The average organization is 90% supported by software. This means the vast majority of a business depends on software to operate. It stands to reason that a huge portion of your workforce would then be software support. However, as of 2020, there were over 1.4 million unfilled computer services jobs. This is because the supply can’t currently meet the demand- the number of graduates is currently at only 400K a year, well below the level needed to fill all the empty seats.
How can you overcome this so your business can continue to operate and flourish in spite of the labor shortage?
How to Overcome the Shortage
Hire Freelancers and Independent Contractors
Outsourcing IT requirements has become so common recently it’s quickly turning into an industry standard. This is doubly true as more IT professionals realize that joining an outsourcing company or striking out on their own as freelancers can afford them more interesting and flexible work. Hiring teams or freelancers can be cost-effective, as well as alleviate the need for consistent hiring of employees due to turnover.
The Great Resignation has changed the way IT professionals look at and approach employment. This means companies need to change their approach to staffing and project completion.
Re-Skilling and Skill-Building
You may already have a team of IT professionals who can handle your IT needs with some more education. This can alleviate the need to bring in and train new talent that may not fit the corporate culture or have proficiency in company-wide systems.
Re-skilling existing talent can save time and money for your company by increasing retention of current employees, as well as expanding the capacities of your business.
Part of this is re-thinking your retention and compensation strategies. By doing this, you can entice high-quality employees to stay and lend their growing expertise to your company into the future.
Changing Hiring Requirements
A growing movement in job-searching has been for a change of requirements for new hires. Firms prefer to hire senior programmers and set their standards high, however, this leaves little room for candidates who are actively interested in working with your organization but don’t meet high standards.
Companies often advertise positions with a minimum wage that require a senior programmer. However, a senior programmer knows they can go elsewhere and find better pay. This leads to a vacancy that can last months and feel impossible to fill.
By considering less qualified candidates with potential and the willingness to grow their skills, you can not only hire talented candidates other companies passed up but grow a specialized workforce. This can aid with retention as employees feel fulfilled in their positions.
A serious problem companies face is needing top talent but not having the budget to pay top dollar for it. Senior developers are not willing to take less than a certain salary for their skills and expertise. This leads to hiring professionals with less talent that will fit within the salary budget.
Hiring abroad can mean a better price for senior programmers. Contracting out to a firm that specializes in contractors from abroad with a better price can help solve salary and skill problems simultaneously.
Overcoming the Software Developer Shortage
Changes in the expectations and supply of IT professionals have led to a hiring deficit. To stay competitive and continue attracting fresh talent companies must grow and change their mindset and expectations.
Changing hiring strategies and expectations, welcoming freelancers and remote or abroad staff, and opening opportunities for re-skilling in the workplace will allow companies to overcome the labor shortage.