WEF_Special_Edition_European business magazine spring 2022_web

Page 52

Aciety Is Solving The Talent Shortage In The Blockchain Technology Sector

T

here has long been an increasing lack of talent when considering the programming needs surrounding new technologies such as Blockchain. This shortage has existed due to what can only be described as rapid changes in the field due to a renewed drive in digital technological changes, which in fields like blockchain has created a steep rise in costs that made specialist staff and maintaining them full time difficult, especially when considering the decreased workload which has accompanied such changes. The financial position of businesses has also been further impacted by the impact of the Covid-19 pandemic, where the costs incurred from such technological change only accelerated when there was no longer the demand to keep companies being able to afford the workforce. To detach themselves from such burden, business methods have now focused on more budget friendly means such as outsourcing, in the attempt to become more agile and better serve their clients on a smaller spending cap. But solving the issue isn’t quite that simple, as the focus of the business is affected by these changes in the state of operations. Tackling the problem focuses on the ability to sourcing staff with a deep talent focus that allows businesses to connect IT teams with corresponding software teams quicker and with less cost or overheads versus traditional means. Digitalisation has created the ability to innovate and become more resilient with more competition of a higher quality and the in demand for staff able to work effectively, making it much harder to attract the right calibre of staff in an affordable manner due to the lack of these skilled workers. This makes the ability to partner with firms providing such talent crucial, needing to create solutions that

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allow this need to be filled as soon as the demand exists, especially as competitors may have the ability to move quicker and dominate. Outsourcing has now become the need to survive, rather than being the innovative alternative it was once seen to be. More traditional, fixed businesses are no longer able to avoid the uptake, with the pandemic opening the minds of many, as the obligation to work from home meant that 51% now apply that arrangement to their situation, up from 31% and expected to reach up to 81% by the time the market finally settles. Development partnerships are helping to fix the issues faced in the past, and companies such as Aciety have provided a pre-vetted supply solution that responds effectively to the needs of the market, while minimising the security risks and the concerns surrounding ineffective staff, leading to employers feeling less like they are compromising on their aims by changing their existing operational strategies. This has meant that the pressure of the developing market is being settled by the constantly growing list of working partners who can alleviate the risks that they could be operating more affectively whilst continuing to challenge and be effective in their practices. In fact, there is a reduced risk factor through taking the opportunity to outsource, with it creating flexibility and agility in market movements, renewing focus into the necessary outcome without needing to personally control or personally run the process of motivating and assessing the workers responsible for the output. This creates a system of proactive governance that allows you to keep project control, even while it is out of your hands, building systematic structures that increase the level of attainment while you reduce the personal

workload and need to control the situation. Software application development is seen as the most frequently outsourced function among the many sectors of IT, therefore helping to evidence the future of the industry, with expectations meaning that the market is expected to grow continuously until 2025, which will signal 10 years of consistent development.


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Articles inside

Building Remote Partnerships

21min
pages 91-100

Schroders, Aviva and other UK asset managers seek to profit from demand for biodiversity-focused investment products

4min
pages 84-85

AI In Banking: Hype Or Revolution

5min
pages 88-90

Building a finance function from the ground up

3min
pages 86-87

Cryptocurrencies: Why they’ve crashed and what It may mean for the future

3min
pages 82-83

Venture Capitalists Pour Into NFTs

6min
pages 80-81

Not all Intent Data is created equal

5min
pages 78-79

What You Need to Know About Ad Fraud

8min
pages 68-70

Is the metaverse as disruptive as it should be

5min
pages 66-67

How shops and retailers use psychology tricks to influence your purchasing decisions

4min
pages 64-65

European Business Magazine talks to Esha Mansingh

25min
pages 54-61

Aciety Is Solving The Talent Shortage In The Blockchain Technology Sector

4min
pages 52-53

Ukraine war’s surprising links to the 2008 financial crisis – and the parallels with 1939

5min
pages 62-63

What the explosion in Uranium prices means for the nuclear industry

5min
pages 50-51

Things that economists know, but sound wrong to other people

5min
pages 48-49

The truth about the ‘great resignation’

4min
pages 46-47

Global AI-powered Order-to-Cash platform

7min
pages 41-43

Global Coordination Could Unlock more Efficient Trade, New TradeTech Report Reveals

5min
pages 38-39

Private equity firms can be catalysts to fighting climate change, here is how

4min
pages 34-35

News

49min
pages 8-26

Why Businesses which are being hit by tax hikes and higher energy costs will hurt the poor

2min
page 40

Between a rock and a hardpalce

6min
pages 28-29

Davos Agenda Closes with Calls for New Models of Public-Private Cooperation

6min
pages 44-45

Preparing for the wave of Covid Related Disputes to hit

3min
page 27
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