YTA Blog

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Unveiling the Latest Trends in Staff Augmentation: How it Can Impact Businesses in the UK

Shamus Jayawardena

April 19, 2023

As businesses continue to adapt to the changing landscape of work, one trend that has gained popularity in recent years is staff augmentation. Staff augmentation is the practice of supplementing an organization’s workforce with external resources such as contractors, freelancers, or temporary workers. This approach allows businesses to quickly scale their workforce up or down based on their needs without the long-term commitment of hiring full-time employees. In this article, we will discuss the latest trends in staff augmentation and how they can impact businesses in the UK.

Trend #1: Remote Work

The pandemic has accelerated the shift towards remote work, and this trend is likely to continue even after the pandemic. Staff augmentation providers can help businesses navigate this transition by providing access to a global talent pool of remote workers. This not only allows businesses to tap into a broader range of skills but can also save costs associated with maintaining a physical office space.

Trend #2: Specialist Skills

As businesses continue to evolve, so do their needs for specialist skills. Staff augmentation providers can help businesses access a range of skills and expertise that may not be available in-house. For example, a company may need to hire a data scientist for a specific project, but they may not have the budget or resources to hire a full-time employee. In this case, a staff augmentation provider can help them find a qualified candidate for the duration of the project.

Trend #3: Agile Workforce

Agile methodologies have become increasingly popular in recent years, and staff augmentation can help businesses adopt an agile workforce. By supplementing their team with external resources, businesses can quickly adapt to changing demands and allocate resources more efficiently. This approach can help businesses stay competitive in an ever-changing market.

Trend #4: Compliance and Regulation

Compliance and regulation are a growing concern for businesses across all industries. Staff augmentation providers can help businesses ensure compliance by providing expertise in areas such as data protection, tax compliance, and employment law. By partnering with a staff augmentation provider, businesses can ensure that they are following best practices and avoiding costly legal issues.

Trend #5: Diversity and Inclusion

Diversity and inclusion are becoming increasingly important for businesses. Staff augmentation providers can help businesses access a diverse talent pool, which can lead to increased creativity and innovation. This approach can also help businesses improve their diversity and inclusion metrics, which can have a positive impact on their reputation and brand.

In conclusion, staff augmentation is a trend that is likely to continue as businesses navigate the changing landscape of work. By leveraging the latest trends in staff augmentation, businesses in the UK can access a global talent pool, tap into specialist skills, adopt an agile workforce, ensure compliance, and improve their diversity and inclusion metrics. By partnering with a staff augmentation provider, businesses can stay competitive and adapt to changing demands.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

7 Tips for SME Founders: to achieve growth and thrive in today’s business landscape

Peruka Gunawardana

April 17, 2023

As a founder of a small or medium-sized enterprise (SME), it’s likely that you’re always looking for ways to grow and succeed in your business. While there are countless strategies and tactics to consider, there are a few key tips that can help you stay on track and reach your goals.

Here are seven tips for founders of SMEs:

Focus on your core competencies

As an SME, you may not have the resources to be everything to everyone. Instead, focus on your core competencies – the things that your business does exceptionally well – and build your brand around them. This will help you differentiate yourself from your competitors and become known as an expert in your field.

Build a strong team

Your team is the backbone of your business, and it’s important to build a strong, cohesive team that shares your vision and values. Hire people who are passionate about your business and who bring unique skills and perspectives to the table. Then, invest in their professional development and provide opportunities for growth within your company.

Embrace technology

Technology can help streamline your operations, increase efficiency, and improve the customer experience. Consider investing in tools and software that can help you automate routine tasks, track your progress, and communicate with your team and customers more effectively.

Stay agile

In today’s fast-paced business environment, it’s important to stay agile and adaptable. Be willing to pivot your strategy as needed, and keep an eye on emerging trends and technologies that could impact your industry.

Prioritize customer service

Happy customers are the lifeblood of any business, and it’s important to prioritize customer service at every stage of the customer journey. Make it easy for customers to contact you, respond promptly to their inquiries and complaints, and go above and beyond to exceed their expectations.

