How to Adapt a Tech Budget to Remote Work

Around 45% of US professionals started to partially work from home since Covid-19 broke out. 20% more started to fully work from home. The remote mode knows no exceptions — from HR professionals, to SEO specialists, to those working in tech, everyone has gone remote at least partially.

With workers shifting from offices to the comforts of their homes, so shift business priorities, goals, and budgets.

An average mid-sized business spends about 4 percent of its revenue on IT. That includes paying for office spaces, accommodations, and other office supplies. Working remotely, the tech professionals can pay for all of it themselves, further prompting a business’ tech budget to adapt to the new reality.

What are the 5 rules of adapting a tech budget and talent management services solutions to the world gone remote?

Invest into cybersecurity

The average cybersecurity spending has increased 15% in just one year. And the number will climb even higher if the tech segment is to keep up with an increasing amount of risks, threats, and tech professionals preferring to work from home.

To keep up with the threats, invest into:

• A good cloud solution
• Multifactor authentication tools
• Corporate password manager
• A VPN provider or an EOR services provider that has a good corporate VPN
• Unlocking the potential of AI​​ cybersecurity solutions — in truth, this is the future of cybersecurity, and it is certainly worth looking out for

Businesses that are adjusting or have already adjusted their tech budgets to the new cybersecurity requirements are taking the right steps on their way to a fully optimized tech budget.

Foresee and prevent challenges in project management

In 2020, only 35% of Project Managers said they were somewhat satisfied with the system they had in place for performing their direct duty. And that was either before or immediately after the world switched to remote mode.

For the number of satisfied PM’s to grow, businesses need to start investing into the best project management solution such as Teamwork, Asana, or ClickUp. Using a proper project management software will help improve resource management, organize the workflow, make the processes efficient, and overall improve the effectiveness and efficiency of remote work.

Develop more policies and instructions

Developing policies takes time. Time that every business pays for. Nevertheless, developing policies, SOPs, and numerous instructions is important and necessary. In the long run, they will help structuralize the work processes and make communication efficient.

By investing into policy development today, a business can decrease the required spending in the future.

Improve your retention strategy

Hiring a new team member costs around $4000. It consists of the time spent on search, interviews, onboarding, training, and other stages of the hiring and integration processes. Employee retention is not nearly as expensive, especially when we talk about tech professionals with specific knowledge and skills, like ethical hackers, for example.

Adapt your budget to making your company the best, most comfortable, and suitable for all your existing team members and your retention will grow, thus saving your resources on filling open positions.

Invest into the team training

Webinars, lectures, specialized literature, and other educational materials — investing into one’s education is always the right choice and way to go. Doing so for the entire tech team is usefulness multiplied by infinity.

With a lot of tech professionals working from home, they also may not only be seeking additional professional knowledge, but actually have more time for it. They are more likely to jump into special training programs, which means their place of work should be able to provide whatever they need to develop their skills and keep their knowledge up to date.

Adapting tech budgets to remote work may not seem like a big deal. In reality, it is one of the most vital steps that will help you make sure your tech team is running smoothly, developing non-stop, and 100% satisfied with their work environment.

Remember — a happy tech team means a successful development process, which makes every investment worthwhile.

Want your tech team to run smoothly? Reach out to us at [email protected], and we’ll take care of hiring tech professionals your business needs.

by Anna Shevtsova
on October 25, 2022. Share on LinkedIn Post on Twitter

Anna has 6-years overall experience in writing. She previously observed financial markets, conducting the daily research on the state of bonds and stocks. She is a keen reader with interest in historical literature and international cuisine. Her latest obsession — approaches to creating family-like teams in remote times.