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Talent Crisis: Can We Avoid an $8.5 Trillion Loss?
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    Talent Crisis: Can We Avoid an $8.5 Trillion Loss?

    Struggling to find the right software developer these days? Brace yourself for the impending talent apocalypse within the next few years. In fact, Korn Ferry's report discusses a global talent crunch – 85.2 million skilled workers will be missing by 2030. That's enough to cause trillions of dollars in lost revenue.

    So, why is this happening? Let’s have a detailed look.

    Four common reasons for the talent gap

    Here are some of the most vivid aspects telling us why it might be challenging to find qualified workers (especially experienced software developers):

    • Generation changes. It's true that aging populations and falling birthrates are real concerns for the workforce in many places. This might mean we will need more younger workers to fill the gaps when experienced people retire.

    For example, Japan's and European countries' rapidly aging population is a major factor behind worker shortages.

    • Skills mismatch. Things are changing quickly, and sometimes, it feels like our education systems aren't quite keeping up with the skills businesses need. This results in a skills gap, where positions for software developers, designers, and QA specialists may remain unfilled.

    • Rapid technological advancement. Automation and AI are causing shifts across industries. Traditional jobs are disappearing, and there's a need for highly specialized skill sets that many workers haven't yet developed. Think of a factory floor – now you need people to program the robots, not just work alongside them.

    • Increased competition. Finding skilled workers used to be a more local concern. Now, companies worldwide compete for the same skilled workers, making it hard to hire developers, project managers, and other specialists from this competitive global pool.

      Also, with their generous compensation packages and international reach, tech giants like Meta or Google often attract top talent away from smaller businesses or less developed regions.

    So, can we say we are doomed? I don’t think so. There is one option - IT staff augmentation that comes in to save the day.

    Is there a solution? IT Staff Augmentation offers hope

    IT staff augmentation can be a valuable asset for businesses navigating today's challenges. By strategically adding skilled IT specialists like remote developers to your team, you gain several advantages:

    • Access to global talent: Augmentation providers like Unitedcode open the door to a world of skilled developers across 19+ countries. Do you need a software developer from Ukraine, Hungary, or Mexico? Consider it done.

    • Scalability: Easily adjust your team size based on project needs. Whether you need one specialist or a larger team, augmentation services ensure you always have the right resources.

    • Potential cost-savings: Sometimes, hiring remote developers for specific projects can be more cost-effective than hiring full-time employees. IT staff augmentation helps you control costs without sacrificing quality.

    • Transparent pricing: Staff augmentation models often offer clear pricing, unlike traditional outsourcing. This allows you to understand your costs upfront without any hidden surprises.

    Finding top engineering talent can seem like a persistent challenge. That's why we've spent the last 5 years perfecting our hiring process.

    Want to know how we seamlessly integrate AI projects into our business operations? Check out our latest article, “AI Project Development: A Strategic Guide to Business Integration” for insights into our unique methodology.

    ARE YOU Ready for a supercharged engineer at a reasonable rate?
    Request a callback
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    281.223.2855 info@unitedcode.net 8911 North Capital of Texas Highway, Suite 4200 #1151 Austin, TX 78759