Remote Value Realization

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It is not enough to fly the flag of remote work or chant the adoption and synchronization of this work model in our workplace, it is also pertinent to measure the value it adds to an organization against the conventional values and/or perceived value from other organizations. There have been suggestions that the remote work model is not "one size fits it all". Some analyses have shown that though this model is commendable, there are conditions to it that hinder its adoption in some workspaces and industries. This is not arguable as some industries and workspaces have not technologically progressed to a point where remote work can easily come in for all roles. Hopefully, that is where AI fits it. However, due to doubts that may arise in determining the value remote work provides in some industries, it is necessary to employ remote value realization to fully understand the way this model reshapes each workspace to boost productivity.

What is Remote Value Realization

Remote Value Realization is the process of measuring the impact and direct influence of the adoption of the remote work model on executive-level business objectives. By tracking the overall value (monetary and otherwise) an organization receives from adopting a remote work model, adequate metrics will be formed to measure its impact on the acquisition, operations, deployment, scaling, reengineering, and growth. The alignment of the impact of this work model with the organizational objectives and goals, fast-tracks the decision of the organization to holistically revamp the workspace by establishing a trust line of actions that streamline the modus operandi of this model to suit the financial insight of the organization.

Bordering on the parent term ‘Value Realization’, remote value realization is a highly efficient method to understand outcomes that are achieved from this work model in terms of quantitative metrics like ROI, work done per time, percentage improvement, lower operation cost, and time reduced; and qualitative metrics like customer satisfaction, improvement of organization’s brand image, quotes, and testimonials. These metrics can be analyzed holistically to redefine expectations during remote talent acquisition.

Significance of Value Realization to Remote Workspace

Remote talent can be acquired either through direct talent acquisition by the organization or by outsourcing the acquisition process to B2B firms such as Turing and others who have sufficient manpower to ensure that the expected value is realized. Each of these pathways still demands value review to optimize the acquisition process, understand which model best suits the organization, and initiate measures to eliminate shortcomings. In the acquisition of remote talent, remote value realization helps an organization understand the value and streamline its acquisition process to ensure that work efficiency is attained.

For example, for top B2B companies like Jonathan Siddharth’s Turing, which provides companies with well-vetted engineering team members, it is necessary to track and regularly inquire about the value realization of the workforce. The assessment of their talent pool and its result, is a crucial component of value realization as it allows them to determine outcomes (successes, failures, or drawbacks) of each acquisition cycle and determine where there is a need for improvement. This assessment allows Turing to understand and adopt more effective value realization methodologies which affect subsequent lines of action. It also aids them to:

• Gain knowledge of a prospective client’s expectation
• Establish credibility as a trusted talent provider
• Grow their brand and relevance in different industries
• Help organizations build a formidable workforce
• Develop essential metrics to justify the expansion and adoption of a remote workforce

Value Realization Cycle

Value realization is a closed-loop cycle in these B2B companies that handle remote talent acquisition. This cycle allows the companies to accurately and regularly update their solutions to fit clients’ needs and maintain their satisfaction with the services provided. Although the need and expected value might change over time to reflect technology demand and market reaction, a well-organized value realization cycle helps these B2B companies to stay relevant across all market seasons. The five steps in the cycle are:

• Value Definition: Defining and synchronizing the metrics by which clients measure success and the metrics of the value provided

• Value Delivery: Providing the value promised and/or the value expected

• Value Realization: When the client realizes the quantitative and qualitative impact of the service received

• Value Validation: Confirm with the client that they have received the expected value from the service

• Value Optimization: Improving the value the client receives, exceeding their expectations, and building their loyalty to your business

  
  

Apart from B2B firms providing remote talents to other organizations, organizations directly employing this workforce get valuable insight from value assessment as it provides the opportunity to learn from failures and shortcomings as well. An in-depth analysis and investigation of why there were failures and shortcomings in an adoption cycle help to give as much detail as possible, on what action might have been done differently to achieve a better outcome.

Although different companies adopt different time bases, value reviews should be done at least quarterly by key stakeholders and technical staff of the organization. The focus of these reviews would be on creating a conversation around the Expected Value versus Actual Value realized from inception till date, while also collecting feedback from the customer regarding products and services offered by the remote workforce. Following the assessment, the results will be evaluated to recommend appropriate corrective actions or opportunities for value expansion.

Remote Value Realization Metrics

When discussing remote value realization metrics, it is regarded as best practice to build value realization metrics or key performance indicators (KPIs) that can map out the outcome in each stage of work; thus, making it easier to track performance at every designated interval. Mapping out clear metrics, including benchmarks, expected deliverables, deadlines, and performance indicators also make it easy to assess where performance is better and to plan for improvement at each stage of the journey.

For a B2B company handling talent acquisition, the team should be able to work with prospective clients to understand their needs, sell them optimum service value, and promise them specific results. The negotiation period is the perfect time to map out with the potential customers the metrics and KPIs that you should prioritize. Four essential points that should be agreed on during the negotiation period include;

• Key milestones the client wants to achieve through the acquired remote talent
• ‌Basis of a successful implementation of the services
• ‌How the clients define successful performance
• ‌What component of the service considered is given more preference

Conclusion

Value proposition, delivery, and offers are stages of a business proposal that demand scrutiny. In some cases, there are usually disparities in these three elements due to several reasons. However, proper value review for remote talent illuminates the grey areas found in these elements and offers an optimum solution to boost productivity.