Even at a time when many technology workers are facing layoffs and others fret whether they’ll be next, the need for tech talent remains high. There are some relatively simple explanations to the apparent supply-and-demand paradox within the technology job economy, but the takeaway for companies across industries is this: Given the current conditions, leveraging laid-off tech talent to fill contract roles could help companies in 2023.
With Amazon, Microsoft and other major employers cutting jobs, many companies that have operated in a climate of tech-talent scarcity over the past few years are finding the market for technology workers beginning to open up. A looming recession makes for heightened business uncertainty, but that burden isn’t exactly distributed evenly. Some sectors have been hit harder than others, which means companies in those industries that are better positioned to ride out lean macroeconomic times now have a chance to tap into available tech talent they previously couldn’t access.
Savvy organizations recognize this moment for what it is: a growth opportunity. The “modest” goal of Warren Buffett’s holding company Berkshire Hathaway, as the owner once described it, is to “attempt to be fearful when others are greedy, and greedy when others are fearful.” The idea: zig when other businesses are zagging. Layoffs in the tech sector have opened a window to talent that can allow organizations in other industries to fulfill their contract needs in the months (and perhaps years) ahead.
Where to Start When Tapping Tech Talent
How might a company find leveraging laid-off tech talent advantageous? First, identify where the technology layoffs are coming from. In what areas is talent now available where it previously hadn’t been? Where might talent suddenly materialize as the Fed continues to increase borrowing rates and more tech companies respond by cutting payroll? Again, their loss can be your gain.
Then look inward: What initiatives or goals at your company require specialized tech labor? Might there be hidden growth potential where tech can help, or eventual needs that can only be met by talent that figures to be more scarce and less affordable in the future? Some hiring opportunities may be less apparent than others. Among the areas reportedly targeted for layoffs at Amazon, for instance, is human resources. A company interested in hiring the best tech talent for specific initiatives – zigging when others are zagging – might be very interested in a highly qualified talent acquisition manager with a direct pipeline to some of the most attractive engineers, coders and other tech workers on the market.
How PeopleCaddie Helps You Hire – and Thrive
The reality is that few companies will have the interest or runway to hire full-time HR professionals, with the intention of identifying and bringing aboard a legion of tech talent. Whether it be due to the size or nature of the business, or just a hedge against the current economy, most organizations will instead have relatively modest or targeted needs for specific tech projects. In these cases, PeopleCaddie may be the partner to best serve your organization.
With the PeopleCaddie talent cloud, our clients receive access to a network of high-quality, vetted independent contractors – including those within the tech sector. We can not only help you identify, hire and onboard some of the best available technology workers to quickly plug into specialized project work or help handle temporary workflows, we can connect those organizations with broader needs to that hiring manager on a contract basis – rather than forcing a business to make a long-term commitment to what is essentially a short-term need.
PeopleCaddie even provides insurance for our contractors, taking most administrative duties (payroll, benefits, etc.) out of your hands to allow your business to focus on the task at hand. Resilience is critical in business, and PeopleCaddie can help you build a flexible, first-class workforce to not only survive a recession but also evolve, grow and thrive through the months ahead.
To find our more about how PeopleCaddie’s talent cloud can help your company leverage laid-off tech talent, click here.