Downsizing in the tech workforce has been a recent and highly publicized trend across the industry, with big names such as Meta, Microsoft, Amazon, and Google all making moves to streamline their operations in response to the current economic climate. This year alone, more than 190,000 experienced tech workers have rejoined the job market because of these widespread layoffs.
However, according to a recent article from the Recruiting News Network, this outcome may pose a unique and valuable opportunity for both former tech workers and employers outside the tech sector. As a result of their backgrounds in tech, these professionals possess vital skills and experience in areas such as AI that can be transferable – and increasingly necessary – to a wide variety of fields. From healthcare to procurement and supply, almost every industry is facing a digitized and technologically-integrated future with a severe tech skill gap among their current staff. Companies able capitalize on this influx of tech-skilled job seekers by taking deliberate steps to attract and retain them will be better prepared to stay competitive and successful in a rapidly shifting business environment. Read on to learn exactly which steps your organization can take to meet the needs of former tech workers.
While downsizing in the tech sector is widespread, it is important to note that recently laid-off workers are not spending much time in the job market before securing new employment. Rising interest among former tech workers in industries outside of tech such as healthcare and hospitality, as well as consistently high demand across industries for tech talent has kept unemployment rates among tech workers low even as layoffs continue. Therefore, it’s vital to develop a strategy and mobilize quickly if you want to establish a tech talent pipeline to your organization, because if you don’t, your competitors will.
Have a Plan for the Future
Establishing the health of your company and its clear and proactive plan for the future is one of the most important steps you can take to make it a desirable destination for former tech workers. After navigating the volatility of the tech industry, many former employees are desperately seeking stability and confidence in a future employer. Conveying that confidence - with the concrete plans to back it up – will be key to assuring new tech hires that your organization is a worthwhile investment for their time and skills.
Increasingly, the workers of today expect flexibility in their work environment, with 49% of workers in a recent report citing flexibility as a significant factor keeping them in their current positions. This is only truer for tech workers, whose former employers tended to be among early adopters of flexible work policy. Incorporating options for flexibility within your own organization where possible and appropriate can help meet the expectations of tech talent.
After weathering the emotional and psychological toll of workplace instability and layoffs, many former tech workers are looking for an employer who explicitly values the holistic health and wellbeing of their employees. Organizations seeking to attract and retain these workers should foster a supportive work environment while paying specific attention to easing the transition between industries and preventing burnout. By taking special care to provide adequate resources during the onboarding process, you can convey to your new tech hires that they are valued and supported at your company.
By incorporating these suggestions, employers across industries can seize this unique opportunity and, in doing so, fortify their tech infrastructure and future-proof their organizations.