The
technology market has seen some significant layoffs by major players towards
the end of 2022 and into this year. Google, Yahoo, Microsoft, Zoom, Twitter and
Amazon have all made (or are still making) reductions to their workforces. In
January and February alone more than
120,000 people in the tech industry have been
laid off. 

The
recruitment market, especially in the tech industry, tends to ebb and flow, and
we’re currently in the midst of a downturn. However, at senior level and in
specialized positions, I still have clients that are actively hiring.

So,
what does that mean for tech companies and the individuals who have been laid
off? This article looks at the opportunities these layoffs create for
technology companies, and provides advice for tech employees looking for new
roles.

Advice for candidates looking for your next tech
role

There
are currently a lot of skilled individuals looking for technology
roles, so you have to be able to set yourself apart from a sea of candidates.

Here
are my top three tips for doing this:

1. Keep your skills relevant

The technology industry is
constantly evolving, with new tools, platforms and programming languages
emerging all the time. Keeping your skills up-to-date puts you on the front
foot and increases your relevance in the job market. It also boosts your
chances of landing a better job than the one you had. Additionally, learning
new skills can be a rewarding experience. It helps you broaden your knowledge,
expand your skill set and become a more well-rounded professional who’s an attractive
proposition for tech companies that are recruiting.

2. Network

There are a number of general
reasons why networking is important, from building relationships and connecting
with people in the same situation as you to staying up-to-date with industry
trends and professional development. In the technology industry specifically,
networking can help you find job opportunities that you may not have found on
your own. Many jobs in the technology industry are filled through referrals and
word-of-mouth, so networking increases your chances of hearing about job
openings and getting your foot in the door.

3. Go deep on
one technology

Laser focus on certain parts of
your repertoire, for example emerging technologies such as enterprise
architecture, puts you in an advantageous position. The clients I’ve spoken to
recently are looking for a segmented skill set and a real focus on one
technology. While it’s previously been helpful to have a breadth of experience,
companies now are looking for subject matter experts, especially at senior
level. 

These
tips also hold true for technology sales candidates, especially the final tip.
When you’re selling a product to a CTO, for example, you need to be able to
talk with them at a granular level. Not only do you have to open doors, build
relationships and find solutions, but you also have to be able to talk about
specific tech in a detailed way.

The opportunity for tech businesses to recruit

While
the big tech company layoffs are the ones making the headlines, there are still
companies out there that are recruiting. And it’s a good time to do so, if you
can.

Major
layoffs in a specific sector can be a golden opportunity for companies in a position
to hire to upgrade their skill sets, from junior level to the C-suite. There’s
currently a pool of talented tech individuals available for hire and actively
looking for new opportunities, including those who have been top performers at
their previous company.

I’m
currently seeing hiring opportunities mainly in specialized positions, such as
product and architecture, and at senior levels, for example CTOs
and CIOs. These individuals can bring valuable knowledge, experience and
expertise into your company, and will probably be able to hit the ground
running in a new role.

There’s
also a knock-on effect. Recruiting talent from a company that has recently
experienced layoffs can boost your existing employees’ morale. Hiring
individuals who were laid off demonstrates a commitment to growth and
stability, and can help create a positive culture within your organization.

Whether you’re a candidate looking for a new
technology role, or a company hiring into your tech team, contact Hanover today
and let’s set up time for a chat.