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Good engineering practices are the foundations for delivering great software, meeting customer’s needs and expectations. IT/ software is a dynamic industry, where any upgrades in technology would bring massive changes in business opportunities and workforce. These changes are happening a lot frequently these days and it continues to do so in 2020 also. Being a technology leader, it is always a challenge to keep up with the technology trends and assemble the teams that will support you meet the project deadlines.

How risky is eying for an MVP?

Be it a startup or a mid-size or established firm, most of the time they end up focusing on building an MVP first. That’s not a bad idea either but in the meanwhile, the initial scope will increase 2X times based on business requirements resulting in clogged feature pipeline, team burnout, barely stable product. On top of it, the tech talent gap in the software industry is massive and takes more time to recruit than any other position in an organization. As a CTO/ technology lead, you have to ensure that your team is always ready to adapt to the latest technologies and deliver not just an MVP but stellar products to clients.

Challenges Tech Leaders will Face in 2020

  1. Optimizing technical budget
  2. Architecture planning 
  3. Delivering beyond MVP
  4. Performance optimization
  5. Recruitment of skilled talent
  6. Testing and Reliability of the product
  7. Product Management

Above all, new generations (millennials) are coming up with diversified skill sets that have a better understanding of new-age technologies. Perhaps, blending your experience and knowledge with new-age talent and driving innovation will be a challenge for you. Running a one-man show in managing resources while keeping up the development standards high is quite challenging.

Surge for talent has been a growing challenge for many companies in recent times.

We’ve pulled out a few stats impacting tech talent shortage in the USA. 

  1. There were 18% more net new tech hires compared to 2017, outpacing overall US hiring of 14% net new hires. However, only six positions were filled for every 10 open positions.
  2. It does take time to find new talent. In the first five months of 2019, it took US employers an average of 66 days to hire a new tech employee, up from 55 days in 2016, versus just 43 days for all types of hires. It takes 50% longer to hire a tech position than other roles. 
  3. The hardest tech roles to hire are security analysts, data research scientists, and database administrators. Employers are only able to fill less than half of their open positions. 
  4. Despite a large number of unfilled positions, there were, on average, 43 applicants for every tech hire in 2018 (up from 36 in 2016), compared to 21 applicants for every (all types) hire. The increasing number of tech openings is attracting an increasing number of tech applicants. [1]

The local talent shortage is the primary reason why US companies look for talent beyond the geographies. The second reason is obvious– the cost of the talent. As estimated by Glassdoor, the average annual base salary of a software developer in America is $83,197, while the US Labor Department estimates it at $100,080. In the very heart of Silicon Valley, the same developer will cost on average $133,010.

As a technology leader, have you been able to find the right talent that can meet your project deliverables within your budgets?

How have you been able to handle it?  Let us know