5 Things to Know About Hiring Talent On Demand

Thanks to technology, many companies have modernized their hiring policies and opt to hire both in-house and remote professional talent. The COVID-19 pandemic further informed companies that remote workers can be just as productive, if not moreso, than in-house employees. Companies have to connect with the right people who possess the right skill sets.

If you’re thinking about hiring professional talent on demand, there are a few best practices you should follow to ensure you utilize your business resources for maximum efficiency. This will ensure that you connect with the most qualified professionals, especially if you need to hire development talent, and give your company the strongest leg it can afford to stand on in a competitive marketplace.

• Create a hybrid of in-house and remote talent

The days of mandatory in-house employment have come and gone. More and more companies are shifting gears towards a hybrid employment model that balances a base of in-house talent that’s supported by a team of remote professional talent on demand.

Just look at some of these stats on the emerging dynamics of hybrid workforces:

• 84% of 500 business leaders intend to keep hybrid, flexible, and remote work hours
• 89% of European companies plan to keep hybrid workforces for the long term
• 40% of employees will take a pay cut for the option to work remotely

You can see a pattern in the data. Both companies and employees want options for greater flexibility, and everyone is willing to make the necessary changes to bring those desires into reality.

COVID-19 forced a lot of this shift upon companies in order to protect employee health and safety. Now, as much of the world emerges from the pandemic, it’s time to make hybrid work models permanent. It’s why there’s been significant growth in direct sourcing hiring to adapt to this change and enable companies to connect with the right skilled talent faster and easier.

• Talent on demand plugs skill set gaps

Every team has its strengths, but there are also many weaknesses on every team. In the product development space, there are a number of technical skill sets that can elevate a product’s capabilities to greater potential, increasing sales opportunities and competitiveness in a crowded market.

But finding the right people who possess those skills can be a tall order for companies that insist on hiring strictly in-house employees. What if no one in the geographic area has the right skills to do the job? What if someone remote can do the job but is unwilling to relocate closer to the office to be there every day? Would you really pass up an opportunity to hire the right person for the job merely because you can’t keep an eye on them each day?

Follow these talent management best practices to hire the right coders for the right job, regardless of their geographic location. This will ensure that you build a talent pool of qualified candidates that you can maintain ongoing relationships for future openings that may come.

• Talent on demand helps you differentiate your product

The tech space is populated with thousands of different companies that each promote their solutions as the answer to all of your day to day challenges. It’s a crowded space that can make it very difficult to attract attention towards your product as the go-to solution for consumer needs.

That’s why it’s so important to invest in the right talent on demand who can elevate the status of your product to a status that truly differentiates from the competition. Product differentiation is a marketing strategy that helps companies gain a competitive advantage and build long-lasting connections with the target audience.

These relationships are the foundation for building a network of long-term repeat buyers; those buyers will go on to become loyal advocates for your brand.

• Remote talent reduces overhead costs for the company

One of the biggest expenses that any company can incur is the expense of office space. The average cost for office space by square foot in the United States ranges between $8 and $23. The actual number varies depending on total square footage and the number of employees you need to accommodate.

Suppose you have a team of 100 in-house employees. The cost alone to bring those people into the office every day could cost over $2,000, not to mention the cost of hardware, software, kitchen space, cleaning supplies, medical equipment, bathrooms, lighting, fixtures, and more.

The benefit of hybrid workforces is that talent on demand is remote; you don’t have to make space for those employees. Right off the top, you save an abundance in office expenses that can be reinvested into more profitable investments for the company.

• Talent on demand quickens development, scales growth

In the tech space, time is a premium that is rarely on anyone’s side. It’s why speed to market is a concept so tightly integrated with product development; faster deployment means greater revenue opportunities.

When quality products are on the market, sales teams have greater chances to hit their quotas and fuel growth for the company. A hybrid development team is one part of an interconnected sequence of events that enables companies to scale growth at faster rates. As more growth comes in, more opportunities to optimize the product present themselves. Optimization requires more skilled talent, allowing the cycle to repeat itself all over again.

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