Social media platforms are buzzing with posts from software engineers complaining about firms’ recruitment strategies; simply put, they hate the current interview process. If you plan to hire IT professionals soon, you must not dismiss these rants and consider re-evaluating your hiring strategy; you need them more than they need you.
Software engineers on Hired.com received more than twice the interview requests in 2021 than in 2020. And this upward trend is likely to continue: by 2030, there is expected to be a global shortage of more than 85 million tech workers, representing an annual revenue loss of $8.5 trillion. This loss is due to the lack of skilled talent to take up jobs in tech. Moreover, 59% of employers surveyed stated that not having enough skilled employees has a major or moderate impact on their business.
The growing demand and inadequate supply of software engineers mean that businesses need to level up their hiring strategies to employ the best talent. This article will help you understand the common problem faced while recruiting software engineers and how you can improve your hiring efforts with FloCareer.
What are the problems faced while hiring software engineers?
Traditional hiring methods have many cons, which are present when recruiting for tech roles as well. However, these issues get aggravated while hiring in the IT space due to the immense talent crunch. Here are some problems you could face while using traditional hiring methods to employ a software engineer:
1. Lengthy hiring period
To reduce the risk of a bad hire, firms put candidates through multiple rounds of interviews, which require immense time and effort from the potential employee and employer.
However, since there is immense competition between firms to hire the best software engineers, speedy recruitment is vital. Companies need to interview and shortlist candidates quickly before a competitor hires them. Firms must also make their hiring process as efficient as possible or risk losing out on suitable candidates: 62% of professionals said they lose interest in a job if the employer doesn’t respond within 14 days.
Having a structured interview strategy, such as that provided by FloCareer, helps you conduct a better and more focused interview, reducing time wastage and helping you shortlist candidates quickly at scale.
2. Lack of uniform education standards
The lack of formal education is a major challenge when hiring IT specialists, as many professionals in the field are ‘bootcamp graduates’ or self-taught. Only 42.37% of software developers have bachelor's degrees, and just under 21% have attained a Master's degree.
Due to a lack of a uniform education standard in the industry, many firms have moved towards skill-based hiring when recruiting for tech positions. With the benefits of diversification absolutely clear and companies trying to hire non-homogenous talent, we expect skill-based hiring to pick up rapidly over the next few years. Skill-based hiring does away with degree or university bias, a trend that affects several hiring managers worldover.
Amanda Richardson, CEO at CoderPad, says that this change in the hiring process is beneficial for employers and employees: “hiring based on skills instead of factors like college name or the candidate's geographic location will bring stronger, more diverse talent to the table."
FloCareer’s skill-based interviews can help you adapt to this change by testing for required soft and hard skills using situation-based questions and real-time assessments.
3. Limited talent pool
Businesses worldwide are struggling to find qualified software engineers with the necessary aptitude. A recent survey found that 86% of IT professionals with a good skill set are already employed, making it harder to find a suitable candidate.
Companies should build globally distributed teams and include remote workers to expand their candidate pool. Hiring remote workers is now easier than ever with FloCareer’s on-demand interview, which removes the geographical barrier from the process and lets candidates appear for the evaluation anywhere, at any time, and from any device.
4. High hiring costs
Hiring software engineers is a time consuming and resource-demanding process. In addition, tech professionals expect high salaries and compensation due to the global demand for their skills: the average package for a software engineer with two years of experience is $209,000 annually.
FloCareer’s skill-based interviews use a pre-determined scoring chart that allows you to conduct large-scale evaluations quickly and effectively.
5. Not using technical recruiters
Many general recruiters don’t have a tech background and aren’t equipped to judge if a potential employee is right for a role. When hiring for specialized positions such as software engineers and data scientists, it is important to have a technical recruiter on board who is familiar with the criteria of the technical role and qualified to assess candidates against those requirements.
By harnessing the power of the gig economy, FloCareer has put together a team of 3,000+ technical interviewers who are experts in specific technical areas and thus adept at assessing these same skills in your potential employees using directed and specialized questions.
Create a better candidate experience for software engineers with FloCareer
With a high demand for IT personnel, the tech job market is currently skewed toward software engineers. Moreover, as firms move away from assessing candidates based on degrees or experience, new tools are needed the determine a candidate’s suitability for a position in a standardized and unbiased manner.
Luckily for you, FloCareer can help you create a positive hiring experience for candidates and businesses with our data-driven talent assessment tools.
Our top-of-the-line interviewing infrastructure and a team of experienced interviewers allow you to gauge the candidate’s technical and soft skills. In addition, our question bank contains over 1,500,00 questions, including MCQs, descriptive, coding, and scenario-based questions that help you assess the candidate’s suitability for a role in an objective manner. FloCareer also provides a detailed feedback report with a video recording of the interview, which you can share with other stakeholders to ensure a fair hiring process.
FloCareer’s interview platform provides results quickly- outsourcing the first round of interviews to FloCareer makes the process five times faster. By switching to digital interviewing, you can also keep track of your cost-per-hire and time-to-hire rates and use this data to make your hiring more efficient.
FloCareer’s 3,000+ technical experts have conducted over 300,000 interviews and successfully worked with global organizations, including Mercedes Benz and General Electronics. Book a free demo today to see how our services can help you hire quality talent effortlessly.