5 Secrets for Startups to Survive in the Resignation Era
As the world copes up with the latest COVID-19 variant, the impact on business plans to restart and reach previous levels is getting hampered across industries leading to operational challenges for organizations. Companies especially Startups are finding it difficult to adapt to the new market needs and expectations generated as a result of this global pandemic.
Industry reports and patterns suggest that employees are increasingly looking for new opportunities to work with higher flexibility and income which has been coined ‘the Great Resignation Era’. While Startups are rushing to fill short-term talent shortages, a longer-term transformation is underway that will change the talent sourcing landscape forever. The shortage is resulting in a lot of adverse factors like driving up costs for businesses with anticipation of a further increase in the cost of
software engineering in the near run.
Here are 5 secrets that can help Start-ups to tackle this Great Resignation Era without the added cost of hiring:
Secret 1 - Location no longer a deciding factor
With the new normal taking over in the last few years, remote working has started a new and productive trend for Startups that are looking to go on for long. Employees have proven that they can productively and effectively work together from locations all around the country and the globe. Location no longer needs to be a deciding factor for a talented candidate, and the sooner and more widely that mindset is fully adopted the better it will prove for companies, employees and the product. By identifying the challenge early on and seeing location barrier as an opportunity rather than a threat, businesses will have a higher chance of growing their organization.
Secret 2 - Engage With Your Employees
It has never been more important to focus on engaging with your employees and co-workers in your team. When top management and managers can engage with their talents, keep a fun environment and gather suggestions and feedback from employees, it has been observed that Startups can significantly lower their attrition rate and increase employee retention with greater satisfaction. From investing in team-building activities to speaking directly to your employees, there are plenty of ways to boost their satisfaction, morale, and engagement.
Secret 3 - Automation
With changing markets and industry trends, it has become crucial for Startups to implement process and workflow automation along the lines of digital transformation before it is too late. From streamlining your smallest task to accurately processing your overall business workflow, process automation is a practical solution for all organizations with employees working both at home and in the office. With remote working taking over, it is very crucial that regular processes are automated and that contact is minimized for all employees.
Secret 4 - Cost Optimization and Management
With new working methods and a sustainable remote working environment, organizations have witnessed major cost cuts when it comes to operational and team management costs. With higher savings, firms should channel these savings for better purposes such as skill enhancement and development of employees, launching better employee perks which include Insurance, gifts and other motivational activities. This can result in higher productivity and a better-connected environment for all employees even with remote working ongoing.
Secret 5 - Staff Augmentation and its benefits
With the rise in demand for tech talent, staff augmentation has started becoming a normal practice for all Startups who are looking for software development. Staff Augmentation allows you to work with an experienced tech partner from across the globe and avail end to end services based on the business vision without the added burden of hiring and maintaining an in-house tech development team. With Staff Augmentation, a Startup can meet their growing demand of resources quickly. Also
they do not have to invest in staff welfare, compliance, perks etc. since they do not own the staff.
Based on your business demand you can add or remove staff with Staff Augmentation. It is adopted by major Startups who are looking for affordable cost options for technology or software development as they can simply outsource it. Recently some of the business Startups where co-founders are not from technical background started outsourcing whole IT development to trusted partner where a trusted partner can help them for services including virtual CTO, VP of Engineering,
engineering team to Quality assurance.
By adopting the above secrets, many Startups have already started to reap its benefits and have taken this pandemic as an opportunity to change business structures for the better. With years of experience and a diverse talent pool, Techify Solutions provides you the perfect platform to adopt automation through staff augmentation which results in effective development at affordable costs. With bringing the right mix of technology, expertise, and services that will help you achieve your business goals, Techify Solutions is the ideal technology partner you are looking for.
Contact us today to find out how we can help you tackle “The Great Resignation” through digital automation and transformation.