There has been an increasing demand for software engineers in the United States and the supply is falling short. Every industry has integrated software into everyday operations to get the job done. Information technology companies are no longer the only ones bidding for software engineers. All different industries have companies wanting to hire them, resulting in a software engineer shortage. How has this issue affected American businesses, and how can it be fixed? Read on to learn more.
It can take twice as long to find a qualified applicant for tech positions than other positions. There are more factors to consider when evaluating a candidate for a software engineer position. Because so many more industries are competing for technical talent, companies must make provisions. Software engineers have more options to choose from and typically prefer higher-paying remote positions.
Since software engineers can take better positions in other industries besides the tech industry, the tech industry is suffering. The workload does not decrease just because a position is not filled. Instead, the workload must be split between the few workers already there. Regular updates are delayed more often, and new ideas don’t flow into the market as fast as they would if there was a surplus of software engineers. Our industries have been hindered due to this shortage.
Since the beginning of the information age, the software has ruled over multiple operations and industries. The more software implementation, the more workers we need to maintain and produce systems. The separation between supply and demand will continue growing in America unless we can find a resolution. While the shortage is bad for businesses and corporations, the software engineers in America are taking advantage of these opportunities. They are asking for better compensation, benefits, and more off-time. Companies must offer competitive compensation and benefits or risk retaining talent.
Not every company can continue bidding up for the best candidates. So, what can American companies do to fill their positions and mitigate the software engineer shortage?
The first thing that businesses must do is optimize their hiring techniques. For example, suppose a software engineer is interviewing for three different jobs; they will most likely choose the offer that pays the highest and starts the soonest. This time crunch is hard for companies because they must fully evaluate each candidate. There is a fine line between spending time seeking the perfect candidate at the risk of losing them and expediting the hiring process at the risk of hiring an unqualified candidate. Regardless, there is a way to strike a balance. The following includes tips to optimize time and create a faster, more efficient hiring process.
The vetting process is another aspect to modify. American software engineers are using the shortage to inflate compensation. If you branch out into offshore talent and other untapped markets, you will find candidates willing to work within your company’s budget. Since most software engineer positions are becoming remote, hiring someone offshore can be straightforward. Also, international software engineers may have unique skill sets to offer.
The software engineer shortage doesn’t have to slow down your hiring functions. Using the correct vetting and hiring process while including international workers for support can give companies a competitive edge. Stay growing and keep innovating your needs with Filtered.
Filtered is a leader in skills-based, data-driven recruiting technology. Our end-to-end technical hiring platform enables you to spend time reviewing only the most qualified candidates, putting skills and aptitude at the forefront of your decisions. We’ll help you automate hiring while applying objective, data-driven techniques to consistently and confidently select the right candidates. To get started, contact our team today or register for a FREE demo.