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Ask any industry leader for a list of the critical issues they face today, and they’re likely to mention the difficulty of finding and retaining top quality talent. When it comes to technology-focused professionals, this is a long-term and ongoing problem, no longer just for technology-focused companies as companies in various industries undergo their digital transformation. no longer.
As a relatively new tech-advanced industry, the cryptocurrency and blockchain space is definitely feeling a pinch when it comes to attracting and retaining talented developers. By unleashing creativity and tapping into the unique strengths and attractions of the space, cryptocurrency and blockchain companies can capture the interest and loyalty of top quality developers. Here, his seven members of the Cointelegraph Innovation Circle share some ideas to help leaders in the space address the developer shortage the industry is currently facing.
Focus on benefits other than salary
You might think you’re doomed if you don’t get top pay, but understand that new hires often want more than money. Consider offering generous equity. This is not just for leadership. Create an unprecedented culture that acts as a recruitment engine. It offers excellent opportunities for personal, financial and career growth. – Zain Jaffer, Zain Ventures
Start hiring and training locally
Stop competing for the same handful of developers and start hiring locally and training your workforce. There’s essentially an “arms race” going on between developers now. The only way to win is to expand your pool of candidates. Rather than simply moving to San Francisco and joining the shuffle, blockchain companies should look to build new talent pools wherever they are. – Jayang, Tasen
Invest in developers interested in growing domains
I have witnessed firsthand the intense competition in hiring and retaining talent, especially among developers in the cryptocurrency and blockchain space. Leaders should educate budding developers looking to grow on the numerous career opportunities available in the blockchain space. Developers from various domains are looking to switch to the growing domain. Invest to address talent shortages. – Vinita Rathi, Sis Tango
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Build products with real, innovative use cases
One of the best ways to attract and retain talented developers is to focus on products that have real, innovative use cases. Without meaningful technical milestones to work on, programmers will look for meaning elsewhere. But building something important gives developers a sense of purpose and keeps them there. – Wolfgang Rückerl, ENT Technologies AG
Create a grant program to encourage project participation
To attract talent, companies can create grant programs that encourage developers to be involved in the success of their projects. Blockchain technology gives us the tools to seamlessly create these kinds of opportunities for developers and reward their work in ways no other industry can. – Anthony Georgiades, Pastel Network
Support various initiatives to attract developers to space
Create or support initiatives to incentivize developers and attract them to the space. This can be done in a variety of ways, including providing grants, funding competitions, and/or providing educational resources on blockchain and crypto development. – Theo Sastre-Garau, NFTevening
Prioritize quality over industry experience
Prioritize hiring quality engineers over looking for engineers with crypto/blockchain experience. Any good engineer can get used to new technology, but it’s hard to make a techie a good engineer. – Allie Trau, XYO
This article was published through the Cointelegraph Innovation Circle. The Cointelegraph Innovation Circle is a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connection, collaboration, and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.
Learn more about the Cointelegraph Innovation Circle and see if you’re eligible to participate.
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