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Emerging Trends in Virtual Markets & Workforce Management John Davern, Jr., MBA

Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

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This presentation shows how developments in communication, project management, and other online collaboration tools have made utilizing and managing a virtual workforce/virtual assistants as an increasingly feasible and cost effective solution to addressing workforce talent gaps and hiring needs, from small businesses owners to large organizations. It does not matter if you are working with a team of outsourced individuals working in another country or local employees working from the comforts of their own home. The key to becoming a globally effective leader is how to bring your virtual team together and knowing how to utilize the virtual resources that are available.

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Page 1: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

Emerging Trends in Virtual Markets & Workforce Management

John Davern, Jr., MBA

Page 2: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

The Evolution of Outsourcing

1760 1840

Industrial Revolution

1776In his book “the Wealth of Nations”, Adam Smith laid out the theory of competitive advantage

1830A lot of work was outsourced to

England.

19601970Computer companies began outsourcing their business offshore for processing. Many other types of factory work also began to shift overseas.

1963

Electronic Data Systems (EDS) in Texas turned over its entire data-processing department to Blue Cross of Pennsylvania

1980Widespread development of workstations, PCs and LANs occurred. Word processing, accounting services, payroll and billing started being outsourced all over the world.

1985

The Internet was formed to support a wide community of researchers and developers.

1989

Outsourcing was formally identified as a business strategy. Eastman Kodak outsourced their IT system.

1990

2000

1991

The World Wide Web accelerated outsourcing. Companies began handling core business matters while outsourcing all other operations mainly through the internet

1999 1998 1994

The US negotiated free-trade agreements like NAFTA. As a result, the prices of imported goods became more competitive.

$298.5 billion in global revenues.

BPO boom in countries like India and the Philippines.

20142003 2006 2007 2009

Outsourcing became a $1 billion per year industry.

Crowdsourcing was formed.

2013Virtual Assistants gained popularity because of Tim

Ferris’ book: “the 4 hour work week”

Virtual Assistant Talent was founded

2,637,239 US jobs were outsourced

offshore

Page 3: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

Outsourcing: Facts & Figures

40-50% of the top 500 companies in the world outsource Reasons why companies outsource

Reduce or control costs 44%

Gain access to resources unavailable internally (or locally)

34%

Free up internal resources 31%

Improve business or customer focus

28%

Accelerate company reorganization/transformation

22%

Accelerate project 15%

Gain access to management expertise unavailable internally

15%

Reduce time to market 9%

Offshore Outsourcing by Sector

IT Services; 28%

Finance; 11%

Back

Of-fice &

Customer

Service, 15%

Admin

, 9%

Page 4: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

CommunicationIn the 2014 Global Digital Statistics, Stats & Facts presentation from We Are Social, they revealed the following numbers:

2,484,915,152# of internet users in the world

33.6M of 95MInternet Penetration

(# of Internet users / Philippines Population)

Connectivity of Online Staff

35% of the Philippines population have access to the internet. 80% of all internet connections are broadband-based services.

In the Philippines, broadband internet is now accessible through Cable, DSL, and Fiber. Wireless internet service is also available via 3g, 4g and LTE.

More Filipinos now have access to the latest models of computers as prices of electronics are now more affordable.

The development of web and mobile applications have allowed easier collaboration globally. Below are some of the latest top-rated tools:

Google DriveEssentially Microsoft Office in the cloud. Used to share and collaborate on worksheets, presentations and projects in real time. Also allows you to sync files with your computer for back-up.

DropboxThe quickest and easiest way to share and sync files on the cloud with specific groups and teams.

AsanaFree task manager. Easy to see and update tasks in order of priority and see who’s working on what, keep people updated and generally collaborate in an organized way.

ActiveCollabWeb-based project management utility that also manages time-tracking and billing.

Advancements in Workforce Management

Skype Free to use for chatting & Skype-to-Skype calls. Cost-effective calling plans are available with great features

Google Voice Free. Features: Call Forwarding, Conference Calling, Unlimited calls to any US number and more.

Google HangOutFree. Chat, Video & Voice Calls (upto 10 participants). Unlimited calls to US and Canada with low rates for calls to other countries.

MagicJackFree calls on mobile app to the US and Canada. MagicJack Plus offers 6 months free for the MagicJack phone service. Cost-effective calling plans.

GoToMeetingAllows conference calls to users using a computer, VOIP or phone. Screensharing and video conferencing is also available.

Connectivity Collaboration

Page 5: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

The Global Outsourcing Market is predicted to make an estimated $163 billion this 2014

Outsourcing: 2014 and Beyond

This 2014, oDesk forecasts thatOnline Work Industry Size will grow to $1,716,100,00 as Populations with Access increase to 3,329,667,675

eLance observed a rise in the demand for specialized, particularly in the Creative and Science Technology Engineering and Math (STEM) skills, which grew by 10% in 2013. The top freelance marketplace predicts that we can expect similar increases in 2014.

Page 6: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

Where does Online Work go from here?Futurists describe the evolution of work

“It will be difficult to distinguish online workers from traditional employees.”- Jeremiah Owyangv, Chief Catalyst/Founder of Crowd Companies (Silicon Valley)

“Work is no longer a place. Future teams will be flexible and results-focused. This creates more economic opportunity for both businesses that need to get

more done, and professionals who want to be untethered from a desk.”- Gary Swart, CEO of oDesk

“Millenials will be 75% of the workforce by 2025. They see no need to be confined to a corporate office, view the future of work as virtual, and want

freedom and flexibility to work anywhere and anytime they please.”- Dan Schawbel, Managing Partner of Millennial Branding LLC

Page 7: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

VAT – Connecting the Virtual Workforce and Businesses

The advancements in technology has paved the way to building better connections everywhere. And at VAT, we believe that the relationships that we form through these connections is the most important component of our business.

VirtualAssistantTalent.com

Page 8: Emerging Trends in Virtual Markets & Workforce Management - Utilizing Virtual Assistants to Fill Talent Gaps

For Questions and Additional Information:

John Davern, President & CEOVirtual Assistant Talent, LLC

3984 Washington Blvd, Ste. 110Fremont, CA 94538

Office: 510-400-8006Toll-Free: 1-866-596-9041

Email: [email protected]

LinkedIn.com/in/johnpdavernFacebook.com/hirevirtualassistant

Twitter.com/hire_a_virtual

VirtualAssistantTalent.com