As the development of product design in the technology industry continues to grow, you may be finding yourself with more responsibilities and overwhelming tasks to maintain momentum. Mitigating costs and maintaining deadlines/deliverables has been a huge challenge for many organizations who are rapidly discovering a shortage in the available localized talent pool. This is especially true in areas where the cost of living is highly prohibitive such as major tech hubs such as Silicon Valley, Montreal, Toronto, Seattle, London, etc...
Economic uncertainty and rising inflation may have added more challenges to the mix as your organization may be facing pressures to reduce overhead and other fixed costs. In 2023, almost 169,000 people have been let go since the beginning of the year, compared to the 164,411 lay offs in the entirety of 2022, according to data tracker Layoffs.fyi.
Outsourcing is becoming more common across many industries, and the trend may be increasing given the economic uncertainty. Flexible work options coupled with changing economic headwinds may be prompting you to rethink your approach to sourcing talent. Under rapidly changing economic conditions, the added pressure to thrive requires an eye on agility and the right mix of contract employees and permanent hires.
A convergence of trends is creating a unique moment in tech sector hiring. During the pandemic and with rising inflation, you may have had to decrease your workforce, and are running leaner today. If you do not have the internal resources or headcount to meet dynamic business demands, turning to contract hiring with product design firms like Motus Design Group can help you to fill skills gaps, seek flexible talent solutions that meet resource ramp-up needs.
Cost Savings & Efficiency
One of the most significant benefits of outsourcing is cost savings. By outsourcing key functions, and in some cases handing off entire project management portfolios, you can avoid the costs associated with hiring and training staff, as well as the overhead costs of maintaining a growing department. As your organization increases its head count, additional HR resources are required, which further increases the overhead costs. Outsourcing can provide cost savings through improved efficiency and reduced administrative expenses.
The typical hiring process at large firms can take several months, followed by weeks of onboarding process. The result: many candidates are quitting before they even start their first day. Contracting sidesteps these challenges. Because of their expertise, they likely won’t need as much time onboarding and are ready to hit the ground running. This amounts to huge cost savings at the administrative level.
Other cost savings can be made through setting priorities and allocating appropriate resources that best serve your business. As part of the pathway to introduce new innovations, you may be required to extend the life of existing products, while freeing up internal resources on new development of innovation. This could involve goals to modify or optimize an existing design to drive down the bill of material costs, thus increasing profit margins. In many instances, you may be facing component and material shortages, which would require some iterative design changes to maintain.
Access to Expertise
Outsourcing key design functions can also provide you with access to expertise that may not be available in-house. Product design firms like Motus have a team of professionals who are experienced in various areas, such as project management, hardware design, electrical design, firmware/software design, data science, de-risking, and compliance. These experts can provide you with the knowledge and resources you need to manage your product ecosystem effectively and efficiently.
Compliance and Risk Management
Design compliance and risk management are critical issues for any company, and this is especially true for technology companies. There are unique compliance challenges related to data privacy and security, as well as regulations related to intellectual property and industry standards. The critical transition from prototype to “design-for-manufacturing” can be very complex and can lead to significant non-compliance issues during the manufacturing stage, especially in highly regulated industries such as medical, mining, military, transportation, marine, and aerospace. Motus has the knowledge and expertise to ensure that you are following all relevant regulations and can provide guidance on compliance issues as they arise.
Flexibility and Scalability
Finally, outsourcing can provide you with flexibility and scalability. As technology companies grow and evolve, their product development and design needs may change. Outsourcing functions allows you to quickly adjust your resource strategies and services as needed, without having to invest in or overburden HR resources or hire additional staff.
Businesses in all industries want to move faster and more efficiently–– and that’s exactly what Motus Design Group offers when they become part of your talent mix. Whether its addressing critical launches or updates coming within the next year, scaling operations, changing manufacturing processes, or modifying bill of materials, Motus can do it all.
Product Design talent exists around the world. Limiting your pool of candidates geographically or to only include permanent hires can hinder your chances of success when looking for talent that keeps you moving forward. Partnering with Motus Design Group gives you access to exceptional talent across all design functions and the Project Management Expertise to tie it all together. You can find the best product design specialist to solve your business challenges. And since those challenges are constantly changing, you can stay nimble with the right support for each situation.