Network and collaborate

Networking and collaboration can be powerful tools for SMEs. Attend industry events, join professional organizations, and seek out opportunities to collaborate with other businesses and individuals in your field. This can help you build relationships, share knowledge and resources, and open up new opportunities for growth.

Measure your success

Finally, it’s important to measure your success and track your progress towards your goals. Use data and analytics to identify areas where you can improve, and celebrate your successes along the way. This will help you stay motivated and focused on your vision for your business.

In conclusion, these seven tips can help you build a strong, successful SME. By focusing on your core competencies, building a strong team, embracing technology, staying agile, prioritizing customer service, networking and collaborating, and measuring your success, you can position your business for growth and success in today’s competitive marketplace.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

4-day workweek : The pros & cons

Shamus Jayawardena

March 29, 2023

The traditional 5-day workweek has been the norm in many countries for decades. However, with the ongoing changes in work culture and technology, the concept of a 4-day workweek is gaining popularity. The idea is to work fewer hours and have more time off to spend with family, pursue hobbies or simply relax. While a shorter workweek can have several benefits, there are also some drawbacks that need to be considered. In this article, we will take a look at the pros and cons of a 4-day workweek.

Pros:

Increased productivity: Studies have shown that employees who work fewer hours are more productive during their working hours. By having a shorter workweek, employees have more time to focus on their work without getting burnt out.
Improved work-life balance: A shorter workweek allows employees to have more time for their personal lives. They can spend more time with their families, pursue hobbies or interests, or simply relax and recharge. This can help reduce stress levels and improve mental health.
Attract and retain talent: Offering a 4-day workweek can be a great way for companies to attract and retain top talent. In today’s competitive job market, a shorter workweek can be a major selling point for job seekers.
Reduced costs: A 4-day workweek can help reduce costs for companies in terms of overhead and utilities. By having one less day of work, companies can save money on expenses such as electricity, heating, and cooling.

Cons:

Reduced productivity during work hours: While a shorter workweek can lead to increased productivity overall, some employees may find it harder to focus during their shorter workdays. They may also feel rushed to complete their work in a shorter amount of time.
Scheduling difficulties: A 4-day workweek can lead to scheduling difficulties, especially for companies that operate on a 24/7 schedule. It may be challenging to find a schedule that works for everyone, and some employees may need to work on weekends.
Reduced availability: With a shorter workweek, employees are available for work for one day less per week. This may impact the ability of companies to respond to client needs in a timely manner.
Reduced pay: A 4-day workweek often means working fewer hours and thus, earning less money. This can be a drawback for employees who rely on their full-time salary to make ends meet.

In conclusion, a 4-day workweek has both advantages and disadvantages. While it can lead to increased productivity and improved work-life balance, it can also lead to reduced productivity during work hours, scheduling difficulties, and reduced availability. Ultimately, the decision to implement a 4-day workweek will depend on the specific needs and goals of individual companies and employees.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

What is Lean Management?

Shamus Jayawardena

March 29, 2023

Lean management is a business strategy that originated in Japan and was popularized by Toyota. It is a set of principles and practices aimed at reducing waste and increasing efficiency in manufacturing, service, and other business processes. The approach is focused on continuously improving the quality and value of products or services offered to customers while minimizing costs and maximizing profits. In this article, we will explore what lean management is, its key principles, and its benefits.

What is Lean Management?

Lean management is a methodology that aims to streamline and optimize processes in order to eliminate waste and reduce costs. It involves analyzing every step of a process to identify inefficiencies, reduce lead times, and improve quality. This approach focuses on the value that the customer places on a product or service, and the elimination of any steps that do not add value to the end product or service.

The Lean management approach can be applied to any industry, from manufacturing to healthcare, and has been successfully implemented in organizations of all sizes. It is based on the principles of continuous improvement, respect for people, and the pursuit of perfection.

