As tech staffing specialists, we’ve worked with various companies over the years. From major corporations looking for short-term contract-based assistance on major projects to bootstrapped small businesses who need to outsource an entire IT team temporarily, access to on-demand tech staffing options makes running a business in 2022 easier, more efficient, and less stressful.
One thing that isn’t easy and can be incredibly stressful? Setting a viable tech staffing budget for your team. It doesn’t matter whether you have 5,000 employees or 5 – how you budget for staffing can make a huge difference to your bottom line.
Spend too much recruiting, training, and hiring full-time or contract-based tech workers, and you’ll run the risk of paying a premium for skills you don’t need while other aspects of your operation suffer. Underinvest in your tech staffing, and you’ll struggle to keep pace with your industry and adequately staffed competition.
Striking the right balance is important, but there’s no one-size-fits-all answer. A tech staffing budget is something that varies significantly based on the size, scope, and operational needs of your company.
Here’s an analogy I like to use: If you live in Denver, work from home, and only use your personal vehicle to travel within the city, it doesn’t make much sense to purchase a $90,000 truck since you are not going to get $90,000 worth of value out of it.
In this scenario, you would be better off buying a smaller, cheaper alternative and using the money you’d save on rent or mortgage payments. If the need for a truck arises, you can always rely on short-term rentals from U-Haul and related companies.
If you live outside the city and have a job that requires the routine transportation of heavy, bulky items, then the expensive truck might be a better fit. Long-term, it’s cheaper to just buy the vehicle than it would be to book short-term rentals from U-Haul continually.
For people in the middle, say a construction professional and avid outdoorsman that lives in a major city, a compromise or hybrid option could be the way to go. You need a vehicle that can transport your tools and camping gear…but do you need a $90,000 top-of-the-line option? Probably not. A more affordable truck or van will be just as effective.
In short, there’s really only one way to set a tech staffing budget: analyze and assess your requirements, then go with the most cost-effective option possible.