How to hire tech talent in an uncertain market

Tech hiring doesn’t come without its challenges. The industry has been faced with several pushbacks over recent years, putting a strain on hiring managers and talent acquisition folk. So, how do companies move forward with their hiring strategies during these uncertain times?

‍

Less-than-ideal hiring environments

First, we were hit with the controversial Brexit deal, which saw tech companies adjusting to new budgets to meet economic demands. Then, we were hit by a global pandemic which brought significant changes to the working environment. Companies adapted their working preferences to remote (where possible), but have since transitioned to hybrid working to meet the work-life balance that employees so desire. 

‍

Now we’re faced with hiring freezes

And, if that wasn’t enough, 2022 saw a major crash as we were hit with hiring freezes across the board - in both startup and enterprise companies.

‍

Tech giants like Microsoft, Netflix and Twitter haven’t been able to bypass redundancies. Microsoft said goodbye to at least 1% of its employee cohort that was hired in 2021 and, between the three companies mentioned above, more than 7,000 redundancies have been made - with more on the horizon. 

‍

How to move forward 

Not all companies will be affected. It’s completely normal to feel a sense of panic when hiring freezes are distributed across many social platforms and in news articles, but re-assess where your company is at. If you’re not affected by external factors and are continuing to hire into the new year, don’t put your foot on the brakes!

‍

How to overcome the challenges

Focus on culture

Step one: reassure your current employees and reiterate the goals and missions of the company. 60% of Haystack users look at a company’s culture when trawling through job descriptions. So, shout about your company culture and hone in on the important stuff. Techies aren’t looking to move to a company that offers ping-pong tables and Friday beers but one that they feel they can contribute to and grow alongside.

‍

Cast your net wider

Step two: look further afield. If you usually hire locally, try expanding your search to other areas (if your company allows it). The pandemic contributed hugely to a shift in the way that the tech community now prefers to work. 81% of Haystack users are looking for either fully remote or hybrid opportunities. That means you’ll be much more likely to find the perfect candidate if you expand your search and allow yourself to build a bigger talent pool. 

‍

Upskilling

Step three: recruitment starts with retention. Shifting your focus to in-house will benefit your business in many ways, especially in the long run. Allow your employees to grow alongside the company by opening the door to more opportunities through learning budgets and offering coaching sessions. Investing in what you already have will strengthen your employer brand and raise brand awareness.

‍

The tech landscape is forever changing. Companies don’t have time to stand still and wait on making decisions. It all boils down to your willingness to adapt, to be successful and move forward in uncertain times. Change your goals to align with the ever-changing economic climate and find yourself to be a winner. Companies will win some and lose some. But those that come out on top are those that listen to their employees, make decisions based on factors around them and be open to new opportunities.