Bad developers kill
17% of tech projects are “black swans”, projects with massive losses that can shut down startups, usually caused by bad developers. Don’t let a bad hire sink your project.
Bugs typically take at least a half day to fix. Bug-filled code by bad developers brings team productivity to a standstill. Don’t let bad developers tear your teams apart.
The annual money lost due to project overrun caused by bad developers is more than the GDP of some countries (per McKinsey). Don’t let bad developers ruin your investment.
It takes bad developers 20 times as long as the best developers to write a codebase. Startups need to operate at light speed or they fail. Don’t let a bad hire slow you down.
- 56%Average value delivered for software projects after completion as a percent of predicted value.Source: McKinsey
- 17%Software projects that go at least 200% over budget and threaten the company’s existence.Source: Harvard Business Review
- 45%Average budget overrun on large software projects. Overrun risk increases with project duration.Source: McKinsey
56% of Expected Value Delivered
The actual revenue and impact of the average software project is just 56% of the expected target (Source: McKinsey). This is the difference between massive profits and unrecoverable losses.
Securing top-quality internal and external talent, adhering to short delivery cycles, and employing rigorous quality checks are the key factors to minimizing project value loss. Toptal addresses these needs by only working with experienced developers with a track record of successful projects and happy clients.
17% Black Swan Rate
A staggeringly high 17% of tech projects threaten company existence by going at least 200% over budget (Source: Harvard Business Review). These high-impact events are more common in tech than in any other industry.
This risk is largely driven by the time it takes a project to go live. Bad developers take 20 times as long to write a codebase. Great engineers minimize this risk by also writing 400% less code that runs at 900% the speed (per Code Complete). When one bad hire can shut down your company, you can’t take any chances.
45% Average Project Overrun
Per McKinsey, software projects experience budget and time overruns to a greater extent than any other industry, the majority of which is due to acquisition of subpar tech talent. As problems pile up and expenses grow, some projects never even finish.
Project overruns also cause botched launches, preventing other teams (like sales) from meeting goals and deadlines. The effects of a bad tech hire can extend throughout the company.
Don’t take the risk!
Software projects affect an entire company and are more risky than any other endeavor. When the fate of your project and company rests on the quality of your tech talent, only hiring vetted, successful developers is an absolute must.