The War for Talent: Who Will Survive?
“Great companies are formed by great people.” ― Ziad K. Abdelnour
Having worked for over 10 years in the IT industry, we can say with a high degree of certainty that the crux of a company’s success is attributed directly to the talents and skills of employees. The IT industry remains one of the most innovative of fields and brings together the brightest minds of today’s global economy.
According to one of the largest job search engines, Monster.com, the software developer job holds a top position among the 25 fastest-growing job titles for 2016. In fact, the demand for software developers is exponentially growing every year. In 2015 alone, the number of software engineering jobs has grown by 62,300 which indicate a 12 percent growth compared to the previous year.
The Demand for Software Developers Is Increasing Every Year
The demand for software engineers is so high that sometimes securing the right candidate can resemble a battleground for talent. In this battle, without a good strategy and tactics, you are practically doomed for failure. The goal of every participant of this war is to attract and retain the best IT talents and increase their company’s revenue.
In such conditions, a company simply has no leeway to make a mistake as their competitors already employ all sorts of tricks to get hold of the best specialists. Offices equipped with gyms, meditation rooms and other over-the-top perks. Giants like Apple and Facebook, for example, pay an impressive compensation as “baby cash”. Deloitte and Salesforce assist in finding caretakers for employees’ aging parents. Expensify sends its employees to work abroad one month a year with their loved ones. This is just a minuscule portion of all the perks offered to attract and retain talents.
So how can a small or even mid-sized company compete for highly-skilled specialists with the monsters like Google, Apple, Facebook, or LinkedIn? It seems an arduous or practically impossible task. Not every company has the resources to allocate funds for time-consuming recruiting and include similar generous benefits also.
You need another solution and that means you need to choose an alternative strategy and ensure fiscal survival. In the competitive struggle to keep pace in the market of software development, companies are thinking out of the box and looking for the most optimal and cost effective options for growing businesses.
Choose Your Own Strategy and Tactics to Make Survival Possible
One such option to win the war is to explore alternative countries with access to top quality talents while minimizing expenses. CEE countries can be an ideal destination to achieve such goals owing to a solid math, science and engineering knowledge base with thousands of young graduates entering the job market annually. That’s why Ukraine, Belarus and Russia provide an ideal environment for companies to cut down on their expenses and achieve great results by obtaining skillful IT talents.
CEE Countries Are Ideal Destinations for Their Solid Math and Engineering Knowledge Base
Positive examples can be found in such prominent figures as Vladimir Zworykin, the father of television, and Igor Sikorsky who created the first successful helicopter and originally came from the CEE region. They are widely known in the US as their inventions changed the world irrevocably. What if someone of their caliber were available for your company? And eager to implement your ideas transforming your company into an industry leader?
Venturing on such a strategic move, you can engage in two possible modes of cooperation: outsourcing tasks using a project-based approach or hiring dedicated developers to function like an extension of your own team.
If you require short-term partnerships, you can hire developers to write the code for you. You pay the agreed amount for the produced result and the collaboration culminates there. You get the desired result promptly and with little fuss.
However, if you are focused on your company’s growth and cultivating your teams’ skill set, you can turn to Outstaffing. Namely, the Dedicated Development Team service. With this approach, you get remote employees who work as an integral part of your in-house software development team. They report directly to your Project Manager and you. In this case, arrangement of your remote office, the search for employees, and team building is the responsibility of your Outstaffing provider.
It is convenient to know precisely how much is spent on payroll for each of your developers. The Dedicated Development Team allows a reduction of development costs by up to 50% compared to the same scenario in the United States. After working in this way, you may want to invite your most prominent remote developers to work in your local office. So you expand your own team, making it much more cost-efficient than at home.
Get Remote Employees to Play an Integral Part of Your In-House Software Development Team
Taking this strategic course brings you a real chance to win the war for talent. You receive the following trump cards up your sleeve:
- Much lower competition for talent in CEE countries;
- Most developers prefer to work directly for the customer in product-based companies as they want to create a quality product and feel their contribution;
- You can increase your attractiveness as an employer by offering, for example, a salary just 20% higher than in the CEE local market. At the same time, the cost of such development will be 2 times cheaper than your in-house development.
A Strategic Course That Offers a Chance to Win the War for Talent
In the global market landscape of increasing demand for skilled developers, the “war for talent” becomes everyday reality. It is necessary to find a viable solution. When competition in the local market is too saturated, you can focus attention on the countries renown for excellent mathematical institutions and talented developers. Later you can relocate your developers or use Dedicated Development Teams and get a highly professional remote team working as a full-fledged part of your local team.
So What’s Your Tactic to Win This War for Talent?
Originally published at avicoma.com .