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Remote Team: Statistics to resolve the skill scarcity gap

February 21st, 2024
Remote Team: Statistics to resolve the skill scarcity gap.

In the rapidly changing tech landscape, companies are facing the pressing issue of skill scarcity. The major areas or industries where companies are facing skill shortages are IT and software development.

This pressing issue has given birth to the formation of Remote teams. Organizations are seeing using IT staff augmentation, and outsourcing software development as the strategies to hire remote developers.

This blog will highlight the statistical insights on how remote teams are helping companies address the skill shortage gap.

Skill scarcity: A major concern in the tech industry

Skill scarcity: A major concern in the tech industry.

The skill shortage is not only an HR concern but a major concern faced by the tech industry. A report by Korn Ferry projected talent shortage underscored the gravity of the situation when equated with lost revenues. A report by McKinsey Institute states that 87% of organizations will face the issue of skill shortage.

Now, let's understand how hiring remote developers will help organizations tackle the concern of skill scarcity.

Remote Teams: A solution to aid Skill Gaps

The shift towards remote teams is not only possible because of COVID-19, but it is a response to the pressing issue of skill shortage. A report by Buffer, clearly states a clear preference amongst employees to work remotely. A poll by Gallup shows that 37% of tech talent wants to shift towards remote working, this report aligns with Buffer's findings.

We understood that remote teams are a solution to aid the skill gaps, but what are the different methods to build a remote team?

Let's understand the different types of methods used in building a remote team.

What are the different types of Remote Teams?

What are the different types of Remote Teams?.

Direct Hiring

As the name itself suggests, when organizations directly hire remote developers for their companies. This hiring is done by posting various job posts on different social media platforms.

Benefits of direct hiring

  • Directly hired remote developers would match the culture of the company.

  • These employees will commit long-term work commitment towards the company.

  • Direct hiring will allow greater control over project management, thus allowing project success.

IT Staff Augmentation

IT staff augmentation is the most flexible strategy used to hire remote developers. By using the IT staff augmentation method, companies tend to hire remote employees for a temporary duration.

Benefits of IT Staff Augmentation

  • Companies can fill the skills gaps immediately even without hiring remote employees for a long time.

  • The companies can easily scale up or scale down the size of their team based on the requirements.

  • The IT staff augmentation company will bear all the administrative tasks.

Outsourcing Software Development Company

The company can hire an external software outsourcing company to delegate the full software development project. The hiring company can even outsource fewer tasks that need specialization. The hiring agency is responsible for carrying the burden of project completion.

Benefits of Outsourcing Software Development Services

  • Outsourced software development companies often bring a lot of IT specialization to achieve successful delivery of software solutions.

  • Outsourcing software development Services allows the company to get access to modern tools and technologies.

  • IT outsourcing can help the company in reducing the risks.

Freelance Hiring

A freelance remote developer is hired to meet the short-term project needs. Using platforms like Toptal, Upwork, and Fivver can help companies find remote developers.

Benefits of Freelance hiring

  • This method can prove beneficial when used for short-term hiring.

  • Provides a higher flexibility for specific short-term hiring.

  • Allows to have access to a global pool of diverse talent.

BOT Model

In this model, the company collaborates with an outsourcing agency to set up a remote team. It also allows the external team to operate the remote team for a short period. After, managing the company for a short period the external vendor transfers the ownership to the organization.

Benefits

  • It allows for a quick setup of the team

  • The initial cost is borne by the vendor.

  • After the transfer, the company can get the benefit of working with a fully operative company.

Each of the above methods has its advantages, based on the project requirements the company can choose the best fit for their project. The collaboration between the in-house team and the remote team would be difficult with project management tools.

Project Management tools like Slack, Asana, or GitHub will make project management efficient and cost-effective. The companies should also encourage the team to use diverse communication channels to maintain smooth communication.

Now, let's understand some best practices for hiring remote developers

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Acquaint Softtech can help you fill the gap by providing you access to the best-in-class and experienced pool of talented remote developers to meet your software development needs efficiently.

Remote Developers: Best practices to build a remote team

Hiring remote developers requires a thoughtful approach, unlike the one used in the traditional hiring process. We have mentioned a few best practices required to find the most relevant dedicated team of remote developers.

Remote Developers: Best practices to build a remote team.

