Hiring Software Engineers, Affordably and Quickly
Talent recruitment is already a big challenge for a startup with limited funds. Hiring software engineers, though, is an even bigger challenge for an aspiring entrepreneur. How do you get your hands on top-tier talents without breaking the bank? Read on to learn how!
When it comes to building your business from the ground up, your resources play a crucial role in its foundation. You need solid and reliable resources to help you successfully launch your startup. It’s also added insurance to have stable resources in today’s volatile industry.
Beginning your startup involves finding capital, recruiting talent, building facilities, and managing the entire operation. In the IT industry, building a software company can become incredibly expensive, especially with the price range of today’s market.
However, as intimidating as the current stats are, it’s still possible to find affordable tech talent. The key to finding great talent at a good price is to do your research. In this post, we’ll talk about hiring software engineers for your company, quickly and affordably.
Software Engineers in the US
Software engineers are one of the most in-demand positions in the US. There’s even a shortage of software developer talents in the country. This is because the Information Technology field is rapidly growing, shelling out over $5.2 trillion in 2020. And the US happens to be the largest tech market in the world, representing 32% of that total. With these trends, the labor sector can’t keep up with the demand for workers in the field.
Although the labor challenges in the industry are prominent, this is excellent news for aspiring entrepreneurs. Clearly, in the lucrative field of technology, starting your own software company is a good idea.
High demand for software developers
In today’s modern lifestyle, technology fused itself in just about everything. Almost every aspect of society became digital, connected, and automated. The waves of innovation have built up over time and are continuously piling and introducing more revolutionary inventions.
More and more businessmen have integrated the newest technology in their operations, services, and products. Consequently, this led to the need for more technical minds in the company. Software engineers take on the heavy load of creating, upgrading, and changing the processes of the business.
This is no easy feat as software development, in general, requires a lot of technical skills and experience to navigate and keep up with the rapid-paced evolution of technology.
A software engineer should not only master his specialization, he or she also has to adapt to the changes in whatever tools, framework, and languages he or she is using. In short, software development is a very laborious job that justifies the demand for the business market.
Hiring software engineers
Now that we’ve learned why they’re in high demand, it’s time to find out how you can hire them. It’s time to tick off the questions on your checklist.
How many software engineers can you afford to add to your team? What’s the best way to find them? And what are the things to consider in building a productive team?
To figure out how you can save money on talent recruitment, you have to trace back the average spending on the position. On average, a software engineer’s salary is about $107, 688 per year in the US. This doesn’t include bonuses and other employee incentives. Now, you also have to consider that specific specialization in the field demand a higher rate.
Senior-level software engineers command a higher rate based on their years of experience and skills. With this, you need to consider whether you can retain your talent in the long run.
They are in high demand and can easily switch to better opportunities if you don’t provide an appealing offer. You can’t risk any chance that your software engineer will leave you halfway through the project because of a lack of funds. This will not bode well for your startup’s success.
As a startup owner with limited funds, understandably, it’s not easy to shell out a fortune for just one position in your team. However, it’s still essential to invest in only the best people to run your business.
You can’t just hire any software engineer; you need to hire one that can produce quality output that can take your business to the next level. But with their current rate and shortage in the US, how will you be able to hire senior-level talent without breaking the bank? Simple, hire them from a different country.
The offshoring option
In recent years, a lot of successful tech companies have jumped on the offshoring trend. Big names like Accenture, IBM, and Microsoft have offshored a lot of their processes and recruited their talents from other countries.
The reason a lot of these US companies offshore is to cut down spending on resources. Offshoring reduces cost on talent recruitment, operations, and facilities.
Where to offshore
Among the top choices for offshoring are countries like the Philippines, India, and China. This is because Asian countries have relatively lower pay rates compared to the US rate. The Philippines, for one, offers software developers with annual pay as low as PHP 370,000 or approximately $6,800.
This means that it’s just over 10% of the pay rates in the United States for an entry-level developer. Besides, countries like the Philippines also offer a vast talent pool so you can select the best candidates for your team.
How to offshore
Although offshoring is very beneficial, you still have to be wise about adopting it for your startup. You need guidance from offshoring experts who can help you leverage the perks of offshoring to your advantage.
Additionally, you need mentorship from seasoned entrepreneurs to advise you on your startup journey.
Full Scale is an offshore service provider. The company was founded by Matt Decoursey and Matt Watson, two successful entrepreneurs who have personally used offshoring to leverage their businesses.
It’s safe to say that we know our stuff! We can match you with the right team of experts within our office and give you full access.
While you focus on guiding your product development and scaling your company. Our Guided Development gives you full control of your software product while our developers create it for you.
Learn more about our services today!