Summary of a great event: “How to spread your risk in hiring and managing global development teams in times of disruption
This meetup is our first offline event since the start of COVID-19 pandemic. The event was organized with the support of Microsoft start-ups. Tel Aviv city hosts the venue with the location on the 50th floor which offers gorgeous city views. In addition, we also brought together leading speakers and technical leaders whose experience and competence allowed us to make our audience familiar with various approaches to reduce financial costs during times of crisis and create a platform for further cooperation.
What can be done if the company was affected by the crisis in 2022?
According to research, the business recovery in the post-crisis period takes about 4 years; in order to accelerate this process, it is necessary to introduce anti-crisis strategies into the company’s activities. Let’s single out 2 ways of development in the new realities for risk management: merger and diversification strategies.
1) merger strategy – to merge with other stronger companies to open up new opportunities and growth points.
2) diversification strategy – to continue building a team and creating products in various parts of the world, to manage business processes in different countries and regions, to use the “geography dispersion” strategy.
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Countries, their prospects and opportunities during the crisis for IT companies.
“Following the correction/crisis in the market, many companies are slowing down/freezing manpower raising in order to examine streamlining measures,” – said Alex Lyhovez, the Partner & VP of Global Business Development at SPS-APP.
That is to say, companies are not sure whether to hire staff during a crisis (in the shadow of crisis), although this process can be optimized and benefited from it. We are provided with unique opportunities and new channels for finding employees, for instance, to form a suitable team in another country.
One of the event topics was the selection of the promising recruitment channels and countries where win-win specialists can be attracted.
Ukraine — despite the wartime conflict, many IT specialists remained in the country and ready to effectively generate ideas and take on projects.
Israel – advantage of this country is the increased number of repatriates. They want to be part of start-ups and are professionally competitive.
Georgia – which attracts with its not harsh tax climate and relatively low spending costs.
Such countries as Poland, Romania, Bulgaria may also be among possible options.
CEO Roma Timoshpolski has identified several points that allow companies to cope with risks and not only stay afloat in their industry, but also get the opportunity to become a market leader.
Steps to get out of the crisis:
- formation of global teams – attraction of like-minded people from different countries and regions;
- evaluation of the labor market and proper budgeting, so that, given the optimization of the team size, to know the financial costs of hiring new employees;
- correct distribution within the team of different levels of specialists’ experience: junior, middle, senior. During the crisis, need to consider the fact that training juniors can become more profitable than spending on salaries to attract seniors;
- creation of the offshore dedicate teams that are perfectly suitable for the b2b IT market;
- searching and testing of effective recruitment channels.
And the key idea is to consider the risks and their impact on the business before the crisis itself when its consequences are still easy to eliminate.