As there have been serious complications in the crypto market, it has affected large tech companies. Yet, the market for tech workers has remained steady and doing well. The number of openings has still been strong and competitive. Therefore, despite the prediction of hiring freezes in the tech industry due to a recession, the IT world has proven to overcome those difficulties.
Majority of those who have slowed down their IT hiring process are the large corporations such as Microsoft, Google, and Facebook. On the other hand, the other IT segment of professionals have remained solid. Unlike the big corporations, SMB’s have a great opportunity to acquire the best IT talent. The competition for talent along with the amount of job openings has not fallen short in recent times. This might seem surprising based off most industries announcing layoffs or hirings coming to a halt, but IT has thankfully not had the same problems. Megan Slabinski, a district president for HR consultant Robert Half, mentions recent data showed 2,000 new IT positions listed in just one week in the Bay area. This is a perfect example in how the demand as well of the volume for IT workers is still high. A company’s IT headcount is important now more than ever.
Moreover, due to the demand of IT talent, businesses need to remember to prioritize the IT talent they currently have. It is a competitive industry at the moment, and companies should make sure they don’t lose some IT employees for a better offer. Some companies forget to appreciate the IT professionals they already have, thus leading those employees to leaving for a better opportunity, that will only damage a company’s hiring process. Sometimes, it is best to take a current IT employee, and train them in more areas rather than hiring more of those people. As senior research director with computer economics, David Wagner, says, “If you’re a small – any size company really- what you really need to think about is whether or not you’re doing enough to keep the talent you have.”
All in all, the IT segment has been holding on well despite economic factors. Their job market has proven to be strong, although economic headwinds complicate other areas. Layoffs could create a silver lining for small businesses since large ones have stopped hiring. IT positions are increasing as many companies are looking for more talent. It is crucial that businesses keep the talent they already have, because losing them to a competitor will drastically hurt their business processes due to it being in such high demand.