The COVID-19 pandemic has turned the world upside down in many ways and the software development world has been no exception. Let's take a look at two key things that COVID-19 has changed and why it's crucial for your company to adapt.
While many software companies already had a remote working strategy in place, the pandemic has pushed the concept even further. Many companies are now offering the ability to work fully remotely. For example, Twitter has committed to "forever" remote working and PayPal went even further by closing its downtown San Francisco offices.
Companies that decided otherwise by implementing a return-to-office policy, such as Apple, faced a heavy backlash, with employees saying they would quit rather than return to the office. Apple is far from the only company in this situation, and competitors have seen it as an opportunity to poach talent, offering full remote working to disgruntled software developers, which made for some very easy hires!
There is no need to go "all or nothing" when it comes to adopting this solution in your company. Hybrid work is the future, with a combination of on-site, partially remote and fully remote work, depending on individual preferences. Your employees will be happier because they can live a much more flexible life and you’ll be happier too by being able to tap into the world’s top talent pool and significantly reduce office building costs.
As a direct consequence of full remote working, many companies that used to compete for top talent locally or even nationally are now competing internationally. A talented software developer living in Amsterdam may now receive offers from Uber in his city, Facebook London or AWS Seattle. Companies seeking top talent have reported salary increases of 30 or 40 percent – or even double in some cases – to match higher salaries, typically those in America.
As usual, GAFAM and other leading companies were the first to respond to these changing circumstances and dictate new rules. However, don't make the mistake of thinking this doesn't apply to your situation. If the ability to attract and retain top talent is critical to achieving your goals, expect to be affected in some way by this ripple effect and prepare yourself so you remain competitive in the war for talent.