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How the Talent Shortage is Affecting Your Company

Finding new hires to fill in the gaps in your company is not how it used to be.  Where once it only took a week or so to find people, now it takes months… that is if you do find one at all. 

Many companies play the waiting game, hoping that the Great Talent Shortage phenomena will blow itself over, but at what cost does holding out come with? 

Losing Clients 

According to Human Resources Director Magazine, 85% of IT professionals feel that the workforce shortage is impacting their daily operations. 

This is apparent in the cybersecurity industry. Many organizations are having difficulty in coping with the volume and sophistication of new threats attacking their clients because they lack the manpower to monitor and address attacks. 

As a result, clients lose trust in their security provider and look elsewhere. 

Losing Staff 

Clients are not the only ones who may leave, but also the staff.  

With the workload increasing and compromising the work-life balance, staff may decide to look elsewhere to work despite being offered more benefits and higher salaries if they stay. 

What You Can Do About It 

  1. Take a dip into deeper talent pool 

In the US, after leaving their employers, many decided to make a career shift from tech roles to non-tech roles such as project management, storytelling and others. 

But that is not the case when you look across the globe. In the Philippines, the number of professionals in the IT-BPM industry is growing and it is forecasted to reach 1.43 million in 2022. 

     2. Hire more than 1 staff member & Increase coverage 

To ensure work distribution among your team and get more hours covered, get more than 1 staff. This will also help so that client support requests are taken care of. 

But… finding one staff is hard enough, how do you get more? The answer is in the next point. 

    3. Build an offshore team 

With offshoring, you can tap into a tap into a deeper talent pool, and with lower hiring costs than your local talent, you can opt to onboard more than one, allowing the benefit of extended time coverage and lesser workload for your onshore team. 

Not sure how to get started with offshoring? We’ll walk you through each step and guide you from recruitment to daily operations. 

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