Key Principles of Lean Management

The key principles of Lean management are:

Value: Lean management starts with a focus on the value that the customer places on a product or service. The goal is to create value for the customer while minimizing waste.
Value stream: The next step is to analyze the entire value stream – the series of steps that are required to produce the product or service – to identify inefficiencies and areas for improvement.
Flow: Lean management aims to optimize the flow of materials, information, and people through the value stream, with the goal of eliminating any interruptions or bottlenecks.
Pull: The pull principle means that production is driven by customer demand, rather than by a push from the producer. This approach ensures that production is aligned with customer needs, minimizing waste and maximizing efficiency.
Perfection: The ultimate goal of Lean management is the pursuit of perfection – the continuous improvement of processes to eliminate waste, increase efficiency, and improve quality.

Benefits of Lean Management

Lean management has several benefits, including:

Improved efficiency: Lean management aims to eliminate waste and optimize processes, which leads to increased efficiency and productivity.
Reduced costs: By eliminating waste and streamlining processes, Lean management can reduce costs, improve profitability, and increase competitiveness.
Improved quality: Lean management aims to improve the quality of products and services by eliminating defects and errors.
Increased customer satisfaction: By focusing on customer needs and eliminating waste, Lean management can improve customer satisfaction and loyalty.
Empowered employees: Lean management promotes a culture of continuous improvement and empowers employees to identify and solve problems.

Conclusion

Lean management is a powerful business strategy that can help organizations reduce waste, increase efficiency, and improve quality. It is based on the principles of continuous improvement, respect for people, and the pursuit of perfection. By focusing on the value that the customer places on a product or service, and by eliminating any steps that do not add value, Lean management can help organizations achieve their goals and remain competitive in today’s fast-paced business environment.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

A way forward: how startups and SMEs can thrive in 2023

Shamus Jayawardena

March 29, 2023

The year 2023 is shaping up to be a challenging year for startups in many industries. One of the most pressing issues is the skilled labor shortage that is affecting companies around the world. This shortage of skilled workers is being driven by a number of factors, including demographic shifts, changing educational systems, and the rapid pace of technological change.

Despite these challenges, there are steps that startups can take to thrive in 2023 and beyond. In this article, we’ll take a look at some of the strategies that successful startups are using to navigate the skilled labor shortage and build thriving businesses.

1. Embrace a remote-first approach

One of the most effective strategies for dealing with the skilled labor shortage is to embrace a remote-first approach to hiring and building a team. This approach allows startups to tap into a global pool of talent and access highly skilled workers who might not be available in their local area. By using video conferencing, collaboration tools, and other remote work technologies, startups can create a highly effective and productive team that is able to work from anywhere in the world.

2. Invest in upskilling and reskilling programs

Another strategy that startups can use to thrive in the face of the skilled labour shortage is to invest in upskilling and reskilling programs for their existing employees. This involves providing training and development opportunities that allow workers to acquire new skills and adapt to changing technologies and business environments. By investing in these programs, startups can create a highly skilled and adaptable workforce that is able to meet the challenges of the future.

3. Build a strong employer brand

In a highly competitive job market, building a strong employer brand is essential for attracting and retaining top talent. This involves creating a company culture that values innovation, collaboration, and learning, and that provides employees with opportunities for growth and development. By building a strong employer brand, startups can differentiate themselves from their competitors and attract the best and brightest workers to their team.

4. Emphasise diversity and inclusion

As the workforce becomes more diverse, startups that prioritise diversity and inclusion will have a competitive advantage in attracting and retaining top talent. This involves creating a workplace that is welcoming and inclusive for workers from all backgrounds, and that values diverse perspectives and experiences. By emphasising diversity and inclusion, startups can create a culture that fosters innovation and creativity, and that is able to attract and retain the best and brightest workers from around the world.

5. Partner with educational institutions

Finally, startups can thrive in the face of the skilled labour shortage by partnering with educational institutions to identify and develop talent. By working with universities, community colleges, and vocational schools, startups can build relationships with students and faculty members who have the skills and knowledge that they need to grow and succeed. This approach can help startups to identify and recruit top talent before they enter the job market, and to provide students with valuable internship and work experience opportunities.

In conclusion, startups that are able to navigate the skilled labour shortage in 2023 will be those that are able to adapt and innovate in response to changing market conditions. By embracing a remote-first approach, investing in upskilling and reskilling programs, building a strong employer brand, emphasising diversity and inclusion, and partnering with educational institutions, startups can build highly skilled and adaptable teams that are able to meet the challenges of the future.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

Big changes to the UK’s R&D tax credit relief incentive in 2023: The Good and the Bad.

