LaborX: The Year Ahead

LaborX: The Year Ahead

If you read our last blog, you’ll know that 2023 was a big year for LaborX. We don’t plan to rest on our laurels, though! We have a clear strategy for 2024 and some big plans coming up for the next 12 months. Here are the highlights…

Capitalising On Existing User Base And Technology

2023 saw 80,000 new talents sign up for LaborX, and around 5,000 customers. It’s clear that there is huge demand for freelance Web3 work.

One of our key priorities is now to increase the number of job listings published by companies and other organisations in the blockchain and crypto industries. (You can read more about one of the ways we plan to do this below.)

Alongside that, we’re aiming to expand our database of qualified talents – ensuring that we not only offer employers the quality they need, but the quantity of candidates to give them a choice and foster healthy competition for the best roles.

Making Life Easier For Employers

The rise of AI has enabled us to consider new features that were previously impossible to build. We are looking at developing a talent selection system, and implementing professional scoring. When a job has dozens or even hundreds of applicants (as we have found for some of the most popular opportunities), it’s impractical for an employer to wade through them all and select the best person for the job. However, this is one of the areas in which AI excels. Instead of wasting hours looking through candidates (many of whom will be unsuitable), we can deliver a short list of the best applicants – not only saving time and money in the recruitment process, but ensuring that the right candidate is matched with the job.

Another great use case for AI is in our customer support and HR processes. Keep an eye out for developments in this area too!

Additional Tools

While a large percentage of Web3 work takes places remotely, there are occasions when both employers and candidates will prefer to look for someone in a given geographic area. LaborX will soon feature new job listing pages for specific countries and cities.

Another idea we are currently exploring is the idea of allowing companies to pay salaries in crypto on a continuous basis. The idea of a monthly or bi-weekly salary is a legacy of the days when payments were made manually and every payday entailed a significant overhead of time and effort for the company.

In the Web3 era, it’s possible to set up a smart contract that streams payments on an ongoing basis, meaning that employees can claim their pay for hours they have worked right up to the present – a far more equal way of organising compensation for work completed.

Rock Stars

One of the stand-out successes for LaborX this year has been our 'Rock Stars' campaign. As we explained in the previous blog, this is a marketing initiative designed to bring on board landmark Web3 employers, providing talent to them and gaining exposure from our association with them in the process.

While Rock Stars started out as an experiment, it has far exceeded our initial expectations. Following the success of Q4 2023, the next step is to scale its impact. We now intend to build on the solid foundation laid by the trial, extending LaborX’s reach to more of these critical tier-1 companies. This will involve integrating with key platforms, and fostering a thriving community across the different organisations involved.

We hope you’re as excited as we are about the possibilities that 2024 holds. All that remains is to wish you a happy new year!

With best wishes,

The LaborX team