Are you thinking about hiring a global team? Are you considering a few areas or regions? India is a big one, but you should be thinking about Central Asia too. In fact, we think Central Asia is the best place to hire remote tech talent right now, but we’ll show you why in our Central Asia vs India global hiring showdown.
Is There a Talent Shortage in India?
Before we even get into some of the other reasons, what is one of the primary reasons you are looking at higher remote workers in another country anyway? You likely want a more diverse culture, maybe you want to save a little money in the process too, but right now so many are flocking to global remote work because there is a talent shortage.
Unfortunately, India is experiencing a talent shortage as well. Though the U.S. has the largest shortage right now—followed closely behind by Western Europe—India is right behind that in third place. You may have a slightly easier time hiring in India than in the U.S., but it won’t be by much.
On the other hand, Central Asia is experiencing a talent surplus right now, especially in IT fields. Recent events have indirectly affected many of the countries that we operate in, sending droves of educated people across country borders and leaving them looking for work. Stop worrying about the shortage and start working with a surplus.
How Does Attrition Differ Between the India and Central Asia?
The attrition rate across the U.S. in IT is staggering. It’s expected to hit 50% this year as the IT sector continues to experience an exodus. The same thing is happening in India as the attrition rate in IT approaches 30%. That means roughly a third of your Indian IT workforce will leave every year. It’s better than half, but still not great.
Unfortunately, Central Asia doesn’t have any hard data on attrition in the IT sector, especially for remote workers, as these are still emerging markets. However, in working with Central Asian tech talent for many years and helping others tap into those markets since the inception of TRUSS, we can share that our own numbers indicate an attrition rate less than half of the Indian attrition rate.
Is Hiring in Central Asia More Affordable Than India
Just looking at the numbers alone, they are pretty comparable. Central Asia doesn’t have a lot of hard data on the cost of remote developers, but in our experience, the average is around $40,000 a year. Recent data puts India at an average of $45,862 a year for front end developers and other similar fields go upwards of $50,000 on average.
So you save a little money, but there is more to it than that. As we mentioned above, the attrition rate in India is going to be higher. A higher attrition rate means you are spending more time and resources hiring, getting new hires up to speed, and other unseen time sinks such as dealing with the work culture that a high attrition rate generally brings. The end result is more time spent for the same product or often even an inferior product.
In addition to that, the tax rate in many Central Asian countries can be more favorable as well, especially if you have the right partner.
Learn More: Why TRUSS has a Lower Tax Rate in Uzbekistan
Find Talent in Central Asia Today
TRUSS can get to work helping you find and hire talent in Central Asia, and we can start today! We have entities already established and hiring in Uzbekistan, Georgia, and Kazakhstan with more to come this year. We can use our recruiting team that’s based in the region to help you start hiring the right team.