Shamus Jayawardena

March 21, 2023

SMEs can currently take advantage of two R&D tax relief programs. These will change starting from April 2023, and long-term plans call for redesigning and overhauling these.

Jeremy Hunt, Chancellor of the Exchequer made this declaration during the Autumn Statement: “I have decided today to cut the deduction rate for the SME scheme to 86% and credit rate to 10%, but increase the rate of the separate R&D Expenditure Credit from 13% to 20%. Despite raising revenue, the OBR has confirmed that these measures have no detrimental impact on the level of R&D investment in the economy. Ahead of the next budget, we will work with industry to understand what further support R&D intensive SMEs may require.”

To put it another way, SME repayable credit claimants will see a significant reduction in financing. However, it should be noted that the net benefit of R&D claims will drop less for profitable SME applicants.

Funding for RDEC claimants, both profitable and loss making, will rise overall. While this benefits big enterprises, it also benefits SME claimants who work on R&D projects with outside contractors and those who receive other types of grant money.

The good news is that cloud computing and dataset expenditures will be added to the list of R&D expenditure categories. This should improve R&D credits for the sector and is especially pertinent to companies in the TMT sectors where these charges might make up a sizable portion of their R&D efforts.
In addition, new Health and Social Care Levies will be included in the qualifying components for R&D staff costs (and payable credit caps), in the same way as national insurance contributions currently do. Finally, R&D in pure mathematics will now qualify for relief and can form part of the qualifying R&D activities of the claimant.

According to the BIA, the SME change is as follows:
“In practice, this means that, under the current proposals, businesses who have made their investment plans based on the SME R&D tax relief providing 33p for every £1 the company itself invests in R&D will instead receive 18.6p for each £1 of in-house R&D they perform and as little as 12p for each £1 of R&D they outsource to universities, hospitals or other companies.”

The bottom line is that the amount of the cash rebate received has been reduced by more than 40%. Although the SME regime will be less generous in the future, it is important to keep in mind that it will continue to offer an additional 86% of enhanced tax relief beginning on April 1, 2023, as well as a repayable tax credit worth up to 18.6p for every £1 of qualifying expenditure, making it still a valuable benefit.

It could be realistic to anticipate some increase in the level of qualifying expenditures to which the new rates will apply if this expenditure relates to qualifying R&D given these factors, together with the effects of inflation on labour costs, consumables, etc.

YTA Blog

A platform bringing you the latest news and insights on staffing, startups and the future of work.

Top 4 challenges faced by startups and SMEs hiring full-time remote staff

Nirmani De Alwis

September 10, 2022

For too long, only large corporations and big businesses have been able to leverage the abundance of skilled professional offshore remote talent based in Asia. Startups and SMEs in the United Kingdom, Europe, and United States have struggled to hire top remote talent due to entry barriers such as the formation of offshore local subsidiary entities, the high cost of outsourcing consultants, and the lack of EOR/PEO service providers servicing this market segment.

Here are the top 4 problems faced by startups and SMEs trying to expand their skilled team capacity and how they can be overcome without spending thousands of dollars on unnecessary things like regional offices, recruitment fees, and consultants.

Problem 1: I’m a small business owner or SME trying to grow my business but struggling to find entry-level support and admin staff to fill roles in areas like HR operations, Executive Assistants, and Customer Support/Oncall Agents.

Solution: Stop wasting time and money on job boards, expensive job ads, and recruitment fees. Hire qualified, experienced remote professionals for roles in HR operations, Executive Assistants, and Customer Support/Oncall Agents for just $3.99/hour. Get Your Team in Asia today.

Problem 2: We are a tech startup having raised pre-seed or seed funding and looking to hire talented app developers and software engineers on a budget but unable to attract talent due to top salaries and benefits offered by competing for big tech.

