As Forbes points out, pick up any recent report from Gartner, Inc, McKinsey or any other top advisory group and you are quickly going to hear some variant of the following statement: “Companies that have thrived during COVID-19 are the ones that have invested in digital transformation. The ones that increase their investment in digital transformation first will be the first to recover.” They are correct. Most companies that can point to automation, Agile, DevOps, cybersecurity and cloud initiatives in their technology stack can also point to cost savings and efficiencies. However, ‘digital transformation’ means an increased demand for software developers, cloud engineers, scrum masters, QA/QC and all the other associated roles. As we emerge from the COVID-19 economy towards recovery, finding and retaining these software and IT personnel will become even more difficult.
There’s no denying that demand for tech talent is at an all-time global high - and the supply has never been shorter. iDTech reports that as of 2021, it’s estimated that 3.5 million STEM jobs will need to be filled in the US alone by 2025. Latest research from Engineers Australia shows plummeting rates of secondary school students taking up STEM (science, technology, engineering, maths) subjects is setting the country up to fail as it transitions to a smart jobs economy. The tech skills shortage is an urgent and global crisis that needs to be addressed quickly and innovatively.
With this in mind, partnering with a specialist tech talent outsourcing provider like Sharesource should form a key part of your risk mitigation strategy. Unlike the vast majority of offshore outsourcing companies who offer low-level and data-entry-type roles, Sharesource specializes in providing super-smart STEM talent in several developing country hubs around the world. Hiring remote staff through us will allow you to tap into a significantly larger talent pool. If you go global you get more choice - it’s that simple. The pandemic has shown that remote work works - so why limit yourself to talent that lives within a thirty-mile radius of your office - or even in the same country? Technology enables communication, collaboration, relationship building and knowledge sharing solutions. Sharesource offers local, on-the-ground management of your team and rates a transparent, engaged, caring and fun culture as a key part of guaranteeing the return on your investment. It not only ensures high staff retention but actually helps to attract the best tech talent over much larger corporates. A recent hire turned down an offer with Canva in favour of working with Sharesource - citing the high employee satisfaction that comes with Sharesource’s culture.
Our experience shows that STEM graduates in developing countries tend to be more highly motivated than their counterparts in places like London or Sydney. This flows from a different world view and a much greater hunger for success given the fewer employment opportunities available, as well as vastly different socio-economic circumstances. Add to this the fact that you will be empowering and growing super-smart and hugely talented graduates in the developing world and you also have a compelling CSR and social enterprise benefit to consider.
Another major consideration of going global is that it allows you to take advantage of the significant economic arbitrage in developing countries. Taking on offshore outsourced teams means you can hire talented people at a fraction of the cost - enabling you to scale faster. For equivalent talent, labour cost-savings in places like the Philippines or Vietnam can often be as significant as 50-70%. Widening your search for tech talent globally will lead to a leaner operating model. Not only will you conserve cash on office-related costs like IT setup and equipment, facilities management and desk space, but partnering with a trusted offshore outsourcing provider will take away the headache of dealing with data security, HR issues and other related concerns.
If you’re looking for an offshore outsourcing partner who can provide super-smart, cost-efficient and diverse tech talent, Sharesource could be the answer you’re looking for. Download our eBook, '30 Essential Questions to Ask a Provider Before You Outsource’ to ensure you're informed and have the right questions to ask when considering the next step.