IT Costs Are Skyrocketing

The shortage of both critical hardware components and skilled IT workers is undoubtedly pushing the limits of your IT budget.

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IT Costs Are Skyrocketing—Find Out How To Boost Your Cost Effect…

The shortage of both critical hardware components and skilled IT workers is undoubtedly pushing the limits of your IT budget. That’s why outsourcing your IT is more valuable than ever—get expert assistance with your budgeting, and access a fully trained and managed pool of IT talent by working with Tektonic.

Is IT getting too expensive for your business to deal with internally? Combining the rising cost of hardware with the shrinking pool of skilled IT personnel can make for an expensive internal IT team.

That’s why outsourcing your IT makes so much sense—Tektonic can help you strategize your IT budget, plan ahead for hardware purchases, and fill in the gaps in your IT team.

Otherwise, you’ll have to deal with the economic realities of the IT sector on your own…

The Hardware Shortage Continues—Eventually, You’ll Have To Pay The Price

The hardware shortage stems from both growing demand and tensions between nations. The combined effect is a drastic drop in supply, amid rising worldwide demand.

At the start of 2021, semiconductor sales had already ballooned by 13.2%, due in large part to the number of people working from home for the first time. Supporting remote work environments required businesses to invest in up to two times as many computers and devices as they would normally need.

Unfortunately, it looks like the chip shortage will not only continue but likely get worse as well. Manufacturers that rely on these components (Ford, Toyota, Apple, HP, etc.) are anticipating extensive delays in the fulfillment of new hardware and products. They expect the effects of the shortage to last at least into 2022, if not further.

If you haven’t arranged an order for your replacement business hardware yet, now is the time to get in line. The process will be more onerous and expensive than ever before, but the sooner you get started, the better.

As remote work-based demand increased, stressed relations between the US, Russia, and China prompted nations to begin stockpiling valuable materials, including semiconductors. Factor in the decreased workforce during the pandemic and extended timelines for production and shipping, and you get a critical disparity between supply and demand.

Businesses And End Users Will Pay The Price

As chip manufacturers struggle to produce a sufficient supply of these key components, prices will inevitably rise. TSMC plans to hike its prices in line with the limited amount of components they are able to produce.

The automotive industry is already expecting a $210 billion loss in revenue over the course of the year because of this issue. While some more optimistic industry leaders like Elon Musk are looking to new manufacturing processes as a way to address the shortage, others will simply pass the costs on to the end-user.

This has resulted in a bidding war among major manufacturers. As globally active brands like Toyota and Apple compete for vital components, they’ll have to pay much higher prices. Those expenses will fall in the lap of consumers like you.

While prices may be high now, they’re only bound to increase over the next year. As the shortage continues and demand climbs, prices will increase in kind. That’s why you need to start placing orders now for the hardware you’ll need next year and the year after that. The longer you wait, the more it will cost you.

The Lack Of Skilled IT Workers Is Growing…

As the IT industry continues to grow, the number of skilled workers available to fill the many new positions isn’t keeping up with it.

That’s why cloud computing is one of the most in-demand technical skills in the country, more so than mobile app development and social media marketing. Furthermore, the Bureau of Labor Statistics reports that employment opportunities in the computer and IT sector will grow by 12% in the next ten years, far faster than the average expected rate of job growth.

What about cybersecurity?

As the fastest-growing sector of the IT world, cybersecurity skills are in high demand. Unfortunately, there doesn’t seem to be an adequate supply. Recent polling performed on behalf of Tripwire found even more troubling evidence:

  • 93% of polled IT security professionals say the skills required to be a great security professional have changed over the past few years, which is making it harder to find properly skilled cybersecurity professionals.
  • 85% report their security teams are already understaffed, and only 1% believe they can manage all of their organization’s cybersecurity needs when facing a shortage of skilled workers.
  • 96% say they are either currently facing difficulty in staffing security teams due to the skills gap or can see it coming.

The Limits Of Your IT Team

Regardless of how well-intentioned they are, if your IT team is pushed beyond their capabilities, your business will suffer. IT issues will take longer to fix. Projects will stall. Service quality will plummet.

For years now, CEOs have been worried about the growing demand and falling supply of skilled tech workers. The COVID-19 pandemic has only exacerbated that disparity, and it’s getting worse.

The bottom line is that your IT staff doesn’t have the resources to handle everything on their plate. Maybe this only happens when a project comes up, or maybe it’s just a seasonal issue when the office gets busy. In either case, you’re in a tough spot — you probably don’t want to hire additional full-time employees to help out if you know they won’t be needed all the time, right?

This has prompted many businesses to have to hire unskilled or unqualified labor, shouldering the burden of training them and dealing with the mistakes they make. The fact is that IT support isn’t just a matter of getting someone to handle something you don’t have time for. You’re not hiring someone for unskilled labor – you should be working with someone that has knowledge and skills that you don’t have yourself. You should be hiring an expert.

Tektonic Has The IT Resources You’re Looking For

The Tektonic team has the expertise and experience you need to manage your IT concerns.

We can assess and determine the state of your current hardware, and help you plan ahead for when it will be replaced, mitigating as much of the delay as possible.  Furthermore, by outsourcing your IT support to us, you can rely on our team of IT experts to fill in your personnel gaps.

Get in touch with our team to get started and help ensure your IT budget has the greatest cost-effect possible.

Toronto Information Technology News

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