Your LinkedIn timeline is likely overflowing with posts about the growing number of layoffs across the tech sector. While it’s true that massive layoffs across the tech world seem to be springing up everyday, many would argue this trend was long in the making.
The tech industry suffered from a lack of “right sizing.” Many businesses were able to create solutions that saw tremendous financial gains during the pandemic, and decided to invest in growing their staff to accommodate that boom. The meteoric rise in size in some organizations was impressive, until the trade winds began to shift. Unfortunately, without proper strategic organizational planning and a strong staffing infrastructure, as those gains began to dip, the inevitable HR squeeze began.
Countless stories of layoffs as well as resignations sometimes creates a false sense of doom. There are of course many experiencing a downturn (and not just in the tech sector), but there is also a growing number of vacancies rising as well. Curated job lists, Open To Hire buttons and re-shares of unfilled job postings all point toward a more balanced job market than we may think.
Savvy organizations are regrouping and fine tuning where and when needed to ensure that they either learn from their own mistakes or better yet, those of their peers. They also realize how many talented and high quality candidates are now available and have wisely opened up their doors to bring in a fresh wave of talent.
So if you’re someone who was recently laid off or decided to take a break or a chance on something new- it’s not all bleak news in the job market. Keep your eyes peeled and scour your networks for new and exciting opportunities popping up every day. Perhaps try your hand at freelance consulting or vice versa- maybe now is the time to give full time work a fresh chance. Follow new accounts in sectors you may have never considered and interesting organizations you admire until the trail leads you to a new opportunity in a space you may have never considered. You might find yourself in a remote position across the country or in a new office down the road- this is the beauty of the new hybrid work environment. Just ensure that as your potential employer gets to know you, in turn, you ask questions that ensure that you are placing yourself in an organization poised to continue to thrive, despite the ups and downs of the future.