous travel.

Want to control your cost efficiency and protect your bottom line? Bold Business can help.

Day: August 19, 2022

Looking for the Best States for Remote Work? We’ve Got Answers