7 ways to address the dev talent shortage in the crypto industry

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Ask any leader in any indus­try for a list of the sig­nif­i­cant issues they’re fac­ing right now, and odds are they’ll men­tion the dif­fi­cul­ty of find­ing and retain­ing top-qual­i­ty tal­ent. It’s been a long-term, ongo­ing issue when it comes to pro­fes­sion­als with a tech­nol­o­gy focus, and as busi­ness­es across indus­tries under­go dig­i­tal trans­for­ma­tion, it’s not just a prob­lem for tech-focused com­pa­nies anymore.

As a rel­a­tive­ly new, tech-for­ward indus­try, the cryp­to and blockchain space is def­i­nite­ly feel­ing the pinch when it comes to land­ing and keep­ing tal­ent­ed devel­op­ers. How­ev­er, it’s not a prob­lem with­out a solu­tion. By exer­cis­ing cre­ativ­i­ty and lean­ing into the space’s unique strengths and appeal, cryp­to and blockchain com­pa­nies can catch the inter­est and loy­al­ty of top-qual­i­ty devs. Here, sev­en mem­bers of Coin­tele­graph Inno­va­tion Cir­cle share some ideas to help lead­ers in the space address the devel­op­er short­age the industry’s cur­rent­ly facing.

Focus on benefits beyond salary

You may think you’re doomed if you can’t pay the high­est salaries, but real­ize that what recruits often want is much more than mon­ey. Think about offer­ing gen­er­ous equi­ty — this is not some­thing exclu­sive­ly reserved for lead­er­ship — and cre­ate an unheard-of cul­ture that serves as a recruit­ment engine. Pro­vide out­stand­ing oppor­tu­ni­ties for per­son­al, finan­cial and career growth. – Zain Jaf­fer, Zain Ventures

Start hiring and training locally

Stop com­pet­ing for the same hand­ful of devel­op­ers who are being shuf­fled around, and start hir­ing local­ly and train­ing a work­force. There’s essen­tial­ly an “arms race” for devel­op­ers right now, and the only way to win is to widen the cir­cle of can­di­dates. Blockchain com­pa­nies should look to build new tal­ent pools wher­ev­er they are, not sim­ply migrate to San Fran­cis­co to join the shuf­fle. – Jae Yang, Tacen

Invest in devs interested in growing domains

I’ve wit­nessed first­hand the fierce com­pe­ti­tion in recruit­ing and retain­ing tal­ent, par­tic­u­lar­ly among devel­op­ers in the cryp­to and blockchain space. The lead­ers should edu­cate bud­ding devel­op­ers who are will­ing to grow about the numer­ous career oppor­tu­ni­ties avail­able in the blockchain space. Devel­op­ers from var­i­ous domains are try­ing to switch to grow­ing domains; invest in them to address the tal­ent short­age. – Vini­ta Rathi, Systango

Join the com­mu­ni­ty where you can trans­form the future. Coin­tele­graph Inno­va­tion Cir­cle brings blockchain tech­nol­o­gy lead­ers togeth­er to con­nect, col­lab­o­rate and pub­lish. Apply today

Build products with real, innovative use cases

One of the best ways to attract and retain tal­ent­ed devel­op­ers is by focus­ing on prod­ucts that have real, inno­v­a­tive use cas­es. With­out mean­ing­ful tech­ni­cal mile­stones to work toward, pro­gram­mers will seek mean­ing else­where. But through build­ing some­thing sig­nif­i­cant, devel­op­ers feel a sense of pur­pose that encour­ages them to stick around. – Wolf­gang Rück­erl, ENT Tech­nolo­gies AG

Create grant programs to incentivize project involvement

To attract tal­ent, com­pa­nies can cre­ate grant pro­grams that incen­tivize devel­op­ers to get involved while also giv­ing them a stake in the project’s suc­cess. Blockchain tech­nol­o­gy gives us the tools to seam­less­ly cre­ate these types of oppor­tu­ni­ties for devel­op­ers and reward them for their work in ways that oth­er indus­tries can’t. – Antho­ny Geor­giades, Pas­tel Network

Support a range of initiatives to attract devs to the space

Cre­ate or sup­port ini­tia­tives to incen­tivize and attract devel­op­ers to the space. This could be done in many ways — by pro­vid­ing grants, fund­ing com­pe­ti­tions and/or pro­vid­ing edu­ca­tion­al resources on blockchain and cryp­to devel­op­ment. – Theo Sas­tre-Garau, NFTevening

Prioritize quality over industry experience

Sim­ply pri­or­i­tize hir­ing high-qual­i­ty engi­neers over search­ing for those with expe­ri­ence in cryp­to and/or blockchain. Any high-qual­i­ty engi­neer can get up to speed on a new tech­nol­o­gy, but turn­ing a tech­nol­o­gist into a high-qual­i­ty engi­neer is dif­fi­cult. – Arie Trouw, XYO

This arti­cle was pub­lished through Coin­tele­graph Inno­va­tion Cir­cle, a vet­ted orga­ni­za­tion of senior exec­u­tives and experts in the blockchain tech­nol­o­gy indus­try who are build­ing the future through the pow­er of con­nec­tions, col­lab­o­ra­tion and thought lead­er­ship. Opin­ions expressed do not nec­es­sar­i­ly reflect those of Cointelegraph.

Learn more about Coin­tele­graph Inno­va­tion Cir­cle and see if you qual­i­fy to join.

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