The remote work era has shifted how companies work, ushering in contractual hiring as the new norm.
As Runar Reistrup, CEO of YunoJuno, explains, “Companies will find it essential and extremely beneficial to have easy access to a highly-skilled, flexible workforce” in the current business environment.
While full-time employees remain the cornerstone of organizations, contractual hiring helps reduce the time to hire and associated costs. With growing recognition of the benefits of a flexible workforce and changes brought on by AI, Runar shares his perspective on running a contractual hiring company and how it is shaping the future of work.
This interview is part of G2’s Professional Spotlight series. For more content like this, subscribe to G2 Tea, a newsletter with SaaS-y news and entertainment.
What's your favorite beverage? It's boring. It's water out of the tap in the Faroe Islands. My family comes from there, and that, to me, is my favorite beverage. I would import it to London every day.
What problems at work make you want to throw your laptop out the window? I try not to get to that emotional state, but I firmly believe that if you get to that state of mind, it's time to look inwards. If everything around you frustrates you, maybe it's time to rest, take a little walk, swim, or whatever. So yes, whenever I get the sense that everything is going wrong today, I typically look inward and say, okay, let's see what we can do here.
What was your first job? I haven't actually had many jobs, but my first entrepreneurial endeavor was starting a car-washing service, beginning with my grandmother's car and gradually extending to every family member's vehicle. I would organize these weekend projects where everyone brought their cars for a wash. That was my initial foray into work.
I never had a proper job until I was 18. My first job was at a printing press, working on a newspaper. But I believe the entrepreneurial spirit has always been a part of me.
What's your favorite software in your current tech stack? There are countless software tools available, but I gravitate towards those that are incredibly versatile. For me, that tool is the spreadsheet. Whether it's Excel or Google Sheets, I often find myself starting my projects there. While I wouldn't call myself an expert, the limitless possibilities these tools offer make them indispensable to me.
Tanushree Verma: Can you share a bit about your background and what initially inspired you to join YunoJuno?
Runar Reistrup: I've spent most of my career building companies, and through this journey, I've discovered what truly inspires me—fostering entrepreneurship within a large community. So, I spent quite some time building a company called Depop. Depop enabled young people to embark on their first entrepreneurial ventures, often from their own bedrooms and with whatever skills they had, despite lacking formal training.
Witnessing Gen Z’s entrepreneurial spirit has been incredibly inspiring. This generation is hardwired to run their own mini-businesses rather than fit into traditional job roles. This insight aligns perfectly with my encounter with YunoJuno, a community-driven company dedicated to empowering freelancers and contractors.
I saw an opportunity to make a difference and make it big, and I grabbed onto it. The vision is to create a seamless experience for those in need of specialized work and the skilled professionals available to provide it. Platforms like YunoJuno and the advancements in AI are set to make these processes efficient, ensuring that the focus remains on the work itself rather than the complex processes surrounding it.
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What is a piece of advice you wish you had received when you first started out? And how did that change your approach?
When I started out, there was a lot of noise, in terms of advice, surrounding me. However, I was very lucky that I worked for good people at the beginning of my career.
I think one of the earliest pieces of advice that I really took on board was:
“Let's go over and beyond and not just the minimum required.”
Runar Reistrup
CEO of YunoJuno
Many people get by in the schooling system by doing the minimum required to achieve good grades. However, in the workplace, it's not about that. It's about what you can grow into. I know it sounds a bit stressful, but it makes everything much more enjoyable.
So, I always encourage people to do their best work when they enter the workforce. By doing so, you will not only find your work life more enjoyable but also improve your skills rapidly.
It boils down to this: Working for yourself means taking ownership-by doing so, you’re also working for the company and the team.
What are some of the key lessons from your experience at Depop that you continue to apply at YunoJuno?
The core lesson from my experience at Depop was that if you build something fundamentally better, it will be embraced.
When I first analyzed Depop, I saw that buying and selling items online or on mobile had hundreds of existing avenues. So, what was the need for another one? The answer lay in the next generation's desire for a superior mobile and social experience tailored to buying and selling items they cared deeply about, like fashion.
By listening carefully to this demographic, we built a platform like Depop that met their unique needs.
Similarly, managing and finding contractors has been around for decades, if not longer. What sets YunoJuno apart is our approach to doing this far better by aligning closely with what people want in their current processes.
This requires what I call "10x thinking" — not just minor improvements but creating something fundamentally different. This was the key to Depop's success, delivering a profoundly distinct experience. It’s the same philosophy guiding YunoJuno even before I joined.
So, one of the important lessons I learned is gaining a very deep understanding of what is important to a freelancer and what's important to a hiring manager and then bringing those two together.
Can you share some of the most significant innovations YunoJuno has introduced under your leadership and what your biggest challenges have been throughout?
The biggest innovation was not driven by us but by world events like the COVID-19 pandemic, which led to a rise in remote work. This change in the global labor market provided ubiquitous access to talent. For contractors, freelancers, and companies like ours, this shift prompted an immediate change in mindset.
“Companies realized they could tap into skills beyond the traditional 25-mile radius, which drastically altered the landscape for both businesses and us."
Runar Reistrup
CEO of YunoJuno
We transitioned from being a UK market leader to aiming for global market leadership. This required substantial changes, from navigating the regulations and cultural differences among 150 jurisdictions to ensuring compliance across countries, each with its own set of rules.
Under my leadership, this transition has been the most profound change. Although it might not fit the traditional definition of innovation, the impact of embracing remote work and expanding globally was a big step for us.
