A couple of days ago a huge fight started taking place between a relatively small group of Gen-Z investors in a Reddit group named r/wallstreetbets and a multi-billion dollar hedge fund named Melvin Capital. Led by a single person using u/DeepFuckingValue AKA “the king” who made 22 million dollars by investing only approx $57K.
Let me drop a few notes for you while I believe in your good intentions...
1- You are not testing candidates, this means vast majority of your hiring decisions are based on either resumes or interviews. You can't scale your hiring process without objective test results. You are not fully leveraging remote working if you are not testing rigorously.
2- You are not covering the 'trust' element of remote work, I'd suggest you start using a time tracking tool for yourself first, then start using it with your colleagues. You'll be surprised by the number of optimization opportunities.
3- Hiring people without testing and expecting them to perform great is not really remote working. Without productivity data, you don't have much to optimize. My personal model is identifying rockstars, turning their business behavior into model calendars and running a compliance program for increasing the average team performance in any team.
4- You missed the firing part, how do you handle that?
Hey buddy, you flagged my post due to my twitter account having a bad link, I guess twitter link shortener got hacked, my website is not scam, can you please unflag here? sinanata.com is my personal website and HN post here: https://news.ycombinator.com/item?id=21934495
You may want to do your own research, not random companies. This gov support model has proven successful with defense companies in TR, they're moving it to the mobility industry for the first time.
I believe Elon Musk deserves credit for inspiring people thousands of miles away.
-Over 100K guaranteed sales
-Free land allocation for 1M m2
-100% tax cut
-Massive interest rate cut for financing
-2 SUVs and 1 Sedan in 2022
-Concept designs were made by
Pininfarina
Agreed and when you pay them better, in time, more and more highly skilled individuals from these markets are going to join your remote organizations. I think it's a healthy and fair competition.
This is happening as we speak, in the past couple of years, I've visited Poland, Russia, Ukraine, Egypt, Brazil, and Turkey for meeting with senior software engineers primarily.
In Ukraine for example, knowledge workers working remotely for US and Western European companies are actually one of the highest-earning social groups. Same for Egypt, Brazil, Russia, and Turkey. Local economies are benefiting from the USD flow and more importantly, the knowledge/experience flow.
I genuinely believe that there's no such thing as "engineers/designers/etc from X country is better than Y". There are only skilled individuals and the competition for hiring them will be brutal in the next 5 years.
Five years ago, it was almost impossible to find a great software engineer from emerging markets for a remote position. They were literally asking "are you guys some sort of Nigerian scam?" People started to believe that working remotely is actually possible and paying much better than their shitty local average.
I must say, I really enjoy your smart questions, thanks for the great convo buddy.
Short answer: Pay-rate should be decided based on actual skills, not zip code.
Long answer: I'm looking at it from a different perspective, why people have to live in SF? The cloud-wages concept is mostly applicable for knowledge workers, I agree, and it's a limitation. Pay-rates should be decided based on objective test results and skills. I strongly object to the "vanishingly thin" part. For setting the average, I think market dynamics will do its job and find a range that is lower than insane SF rates but still super attractive for people who happened to live outside of the US and capable of getting the job done.