The era of digital transformation has come and gone, but some organizations are still lagging behind. Successful change means having the right resources — money and talent — in place. As US IT departments continue to bleed money trying to protect broken systems, it’s time for IT leaders to think about how to prepare for the inevitable recession, with massive tech debt and a lack of the right talent to dig out of it. .
Stop cutting corners
It’s a vicious circle. Instead of getting to the root of the problem and replacing technology, companies cut corners by working around (and even re-engineering) bad code and poorly designed software. While it may seem like you’re saving a few dollars in the short term, the reality is that you’re losing money—and year after year.
A recent study by Stripe and Harris Poll found that the average developer spends 42% of their time dealing with technical debt and maintenance issues, of which 3.8 hours are spent just debugging “bad code” that is difficult to maintain. The cost of bad code isn’t cheap – IT departments choose to save $85 billion a year on bad technology instead of building or buying better software.
While it’s easy to blame it all on bad choices and budget issues, a critical shortage of essential skills digs the hole deeper.
Hire the right people (and let them do their job)
We’re all tired of hearing the impact of the Great Resignation, but the reality is that it has left many tech companies and IT departments high and dry. While the skills shortage is a global issue, in solving America’s tech debt, a shortage of software developers and engineers is forcing people with jobs to be misused and focused on maintaining toxic legacy systems. If deployed correctly, a report by Stripe shows that this talent pool could add $3 trillion to global gross domestic product (GDP) over the next several years.
A severe shortage of skilled manpower has been exacerbated by various factors ranging from lack of training, to burnout of experienced workers. According to the Bureau of Labor Statistics, the software engineer shortage in the U.S. will reach 1.2 million by 2026 — a sobering statistic for an industry already billions in debt.
If you can’t build it, buy it.
Although it may seem difficult to spend more after spending more, knowing when to let go can save big dollars in the long run. While the most popular business software solutions come with a hefty price tag and a team of consultants to get you off the ground, not all solutions are created equal. Shop around – the solutions you need are out there. Audit what you have, notice the features you use and don’t use. Not only does this save money on the software itself, but it can also help to buy a solution that is easy to test, buy and use. A recent report found that out of 9,000 workers surveyed across industries around the world, nine in 10 are frustrated with technology in their workplace – and nearly half are considering changing jobs.
Develop a strategy for success
Planning for the future is a must — and having software developers and engineers at the strategic planning table is critical. Involving front-line staff helps ensure you have the right product roadmap and the right people and technology. Not only is technology debt a strategy that focuses on the future rather than reducing it now, it also saves you from employee turnover. If you don’t waste your developers’ time, they’ll get back to doing the work they need to do — and want to do.
As digital transformation continues, it’s time for IT departments to give employees what they need—the right tools, the right team, and the autonomy they need to boost productivity and fill the gap in tech debt.
