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How to Hire software developers for as little as $500 per month

The pandemic paved the way for rapid digitisation and transformed how businesses operate. Over the last few years, we’ve seen a whopping number of new start-ups and tech companies. With digitisation comes the increased demand to hire exceptional tech talent. Despite the circumstances seemingly aligning, hiring the best developers can be taxing.

Why Is It So Difficult To Find Good Software Developers?
Numerous sources cite an acute talent crunch in the IT sector today. The demand for developers is higher than the supply of qualified professionals. As a result, organisations find themselves bidding against each other to attract top talent with higher salaries and perks.

Why is finding a good developer so difficult? For one thing, skilled talent is expensive – regardless of their years of experience. Good developers are hard to find within the limited talent pool that many recruiters have to work with. Furthermore, the increased demand for developers has companies struggling to keep up with competitors, better offers, and current salary expectations.

The demand for developers has grown, and there are no signs of it slowing down. In the US alone, the demand is expected to grow 22 per cent by 2029 – an average growth far more rapid than other occupations combined.

The costs of hiring a developer today are higher than ever before. Recruitment costs can vary depending on your needs – freelance developers, agencies, or a full-time team. Considering sourcing and other miscellaneous expenses, hiring a full-time developer can cost companies as much as $28,548 to $35,685.

For most businesses, the reality of these costs can be discouraging – especially if you have a great idea but an incredibly tight budget.

The good news? There’s always a way if you put your mind to it. Businesses can bring their A-game to the market without spending a fortune on developer salaries.

Here’s a list of cost-efficient ways to hire the best developers for your business.

Hire Remote Software Developers
Remote working today isn’t just the new normal but the accepted normal. The world’s leading tech companies jumped on board the remote revolution early. The process can seem daunting initially. However, there are several advantages to remote hiring. A wider talent pool can help you access talented developers from anywhere in the world at much lower costs compared to in-house hires. There’s enough research demonstrating how remote employees are more engaged and productive. Depending on hiring location, businesses can significantly reduce employment expenses each month.

For companies willing and able to adapt, remote hires can be a game-changer. It offers a great deal of flexibility to recruitment. Additionally, the model is also scalable based on business or project-specific needs.

Work With Freelance Developers
Working with freelance developers can be one of the easiest ways to stay within budget. When you hire developers on a contract basis, you eliminate several overhead costs such as travel, amenities, food, infrastructure etc. Not incurring these expenses each month can save you a lot of money in the long run. Combine this with freelancers that work remotely, and the savings will be significant. Not only can you hire top developers at better rates, but you also have access to the best people around the globe.

Reduce Cost Per Hire Through Employee Referral Programs
Word of mouth remains the most effective way to source top tech talent. One of the ways companies can leverage this is through instituting employee referral programmes. The chances of a referral getting hired are much higher than external candidates. For companies, it means a massive reduction in the cost per hire. Hiring becomes quicker, more efficient, and economical. Sourcing high-quality developers is much easier through recommendations and referrals. Furthermore, referral programs speed up onboarding and offer the best chances of a higher retention rate in the long run.

Consider Hiring Developers Through Social Media Channels
Job portals may offer convenience, but they’re not always the most economical options. Many charge hefty fees for you to avail of their services. Avoid going down the same hiring route each time (and shelling out a lot of money). Why not consider social media channels to find developers instead? Instagram, Twitter, and Facebook are free platforms that are equally effective in their reach.

Social media recruiting has been around since the rise of social media itself. Millennials and Gen Z spend more time on these sites than anywhere else online. Even email comes second. Globally, internet users spend an average of 145 minutes per day on social media. As more younger people enter the workforce, businesses would do well to direct their hiring efforts through social media.

Outsource Recruitment To Reputed Staffing Or Third-Party Agencies
​​Without technical expertise, hiring developers can be a tricky and time-consuming process. The skills a developer needs can vary according to project type, scale, complexity, maintenance, and duration, among several other things. There’s no one-size-fits-all in recruitment, especially recruitment for developers.

For non-technical recruiters, the effort needed to deep dive into each of these factors can be as challenging as running a business. Not only is the procedure taxing, but it’s also expensive.

Partnering with the right staffing agency can address all these roadblocks. The best agencies already have the processes, strategy, connections, and talent pool in place. They work alongside businesses to develop recruitment strategies that align with budgets and project requirements.

Do you need help hiring the best developers for your team while keeping your budget intact? Smart Working can do it for you. To determine what best suits your needs, please drop us an email, and someone from the team will be in touch.
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Category: Offhsore hiring, hiring remote employees
Found: 05.07.2022

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