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Developers "more important" than capital, company heads say

(Image credit: Image Credit: Moon Light PhotoStudio / Shutterstock)

Software developers have become more precious than money, according to recent industry reports. A new Stripe and Harris report claims that 61 per cent of all C-suites consider access to developer talent a threat to the success of their business.

This means this threat ranks higher than access to funds or other types of financial constraints.

Given their importance, the report states that these employees don't get the attention they deserve. In global, companies lose more than $300 billion a year, paying down what's known as “technical debt”.

Technical debt occurs when the staff is too busy maintaining legacy systems or trying to handle poor / old / malfunctioning software.

Commenting on the news, Will Gaybrick, Stripe CFO and a member of the CNBC Global CFO Council, says the main goal now is to increase the devs’ productivity. That can be achieved in three ways: by understanding current costs and opportunity costs, outsourcing and hiring leaders with technical backgrounds.

“As digital transformation remains top of mind for every company, it's critical to empower developers with the tools, infrastructure and guidance to move more quickly,” Gaybrick writes.

“By increasing the multiplying power of developers — the developer coefficient — you can make better use of the resources you have and ignite steeper business growth.”

You can find more details about the report on this link.

Image Credit: Moon Light PhotoStudio / Shutterstock