Solution: Stop wasting time and money on job boards, expensive job ads, and recruitment fees. Outsourcing projects to IT companies are not cheap and mostly ineffective as the focus is on quick delivery to meet minimum requirements. This conflicts with a tech startup’s purpose being to build a great user experience that evolves over time. Most app development projects go well over 6 months, making outsourcing IT very expensive considering market rates of $50/hour for good freelancers. Instead, simply hire qualified, experienced remote professionals for full-time roles in app development, software engineering, web design, database engineering, project management, quality assurance testing, and cloud DevOps for just $9/hour. Get Your Team in Asia today.

Problem 3: The pandemic (COVID), inflation, and the Ukraine crisis have impacted my business, and I need to quickly cut down direct staffing costs if I’m to survive in the current market. How can I run effective operations while reducing staffing costs?

Solution: Don’t sacrifice entire departments with your top performers to meet budget cuts. That’s not smart. Instead, keep your top performers and make them managers of your extended teams in Asia. We have helped businesses move entire departments in the areas of IT, DevOps, Finance, Design, Human Resources, Customer Service, Tech Support, Sales Development BDMs, and Marketing to Asia with direct wage savings of over 40%. Consider a department running at $100,000 per month. That’s over $40,000 of direct savings without impacting team capacity and operational output. If you need to quickly achieve direct wage savings, Get Your Team in Asia today.

Problem 4: I’m a tech startup building a digital product but not sure which technical skill sets we need to have in our team. We need advice on types of app developers and good processes to follow when building a product team.

Solution: It looks like you need a CTO. But most seed and early-stage startups have limited funding, making it difficult to hire an experienced full-time CTO. Make use of our CTO as a Service for just $50/hr to help you figure out the best product development stack and software frameworks, skill profiles required, and job descriptions for the roles you need to build a world-class product team. Great products are built by great teams. Don’t waste hard-earned seed funding on IT consultants and agencies. Hire your own full-time, experienced app development and software engineering experts for just $9/hour.

Your Team in Asia is a full-time remote staffing service for startups and SMEs. Get direct access to thousands of skilled professionals ready to work full-time from home. Save over 40% in direct staffing costs and leave the HR operations to us. YTA’s all-in-one Talent as a Service (TaaS) lets you hire, onboard, and pay individuals or entire teams with one simple monthly payment. YTA also takes care of equipment like laptops, mobile phones, and internet routers. You can also offer super staff benefits, dental, vision, health insurance, E-learning, and many more using YTA’s vetted service partners.

Category: Startups

YTA Blog

Unveiling the Latest Trends in Staff Augmentation: How it Can Impact Businesses in the UK

Trend #1: Remote Work

Trend #2: Specialist Skills

Trend #3: Agile Workforce

Trend #4: Compliance and Regulation

Trend #5: Diversity and Inclusion

YTA Blog

7 Tips for SME Founders: to achieve growth and thrive in today’s business landscape

YTA Blog

4-day workweek : The pros & cons

Pros:

Cons:

YTA Blog

What is Lean Management?

What is Lean Management?

Key Principles of Lean Management

Benefits of Lean Management

Conclusion

YTA Blog

A way forward: how startups and SMEs can thrive in 2023

1. Embrace a remote-first approach

2. Invest in upskilling and reskilling programs

3. Build a strong employer brand

4. Emphasise diversity and inclusion

5. Partner with educational institutions

YTA Blog

Big changes to the UK’s R&D tax credit relief incentive in 2023: The Good and the Bad.

YTA Blog

Top 4 challenges faced by startups and SMEs hiring full-time remote staff

Problem 1: I’m a small business owner or SME trying to grow my business but struggling to find entry-level support and admin staff to fill roles in areas like HR operations, Executive Assistants, and Customer Support/Oncall Agents.

Problem 2: We are a tech startup having raised pre-seed or seed funding and looking to hire talented app developers and software engineers on a budget but unable to attract talent due to top salaries and benefits offered by competing for big tech.

Problem 3: The pandemic (COVID), inflation, and the Ukraine crisis have impacted my business, and I need to quickly cut down direct staffing costs if I’m to survive in the current market. How can I run effective operations while reducing staffing costs?

Problem 4: I’m a tech startup building a digital product but not sure which technical skill sets we need to have in our team. We need advice on types of app developers and good processes to follow when building a product team.

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