An increasing number of enterprises and startups consider India a primary destination for software offshoring. The core reasons for hiring offshore developers from India are driven by a strong economic value proposition, like:
- Unparalleled Quality
- Exceptional Cost Saving
- A quick approach to market
- Access to the bigger talent pool
The above points make India a favorable destination to offshore your IT project. And, if you are looking for reliable offshore developers to cater to your business’s emerging needs but are perplexed about which hiring model suits best for you, here’s the answer!
Choose The Right Hiring Model That Address Your Need
While hiring developers, there are multiple developer hiring models available in the market to choose from. But if one looks closely, the models are primarily divided into two categories.
- Developer’s Hiring Model -Based on Pricing
- Developer’s Hiring Model Based On Methodologies
Undoubtedly, the different developer’s hiring models offer utter convenience with numerous benefits along with streamlining and fast-tracking of work.
But how to choose the right fit for your business?
So, let’s take a look at the different engagement models and evaluate all the pros and cons.
Developer’s Hiring Model -Based on Pricing
Your Team In India offers different business models for delivering its exclusive services across distinctive business verticals irrespective of business nature and size.
Learn more about our Developer Hiring Models here.
The Fixed Price Hiring Model
The fixed price model is a perfect choice when you have a fixed project scope that won’t change for a specific period. The client in this model hires developers outlining their requirements and budget for the software development project from the very beginning.
It is generally a time-bound project, where the developers are to deliver the end-to-end software product in a pre-defined time frame and predetermined budget. The client is not liable to pay for delays in project delivery by developers.
Thus the developers provide a concrete timeline to complete the work and provide an MVP (Minimum Viable Product) and final software product/solution to their client.
- It offers predictability to the software development process as requirements are outlined in the beginning.
- The requirements are transparent as the payments are based on the outline of the percentage of the work done.
Best suited for:
This model is best suited to when the project’s scope of work, requirements, and deliverables are decided and locked upon in advance. The cost estimate is built based on the pre-determined scope of work, and there is less than a 5% deviation after initiating the work. In case of any major deviation from the decided deliverables, the cost estimate is revised and updated to include the new scope of work.
This model works best for small-scale projects ranging from 1-3 months to be built on waterfall methodology.
The Hourly Rate Hiring Model
The hourly rate hiring model works best for a dynamic software product/solution that needs iterations and updates. In this model, the developers are paid based on hours spent on the IT project. The hourly rates vary from region to region and development requirements.
The client gets access to tools that track the work done by developers and the number of hours spent on the project. This helps bring transparency in billing and payments.
- It is a budget-friendly model that allows you to use resources wisely
- Provides transparency in the quality and quantity of work delivered
- A quick and efficient way to upgrade your product
- It’s easy to track and gauge the completed task with assured quality work.
Best Suited for:
This model is best suited for product engineering or new product development, where you seek to hire highly-skilled and qualified developers to work on agile methodology. The developers are aligned directly with you and get full visibility on ongoing projects. Ideal for small-scale projects where you sought a flexible mode of operations.
Monthly Based Model
Monthly based model proves to be the right choice when you plan to hire an offshore model for a dedicated project with an estimate of 160 hours in a month. Besides, this hiring model allows you to manage your team using your methodologies.
This model predefined the budget and monthly cycle before the project’s initiation. The client pays the amount agreed in the contract, despite any challenges during the project.
- The monthly hiring model benefits long-term outsourcing with an efficient and established team working to extend your business.
Best Suited For:
This model is the right choice for developing large projects which need consistency. Here you onboard a team of high-qualified developers to work directly under your supervision, providing you complete visibility of the ongoing project.
It is a long-term engagement where the team follows the agile development methodology. The team works more like an extension of your business, helping you build, maintain, and upgrade your product to meet new market demands.
The hybrid hiring model is a perfect amalgamation of fixed and hourly hiring models to address clients’ unique project needs. This model offers easy access to scale the team as per the project requirements for a defined time interval instead of hiring for the complete project at any point in time.
- Hybrid models offer the best of both worlds with the flexibility to scale the team according to project requirements.
- It emphasizes productivity with a reduced cost of operations.
Best Suited For:
The hybrid hiring model is a perfect choice for projects with a large scope for development and management requiring resources based on milestones. The core developers are hired on a fixed-price basis, while ad-hoc resources are on hourly rates.
Developer’s Hiring Model Based On Methodologies
Freelance developers make a great alternative if you haven’t planned on hiring a full-time dedicated developer or a team. Besides, the freelancer doesn’t need to be provided with equipment as they will use their own.
- You will save money
- There is no need to hire a full-time developer
- It’s harder to find candidates that meet your specific guidelines
- Your potential freelance developers are difficult to track in case of any challenge encountered in the future.
- In addition to cooperation with you, the developer may have other ongoing projects.
- In a scenario where you are not satisfied with work quality, it becomes daunting to undergo the complete process of hiring the right candidate again with downtime and delays.
- You need to hire different freelancers for varied technical requirements, eventually increasing the project’s cost.
Third-party Hiring Platforms
While searching for a developer through a freelance marketplace, you can easily see numerous developers ready to take on your project. Though it seems beneficial to hire from a popular third-party hiring platform to meet your client’s evolving needs, some typical challenges are abandoning quality in pursuit of a lower bottom line.
- Access to the larger talent pool
- You can hire freelancers for a short-term project with specific deliverables.
- Freelancing Wild West. The recruitment process features a lot of trial and error because the platform lacks a vetting system.
- Enormous fees for freelancers. Some third-party platforms charge a 20- 30% revenue fee for freelancers.
- Communication difficulties are quietly encountered regarding the project delivery.
- Beneficial features are locked behind a paywall.
Hiring from Small Enterprises
Small enterprises are considered an entrusted choice when the project requirement varies from small to mid-size. The in-house team meets the project’s unique needs precisely and within a timeline.
- Small Enterprises understand the clients’ ask better, offering them a customized solution.
- No direct point of contact with the development team
- SMEs often lack availability for enterprise-scale projects.
- They often encounter warm body syndrome, which eventually leads to loss of productivity.
- Support system comes with an extra added cost.
Hiring from Large Enterprise like YTII
Hiring from a large enterprise is best suited for software development projects that need expertise in multiple tech-stack. With a large talent pool of highly skilled developers, offshore development companies like Your Team in India can offer long-term support on IT projects. In simple words, it’s your own offshore dedicated development team.
- Access to a large talent pool with expertise across technologies
- Well defined SOPS, management hierarchy, and escalation matrix
- Support on ad-hoc requirement with no extra charge
- Experience across industries like Fintech, Education, IT, Ecommerce, etc.
- Enables on-demand up-scaling and down-scaling of team
- Management with seniority and highly experienced resources.
- Offers multiple hiring models to suit your needs
- Actively invests in emerging technologies to build innovative solutions.
- No hidden charges
- Full technical support at an affordable rate.
The Benefits YTII Hiring Models Offers are as follows:
While it may sound simple, hiring the right resources with the appropriate hiring model can be overwhelming on different levels. So, by understanding these challenges, YTII helps business owners and entrepreneurs across the globe get a better grip on how to proceed seamlessly.
Talk to our experts to explore the potential of hiring a dedicated developer for your software development project.