Startups often have limited budget as they strive to develop a cutting-edge product to spur growth. In 2022, 47% of startups failed due to running out of cash. Whether it’s poor financial management or dearth of sufficient funding, one thing is clear — startups are under pressure or making extremely wise choices when it comes to any aspect of product building. Especially when it comes to making hiring choices.
In this blog post, we’re shedding light on the proven strategies to save cost on hiring software developers. We will prove that there’s no need to go broke pursuing the best talent.
Choose Location Wisely
Location of the development team is game changing for businesses. Business environment market demand, and mainly cost of living within a country — all impact the rates of local developers. In most cases this is why, programmers from US of Western Europe would charge more than their Eastern European colleagues. Sadly, the difference in price tag is often not reflected in the performance of a final product.
Hire Software Developers from Eastern Europe
Eastern Europe has emerged as a hub for skilled software developers. By tapping into the talent pool of Eastern European countries namely Ukraine, Latvia, and Poland you can find highly qualified professionals who offer competitive rates. For instance, while hourly rates of US developers range from $75-150, the cost of stellar expertise of Ukrainian developers rarely exceeds $50.
When hiring software developers for your startup, traditional in-house hiring is not the sole option. Even though recruiting and maintaining a full-time team may seem like the traditional approach, it leads to overhead costs associated with employee onboarding, strict employment rules, spending on office facilities, insurance, and more.
Save on Budget with IT Outstaffing
IT outstaffing is a hiring model which implies that IT personnel required is provided to a client by a third-party contractor. This is the golden key for companies on budget to hire talented developers. First, with IT outstaffing, all expenses on working facilities, vacations, insurance, and taxes lie on the shoulders of service provider. Second, with IT outsourcing, a client only harvests the expertise of developers without investing in educating them. Third, there’s no need to spend on HR services. All you need is to discuss the project requirements and the IT services provider https://www.voypost.com/it-outstaffing-company will pre-screen and select the best matching candidate.
Have a Clear Scope of a Project… and Communicate them Well
Limited budget seems to leave very little place for mistake. Every constraint, every assumption, and every revision can add to the software development cost. To avoid overhead costs, make YOU understand the project scope, and requirements and can communicate them clearly. In addition, this will help developers give accurate estimations on time, tech stack, and consequently, the budget needed to build a product.
Engage Professionals with Proven Expertise
Sounds suspicious at first since programmers with proven expertise will charge more that young and hungry. Nevertheless, one of the best strategies to save cost on hiring software developers is to look for those who have a track record of successfully delivering projects similar to yours. Experienced developers can bring valuable insights, reduce the learning curve, and deliver high-quality work efficiently. While it may be tempting to hire less experienced developers at a lower cost, it can lead to longer development cycles and increased costs in the long run.
Agile methodology involves breaking a project into milestones to receive feedback early on and make necessary adjustments without significant rework. It emphasises continuous revisions and improvements as well as allows for better control over each stage of the development cycle. The agile approach reduces the likelihood of budget overruns not only by delivering value incrementally but helping to clearly predict the specialist needed during each stage and timelines to complete the project.
Save Cost on Hiring Software Developers with Voypost Talent Pool
One effective way to save costs on hiring software developers is by leveraging the talent pool provided by Voypost Talent Pool. This innovative platform aims to connect businesses with competent developers from around the world, mainly from cost-effective locations such as Eastern Europe, Asia, and Latin America. Voypost takes care of the entire hiring process, including robust candidate screening, interviews, technical assessment, and testing the fluency of English. Besides, you can cancel or replace the candidate during the first month absolutely for free.