USA

U.S. Technology Market Facts

Country Highlights

USA

OUR CORE GOOD

Budgeting

Budgeting:

Over 500 billion dollars budgeted for compensation to Software Engineering and Computer Science graduates, making them the most expensive types of talent to acquire locally.

Budgeting

Demand for Talent:

Increasing rapidly despite the increased cost to hire this type of talent. Job positions in computer programming are increasing twice as fast as the national average.

Budgeting

Scarcity of Talent:

By 2020, only 400,000 computer science engineers will be available to fill 1.4 million computing jobs.

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Scarcity of time:

The average hiring time in the IT sector is about 35 days, which can be very harmful to an organization’s schedule and financial status.

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Hiring cost:

Ends up being 1.5X to 3X the salary of the employee. Those costs are associated with Recruiting, Training, Salary, Benefits, and Productivity.

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Cost of a Bad Hire:

U.S. Department of Labor estimates a bad hire costs 30% of the annually salary for the first year.

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The Problem:

Due to talent scarcity (2.5 times greater than the market demand), increased labor cost, and endless need for talent the challenge of hiring and retaining the right talent has become a challenge companies deal with daily.

Budgeting

The Solution:

Look for viable talent options in countries that have a high supply of quality engineers and are actively pushing initiates to position themselves in the IT Outsourcing market.

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