Most entrepreneurs have a difficult task of identifying the right engineers to bring onboard. The challenges they face are quite diverse. Paying the right offshore development rates is one of the biggest causes of headaches the entrepreneurs face. Paying what is right is one of the most effective strategies for building a great offshore development team. The developers are not only expensive, but also hard to get and difficult to retain. Most developers attract a six-figure salary. The developers need plenty of bonuses in addition to large stock packages to produce results.
In determining what to pay the offshore development team, you have to consider the following:
Examine each developer's skills
First, look at the skills of every developer you wish to hire. Your team requires people with different skills and experiences. You need people who bring different qualities to the team. For this reason, you can't afford to pay them the same rate. For the most part, speak and haggle with each developer separately. Each developer has different needs and skills. Each developer needs a different job description, duties and responsibilities. According to an article published on Inc.com, looking stingy is bad when negotiating with each employee you wish to hire.
Meet all developers in person
Meet each employee in person. This way, you make them feel valued and important. There's nothing wrong in hiring somebody to negotiate with the developers. However, it pays to speak with each developer. Meeting with each developer helps you to understand the culture from whence he comes. If the developers are in a different country, take a flight to them. Seek to bring the developers to your side. Spend some time developing friendships with the developers. Doing this makes it easier for the two of you to negotiate the offshore development rates well.
Pay fair market wages
Pay the developers a fair market wage. Good developers know their worth. They know what their colleagues within the industry earn. Therefore, avoid trying to shortchange them. Failure to pay them well convinces the developers to turn elsewhere for more money. Paying excessive rates is bad for the business. Reward them with some incentives. For example, the incentives could be in the form of stock. Remember that your developers are capable of ruining your business or startup. According to Business Insider, capitalism doesn't mean paying your workers low rates.
Give developers great reasons to work for you
Give the developers a good reason to work to work for you. Make your startup as attractive as possible to the new developers. If the developers realize that they shall be working in good surroundings, the developers might be ready to take some low pay home. Be actively involved in setting the startup and let the developers know who is in charge. Make the developers proud to work for your startup. The members of your offshore development team need to know they are just as important as the directors and managers working at the headquarters.
According to US News, separating myths from facts is crucial in determining why using agencies to hire members into your offshore development team is crucial. Use this guideline to help you form a formidable team of offshore developers. Remember to pay members of the team the best offshore development rates.