Being a Technology Leader in the telecom industry is a tough job. If you're like most technology leaders we know, you are faced with competing priorities of:
Quickly delivering cutting edge features with high quality
Staying ahead of regulatory changes and security risks
While reducing headcount and operational costs
Let's look at some of the biggest challenges you face and recommendations for how to tackle them.
1. Talent Acquisition and Retention
Finding Skilled Developers
You know this better than anyone: The most impactful developers are in the highest demand. With so many companies competing for top talent, it can feel like there aren't enough developers to go around.
Partner with specialized recruitment agencies that focus on the tech industry to find top-notch developers. Recruiters have the ability to connect with the best developers who may not be actively looking for a new job. This is something that your online job ads don't do, and it's something your hiring managers don't have time to do.
Retaining Top Talent
Once you’ve hired great developers, keeping them is another story. Competition remains high for talented developers. Your best employees likely have multiple messages from recruiters in their LinkedIn mailbox.
Implement regular feedback and development programs to keep your team engaged and invested in the company's success. And don't let compensation become an issue between new and existing employees. Read this article from Harvard Business Review to see why it's important to revisit the pay of existing employees when you hire new employees.
2. Rapid Technological Advancements
Keeping Up with Innovation
The telecom industry is always changing with new technologies like AI, CPaaS, Network APIs, 5G, and IoT. Falling behind on these technologies means falling behind your competitors who are putting these new technologies to use.
Invest in continuous learning programs and provide your team with access to the latest industry training and certifications. Take advantage of events from organizations such as CPaaS Acceleration Alliance, Cloud Communications Alliance, and GSMA to stay on top of the latest trends in telecommunications and technology. These events are a cost-effective way to access the latest thought leadership in our space.
Training and Development
There is no way around it: Regular training is critical to keeping your team’s skills up-to-date with the fast pace of technology.
Be sure to include training and development in your annual budget. Then look to online learning platforms that offer flexible up-to-date courses tailored to the telecom industry. Microsoft, Amazon, Google, and even LinkedIn offer cost-effective ongoing education programs for the latest technologies and best practices. And give your team the freedom to find programs that offer the training and tools that will help them the best. You'll be surprised at their creativity when you give them a learning goal and a budget.
3. Budget Constraints
Balancing Costs with Innovation
Budgets are always tight, and you need to find a way to innovate without overspending. Balance is crucial to staying competitive.
Here's an easy way to find more budget: odds are that you are only using a portion of the software and services you are paying for. In this article, Forbes finds that half of enterprises waste over 10% of their budget on software, SaaS, and cloud services. Be sure to review the tools and subscriptions that are currently in your budget: Do you really need the highest license level? Can you consolidate activities across multiple platforms into one platform? When is the last time you asked for price concessions or new services for free when your contract came up for renewal? Reducing your spend on unused features and services frees up budget to bring in tools and services that will help your team work faster and smarter.
Too Many Projects and Not Enough Resources
Eventually every team ends up with more projects than they can handle. Even the best request prioritization and streamlined project management processes cannot address every critical business or customer request every time.
Do not be constrained by the development resources you currently have on hand. Rather than saying "no" or "later", provide your customers and business partners with a third option: deliver a project sooner by paying for external help. Look to external partners and freelance developers to suggest options and help address tasks that your team can't get to. Companies such as Creo Solutions specialize in creating communications solutions quickly and with high quality. They can work alongside your team to deliver new features and customer requests that are currently sitting still on your project backlog.
4. Cybersecurity Threats & Regulatory Compliance
Rising Cybersecurity Risks
Cyber attacks are becoming more common and sophisticated. As a communications provider, you are likely a top target for criminals. Protecting your network and data is a top priority but also a big challenge.
Implement a comprehensive cybersecurity framework that includes regular audits, employee training, and updated security protocols. And be sure to use secure coding practices. The best security in the world can be undone by a simple coding mistake. The OWASP foundation is a fantastic resource for learning about secure coding practices. If you're not already using it, visit their website to see their quick reference guide.
Navigating Regulatory Requirements
Telecom companies face many regulations. Staying compliant with all of them is a constant challenge for legal teams, development teams, and operations teams. Making things worse is the fact that regulations change often. You need to stay informed and adapt quickly to avoid penalties and protect your company’s reputation.
Compliance is a team effort. Be sure to partner with your legal team to stay on top of regulatory requirements. And include a legal check in your product development lifecycle. Compliance management software helps you keep track of regulatory requirements and ensure your company meets them. And finally, compliance specialists such as CompliancePoint will help you navigate the complex landscape of data security and privacy.
5. Customer Expectations
Meeting Rising Customer Demands
Customers expectations are always changing. New ways of working and new technologies constantly impact the way customers want to work with you. Meeting their expectations while managing costs is a major challenge.
The first step to addressing your customers' expectations is to talk to them. Stay in regular contact with your largest and most innovative customers. Leverage surveys, customer service, and regular executive check-ins to keep track of what they expect from you. What's working? What's not working? What do you need to improve in order to keep them? What can you deliver to capture a bigger share of their spend? The most successful telecom companies have answers to these questions from their most important customers. The second step is to keep track of industry trends. Industry analysts such as Metrigy, Gartner, McKinsey and STL Partners offer lots of free and paid insights into customer and industry trends. Sign up for their mailing lists and follow them on LinkedIn. The information they provide is invaluable to making sure your strategy is pointing in the right direction.
Conclusion
Technology Directors in telecom face many challenges, from hiring the right people to keeping up with new tech and regulations. Strategic planning and a focus on innovation are essential.
How many of these challenges are you struggling with today?
Are you experiencing challenges in staffing your team, delivering new products, or keeping up with customer demands?
Our team of experienced telecom developers, technology leaders, and product planners can help get you on track.
Contact us today and let's work together to address your software development and solution delivery challenges.
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