The Demand is Real: How to Cope with the Software Developer Shortage
Updated: May 11, 2023
Looking for software developers? You’re not alone. Hiring software developers is the second most common problem among employers today. Demand for software developers will increase by 21% by 2028. This is more than twice as fast as forecasted growth across all other computer occupations (+8.4%). And the software developer shortage shows no signs of stopping. Read on for info, tips, and strategies to manage this ongoing talent shortage.
Anatomy of a Software Developer. Why There are so Few of Them?
Software development jobs represent the largest segment of IT occupations, so it’s no surprise that qualified candidates are in such high demand. When you consider that software development represents the core of any digital transformation initiative, you can understand its scale and scope. The explosion in app development has driven demand even higher and will see a +25.6% surge in job growth by 2028.
The biggest challenge in recruiting developers today is finding genuinely qualified candidates. While the foundation of a software development career has traditionally required a four-year computer science degree, increased demand, coupled with the speed at which tech is evolving, means that experience sometimes outweighs education. Clients who hope to adopt the latest software technology often seek more years of experience than a language has been around. As a result, more and more development training takes place online. Almost 74% of software developers report having taught themselves updated skills to remain current, and nearly nine percent have sharpened their skills through coding courses or boot camps.
Not only is software education and experience necessary, but a strong understanding of specific business functions is equally essential. For example, a software developer in an investment bank or trading firm should know the basics of exchanging stocks and commodities and managing funds and assets.
What qualities are most desirable among in-demand developers? Strong communication skills are imperative, including the ability to clearly communicate expectations and work well as part of a team. Excellent problem-solving skills, attention to detail, and strong collaboration skills are critical traits among in-demand software developers.
The Impact on Businesses
The demand for software developers has both financial and operational impacts. According to iCIMS’s Benchmark Report on Hiring Tech Talent & Devskiller’s True Cost of Recruiting a Developer, it takes an average of 66 days to fill a technology role. It also takes 50% longer to hire for technology roles than other positions, and provides an average of $33K loss in productivity during the recruitment and hiring phase. Overall, the software development talent shortage halting innovation and affecting business growth.
How to Work Around the Shortage
Savvy tech employers have embraced different solutions, including filling their positions with non-traditional applicants and relying on internal training to fill the skills gap. Take a look at some ways businesses are creating workarounds to the shortage of software developers.
- Developing training programs to build your software development team and promote from within
- Leveraging low-code or no-code platforms for faster application delivery
- Incorporating non-mainstream resources into the development process
- Hands-on development and interactive problem-solving
- Improved employer branding efforts, including enhanced benefits
Struggling to fill your software development positions? Benchmark IT has been placing Tri-State technology talent since 2007. Our in-depth knowledge of the local talent landscape and proven recruiting process means that if we don’t already know your next hire, we’ll find one fast. Give us a call to learn more.
About Benchmark IT –Technology Talent
Benchmark IT offers technology consulting, executive search, and direct hire recruitment and staffing services. We service a wide range of clients and industries throughout the metro New York area and beyond. Our proprietary recruitment process, and dedication to precision, ethics, and personalized service sets us apart from other recruiting firms. As a result, Benchmark IT has become a trusted partner among Fortune-ranked companies, mid-market, start-up, and growth-phase firms since 2007.