Given YunoJuno's impressive global expansion into over 150 countries last year, what are your strategic goals and plans for the upcoming year?
Our plan is to achieve global market leadership. We believe our platform can significantly and positively impact companies needing to get work done in an ever-changing environment, especially for individuals who prefer working as independent contractors.
Our goal is for YunoJuno to become synonymous with the use and management of flexible talent, the way Airbnb is synonymous with travel and home-sharing.
We envision a future where YunoJuno is the go-to platform for engaging flexible talent globally, revolutionizing the way contractors connect with their clients.
As YunoJuno sets its sights on becoming a leader, it's important to consider the broader industry's approach to talent acquisition. How should marketing leaders approach the dilemma of in-housing hiring versus outsourcing in the current economic climate?
The uncertainty of what skills you need and where the economy is going will favor a more flexible approach to talent and getting work done.
These rapid changes underscore the need for agility. Having a strong base of highly committed employees with a broad range of skills is essential. This allows companies to avoid overextending their employees into areas where they may not excel, leveraging their primary strengths instead.
In marketing, a team of 15 or even 50 people cannot possibly cover all necessary skills.
“Marketing is not what it used to be; it requires a constant evolution of skill sets over time.”
Runar Reistrup
CEO of YunoJuno
We see the sector leading the shift toward freelance talent due to its wide-ranging skill requirements. Companies will benefit from having a core team that is deeply knowledgeable and can collaborate effectively with external, flexible experts.
Do you think contractual hiring will be the future of the HR tech space?
I think it's going to always be a bit of everything. Full-time employment isn't going away. At YunoJuno, we have a substantial number of full-time employees who remain our core strength.
However, as companies and the business environment change, the need for easy access to a highly-skilled, adaptable workforce will grow.
To me, a flexible workforce means individuals who transition from one project to another, often across different companies. For instance, someone might work on a project with us and then take on a project with another company, only to return when we need that skill set again. This flexibility allows them to continually develop new skills, thanks to their exposure to diverse environments.
One thing that freelancers are very good at is keeping up with new skills. Because they work in such diverse environments, they bring something different to a company. However, they don't replace the core capabilities of a full-time workforce, which remains essential for any business.
Successful and innovative companies will increasingly rely on this combination of full-time employees and a flexible workforce. The contract and freelance workers sectors are already becoming significant parts of the workforce, and this trend is likely to continue. This shift is driven by the new generation of highly skilled professionals who prefer non-traditional, flexible career paths over linear ones.
It’s a change coming from both sides, reflecting what the world needs today.
How do you envision the future of the gig economy, especially with AI entering this space? Do you think AI will change freelancing and contractual hiring?
I think it definitely will.
We are already seeing companies facing uncertainty about the future, particularly with the rapid advancements of AI. Rather than hiring a traditional workforce for the next challenge, many are now tapping into a flexible workforce to remain agile. This allows them to quickly adjust if AI shifts the market dynamics.
This shift is significantly affecting companies and their strategic planning cycles; what used to be long-term forecasting has now shortened dramatically. The allure of a flexible workforce has become strategically vital.
The impact is already evident for freelancers and contractors. They are often the first to adapt to any changes, especially when leveraging AI. In some sectors, specialists are now expected to integrate AI into their work because their performance is judged on output, not tenure.
Using the best tools available is crucial for maintaining high-quality results. In areas such as design, development, and content creation, AI has seamlessly integrated into the workflow, replacing tasks that were previously outsourced. However, in more specialized and strategic fields where highly skilled contractors are brought in, AI hasn't replaced these roles but has rather augmented their capabilities.
The reality is that contractors must stay current with AI tools to maintain their competitive edge. They usually seek new roles every few weeks, compared to the longer cycles for traditional employees. This continuous adaptation makes them invaluable assets in today's fast-evolving market.
How are you using AI to enhance YunoJuno, and are there any specific AI technologies that you're using?
We're using AI in almost all operation layers at this point. AI tools have been integrated throughout our development, marketing, and sales processes. Within our platform, we've focused significantly on automating elements related to company and contractor interactions that are non-differentiating, such as compliance and payments, to ensure everything runs smoothly and on time.
Optimizing the match between employers and freelancers is a particularly crucial part of our work. AI's role is pivotal here, not just in responding to current needs but also in predicting future requirements.
For example, if a client is hiring a product designer today, AI can anticipate upcoming needs for roles like project managers, engineers, UX managers, and content writers based on hiring patterns and behaviors.
Looking back on your journey with YunoJuno, what has been the most rewarding aspect of your role as CEO? Is there anything you wish you had done differently?
The most rewarding aspect of my work is deeply personal: it's the experience of building a team.
Creating a 10x experience is incredibly fulfilling. Bringing together a group of talented individuals and transforming them into an amazing, cohesive unit is a powerful process. When a small team achieves extraordinary results, it often leaves me in awe of how much can be accomplished with limited resources. This is what fuels my passion for company building.
It's important to recognize your mistakes and what you might have done differently. We make a lot of mistakes, but in a way, mistakes are part of the journey. Encouraging our team to step outside their comfort zones inevitably leads to errors. However, the lessons they teach are invaluable. They shape our culture and contribute to the end product.
So, there isn't much I would wish to change, as the scars from these experiences are part of our success story.
Follow Runar Reistrup on LinkedIn to keep tabs on the latest trends in the contractual hiring world.
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