Tag: The great resignation

Great Resignation tech firmas are gettind desperate itj

Great Resignation: Tech firms are getting desperate

Posted on | by TeresaPenafiel | 4 Comments on Great Resignation: Tech firms are getting desperate

Recruiting new employees has never been more difficult or expensive.

A Gartner research found that just 29% of worldwide IT professionals have a “strong intent” to stay in their present positions. Undoubtedly, it becomes evident that the skills shortage is destined to become worse before it gets better when you multiply that issue across different tech positions.

Employers now find it hard to replace the wave of workers who quit in the Great Resignation, which started last year and hasn’t ceased. Statista reports that the number of workers departing in the US has now eclipsed pre-pandemic highs for 8 consecutive months. Due to this widening disparity between demand and supply for tech professionals, firms are now forced to use extraordinary incentives to attract as many of these individuals as possible, but this shouldn’t be the only solution.

Reframing The Great Resignation

Discussion about the Great Resignation has centered around the negative, but what about the present? 

Demand for Flexible Work Has Increased

The pandemic forced a change in the way we work, the likes of which have never been seen before. Workers who had previously been denied remote employment options and flexible work schedules have had a taste of the brave new world. 

Companies that have attempted to force employees to come to the office or workplace have faced a huge backlash, especially when workers believe they can do their duties just as effectively from home. For this reason, hybrid and remote working adoption are the best alternatives. 

Instead of going against the current, take advantage of it.

A major reset

Despite what some may think, as we’ve already mentioned, all is not lost. Many chances may be seized by pausing to consider the “why” behind The Great Resignation and using it as a model for change.

First, we must acknowledge that a new assessment of work is long required. Henry Ford popularized the idea of an eight-hour workday and a forty-hour workweek in 1926. He understood that in order to find applications for and learn about consumer goods, individuals needed to have enough free time. The concept was that downtime should not be considered “lost time” or even a “class luxury” but rather an essential component of daily life and work. The fact is that workers who participate in The Great Resignation don’t necessarily leave their jobs altogether. Instead, people are making efforts to discover occupations and employment that will improve their quality of life and work-life balance. On a broad scale, it is up to employers to meet workers where they are and work with them rather than against them.

Think outside of the border

An ecosystem of specialized companies that are located on both sides of the border is a solution for the tech talent shortage issue. Mexico has the same drive to boost its innovation and tech hubs across different industries and different companies. Nearshoring is a pretty good option.

BOT (Build, Operate, Transfer) model, a model of contracting and then owning a qualified and trained team to operate at fulfilling capacity strengths. More and more companies around the world are coming to know all the advantages they get from adopting a BOT model.

Adopting the Hybrid Work Model

It’s crucial to remember that merely giving this concept lip respect won’t be enough to make it stick. Organizations must establish highly specific policies and support for these models, allowing workers to choose whether they want to work on-site or remotely. Transparent policies and procedures that outline workers’ positions and the parameters in which they have discretionary authority are the first steps in achieving this.

The battle over a dwindling talent pool is getting more heated, and our assumptions as employers must change. Great IT experts and developers can occasionally be found all over the world, and by leveraging them effectively, you can get the most from them.

At this moment, hiring excellent tech talent would seem to be the ideal option, but because the tech environment is changing so quickly that we frequently can’t keep up with it, the best course of action would be to adapt and optimize. Don’t hesitate to contact us to help you get the best software teams in the Americas.

About ITJ

ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.

What can companies do about “The Great Resignation”?

What can companies do about “The Great Resignation”?

Posted on | by TeresaPenafiel | 3 Comments on What can companies do about “The Great Resignation”?

The not-so-new phenomenon took over the US economy up until this year. But, according to official data released last month, the pandemic-era phenomenon was still a feature of the job market in early 2022. According to CNN Business, US businesses had 11.3 million job openings to fulfill this year, slightly more than economists had predicted; regardless, the great void is far from being filled out.

Meanwhile, the number of people quitting their employment increased to 4.4 million in February, up marginally from the previous month but still well behind the November peak of 4.5 million. Despite providing more significant compensation, businesses struggle to attract employees due to the labor crisis. According to this study, the US software job market currently faces a 472K tech talent shortage, with 9 out of 10 business owners struggling to find and hire IT professionals. 

Many businesses are asking the underlying issue: What can they do to smooth out the enormous resignation effects?

One solution is to go to a nearshore software development solution, which may be accomplished via the BOT model. The Build-Operate-Transfer model allows service providers to quickly set up a new center by applying its client organization’s internal culture and processes. The aim is for the service center to be completely operational from its foundation. When set up in countries with a lower cost of living, it can also significantly reduce operating costs. Under these circumstances, a nearness between borders can become a great advantage.

Nowadays, these processes have become more rapid, easy, and achievable for all-size enterprises, and when looking for a great nearshoring partner, Mexico turns out to be the best option. According to Forbes, hiring Mexican talent is now far less expensive than in the US; Mexico’s talent pool turns out to be the most attractive. In Mexico, about 160,000 engineers graduate each year. As a result, Mexico has become a powerhouse of software engineering expertise in Latin America, with a talent pool of over 700,000 engineers. Plus, regarding IP Protections, because of the recent approval of the USMCA and a lengthy history of acquiring IPR protections through international accords, US corporations have substantially greater intellectual property rights protections in Mexico, according to NAPS. 

If you want to know more about the BOT model and how it works, you can visit the BOT Model: How global companies expand in this pandemic. 

To succeed in your field, you must be aware of changes and follow the latest trends. Keep an eye on what’s going on around you and adjust. Sometimes, the best option is to partner with someone else to continue growing your enterprise. You can be surprised by adapting to new fields or choices you have never considered before. 

About ITJ

ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.