Software Engineering Shortage in 2022: Market View and Solutions

Offshore Development
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Software Engineering Shortage in 2022: Market View and Solutions

Software engineering can be a rewarding career. Millions of people choose this path for their professional development every year.

Back in 2019, there were as many as 26,4m software developers in the world, according to Statista, and this figure is expected to grow to almost 29m by the year 2024.

The world is, arguably, in the midst of the Fourth Industrial Revolution. Artificial Intelligence, robotics, the Internet of Things, etc., all these technological advancements are creating novel business models, new revenue streams, and crucially, vast opportunities for employment in the field of software development. All this technology requires software, and ergo, software developers.

Problem is, there currently isn't anywhere near the required amount of skilled software engineers to go around. There is a stark shortage of software developers worldwide. 

While the technological marvels of the Fourth Industrial Revolution might be groundbreaking, the problem of staff shortages in the IT industry is hardly new. Back in 2019 for instance, there were almost 1m unfilled IT-related positions in the United States alone, according to CNBC News.

This particular report was compiled by comparing the applicants pool and the incoming graduates against the number of open positions. And if one looks at the worldwide figures, the issue becomes even more apparent.

According to statistics compiled by the U.S Labor department, as of December 2020, there was a global shortage of talent of about 40m. Extrapolating this to future forecasts is almost shocking. If the trend continues, the global shortage might swell to over 85m skilled people by 2030. 

Addressing the problem

Over the last 18 months or so, the Covid-19 pandemic has sparked a tidal wave of change in people's attitudes to work and the workplace. Both employers and employees now face the new normal, as working remotely has become normalized and recommended. But remote work alone will likely not be enough to sway people's minds when it comes to career choices.

An enticing remuneration package will probably have significant bearing on a skilled worker's final decision, as will perks and other job-related advantages. But even when offered a highly competitive salary, perks, and other benefits, skilled professionals might even think twice before embarking on a new project. The deciding factor might be the access to newer, state-of-the-art technologies while at the job. Companies 'stuck in the past', or those using functional but relatively obsolete technology might find it hard to recruit the best talent out there.

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The work environment has always had a social aspect to it. You go into the workplace, meet coworkers for lunch, afterwork drinks, etc. Some companies place particular importance on fostering this facet through corporate activities, social initiatives, raffles, etc. The corporate culture, in other words. When considering taking up a position, professionals are highly likely to take this culture into account, and might seek companies whose ethos and culture best align with their personal values and belief system.

So to start addressing the problem of software developers shortage, companies would do well to consider all of these factors:

  • A very competitive salary
  • Adequate benefits
  • Perks
  • Access to state-of-the-art technologies
  • A welcoming, people-centric corporate culture

Solutions we offer at AllSTARSIT and recommend to our clients

Here at AllSTARSIT, we have mastered the recruitment process so you don’t have to spend your time on it. Plus, we offer all the benefits & perks you can possibly imagine. Our clients present an interesting project, and we take care of the rest. 

See our Expertise page to know more about our hiring process, industries we work with, and  read some client reviews. 

Find out how ALLSTARSIT can help you grow

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