Software Development Company : A secret to tackle skill scarcity

Introduction

Since the past few years, there's been a shortage of software developers, making it challenging to start or continue projects even though there's a growing demand. Companies looking to succeed in this tech industry environment should understand the reasons behind this shortage and find ways to overcome it.

Shortage of Software Developer is a serious concern

• The tech industry is facing a serious shortage of skilled developers worldwide. This is because software development is becoming more complex, and there's intense competition for talented developers.
• In the United States alone, there are currently 1.6 million developers, quality assurance analysts, and testers. This number is expected to grow by 25% to over 2 million by 2031, which is faster than the average for all jobs.
• Despite an abundance of growth, there just aren't enough qualified software developers to meet the increasing demand. In 2021, there was a shortage of 40 million skilled developers globally, and this number is expected to jump to 85.2 million by 2030.

Let’s understand what scenarios this shortage of software developers implies.

The indications in shortage of developer shortage

A shortage of software developer can highly impact a Software Development Company

• Firstly, a shortage in software developers will lead to the escalation in the prices of software development charged by software development companies as all the companies will compete against each other to hire the best resource to meet their needs. This shortage of skilled software developers impacts the quality of the products and the services.
• Delays in software development can harm big economies. In the US, companies struggle to find skilled people, while other countries become better at leading in tech and innovation. The US might lose more than $162 billion in yearly earnings if it doesn't fill more tech jobs.
• Also, there's a risk that skilled tech workers might leave for easier jobs. In 2022, a report said 40% of US employees were likely to switch jobs. Looking back, this could be bad for companies losing skilled workers. So, businesses should keep an eye on how happy their employees are and have good plans to keep them and their knowledge.

Now, you would ask what are the solutions to overcome the implications?

Worry not, we are going to highlight the best possible solution to solve the implications

Keep reading!

But before moving to the solutions let’s understand the factors that can cause this implications

Know this 5 factors to tackle the problem of Shortage of Skilled Software Developers

The below are the factors that contribute in the shortage of skilled software developers

The industry is growing at an highly unexpected rate:-

The skills gap happens because of the rise of digital transformation or modernization. This growth is making it hard for companies to find skilled developers. When there are job openings that can't be filled, the current team can get stressed, causing burnout and people leaving.

The complex software developments are increasing:-

The more the merrier is not always good. As the technology is growing at a rapid scale it is becoming difficult for the IT professionals to meet all the complex problems there are circling the software development process. This advancement is proving to be difficult for the team to find the right talent for their organizations.

Mismatch between education and the IT industry is not able to solve the problem:-

The theoretical knowledge given during the education premises is not enough for the professionals due to the lack of modern knowledge and an absence of proper practical exposures. The developers need the right amount of professional development in order to gain the much needed practical exposure to fulfill the skill gaps.

The never ending competition:-

In IT, competition has always been the talk of the town. Talented developers are still in high demand. Now, with more chances to work from home, there are more potential employers for each job. The Internet and social media also give job seekers more ways to connect with possible employers, managers, and recruiters. This increases the scarcity in supplying the right talent.

The economic downturn:-

As the giants like Meta, Amazon, etc., are laying off, it makes a lot of availability for talented pools out there. This is the time when startups and small businesses can go and hunt talented professionals to integrate them into the team. To address the shortage of skilled software developers, exploring options like hiring individuals affected by these layoffs or considering Software Development Outsourcing Services can provide valuable solutions for augmenting your development team.

3 Eye-opening solutions to solve the problems shortage of skilled software developers

The below solutions can help you in mitigating the problems caused due to shortage of skilled developers

Proper education:-

Oftentimes, we blame the education system for the lack of skills in the professionals. But there are unequal education curriculums taught across the world. The government and philanthropists need to address this concern by improvising the education slightly in order to provide the ebay learning to future developers.

Internships and mentoring:-

The organizations can hire freshers and train them in order to develop modern software development skills in them. Interning them through video learning can also help them in improving their skills.

The modern way of working:-

The organizations need to embrace the remote work setup or say should look forward to running IT Staff Augmentation. In simpler words, organizations who are finding it hard to find the right talent pool to meet the scarcity of skilled personnel should look forward to outsourcing their work to external software development companies or should hire remote teams from across the globe in order to meet the skill gap.

Based on the three solutions the organizations can choose the best fit solution to mitigate their problem.

Now the question arises which are the best countries for outsourcing and How to Choose the Right IT Outsourcing Partner?

To answer this, we would say there is no size fits-all. Skilled developers are present in India, they are even present in the United States, the United Kingdom etc.

Let’s a brief info about the prices of outsourcing software development based on different regions

• Western Europe:- The prices in western europe are the most costliest and it ranges from 150 USD to 300 USD.
• Eastern Europe:- It is the most popular region for fulfilling the outsourcing needs. Countries like Ukraine, Poland etc fall under this region. The charges in this region range from 25 USD to 50 USD.
• Central/Western Asia:- This is the most trending region to outsource software development work. Due to the excessive availability of cheap labor the region gains a lot of software development gigs. The prices of this region range from 15 USD to 40 USD.

What makes Acquaint Softtech the best Software Development Partner

At Acquaint Softtech, we created an awesome new solution for SuperFi. They had a great idea but weren't sure how to make it happen. We advised them on the advantages of outsourcing to us, a software development firm. To speed things up, they decided to go for a minimum viable product (MVP). Instead of searching for a team, they chose to hire remote developers from us, which turned out to be a smart move. This saved them a bunch of time and effort, and we delivered a fantastic solution that both the client and their customers loved.

So, what keeps you waiting to hire us today to meet your Software Development needs

Summary

There's a lack of skilled people in the software development field. It's happening because making software is getting more complicated, more projects are popping up, and there aren't enough qualified developers to meet the demand. But, hiring remote developers through IT Staff Outsourcing method can help organizations in bridging the gap.