The IT hiring landscape is challenging; some might even say tense. And it’s easy to see why. There has been no shortage of new hurdles for companies to jump as they’ve worked on building their tech teams this year. From rising salaries and fewer highly skilled tech candidates to increased local and global competition … you name it, companies hiring for tech positions have seen it.
We’ve discussed the current IT hiring landscape and how the struggle to fill crucial roles can set back or stall major business initiatives—many of which are central pillars in growth and resilience. For companies looking to hire entire teams or to staff a whole project at once, these challenges are multiplied. And so are the costs they bring.
In the current labor market, it may take six to nine months for a company to recruit and hire a full team of software developers, data analysts, or IT project managers. During that time, your tech projects are probably moving slowly … or not moving at all.
As a leader in the technology recruiting space, Vaco has seen firsthand how the hiring landscape has evolved over the past year and a half. The number of candidates with competing offers has tripled, talent gaps are getting harder to fill, and salaries are increasing drastically.
Even with these challenges, company leaders shouldn’t despair. There are ways to keep projects moving and ensure deliverables are met, even in the face of hiring setbacks.
The challenges of hiring a team of IT professionals in today’s labor market
Steve Shoemake, a Vaco managing partner who oversees the technology division, has seen timelines for hiring large numbers of tech professionals balloon over the last few months. And according to Shoemake, the trends are likely to hold steady for the next nine to eighteen months.
“To hire 12 roles, a client will need to speak to 30 to 40 people to hire 12. Three interview rounds equal 120 meetings for the client. Add that to at least 60 resumes that they’ll evaluate, which means the recruiting firm(s) will probably touch 120 candidates … for 12 hires,” Shoemake says.
These hiring timelines represent a huge investment for companies—in both time and resources. And unfortunately, many organizations simply can’t afford to spend nearly a year trying to fill critical roles. This is especially true in a market where salaries for in-demand tech pros are skyrocketing and competition for IT talent is reaching all-time highs.
So where’s the answer? How can companies weather their tech hiring struggles without compromising their vital digital and IT initiatives?
The answer is through engaging a managed IT services provider.
How do managed IT services work?
An IT managed service provider allows a company to completely outsource a crucial tech function or project. That means the MSP handles everything: they assemble and manage the project team, manage and execute deliverables, pivot when unexpected challenges arise, and maintain project responsibility for the life of the contract.
In this once-in-a-generation labor market, being able to complete vital tech projects without worrying over the day-to-day work or management of the team doing it can be a life saver.
The best part? You can continue your search for outstanding candidates while your MSP moves your project forward.
Choosing a managed IT services provider
To get the most out of your relationship with a technology MSP, you need to have confidence in their expertise, processes, and abilities. The managed services space is crowded with competition, so it’s important to be selective with the partner you choose.
Here are some important questions to ask before engaging with an MSP:
- Do they have the right experience?
- Do they use the latest technology?
- Do they have the right talent for the job?
- Will they commit to Service Level Agreements?
- Do they understand your culture?
- Do they support your business goals?
- Do they follow industry best practices?
- Can they measure their performance?
- Are they flexible, creative, and strategic?
- Can they help my company scale up?
Perhaps now more than ever, a business’s technology initiatives are vital to its long-term success and resilience. The right managed services provider will understand your industry, meet your deliverables, integrate easily with your company culture, and do it all on time and on budget.
Managed IT services with Vaco
Vaco is an established managed services provider for a range of IT and tech functions, serving companies of all sizes. We deliver global, customized, plug-and-play solutions quickly and at scale, empowering our clients to focus on more pressing business matters while we manage their project from inception to completion.
From software development to quality assurance to cloud solutions, our managed services experts can tackle any IT project while seamlessly maintaining each client’s project timeline and budget. As a global talent solutions provider, we already have a deep network of talent and recruiters to staff projects of any complexity or scale.
Additionally, Vaco provides nearshoring services that allow businesses to outsource their IT project or process to a team in a neighboring or nearby country. Nearshoring a project lowers its operational costs while also providing time zone and language compatibility between a client and their outsourcing team. As a result, nearshoring can increase efficiency and streamline project timelines while improving the bottom line.
If you’re facing tech hiring struggles, you’re not alone. But the tight labor market doesn’t have to negatively impact the timelines for your most vital tech projects. With managed IT services with Vaco, your initiatives can stay on track with a skilled partner who’s with you all the way.
Ready to explore Vaco’s managed services solutions for your next tech project?
Contact us today.