In today’s global business landscape, finding the right IT staff can be a challenging task, especially when operating internationally. More than half of the technology leaders in Deloitte’s Tech Trends survey claimed to have vacant tech positions at their company.
That is the reason many businesses are increasingly turning to staff augmentation models to address these hiring challenges and gain access to expert IT support.
Here are five key benefits that staff augmentation offers to global companies.
Based on information from the Society for Human Resource Management, hiring a software developer costs approximately $4,129 per hire and typically requires an average of 42 days. Although these figures may differ among companies, one certainty remains: acquiring a skilled developer necessitates a substantial financial investment and the need to adequately onboard them before they can contribute effectively.
Staff augmentation can significantly reduce costs associated with hiring, training, and retaining global talent as your company can add capacity to their teams in any market while keeping costs under control. By leveraging external resources, unnecessary spending on recruiting, benefits, and underutilized staff can be eliminated, resulting in substantial cost savings.
Accelerated Hiring Process
According to a survey by Reveal, recruiting developers with the right skills is the first business challenge for most companies in the US. And the problem is going anywhere any time soon. The IMF estimates that the tech talent shortage will swell to more than 85 million tech workers by 2030.
The main issue is that unfilled positions cause delays and impact the bottom line of a business. In their report, the IMF suggests that the fierce competition for technology workers can potentially translate to lost revenue of over $8 trillion annually.
So perhaps the question is, what are your recruitment or hiring managers doing differently to build a stronger talent pipeline? Partnering with software development agencies in foreign markets can prove a reliable way to increase your reach to new talent and reduce the time it takes to identify and onboard key resources, allowing businesses to fill positions quickly and efficiently.
Enhanced Management Oversight
Unlike regular outsourcing, where operations are often handled independently, staff augmentation means that new talent will work closely with your managers, providing visibility into project progress and allowing for real-time collaboration and advice. In fact, these IT professionals brought on board act as an extension of your existing team, integrating seamlessly into your infrastructure. Such kind of close integration gives you more control over the project, allows for a higher level of communication, and maximizes project results.
Maintained Control and Process Consistency
When you bring in external staff, it usually means that you need to entrust individuals outside your internal employee with key systems and processes. This could raise concerns about process compliance and change management.
Staff augmentation simplifies this by allowing you to submit your core processes and change management requests to the staff augmentation partner, ensuring that all IT talent is screened and matched according to your specific needs. This enables you to maintain control over your core processes while benefiting from the expertise and capabilities of the augmented staff.
Scalability and Flexibility
Many companies encounter situations where they aim to undertake large-scale projects to facilitate growth. However, their existing staff often lacks the expertise to execute these expansion plans effectively, and hiring senior talent is way too expensive. Why not consider contract work? According to the Bureau of Labor Statistics, nearly 40% of the workforce consists of contract workers – roughly half of all the workers in the United States.
So if your business is dynamic and needs to change rapidly, staff augmentation can prove a great model as it allows you to quickly expand your team on an as-needed basis within days. It can also prove an ideal solution for short-term projects, in which you need to hire temporary resources.
Using the staff augmentation model, your company can add headcount, focus on specific skills, and complete projects quickly. Plus, it offers the agility to adapt your strategies to changing market needs without the legal challenges and costs associated with traditional hiring.
Staff augmentation offers numerous benefits for businesses operating in global markets. It provides cost savings, accelerates the hiring process, facilitates management oversight, enables scalability and flexibility, and ensures process consistency.
By leveraging staff augmentation, your company can access the right IT resources they need, streamline their operations, and stay competitive in today’s fast-paced global market.
Are you ready to explore the benefits of staff augmentation for your business? Contact us today to learn more and discuss your staffing requirements.