Define Job requirements & expectations:

  • Mention all the skill sets, qualifications, and experience required for performing the job. Specify all the expectations, responsibilities, and a list of technologies to use during the project.

  • Look for the important qualities that make remote workers or developers more competent. Before hiring, the company should look for skills like communication skills, team building, and skill of working efficiently.

Using the right recruitment channels:

  • Using job boards as We work remotely, remote.co, etc. that specialize in providing remote candidates.

  • Using different social media platforms like LinkedIn, Twitter, and Instagram to post the job openings.

  • Encouraging the current employees to provide references of candidates that can fill the skills gaps.

Implementing Proper Interview and assessment process:

  • Conducting video interviews to assess the communication skills and technical knowledge of the candidate.

  • Assigning practical tests to assess the technical knowledge of IT.

  • Evaluating the capability by checking the ability to handle remote work challenges.

Give priority to communication skills:

  • Communication skills are important., look for candidates who can express their ideas clearly.

  • Evaluate how quickly a candidate communicates and responds during the interview process.

Evaluating cultural fit:

  • Before hiring, it is necessary to check that the candidate fits with the culture of the company.

Offer a competitive package:

  • After the candidate passes all the evaluation factors, the company should offer them a competitive package.

  • The company should also mention all the perks the candidate will receive throughout the remote work project.

  • Implementing the above best practices will help find and attract remote talent that meets all the project requirements.

Now, let's dive deep into learning some statistical insights that make the adoption of remote work a necessity.

Remote Work: Some statistics to watch out

Remote Work: Some statistics to watch out.
  • A report by LinkedIn showed an increase in the number of remote job postings as the numbers increased 2.5 times post-pandemic.

  • A recent survey by Globalization Partners indicated that 74% of CFOs, are willing to adopt work-from-home.

  • A study by Prodoscore Research shows an increase in productivity by 47% because of the adoption of remote work.

  • A study by Owl Labs shows a decrease of 25% in employee turnover rate, because of remote work

  • According to one report by FlexJobs, 80% of employees would stay loyal, if they get flexibility in their work.

  • MarketsandMarkets predicts that the global collaboration market will grow at a CAGR of 12.7%.

The above statistics are enough to consider shifting to remote work by building a remote team of developers.

Remote Team: Insights into the Future

In the future, the role of remote teams in mitigating skill scarcity gaps will see an upward trend. Gartner's report forecasts a 75% increase in the adoption of remote or hybrid work models. IT remote professionals will work at different time zones. The advancement in technologies like AI and machine learning will streamline remote team collaboration.

Want to outsource your software development project?

Reach out to Acquaint Softtech, an experienced Software Development Company with an experience of 15+ years in the field of software development. We can help you build custom software to meet your business requirements.

Wrapping Up!

Hiring remote developers has proved to be a cost-effective method to fill the skill gaps in the tech industry. Using the IT staff augmentation model enables the company to get access to a wider talent pool. As technology is growing, the shift toward a remote work model is more beneficial.

FAQ

What are the key benefits of hiring remote developers?

Hiring remote developers will offer access to a larger pool of talented IT professionals, it helps save costs and increase productivity. It helps increase the employee satisfaction level by minimizing employee turnover rates.

How do you ensure effective communication with remote developers?

Communication flow can be made effective by using the right communication tools like Slack, Google Teams & Zoom.

What are the challenges of managing a remote team?

The challenges of managing remote teams include a lack of coordination amongst teams due to differences in time zones, ensuring consistent productivity can also be one of the challenges.

How do you monitor the productivity of remote developers?

The productivity of the remote team can be measured by using project management tools like Jira or Asana. Setting up clear goals and expectations will help the team understand their KPIs.

Can remote developers work in agile remote development environments?

Yes, they can easily work in agile remote development environments.

.

Mukesh Ram

Founder and CEO, Acquaint Softtech

I love to make a difference. Thus, I started Acquaint Softtech with the vision of making developers easily accessible and affordable to all. Me and my beloved team have been fulfilling this vision for over 15 years now and will continue to get even bigger and better.

Table of Content
  • Skill scarcity: A major concern in the tech industry

  • Remote Teams: A solution to aid Skill Gaps

  • What are the different types of Remote Teams?

  • Remote Developers: Best practices to build a remote team

  • Remote Work: Some statistics to watch out

  • Remote Team: Insights into the Future

  • Wrapping Up!

  • FAQ

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