The global software products market is expected to touch $1493.07 Billion in 2025 at a CAGR of 11% as per Businesswire report. According to Statista, by 2025, application development will reach $199.75 Billion and enterprise software will hit $326.29 Billion.
As per ManpowerGroup Talent Shortage survey, nearly 7 in 10 (69%) of companies have reported talent shortages and difficulty hiring – a 15-year high. In 36 out of 44 countries, HR managers find it difficult to find and attract skilled talent to their teams, according to Bloomberg.
This is where CorePeelers staffing solutions as a staff augmentation service like so many other providers, as one of the approaches, helps to disseminate an IT workforce between businesses.
What do we mean by Staff Augmentation?
Staff augmentation is an outsourcing strategy to extend and enhance an in-house team with specialists who have very specific skills and experience on temporary or long-term project basis. Businesses can benefit by hiring resources who are fit for purpose and align with their skills and project requirement as an add-on to their in-house team’s skill gap.
While taking advantage of staff augmentation, companies can solve a wide range of staffing challenges, pertaining to hiring in-house professionals being more expensive, process of recruiting new staff taking up more time and effort, employee turnover rate increasing day-by-day, limitation of local talent pool and local top specialists being more expensive vis-à-vis the budget etc.
A peek into some of the IT out-staffing trends:
- Company culture and integration: With remote staff augmentation and virtual nearshoring becoming the new normal post pandemic era, having frameworks on seamless integration focused on workforce enablement, employee wellbeing and motivation into the home-grown company culture has become critical.
- Value for money beyond cost savings: It has become imperative for out-staffing providers to ensure flexible working as per client time zones, English skills fluency in terms of effective communication and better client cultural understanding and alignment with their processes and technology even before resource deployment to ensure value delivery from day one.
- Integration & adoption of new tech: Machine Learning (ML) and Artificial Intelligence (AI), Robotic Process Automation (RPA), Internet of Things (IoT), and Cloud computing are cutting edge technologies companies have embraced holistically and for which an increasing need is emerging for specialist developers and engineers to support execution and reap advantages from embracing new tech. Post the pandemic era, many non-tech organizations such as those in the Food & Beverage domain are also heavily investing in new technology solutions where augmented IT staffing and managed services are creating deep values for them.
- New and latest virtual & hybrid work tools: Augmented reality (AR) and virtual reality (VR) teamwork software and tools are the way forward for project management, videoconferencing, and client communications to boost productivity in the remote work and digital era.
- Niche Skills and Flexibility: Owing to the ever-increasing gap between talent dearth and increasing demand of niche technical skills, companies will need to contemplate offshoring more percentages of their IT processes and software development projects. Out-staffing companies who can offer specific niche skill-oriented developers along with great flexibility can go a long way to augment client homegrown IT teams.
- In-demand IT Skills: Cyber security, software development, software engineering, data & analytics, hybrid cloud computing, product management are the most demanded skills.
- Upgraded Cybersecurity: To ensure protection and risk mitigation from hackers and cybersecurity attacks in the context of distributed teams working on projects, necessitating cybersecurity training based on the latest software & best practices and awareness of all distributed members, especially deployed resources, will be number one priority for companies. Equally important to validate such existing capability and practices from the staffing augmentation company to have a fool-proof plan in place.