As the world embraces digital advancement for more efficient living, many companies are also taking a paradigm shift to adopt advanced software and technologies to conduct their business. This naturally heightens the demand for specialised tech talents who are not just scarce in the marketplace but also increasingly hard to recruit. Solution? Outsourcing. Here are some reasons why you should outsource tech talent for your business:
When a company manages an in-house tech team, it is not just liable to pay for recruitment, training and salary, there is also a whole host of hefty software and infrastructural costs to maintain. By embracing remote IT outsourcing solutions, not only can you reduce technology costs but also reduce the cost for permanent hiring to hourly hiring that works in the favour of the company. Assuming the average salary of an in-house software developer is S$40,000 to S$77,000 per annum (not inclusive of benefits and welfare), you can easily reduce these manpower costs if you hire remote software developers in Singapore or other regions on an as-needed basis. These tech talents usually provide their own software and hardware too.
Whether it is to outsource web engineers or outsource tech talent of a specific field, the greatest advantage has to be the convenience of accessing a large pool of expertise around the world to grow your business. There is no need to limit your search to Singapore, you can choose to engage remote global talents who are best suited for the project. Today, many companies are turning to remote talents in locations like Eastern Europe, Latin America, Asia and Africa for cost-effective but high-quality tech services. Alternatively, you can go through outsource vendors like Webpuppies to access the best talents suitable for your projects.
When outsourcing is done correctly, it can close skill gaps by blending the expertise of remote talents with the in-house team to produce exponential results that take the company to the next level. Such a strategic move enables the internal team who knows the business well to focus on driving the business and leave the more mundane tech development tasks to the remote team. Truth be told that most businesses that embrace remote IT outsourcing solutions don’t need their software developers or remote web engineers to base in Singapore. As a result, there is really no downside to outsourcing.
Outsourcing can reduce overall operating costs, free up internal resources, improve technology development and eventually accelerate business growth. Especially with the arrival of the COVID-19 pandemic, the increased demand for small and medium size businesses to quickly create an online presence for business continuity has driven many companies to leverage remote web engineers in Singapore. These businesses may not have sufficient funds to sustain an in-house tech team, but the ability to outsource web engineers enabled them to revive their operations and recoup losses caused by the pandemic lockdowns since 2020.
Research has shown that the estimated cost of hiring the wrong person can be as high as 30% of their annual salary. When you hire the wrong developer earning S$50,000 per annum, you are actually incurring S$65,000 of damages for your business. To compound matters, nearly three in four employers run the risk of a bad hire. Considering these risk factors, outsourcing is a highly efficient method to manage costs and ensure continuous business progression that can sometimes be disrupted by the change in manpower.
While traditional businesses may consider outsourcing as an unusual way of managing a team, hiring remote tech talent has many benefits. With the right mix of remote tech talents and in-house expertise, companies can reap significant cost-savings, swiftly expand technological expertise to beat the competition and even accelerate business growth with smart resource allocation. If you are hoping to optimise your business, exploring the possibility of remote tech talent outsourcing solutions could offer tremendous opportunities that give your business a competitive edge.