The word “shortage” has become part of our news headlines recently and it is causing some major issues. Shortages of everything from lumber to microchips and even workers are causing prices to rise and making our lives (both personally and professionally) more challenging.
Whenever possible, the best way to avoid being a victim of a shortage of a specific good / service is to find an alternative that is plentiful. A timely example of this is happening with fuel. As the price for a gallon of gas approaches $5.00 in CA, those that have invested in alternative energy sources are all smiles. If you own an electric vehicle and you power your home from solar energy, chances are you are not directly impacted by this. You can re-charge your vehicle at home and the costs of doing so have only fractionally increased recently.
The same is true for those in the insurance industry that have turned to international markets to find and hire technology talent. With a major shortage of software engineers (and other IT resources) in the United States, smart insurers, brokers and others are finding that they can avoid being in the labor shortage by simply expanding their reach outside the United States. In many parts of the world, world-class software engineering talent now exists and in a labor market that is not nearly as competitive.
It can however be quite hard to find and recruit this talent. That is why many are turning to firms like Insurance Tech Talent for help. ITT has a large reach into many talent pools where great software engineers are eager to work for U.S. companies. These engineers often have strong English language skills, are highly educated and are happy to work during the U.S. business day.
Most experts believe that the labor shortage in the U.S. will be a major issue for the next decade. You can avoid it by going outside our borders for the talent you need.