The business sector was already going through an IT talent crunch. The pandemic has only worsened the situation. According to recent research from Korn Ferry, there would be 85 million jobs to be filled by the end of 2030 because of a lack of skilled workforce. The reason for the short supply of developers and technical skills is partly due to the proliferation of new technology such as mobile computing, blockchain technology, etc, and solely because of the inability of educational institutes to produce highly skilled tech graduates to cope with recent tech talent shortage.
Nearly every organization is facing a software developer shortage and it’s a huge challenge for businesses to overcome it and stay afloat. In these challenging times, businesses need to think out of the box to improve their hiring strategy to maximize the chance of attracting and retaining developers and technical experts. Because no matter how advanced the technology is, the IT sector cannot function without skilled human resources. In this blog, we will discuss ways through with businesses can overcome the tech talent shortage wisely.
1. Go For An Offshore Team
Offshore outsourcing is one of the best strategies to deal with the tech talent shortage. You can outsource IT services to a distant location to benefit from it. You’ll have lower labor costs with quality work. In addition, you can get the advantage of the tax system in the outsourcing location too and save money.
Moreover, hiring a software development team will save time for in-house employees to work on other important business tasks that need your dire attention. You will save a lot of time, effort, and money as you do not have to go through a lengthy recruitment process. The outsourced software development team provider will do the job for you by getting you a team of experts who are the best at what they do.
Outsourcing a team is budget-friendly too because they don’t come with any hidden charges. Instead, there’s a fixed budget for their services for a fixed period of time. You don’t have to pay them extra to keep them dedicated. In addition, they are trained experts who are equipped with the specialized programming tools you require for each project to give you nothing but the best to boost your business.
2. Hire Freelancers To Tackle Tech Talent Shortage
Hiring freelancers is another go-to option to deal with tech talent shortages. This can keep your business afloat temporarily and reduce the workload. You can search for the right developer on freelancing websites, where they have mentioned their experiences and profess expertise. You can easily hire them just like you hire for your own office.
Freelancers are always in search of working for businesses as it gives them more exposure and adds to their experience as well. In addition, hiring freelancers is light on the budget and you can get quality services as well to cope with the tech talent shortage.
3. Go For IT Outstaffing Model
Businesses prefer to go for an IT outstaffing model in which they hire tech talent from remote locations because it is more cost-effective than outsourcing. In addition, they don’t have to invest in IT infrastructure and additional expenses related to in-house spendings such as medical insurances, tax payments, etc which leads to overall reduced labor costs.
Moreover, businesses can speed up their product’s time to market by extending their in-house team with outstaffing specialists. It allows in-house teams to meet deadlines faster and accomplish the daily, monthly, and yearly goals accordingly.