NFQ Asia works to upskill software engineering talent in Asia
Press Release
As we transition into a post-pandemic recovery economy, global shortages for essential goods persist, including computer microchips, semiconductors, and fibre optic cables, accentuating the disruption in the supply chain that has occurred as a result of manufacturing suspension during the COVID years. This is inflated by the decade-long efforts of companies to downsize their inventories. Although these shortages are relatively new, what’s not new for the tech industry is the exacerbating lack of talent in the market.
The dynamic of the tech industry is credited as the prime cause for shortages of tech specialists and engineers, as they must be capable of managing workloads at the same time as upskilling to keep pace with tech advancements—all while adapting to modern ways of working collaboratively. In a 2019 survey, companies in the US alone reported over 900,000 vacant IT jobs, especially due to companies venturing into tech aspects of their business model, but also because of a lack of boot camps and training facilities to upskill labour.
Nonetheless, does this mean there isn’t enough manpower to facilitate? Not necessarily. Lars Jankowfsky, Founder and President of NFQ Asia, says that there is a drive “unlike any other” among developers in Southeast Asia, making countries like Vietnam and Thailand very “malleable” markets for tech support. “We now have international teams of locals and foreigners in both Thailand and Vietnam working together on projects with clients from all over Europe,” he adds.
By 2025, it’s estimated that there could be a shortfall of up to four million developers worldwide. An elemental reason these job positions go unfilled is the conventional hiring procedures used by recruiters, who approach applicant pools incorrectly. Programmers, developers, and tech experts do not seek jobs in the traditional manner. In most situations, developers prefer job opportunities where they can thrive in the face of challenges and get exposure to new opportunities. They typically do not look for jobs on traditional posting sites; instead, preferring word of mouth or opportunities found through mutual connections where they can thrive collectively with like-minded people.
How severe is this problem for the global tech and business industries? A lack of adequate software development professionals can halt growth and innovation across all industries. In comparison to 2020, the market for software developers sees an increased shortage of 60%. This shortage in software engineers is reflected in the wage boom, which shows no sign of slowing down. Companies that cannot afford to have these engineers on the payroll delegate tasks to less competent staff, resulting in burnout, frustration, and lack of job satisfaction in the workforce and team.
Retaining talent is another challenge. In the Emerging Risks Survey conducted by Gartner, Inc., “talent shortages” ranked number one under emerging risks of the tech industry, topping “accelerating privacy regulation” and “cloud computing” concerns. Some companies who can find talent suitable for their company culture end up losing them to larger companies with bigger budgets and better benefits.
If you are a business seeking to retain IT project managers and software engineers in this market, what is your solution? One viable option is to outsource to a team of dependable developers and managers, such as NFQ Asia, that is trained and equipped to provide high-quality and reliable tech solutions. By outsourcing to a quality tech team, you no longer need to worry about sourcing equipment, training, and upskilling staff.
NFQ has established itself as a hub for talented and reliable tech talent across Europe—and now, Asia. Whether your requirements are in the areas of quality coding to build apps or e-commerce solutions, data security, or the development of user interfaces (UI) and user experiences (UX), NFQ can offer a solution. The company is trusted by clients across the globe like KAYAK, HomeToGo, Shopware, and iPrice to deliver top-tier IT security, architecture, and user experiences.
While NFQ started in Europe, assisting startups through early stages to—for some—unicorn status, the company has expanded to Asia with offices in Vietnam and Thailand. They focus on robust and sustainable collaborative business practices to support clients.
“For us it is important that growth is always sustainable, which makes us the best IT employer in Vietnam for 4 years in a row already, taking care of our biggest asset, the people behind NFQ,” Jankowfsky said about NFQ’s work culture and team. He adds, “Expectation management is one of our key values. We don’t beat around the bush – we tell you exactly what we can do for you. NFQ’s competitive advantage is delivering against our clients’ expectations unlike any of our competitors.”
From early on, the NFQ commitment has been to provide clients with highly skilled and professional teams, with a base of over 1000 developers thoroughly vetted for their tech and interpersonal skills.
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