Flexible work hours: This is a growing necessity in this day and age. Employers need to allow for flexibility in work day schedules to allow for work-life balance to avoid burnout.
When it comes to designing the future of work, one size fits none. Discovering success isn’t about a hybrid model or offering remote work options. Individuals and organizations are looking for more freedom. The freedom to choose the work model that makes the most sense. The freedom to choose their own values. And the freedom to pursue what matters most. We reached out to successful leaders and thought leaders across all industries to glean their insights and predictions about how to create a future that works.
As a part of our interview series called “How Employers and Employees are Reworking Work Together,” we had the pleasure to interview Ty Smith.
Ty is the Founder and CEO of Coinbound, the leading Web3 marketing agency. He has been passionate about and investing in the crypto Space for a number of years. With his determination and strong belief in the power of Crypto, he’s achieved significant accolades in this nascent industry. Coinbound was built specifically to help crypto brands grow, and Ty has successfully led his team in working with some of the biggest names in the crypto space: MetaMask, eToro, Nexo, Voyager, Cosmos, ShapeShift, and OKCoin. He not only bootstrapped Coinbound to become a 7-figure agency, but Ty is also the host of The Cryptocurrency Marketing Show with 50k+ monthly listeners and has 20k+ followers on Twitter.
Thank you for making time to visit with us about the topic of our time. Let’s zoom out. What do you predict will be the same about work, the workforce and the workplace 10–15 years from now? What do you predict will be different?
I feel as though a lot of business practices will stay relatively similar, but the major difference will be the shift towards mainly remote tems. Any business that can function remotely will do so. It will make financial and human sense to do so.
What advice would you offer to employers who want to future-proof their organizations?
My biggest piece of advice here would be to go remote where possible to expand your geographic preference for employees beyond your local area. The most talented people might be in a different part of the country or world. Hire the best people for open roles, regardless of theirlocation. This is key in building a diverse team that is the most qualified to get the job done above expectations.
What do you predict will be the biggest gaps between what employers are willing to offer and what employees expect as we move forward? And what strategies would you offer about how to reconcile those gaps?
I believe that employees will be and should be expecting more from their employers. COVID-19 among many other things has made working even more difficult for most employees, and employers should attempt to do what they can to ensure their employees are provided a livable wage for coming in every day and giving their all. This means taking into account where the role is located, travel expectations, reimbursement for medical expenses, PTO frameworks, and so much more.
We simultaneously joined a global experiment together last year called “Working From Home.” How will this experience influence the future of work?
My team is fully remote currently, and though it is radically different from work in an office, it really provides so much flexibility to my team and myself. I believe this flexibility is key to the future of work. As long as you have a strong team of accountable individuals, remote work can yield incredibly high morale and true ability to achieve work-life balance.
A huge aspect of remote work many overlook is how isolating it can be for new team members or really any team member at the beginning of working remote. I have found it incredibly important to set weekly meetings both with my entire team as well as with each of my departments to ensure room for fluid communication. Little things like asking your team to keep their camera on during video calls can go a long way in building stronger relationships.
We’ve all read the headlines about how the pandemic reshaped the workforce. What societal changes do you foresee as necessary to support a future of work that works for everyone?
Optional Job Location: I believe it will be key for employers to offer other means of fulfilling roles than solely being in office. What I mean by this is employers should be creating systems that allow for employees to choose to be Remote, Hybrid, and In-Office Fully for every role they can. COVID has truly illustrated that remote and hybrid work is not only a money saver for employers, but also provides employees with much-needed flexibility.
What is your greatest source of optimism about the future of work?
Remote work is here to stay and, with it, is better work-life balance as the freedom to live and work anywhere.
Our collective mental health and wellbeing are now considered collateral as we consider the future of work. What innovative strategies do you see employers offering to help improve and optimize their employee’s mental health and wellbeing?
I think unlimited PTO is a great trend that’s currently taking place and will be a strong attracting factor to employers willing to offer it. Also, its important for employers to understand that not everyone functions mentally well in a remote workplace. Compassion and understanding go a long way in getting the most out of your team and avoiding burnout.
It seems like there’s a new headline every day. ‘The Great Resignation’. ‘The Great Reconfiguration’. And now the ‘Great Reevaluation’. What are the most important messages leaders need to hear from these headlines? How do company cultures need to evolve?
Company leaders need to understand that the newer generation of workers views the world from a more individualistic perspective than previous generations. They should put a premium on offering benefits, works schedules, and roads to promotion that reflect the mindset of younger people.
Let’s get more specific. What are your “Top 5 Trends To Track In the Future of Work?”
- Remote work: I see remote work as key to the future of work for an array of reasons. I believe it has been proven vital in the past few years, and the shift in the workforce will not be going back to the way it was. I’m confident remote workforces are the key to maintaining an engaged and refreshed team.
- Unlimited PTO: Life happens, and many employees are stuck between a financial hardship and taking personal time for family, mental health, physical health, etc. PTO offers flexibility so employees can take time for themselves and come back ready and able to hit the ground running.
- Learning, education, and self-development budgets: Knowledge is power. And there is a growing conseneous among executives and staff alike, that furthering education should be a paid expense of the company. In my opinion, if an employee would like to set aside time outside of work hours to further their industry knowledge and expertise, why woldn’t I help them out and pay for their course/certification? Ultimately, they will be gaining knowledge that will help them do their job better, and the ROI there is clear.
- Accepting cryptocurrencies as a form of payment: Accepting crypto for biweekly pay is growing in popularity. Some are fully being paid in crypto, and many more have chosen to get a set fraction of their pay in crypto and the rest in fiat. I see many more people shifting to this form of payment in the near future.
- Flexible work hours: This is a growing necessity in this day and age. Employers need to allow for flexibility in work day schedules to allow for work-life balance to avoid burnout.
I keep quotes on my desk and on scraps of paper to stay inspired. What’s your favorite “Life Lesson Quote”? And how has this quote shaped your perspective?
“Success isn’t owned. It’s leased. And rent is due everyday” — J.J. Watt
This quote reminds me that complacency can kill and to be the best you need to be looking to improve every single day.
We are very blessed that some of the biggest names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US, with whom you would love to have a private breakfast or lunch, and why? He, she, or they might just see this if we tag them.
Brain Halligan (Founder of HubSpot). HubSpot is a company I really admire and I’d love to understand the mindset it took to build something so powerful.
Our readers often like to continue the conversation with our featured interviewees. How can they best connect with you and stay current on what you’re discovering?
Reach out to Coinbound: coinbound.io
You can connect with me on Twitter @TyDanielSmith!
Find ‘Coinbound’s Crypto Marketing Show’ on YouTube, Spotify, Apple Podcasts, and more!
Thank you for sharing your insights and predictions. We appreciate the gift of your time and wish you continued success and good health.