Top 10 Indicators That Nearshoring Is a Strategic Choice
Here are the main indicators that might be a good reason for a company to expand their software development teams through nearshoring:
Increased Workload: A sudden surge in project volume, an influx of new clients, or an expanding product portfolio can lead to an increased demand for software development resources. Companies facing a higher workload may be seeking to expand their teams to manage the additional projects efficiently.
Missed Deadlines or Delays: Consistently missing project deadlines or experiencing delays in software releases may suggest that a company's existing development team is understaffed or overburdened. This could prompt them to explore options for team expansion, like nearshore.
High Attrition Rates: If a company is experiencing a higher-than-usual turnover rate among its software development team members, it could indicate underlying issues such as a heavy workload, lack of growth opportunities, or dissatisfaction with the work environment. To counter this, they may be considering team expansion to alleviate the strain on existing staff.
Desire for New Skill Sets: As technology evolves, companies often need to adapt and acquire new technical skills to remain competitive. If a company expresses interest in branching out into areas where they lack expertise, they may be looking to expand their software development team with specialists in those domains.
Long Recruitment Cycles: Prolonged recruitment cycles, where it takes a company a considerable amount of time to find and hire qualified software developers, can signal a shortage of available talent in the market. This scarcity may prompt a company to consider partnering with external teams to expedite their projects.
Scaling for Growth: Companies with ambitious growth plans may seek to expand their software development teams to support their expansion initiatives. Whether entering new markets or introducing new products, they will require a robust development team to execute these strategies.
Complex Projects: When a company is tackling complex, large-scale projects that require specialized skills and expertise, they may consider expanding their team to ensure the successful execution of these initiatives.
Geographic Expansion: If a company is planning to expand its operations to new regions or markets, it may need to set up new software development teams in locations like Portugal or Brasil, to cater to local requirements and preferences.
Rapid Technological Advancements: Companies operating in industries with rapidly evolving technologies, such as AI, blockchain, or IoT, may need to expand their software development teams to stay ahead of the curve and capitalize on new opportunities.
Pure Company Expansion: Lastly a company seeking to expand to other markets might consider nearshoring as a doorway to be closer to target countries.
In conclusion, recognizing these indicators is key when searching for a nearshoring partner. By understanding the needs and challenges, at Velv, we can position our services effectively and offer valuable solutions to address your expansion requirements.
Reach out to us to know more!