Staff augmentation is a trend that has shown massive impact on businesses and the need for staff augmentation is growing by leaps and bounds. It refers to the act of adding staff to a company, either through hiring new employees or via outsourcing. Staff augmentation is most commonly used by companies when they want to expand their market reach and increase their number of customers. It is also used by businesses that are looking for more efficiency or cost savings in their operations.
While it's not necessarily a new concept, the way we use it has changed. In the past, staff augmentation was most commonly used to fill gaps in key roles—for example, when your team member left unexpectedly or got sick. Now, however, we're seeing companies using staff augmentation to add more value to their products and services by increasing the number of people who can execute them.
“In a recent report, a leading market intelligence company forecast that the global staff augmentation services market would grow at a 3.53% CAGR between 2021 and 2025, reaching a total incremental spend of $81.87 billion.”
If you also wonder how? Well, there are many reasons why companies opt for staff augmentation over other methods of expanding their business. For example, if you have a large number of employees, you may be able to save money by hiring an outside company to do some work for you instead of doing it yourself.
This can also be beneficial if you have a lot of specialized skills and expertise in your organization but not enough people available to handle all the tasks at hand. In this case, hiring additional employees will allow you to grow your business without having to hire new employees from the outside world!
But how to understand whether you need a staff augmentation or not? Staff Augmentation is one of the most common trends in the workforce. Still businesses finds it difficult to understand whether they need it or not?
Here are few reasons that might be a red flag for your business.
1. Your team is underperforming
If your employees are performing at lower levels than what they're capable of, it's likely that you need to hire new ones!
2. You're losing business
If customers are unhappy with the quality of service they receive from your employees, it's probably time for them to find a new place to do business!
3. Your competitors are hiring more people
If other businesses are adding more staff members than you are—and this trend is getting worse—it might be time to start looking into ways to increase your own ranks!
4. Your clients aren't satisfied with their current options
If your clients feel that you are not able to fulfill their needs and requirement or reach their desired goals. In fact, according to a report, Staff Augmentation has been on the rise for the past decade. In 2018 alone, there were more than 100 million staff augmentation projects globally. That's a lot of work which means there are fruitful results through staff augmentation and with time they are grown to next level.
We've got 5 top trends that your company could benefit from staff augmentation:
1. Narrow Full Time Workforce
The world is going through "The Great Resignation era" due to post-COVID lifestyle changes. In India, around 2.3 Million people resigned from work in 2022. It is also because this has become increasingly difficult to attract high-quality talents. This is where IT Staff Augmentation comes to rescue. Companies can take assistance from their IT Staffing Partner without being required to provide an in-house front-end, back-end and other technical staff. At the same time, the companies can also overcome the shortage of qualified IT Professionals that may be affecting them at the moment.
2. Remote Work Style
Digital transformation strategies encourage equipping employees with tools to flexibly balance their work and personal life – including familiarizing themselves with mobile and flexible work arrangements. By adapting quickly to this pattern, IT staff augmentation can help companies hire resources that can work remotely as per their schedule. This can leverage any workforce gaps and engage virtual resources to work for your clients seamlessly.
3. Necessity of Cyber Security
Another major impact of remote working is increased risk of security breaches and cyber attacks. As projects span the globe, it’s essential that companies have specialists who understand how to defend against these attacks and understand when breaches have occurred. In the modern world, the necessity of cyber security is more important than ever before.
4. Global Market Accessibility
Companies can tap into the global market to hire top talent partly. Remote workstyles make it convenient for companies to reach out and hire to high-quality resources thanks to the help their staffing partners. IT staff augmentation makes it easy for companies to hire resources from world-wide, ensuring there is no limit to resources accessibility.
5. Focused On Soft Skills/IT Skills
It is important to look for resources that have a mix of both soft and hard skills. While hiring any employee whether for short period or for long term these only expert and technical skills are not required. While Staff augmentation is about hiring a talent that works with your team, therefore both technical, IT skills and soft skills like interpersonal or people skills are a priority to get productive & efficient results. Depending on the company's needs, they may place a greater emphasis on one type of skill over the other.
Conclusion
IT staff augmentation companies will take the pressure off your existing team. You can utilize your needs, set your budget, and personalize staff accordingly. The benefits of IT staff augmentation services have proved that they are a win-win combination for everyone around.