Why Remote Tech Hiring Is the Way to Go in 2022
Covid-19 gave a mega boost to what was an already growing trend of adopting remote work. On top of that, more advanced telecommunication tools keep getting introduced and businesses are realizing the perks of remote work. Altogether, the popularity of remote work continues to skyrocket!
Already, there is an existing global talent shortage. According to management consulting firm Korn Ferry, there will be 85.2 million unfulfilled jobs by 2030! Different industries have welcomed remote hiring with open arms to tackle this shortage – especially the tech industry.
In this article, we are going to look at the advantages and disadvantages of remote tech hiring in-depth and discuss why it is the way forward for tech companies.
Pros of Hiring Remote Tech Professionals
The growing popularity and need for communication tools and technologies, the surge of tech talent shortage, and the financial repercussions of the Covid-19 pandemic have all made employers reconsider remote work. The fact that even the global tech giants have opted for a remote or hybrid way of working in some form has turned the general negative opinions into positive ones.
So, what are some of the pros of remote tech hiring we have identified?
• Access to a Global Tech Talent Pool
We are in the middle of a grave global tech talent deficit and the leading countries in the IT sector will take most of the impacts of this crisis. According to a report by Kornferry on the global tech talent crunch, the technology market will face a shortage of 4.3 million tech workers by 2030. And this will result in an unrealized output of $449.70 billion worldwide. Another statistic to put things into perspective is, ManpowerGroup disclosed that 69% of US employers struggled in 2020 to fill their vacant positions.
Remote tech hiring provides a very feasible solution to this problem. With remote hiring, it is possible to take advantage of job markets where job availability is the issue, not talent shortage. This allows you to get developers with diverse tech specializations from all over the globe to work for your organization.
Another great thing about remote hiring is flexibility. Oftentimes, organizations’ hiring needs are short-term. Organizations can leverage off-shore hiring flexibility in those cases. Remote tech hiring presents companies with the option to hire short, mid, or long term or, on a per-project basis. Moreover, the employee demands have also gone through a metamorphosis. Tech employees are now prioritizing flexibility over even promotion.
A survey conducted by the IT company Ivanti has made some startling discoveries regarding the change in employee priorities. Employees are willing to choose the freedom of working flexible hours from anywhere over promotion.
Additionally, an offshore development team means fast scaling and downsizing flexibility depending upon the company’s specific needs at any given time.
• Fast Recruitment
On average, it takes more than 52 days from posting an in-house job advertisement to an offer letter to get accepted in the IT sector all around the world. This lengthy process includes severance packages and legal hassles. Other factors such as the notice period delay the process even more for a developer to join a company.
This is where offshore hiring comes to play. With offshore hiring, companies get access to a global talent pool who are experts in diverse tech stacks. The reduced paperwork and access to a much bigger talent pool make tech recruitment a piece of cake with offshore hiring.
• Minimized Overhead Costs
Building a team of remote tech professionals is allowing companies to be cost-efficient. In developed countries such as the USA, UK, Australia, Germany, and the Netherlands, hiring an IT professional is a costly affair due to the high living costs in these countries.
To put things into perspective, the average salary of a mid-level software developer in the USA is 7-8 times more than in Bangladesh. Whereas, remote hiring gives access to untapped markets like these where employers can afford the same expertise at a lower cost.
• 24-Hour Workflow
A very often overlooked benefit of remote hiring is having the employees work round the clock. For example, when the in-house employees’ working hours finish, someone working remotely from a different time-zone will start their working hours. This will prevent the company’s resources from sitting idle. Communications with clients from different time zones and 24-hour maintenance and customer support also get easier.
Cons of Hiring Remote Tech Professionals
While remote hiring of tech professionals provides the tech industry with an array of unique revolutionary opportunities, it also exhibits a few drawbacks. In this section, we will delve into the downsides of remote tech hiring.
• Lack of Team Spirit and Unity
Some may find building team spirit, culture, and togetherness harder with telecommunication mediums. After all, humans are social beings. When an employee works for a company remotely, it may become challenging for him to feel like a part of the organization.
It can be difficult for employees working from remote locations to build mutual trust and cooperation and a sense of togetherness. As a result, a feeling of isolation can arise.
• Time Difference
While having employees working from timezones can be an advantage, it also causes various inconveniences. Waiting 6 to 12 hours for feedback can be frustrating for the employees and inefficient for the organization. So, coordinating the projects in line with different time zones remains an ongoing challenge for the companies.
• Management and Security Issues
There are possibilities of miscommunication between employees and managers in remote work. Therefore, setting effective remote work policies and leading the team can be tricky at times.
Add to the management issues, there might be some cybersecurity concerns regarding off-shore work. Configuration of an employee’s home internet connection and different software including antivirus software may put sensitive company information at risk.
Are the Drawbacks of Remote Hiring Solvable?
The short answer is “yes”. Disadvantages of remote tech hiring such as time zone differences, management, and team cohesiveness issues can all be tackled with more coordination and planning. Also, as new communication and management tools keep getting introduced, management and coordination of a remote tech team will get more convenient with each passing year.
Regarding cybersecurity concerns, they can be discarded fully with proper security policies guiding working from home practices. Companies can implement useful security measures such as the use of firewalls, VPNs, multi-factor authentication, and deployment of a complete endpoint detection and response (EDR) solution.
Remote Tech Hiring - Is It the Future?
The worldwide tech talent shortage resulted in a loss of $112.2 billion in terms of output in 2020 alone and the number is expected to increase manifold with each passing year. Furthermore, companies are looking to cut costs to soften the financial blow served by the pandemic. They are also looking to save time and resources deviating from the in-house complex hiring processes.
Remote tech hiring serves as a highly efficient fix to all these setbacks. With remote hiring, employers are no longer dependent on the local talent pool. Moreover, the hiring process is much simpler and more efficient.
To conclude, remote tech hiring can be a valuable solution to some of the most serious underlying issues the global IT industry is currently dealing with. So, yes, there should be no doubt about the fact that remote tech hiring is the way to go for now and for the future.
Remote Tech Jobs Hiring Made Easy by Offshoring Companies
The accessibility to a global tech talent pool also presents a challenge in finding the best profile from so many available options. Additionally, companies need to strike a fine balance between technical expertise, cultural adaptability, and interpersonal skills while hiring remote employees.
This is where offshoring companies like Ban Base enter the scene. With Ban Base, get access to top tech experts in Bangladesh who are pre-vetted and trained by Silicon Valley devs. Enjoy flexible contracting models and sit back while we take care of your remote tech hiring and integration needs.