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Why speed to market is your biggest challenge to find developers?

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Why speed to market is your biggest challenge to find developers?

Why speed to market is your biggest challenge to find developers?

Without a strong team of developers, your business may experience a variety of operational difficulties which can impact project timelines and budgets. This is proving to be a complex issue to overcome, with research revealing that the hiring process for roles in tech can take 50% [1] longer to complete than hiring processes for other vacant positions. This clearly has an impact on speed to market.

What exactly do we mean by speed to market?

Speed to market (STM) is a term which refers to the time it takes to devise, develop and successfully market a product or service. Speed to market is an integral metric in competitive marketplaces, as you need to ensure that your offering is reaching your audience ahead of your competition. This will also have an impact on your brand's ability to position itself at the forefront of your industry, which will ensure that you are viewed as a trusted source of information, advice and support.

Why is the tech industry experiencing soaring developer demand?

Businesses need top talent in order to transform ideas and concepts into reality, however, attracting that talent isn't always an easy process, particularly because demand for the best and brightest talent is soaring. There are numerous reasons for this increased demand, including the plethora of additional tech roles that have been created as businesses took steps to adapt to remote cloud working as a direct result of the Covid-19 pandemic.

Investment in the tech sector is also fuelling demand. Between January and May 2022, 950 technology businesses in the UK raised a record £12.4 billion [2] in venture funding, overtaking the likes of China and India. Another key piece of the tech talent shortage puzzle sits firmly within the education system and its inability to transform curricula fast enough to keep pace with the emerging demands of such a fast-paced tech industry.

How to attract and retain top tech talent?

As the skills of developers are in high demand, candidates are presented with the opportunity to pick and choose between numerous employers, which means that you need to ensure that you are offering a better employment and benefits package than your competitors. Now isn't the time to hold back, as businesses that are seen to be going above and beyond to offer the best packages will be the ones to secure the most impressive talent.

Whilst the financial aspect of the overall package you are offering needs to be solid, it is also important to think about other elements, including work-life balance, hybrid working opportunities, career progression, and the variety of projects available.

The Inspire approach to advertising tech careers

Inspire is a next-generation talent partner leveraging the power of technology. We take an innovative approach to matching your brand with tech professionals who have skills and knowledge ideally suited to the growth stage of your business. Whether you need tech strategists to drive forward specific projects or are eager to proactively scale your permanent teams with a multi-hire solution, Inspire has what it takes to effectively support this key stage of your brand's growth.

Resources:

[1] https://www.forbes.com/sites/forbestechcouncil/2021/04/13/analyzing-the-software-engineer-shortage/?sh=240124d8321c

[2] https://www.uktech.news/funding/uk-tech-startups-raise-12bn-market-slowdown-20220613