IT Staffing Trends for Product Companies in 2020
While a recession like the current COVID 19 present the challenge of sustainability and survival, they also usher in an era of opportunities for IT product companies. The COVID-19 has already initiated an era of transformation in the way companies recruit and execute work. The core strength of the companies will lie in digital adoption and realignment of policies and procedures.
According to the 2020 State of Staffing Industry Growth Benchmarking Report, several things changed in the past few months including strategies, tactics, and priorities on staffing.
Priorities before the Pandemic
The 2020 State of Staffing Industry Growth Benchmarking Report identifies three clear staffing trends before the pandemic. These are (i) Candidate experience and automation, (ii) Focus on finding talents, and (iii) consistent sourcing tools over the years.
The two key drivers of success for the companies till as recently as before the pandemic had been automation and candidate experience. The most challenging obstacles for the companies had been to find and recruit talented manpower. Thirdly, the top sourcing tools, according to this report have remained relatively consistent with previous years. In other words, the manner of sourcing manpower had not changed for years.
During the Pandemic
In the wake of the current pandemic, the companies have been faced with the challenge of having to cope up with the adverse circumstances while keeping the wheels of the companies running.
According to recent reports, many staffing firms were compelled to resort to deep layoffs to ensure businesses continue to run with a lean staff. All staffing firms, according to the 2020 State of Staffing Industry Growth Benchmarking Report, now have a mandatory requirement of learning how to work remotely. Nonetheless, despite the current challenge, most of the companies strongly believe that they are going to emerge stronger post-pandemic than before.
Cost Saving Measures
According to a recent Gartner Survey, increasingly more organizations (32%) have begun replacing full-time workers with part-timers in their attempt to cut costs. Gig workers also come with the advantage of having to flexibly manage the workforce. Nonetheless, questions like whether gig workers will get the same benefits as the full-time workers are not fully addressed. In addition, the HR needs to work out how they are going to apply the performance management system to contingent workers.
In conclusion, it is evident that IT staffing trends for Product companies have witnessed a sudden and rapid transformation that has come to stay. The companies and workers both may have discovered a win-win solution that addresses challenges associated with traditional work and hiring policies.