OTT businesses require many software development services to stay up and running and innovate their platforms. If you have recently started an OTT business, you might be wondering how to get access to such services in a cost-effective manner. Many OTT business owners hire in-house software developers for the purposes mentioned above. However, you should know that hiring a Hooligan Development Devs-On-Demand service can be far more cost-effective. In this guide, we will compare the different costs associated with hiring an in-house software developer vs using a Devs-On-Demand service. We hope this information helps you understand how you can save by using our development service.
Hiring Costs Associated With In-House Software Developers
OTT businesses that opt for in-house software developers must bear high hiring costs. This includes the cost of:
- Creating and publishing job listings: $200 to $500
- Tracking applicants: $50 to $200
- Using HR and Recruiter resources: $2,000 to $2,500
- Training and onboarding new hires: $1,111 to $3,520
Each of the hiring stages listed above adds immense costs to your business. For example, if you tasked your HR manager with interviewing ten candidates, they may need to spend a full week on this process. HR managers receive an average salary between $100,000 and $130,000, so your business will pay your HR managers between $2,000 and $2,500 to interview various candidates and select a single one. Similarly, it costs approximately $1,111 to $3,520 just to train a single new employee. So when all these costs add up, you might end up paying tens of thousands of dollars just to hire two or three software developers for your OTT business. The overhead costs also don’t factor in the productivity loss your business will suffer from redirecting some of its resources toward the recruitment process. Businesses that use the Hooligan Development Devs-On-Demand service won’t need to bear any of these hiring costs, as we have already taken care of recruiting qualified software developers.
Costs of Using In-House Software Developers
Employing in-house software developers full-time may not be cost-effective for most new OTT businesses. The truth is that the demand for software developers is much higher than the actual supply. There is a distinct lack of coding skills among professionals, so these software developers have the freedom to demand high salaries for their services, knowing that many businesses are willing to pay for them. The average salary for a software developer in the United States in 2023 is $107,000. This means your OTT business may need to spend hundreds of thousands of dollars on just its software development department. You might not even need to use these software developers full-time during certain times of the year. However, you must pay their salaries, even when you aren’t fully utilizing their services. Using software developers through a Devs-On-Demand service is far more cost-effective because you can utilize a specific number of developers for a specific amount of time as needed. This allows you to save on developer costs during periods when their services aren’t needed. Once business picks up, or you decide to revamp your OTT platform, you can reach out to Hooligan Development service and get an entire team of software developers working for you.
Other Benefits of Using Hooligan Development's Devs-On-Demand Service Over In-House Software Developers.
There are many benefits associated with using a Devs-On-Demand service from Hooligan over in-house software development, in addition to the cost benefits described above. This includes:
OTT businesses that have prioritized growth in their business strategy often need to hire additional staff to keep up with their growing demands. This includes software developers. Hiring additional software developers isn’t just costly. It is also a slow process that takes several months to complete. This limits how fast your OTT business can expand. You won’t need to worry about lengthy hiring processes if you opt to use software developers from Hooligan Development. We screen each of our developers beforehand and can supply you with the ones you need on relatively short notice. This means your OTT business will always have enough software developers on-hand to support your growth.
Addressing Skill Gaps
The software world is evolving rapidly, and your business may need to implement certain types of software features your in-house developers aren’t familiar with. You could opt to train your in-house developers and help them bridge this skill gap. However, your business will need to bear the costs of this training. In addition to this, your business will experience a temporary productivity loss while your in-house developers set their work aside for training. This issue is less likely to occur if you choose software developers from Hooligan Development. We have a large team of software developers continually expanding their knowledge and skill sets. Many of these developers specialize in different areas, so we can provide you with developers that possess the specialized skills you require at your business.
Help Your OTT Business Save Costs With Hooligan
As you can see, your business can save on many types of costs by opting to use developers from a Devs-On-Demand service instead of hiring in-house developers. For this reason, you should consider using Hooligan Development. At Hooligan, we maintain an extensive team of software developers specialised in developing OTT software. Our team is trained to deliver consistently high-quality services to all our clients and can help you address staffing shortages on short notice. Contact us today and unlock your OTT business’s full potential.