Big Tech Job Cuts Don’t Mean Demand for Tech Professionals Is Over
As a staffing specialist over the past 8+ years overseeing recruiting for various national markets and industries, the market has always been what we like to call a see-saw.
Either the market is in the hands of the candidate — ie. “Candidate Driven Market”— where the candidate has multiple opportunities to choose from.
On the other side of the seesaw is the “Employers Driven Market,” where there are limited jobs open and the hiring manager has a high demand of applicants to choose from.
This always bounces back and forth and right now we are shifting back toward employers in the driver’s seat.
Is now a good time to work in tech?
Despite recent mass layoffs, now is still a great time to work in tech because of the rapid growth of the tech industry, digital transformation, remote work, tech skill shortages, and tech career advancement.
- Rapid growth of the tech industry
- Digital transformation
- Remote work
- Tech skill shortages
- Tech career advancement
Rapid growth of the tech industry
I’m not quite sure there will ever be a “bad time” to start a career in technology.
Due to the rapid growth of the tech industry and investments in non-tech organizations’ prioritization of digital transformation, there will always be a need for tech.
For example, companies will always need to ensure their networks are secure and have a Cybersecurity team to protect it all.
And an organization will always use their content to reach its target audience.
The content reach must be reviewed to determine ROI, so an analyst will need to review it all. It is a domino effect, truly.
Digital transformation
Digital transformation is becoming a buzzword in the tech world.
Organizations are recognizing that they need to keep up with technology and rapidly changing customer trends if they want to stay competitive.
This means that companies need the best talent and resources available to help them innovate and navigate their digital transformations.
Remote work
The pandemic has made it so that a huge chunk of the workforce is working from home and fully remote.
This means that teams need to be creative with their communication strategies and find new ways to collaborate.
Tech skill shortages
As companies are looking for tech talent, they are running into a common problem: there just aren’t enough tech-savvy professionals to fill all the open roles.
This is leading companies to look for creative ways to acquire and retain talent.
Tech career advancement
Technology is constantly evolving and the right professionals are needed to keep up with the changes.
Those in tech have great opportunities for career advancement as they learn new skills and technologies, network with those in the industry, and gain experience on different projects.
All of this makes a tech career an attractive option for many.
What are the most in-demand jobs in tech?
In spite of the recent mass layoffs in the tech sector, there are still countless tech roles that are in demand like project managers, business analysts, and full-stack developers.
Project manager jobs
Companies need people to help them use technology, like making sure their networks are safe and helping reach customers.
They also need someone to look at how successful their work is.
That’s why project managers are an in-demand job, even when there have been a lot of layoffs in tech.
Business analyst jobs
Business analysts help companies understand their data and make decisions backed by evidence.
They can help an organization plan for the future, find ways to improve processes and ensure that the company’s goals are met.
Software engineer jobs
Software engineers are responsible for building applications that solve problems for businesses.
With the rise of digital transformation, companies need software engineers to help them create innovative solutions.
Data analyst jobs
Data scientists have become an integral part of many organizations as they are able to use data to uncover insights that can help a company better understand its customers and make more informed decisions.
This has made data science one of the most in-demand tech roles.
Full-stack developer jobs
Full-stack developers are in high demand as they have knowledge and experience in building applications from the front end to the back end.
They are able to work on the entire technology stack and can be invaluable for companies looking for a full-service solution.
Big Tech Job Cuts and Tech Job Demand
Since the 2020 Covid impact on the job market, there has been a huge influx in hiring in tech and digital marketing.
While there were many layoffs and furloughs in general, there was a huge increase in newly created roles in tech and digital marketing as many transitioned to a remote/digital world.
While big tech may be going through massive changes and layoffs, you have to consider…
Did big tech overhire in 2020?
While we do acknowledge layoffs are prevalent, the recession is real, and many companies are conservative to hire, big tech layoffs do not mean there are no jobs out there and that everyone is in the same boat.
On the contrary, we are currently seeing an influx of hiring requests in the same industries that were “recession-proof” back in March-April 2020:
- Healthcare
- Government
- Financial Services
- Real Estate
- Manufacturing
The future of tech jobs
With the growing prevalence of technology like artificial intelligence, I keep getting asked “Will AI and other automation technologies take over tech jobs?!” and the answer is no, AI will not wipe out the tech market.
The future of tech jobs is bright, and AI and whatever amazing technology comes next will always need the guidance of tech professionals to embrace, implement, and manage its capabilities.
We look forward to seeing what is next in tech and how we can support our clients with the creation and development of its future.
Looking to hire top-tier Tech, Digital Marketing, or Creative Talent? We can help.
Every year, Mondo helps to fill over 2,000 open positions nationwide.
More articles about hiring and industry trends:
- Challenges Faced by the Banking Industry in the Digital Age
- The World of Robotics: Industries Leveraging Robotics Engineers
- How to Use Digital Transformation to Stay Ahead in the Manufacturing Industry
- Salesforce Admin Jobs to Hire to Get the Most Out of Your Investment
- Benefits of Digital Transformation in Healthcare with Examples
- HR Technology in Hiring: Streamlining Your Recruitment & Onboarding
- 4 Simple Resume Tips to Help You Hire Job Candidates Faster
- What Does a Recruiter Do & Who Do They Work For?
