The Global Shortage of Developers
Why is there a Global Developer Talent Shortage?
In 2021, the global developer talent shortage already amounted to 40M workers worldwide, which is predicted to increase to 85.2M by 2030. Companies around the world are at risk of losing huge sums of revenue due to this talent shortage. The COVID-19 pandemic also contributed to the shortage, specifically as the healthcare industry became increasingly more digitized.
So, what’s caused such a drastic change in the tech development market?
1. Demand is Outpacing Supply
One of the most prominent reasons why there is a software talent shortage is simply because demand for developers is far outpacing the supply of software development talent. As new technologies continue to grow, so does the need for development talent, yet there just aren’t enough developers in the world to meet the increasing pace of software development and maintenance. This is also driving higher cost, as developer compensation is rising dramatically.
2. The Great Resignation
Many developers are also moving to different professions entirely, in the hopes of finding better salaries and to avoid burnout. On top of that, bigger companies have the upper hand when it comes to hiring developers as they can provide these competitive salaries, which leaves smaller enterprises with less opportunities to hire new talent.
3. Lack of Experience in Emerging Fields
As COVID-19 spread across the globe, the healthcare industry became far more digitized than ever before, with online consultations and remote patient monitoring at the forefront of this shift. Moreover, other fields such as the Internet of Things, Machine Learning, big data, DevOps and augmented reality are becoming ever more important in the world of development. This means that developers and coders need to be familiar with these new fields, yet it’s still taking them some time to catch up.
4. Bias in the Hiring Process
Part of the problem lies within the fact that employers are hiring based solely on resumes and previous education that developers have. Many employers look for prestigious degrees, instead of focusing on the actual amount of skill a developer may have. In reality, a lot of qualified and skilled coders have taught themselves new languages without doing a formal training course. A recent Forbes article argues that a coding assessment should be the first step in the hiring process, which can therefore prevent snap judgements made when employers glance at a resume.
Solving the Talent Shortage
Besides changing the hiring process to avoid snap judgements, training courses could also be implemented in order to help developers learn more about emerging fields. Training in-house employees would also allow for companies to grow in ability, without having to take on new employees.
Hiring offshore developers may also be part of the answer. Since local talent may be sourced by competitors, looking elsewhere in the world for skilled developers is a smart move. By pooling developers from around the world, a broader range of skills can also be found, along with specific specializations. Offshore coders can also work while in-house developers are off the clock, which can push projects to be completed faster.
Why SRG’s Team is Right for You
SRG has a “no-shore” approach, merging offshore resources in Portugal and Eastern Europe with USA based project management, business analysis and execution resources. We have cultivated a strong culture of productivity, career development, and enjoyment, which has allowed us to continually grow our team of capable and motivated software developers.
We can help you reduce development costs, while communicating effectively and efficiently to provide you with top quality products and services.
Written by:
Maxine Wesley
