We now live in an application economy in which software powers an exhaustive list of personal and professional activities, from grocery shopping and entertainment to inventory management and accounting. However, an ongoing skills gap exacerbated by the Great Resignationis making it difficult for most organizations to effectively maintain their software portfolios.
With outdated apps making up nearly a third of the typical organization’s technology stack, the vast majority of companies say application modernization is a business imperative. However, few companies have the in-house skills to adequately meet their development needs. Almost 90 percent of organizations say they are struggling to find the necessary technical talent to develop and support applications, according to a new study from Indeed.
Recent analysis by the Harvard Business Review suggests large numbers of software developers have left the industry over the past two years due to pandemic-related burnout — part of the so-called Great Resignation in which workers across the country have quit jobs in record numbers. HBR reports that tech is experiencing the highest annual resignation rate of all industries at 4.5 percent, compared to 3.6 percent for second-place healthcare.
Compounding the problem, large numbers of Baby Boomer-era programmers are now heading into retirement, often taking years of valuable knowledge about legacy applications with them. That is particularly troublesome for organizations that remain reliant upon mainframe-based apps written in COBOL, a 60-year-old programming language that few IT professionals understand today.
To address their critical application needs, many companies are investing in employee education and training programs to develop home-grown IT talent. Others are also aligning their curriculum with management training tracks in an effort to retain high-skilled employees.
A Better Choice
However, it could be several years before companies realize the benefits of those programs. Outsourcing to a provider with a deep bench of software developers may be a better choice for addressing your immediate requirements.
Here are four reasons you should consider outsourcing software development projects to a qualified provider:
· Instant expertise. According to one study, it takes nearly two months to find, recruit and hire a new developer. By collaborating with a third-party provider, you can gain almost immediate access to developers with the training, certifications and experience necessary for your particular project.
· Less risk of a wrong hire. It isn’t always easy to find candidates with the exact qualifications you seek, which means you may sometimes wind up hiring someone with less experience or expertise than you’d prefer. Working with a provider allows you to evaluate a deep pool of candidates to find the best choice.
· Reduced costs.If you can find qualified candidates, you may not be able to afford them. The true cost of an in-house developer can be nearly three times the base salary once you’ve accounted for onboarding, training, insurance and other benefits.Outsourcing costs are far more predictable.
· Faster development. Getting new hires or even established staff up to speed on new projects can take up valuable time. Additionally, your existing staff may have to split time with other essential duties. A software development provider with proven expertise can ramp up quickly and deliver a finished product with fewer mistakes in much less time.
Legacy software can create functional limitations, increase security risks and compatibility issues with new technologies. However, a lack of in-house skills can make development a challenging process for most organizations. SSD can fill the gap. Our software development team can help you create custom solutions or modify existing ones to reduce risk and increase efficiency. Contact us to learn more.