Organizations choosing to work with a tech staffing firm during an uncertain market will realize the benefits of having a trusted partner helping to navigate current employment conditions. Today’s tech employment climate has been a bit unpredictable with over 120,000 tech professionals experiencing layoffs in just the first two months of 2023. This has resulted in tech companies operating in a leaner environment, reorganizing how they approach staffing and being more selective in how they prioritize technology.
One thing remains the same, however and that is organizations, both tech and non-tech, must keep up with advancements for business continuity and growth. Getting some extra help with staffing and hiring strategies is a good option.
1. Gain a Competitive Advantage with Access to Top Tech Talent
With technologies such as AI, immersive reality tech, and 5G booming, many hiring organizations at first fear these advancements instead of seizing them. Some companies know, however, that they must get on board early in order to maintain a competitive edge.
According to Harvard Business Review, companies are looking to move about 60% of their IT estate to the cloud by 2025 and 50% of companies report they have adopted AI somehow in their business. Achieving these initiatives requires the right tech skill-sets, yet finding the proper talent continues to be a concern. Working with tech recruiters who are the best in their field with the inside track to top technologists is an advantage to securing the expertise needed to impact innovation.
2. Streamline the Hiring Process for Efficiency
Hiring companies managing their own recruitment often utilize applicant-tracking software to flag certain keywords in application submissions and find a match. They then predict candidates who might be a good fit for a position. While a common process, the concern is that much of the time these companies aren’t able to equate the ROI for a satisfactory hire. According to Harvard Business Review, only “one-third of U.S. companies report that they monitor whether their hiring practices lead to good employees.”
Tech staffing companies are built on the foundation of metrics, reporting these analytics and statistics that drive their success. They offer robust data on hiring success or where there may have been a breakdown and can quickly pivot to for optimal efficiency. More importantly, letting skilled staffing experts outside of the company manage hiring allows HR employees to focus on their main tasks and job, releasing the internal responsibility of hiring.
3. Work with a Tech Staffing Firm to Reduce Costs
Society for Human Resource Management estimates that the US spends approximately $4,700 in recruitment costs-per-hire. After breaking down hard costs and soft costs, staffing firms are built to source, screen, conduct interviews, do background checks and more at a rate that is more cost-effective than the time and money spent by HR on the same tasks that were being done in-house.
Plus, when you work with a tech staffing firm, you’ll benefit from a comprehensive process that ensures the right tech professional is hired the first time. Hiring the right talent initially is critical, not only because of time saved, but as as LinkedIn notes, hiring the wrong employee will usually cost a hiring company up to two times the annual salary of the employee.
When the market is uncertain, it’s understandable that any decisions that affect finances, such as working with a new third-party provider can be tough. At Matlen Silver, we have over 40 years of proven success in understanding our clients’ goals and developing tech staffing and solutions strategies that support their operations through changing employment landscapes. Contact a tech staffing expert today to plan your hiring strategy.