The right talent in a business plays a big role in making its operations run smoothly and efficiently. When you think about how much it costs to hire, train, and keep a whole team, it’s easy to understand why this is a huge concern for most companies.
Since not all countries have enough trained IT workers, companies are searching for top talent wherever they can find it. That’s why IT staff augmentation has become a popular choice, it lets companies bring in skilled IT Talent when needed—especially for startups who need extra help without a full-time commitment.
Challenges Companies Face When Hiring IT Talent
Finding skilled IT workers is becoming one of the biggest concerns for many companies. A survey from HCAMag stated that 77% of employers around the world are having trouble finding the right people for their jobs. This issue is especially serious in the IT field, where 78% of companies are struggling to attract talented workers. As businesses try to fill important tech roles, they’re facing big hurdles, like strong competition and how long it takes to hire the right people.
Companies are dealing with challenges like a shortage of qualified candidates and strong competition. The image below from Deloitte highlights how many companies struggle to fill crucial IT jobs.
Key Hiring Metrics in IT/Technology in 2024
· Most difficult IT jobs to fill in 2024
Companies need these trending tech skills to grow, but it’s tough for them to find the right people and keep up with important projects. According to a CIO report, jobs in Artificial Intelligence/Machine Learning, cybersecurity, and data science/analytics are some of the hardest to fill in 2024. The figure below shows 11 key IT/Tech roles that are especially difficult to recruit for this year.
Other Statista report highlights that in 2024, some of the hardest tech jobs to fill are backend developers, AI specialists, full stack developers, DevOps engineers, and application developers. Many companies are struggling to find qualified people for these important roles.
· Global talent shortage
According to Manpower Group, over the past 10 years, the number of companies struggling to find skilled workers has jumped from 35% to 75%.
In 2024, a staggering 76% of this shortage is in the Information Technology field. This means many businesses are finding it harder than ever to locate the tech talent they need.
· Average time to hire
The global average for all tech roles is 62 days (about 2 months), according to a Workable report. This is also a driving force behind the popularity of outsourcing and staff augmentation services over in-house hiring.
Can IT Staff Augmentation Model Solve these Hiring Challenges?
With the shortage of skilled workers and more companies looking for tech talent, IT staff augmentation has become a helpful solution for many modern businesses, especially SMEs and startups. This method lets companies quickly bring in experts to fill gaps in their internal IT team. By using the staff augmentation model, all the organizations can easily get the required skills they need without having to hire on a full-time basis. This is particularly useful for startups and companies that need to be flexible as projects need change.
Staff Augmentation Services Key Trends
· According to a report by Mordor Intelligence, the global IT staffing market size is expected to reach USD 142.37 billion by 2029, growing at a CAGR of 3.66% from 2021.
· SpendEdge, a firm that specializes in market research, predicts that companies worldwide will spend about $81.87 billion on staff augmentation by 2025.
· When it comes to IT staffing, many companies are finding that they need support for longer periods. In fact, according to Staffing Industry Analyst, 36% of businesses agreed that their assignments for IT staff usually last anywhere between 18-23 months. This indicates a significant demand for skilled workers over time. Whereas only 11% of companies said their assignments are less than a year.
· Staff augmentation is often more affordable than hiring staff locally in some countries in America & Europe. You’d be surprised to know that approx. 70% of companies list cost reduction as their main reason for outsourcing, allowing them to access skilled talent while cutting expenses.
Hot IT Skills Driving Staff Augmentation Industry
As companies look to grow while also staying competitive, they require particular tech/IT skills to get ahead. Staff augmentation is helping businesses fill these gaps with experts who specialize in the most in-demand areas. Here are some of the hottest IT skills shaping the industry today:
· AI/ML
· Blockchain
· Software development
· Cybersecurity
· Cloud Computing
· IoT
· Sustainable IT
Benefits of IT Staff Augmentation Service
Flexibility to change team size: You can easily add or reduce team members based on what your project needs. This way, you only have the number of people you need at any time.
· Access to global talent: You can find skilled IT workers from all around the world. This helps you get experts in special areas that might not be available nearby.
· Saves money: It’s usually cheaper than hiring full-time employees. You pay for the skills you need without worrying about extra costs like benefits or training.
· Quick hiring process: You can bring in skilled workers faster without the long hiring process, which means your projects can keep moving forward.
· Specialized skills for projects: You can hire experts for specific tasks, ensuring that you have the right people for each job without needing to bring them on full-time. This approach allows you to get specialized skills exactly when you need them.
· Less paperwork: You can focus on your work while the staff augmentation provider takes care of things like payroll and taxes.
· Less risk: If you need to change skills or projects later, it’s easy to switch out workers without the complications of hiring someone full-time.
Takeaway – IT Staff Augmentation Trends 2024
IT staff augmentation is quickly becoming one of the favorite strategies for businesses and with new technologies coming every day in the market, the need & demand for staff augmentation services is only going to get bigger.
And, if you find yourself in need of additional IT talent for your team, reach out to our experts at IDS. We will provide you with talented IT specialists, including AI/ML experts, QA engineers, and project managers. Whatever your needs are, we have the right people to help your business thrive!
