Trantor CaptiveCoE™ – Helping Organizations Overcome Tech Talent Crunch
A recent study on Global Talent Crunch – that analyzed the tech crunch on a country-by-country basis – found that by 2031, there will be a global skilled talent crunch, with the talent deficit being over 85.2 million people. This shortage of tech talent, if left unchecked and unmonitored, could result in more than $9 trillion of unrealized annual revenue.
Similarly, a survey conducted in 2020 revealed that around 65% of tech leaders in about 80+ countries had cited tech hiring as one of the most significant challenges in their industry. This makes two things evident – there is indeed a tech talent crunch reaching alarming rates, and there is a dire need to do something about this!
But to truly solve a problem, it is first essential to understand it. So, what causes this tech talent crunch? What are the reasons behind it? To keep things short, the primary reasons can be listed as follows:
- High attrition rates
- The rapid adoption of new technologies
- Increasing skill gap
- Utilization of tech talent for non-tech domains.
These reasons are by no means comprehensive, and a lot has gone on to add to this global tech talent crunch. COVID-19 pandemic also played its part in troubling global businesses regarding tech talent hiring, retention, and working. The good news, though, is that these challenges can be overcome using a more forward-looking approach!
Trantor’s CaptiveCoE™ – The Solution for Overcoming Tech Talent Crunch
Our CaptiveCoE™ allows you to scale your teams quickly without worrying about talent shortage. Experienced, trusted professionals at Trantor have worked for more than 90% of Global 100 companies and helped them scale their business. The CaptiveCoE™ model is designed to provide enterprises with co-branded, extended teams that scale on demand and allow for rapid business growth, including product development, data, and testing initiatives.
The CaptiveCoE™ model brings the best of outsourced and in-house and lets businesses overcome the challenges of both models while providing them with the benefits of both. Our model offers secure, scalable, and quick-to-market product development services. Trantor uses a collaborative approach through the various stages of development with a mix of long-term committed employees and shorter-term, project-specific developers.
We operate on the 3C model, with employees located in Chandigarh, California, and Costa Rica strategically. The idea is to reduce turnover by allowing engineers to work long-term with your business, essentially becoming as ingrained with your company as the in-house developers. Our retention rate translates to engineers that know your solution and can help you minimize time to market. Apart from just longer-term employees, Trantor also works with short-term developers to provide specific strengths and expertise to help you quickly scale up in particular directions. On completion of any project, the short-term devs roll off, leading to an overall more cost-effective and scalable partnership.
Trantor’s Captive Center of Excellence offers you the efficiency, scalability, and expertise of an outsourced model with the commitment of an in-house team. Contact us for more information about our CaptiveCoE™ and how it can help accelerate your innovation!