The Software Engineer Shortage
Layoffs of great software engineers?
Not a chance! Sure, layoffs have been all over the news. But who is letting people go, and why?
There’s a lot of uncertainty and an underlying fear in the market right now. Who will be the next to get severance?
It’s a time to buckle down and think about expenses. During covid there was a massive boom in hiring and a fear of laying people off and how that might look. Companies were getting government help, through programs like PPP, to cover employee expenses. Now that we’re (somewhat) on the other side, employers are taking a deeper look at costs as well as profits.
Many are finding that it’s difficult to justify the additional expense of employees and they are letting people go in order to stay profitable. While it’s unfair, we think this is a period of great opportunity.
For people working in the office, it’s a great time to reinvent yourself. You can level up your skills and get a remote job.
Did you know that, among all the layoffs, the area that was least affected was tech? Great software engineers continue to be in extremely high demand – and, there’s still a massive shortage.
The IMF predicted that in 2030, there will still be a shortage of 85 million tech workers. There’s a lot of room in tech to grow. With new technologies that we are only starting to break into – cloud computing, data science, autonomous vehicles, AI, IoT, etc – there’s huge demand.
“Companies are paying more, they’re hiring more, but there is still a shortage of high-skilled tech workers. Technology is the thread that runs across every aspect of business.” – Alan Guarino, vice chairman at Korn Ferry
The people who have the skills to build the software that helps society expand and grow will always have a job.
Companies are finding their fortunes—and futures—increasingly tied to their ability to attract a limited pool of qualified technology workers. That shortage is expected to become more acute in coming years as the role of tech continues to expand across industries. Globally, tech spending was expected to grow to $3.7 trillion last year, up 6 percent from 2017, according to estimates from Gartner Inc., a global research firm based in Stamford, Connecticut. – Source: IMF.org
In this current climate, however, the challenge is finding affordable engineers that allow your company to still be profitable, and even grow more.
This is our sweet spot at FullStackRemote. We have the most talented engineers on the planet. We carefully vet each person in our network – not just for technical skills, but also ensuring they are a great team fit.
The best part is that they are affordable. There are over 7 billion people on the planet. We challenge the tech shortage by finding the best talent and allowing them to work from anywhere. We are your go-to talent pool for elite remote software engineers.
Finding and vetting engineers is hard, expensive and extremely time consuming. We lift all of that burden for you and match you with the best fit, the first time.
Struggling to find talent to the talent you need to realize your company’s vision? Let’s Chat