As the world faces the transformative economic, social and environmental challenges of Globalization 4.0, it has never been more important to invest in people. Technology & automation today, is rewriting the employer- employee relationship.
Across the globe, tech talent is in short supply. The pandemic has accelerated Digitization across industries which has further increased the demand for the already scarce tech talent! The situation is further complicated by the fact that tech jobs are becoming even more complex, changing ever rapidly and becoming redundant faster.
As demand keeps increasing and supply stays limited, the median salary of software developers and software engineers has gone above $ 100K in the US. This is more than double the national average! This has significantly increased the cost of product development, deployment, sustenance and support.
The overall attrition ( staff turnover) has gone up as well. Some employees quit for better pay. Some leave as they are overburdened as they have to double up for the positions that are not getting filled due to shortage of tech talent!
To solve this, we require a multi-pronged approach that covers:
- More investment in Human Resources
- Diversification & Broadening of Talent Channels
- Overall Strengthening of Talent Acquisition function
- Focus on Up skilling & Re skilling to leverage existing talent pool
- Better branding in the Talent space to help attract star talent
In this context, our “Training led Recruitment” model is an alternate channel that can
significantly augment tech talent supply. Techies with adjacency skills are sourced,
assessed, profiled and batched to create homogeneous cohorts (based on gaps vis-à-vis the
job description). Post this, immersive hands on training is imparted in batches while they
continue to be employed with their current employer or are in between jobs. Post successful
completion of training, they are presented to companies for evaluation and selection.
This works well for Full Stack Developers, Full Stack Engineers, Dev Ops, Cyber Security,
Cloud, Data Visualization, Data Science, Data Analytics, RPA, AI/ML, Blockchain etc.
From an execution stand point, there can be various engagement models basis the task split,
across recruitment & training, between our client and us. This can be mutually discussed and
agreed upon basis individual preferences and constraints.
From a business model stand point various variants in the Talent
Acquisition space are
available:
- Permanent Hires
- Contract to Hire
- Staffing
- Managed Services
So, for our clients, this works well as no modifications are required from a contracting
angle. Makes life easier for everyone while providing some reprieve to their tech talent
shortage problem.
