4 Steps To Take If You’re Worried About Losing Your Tech Job
You may be aware of Meta, Intel, Warner Bros, Alphabet, Amazon and Microsoft making big impact layoffs. You might have seen the latest trending articles about it on Linked In. But, whether you work in big tech or not, these recent events could soon trigger job security fears throughout the rest of the industry.
But, how will these events actually change the industry? Or will it change at all?
What Is Going To Happen To Big Tech?
Yes, this could well be the demise of big tech offering grandioso salaries and insane benefits. But, it’s not expected to last long as the landscape continues to change. Many see this current as just that, a blip. It would be fair to say that many of the layoffs would signify the ‘end of the boom era for big tech’, but that doesn’t mean companies are suddenly going to start crumbling.
The current situation in big tech is a result of a few things:
· The covid pandemic
· Shift in consumer behaviour to doing things online
· High inflation
· Rising interest rates and
· Ongoing supply chain issues
Some other things to note elsewhere in the industry come from a CrunchBase report of tech company layoffs:
· The median amount of funding raised for a private tech company that initiated layoffs is $203 million.
· The median percentage of the workforce that was cut is 15%.
· Fintech was the sector that faced the most cuts, with companies including Klarna, TIFIN and Vise all laying off staff.
Is There Demand For Tech Jobs Right Now?
Venture capitalist at Benchmark Bill Gurley tweeted, “Best time in 15 years to start a company,” he tweeted. “Right now.”
So, yes. There’s demand. You might just have to take some steps to find it. Plus, while you don’t need a computer engineering degree to increase your job security, you should take the following steps to make sure you don’t do more worrying than working in the near future.
1.Talk To Your Manager
Could be more daunting that we’re suggesting. We don’t know who your manager is.
However, if your manager isn’t willing to give you five minutes to talk about something as important as this, maybe you shouldn’t be trying to stay in your role. You shouldn’t mention layoffs or being worried about job security. That’ll lead them onto saying whatever you want to hear.
You should get ahead of the curb by asking what’s going to come up in your annual performance review. If you don’t have one, check in to see if there’s anything you can go away to think about and work on to help your performance over the holidays.
2. Get Proactive!
Do you even know if you’re being paid the highest amount that you could? How do you know? Have you checked recently? Researching things like Tech Salary Guides and seeing what other jobs are out there is a good place to start.
Another way to be proactive about getting a new job is to network! Find webinars, meetups, or networking events in your area with people outside of your company. You never know who’ll you meet or what connections you could make. Even if you go for a fresh perspective on things, you could leave feeling a little more positive about things.
4. Use This Search Tool
This search tool helps you whittle down tons of opportunities using filters to figure out exactly what your next role will be. And, you can even apply with one click if you see one you like.
Don’t bother looking yourself, have one of our consultants find the perfect role for you, guide you through the interview process, negotiate the highest possible salary on your behalf completely for free.
Yep, we’ll find you your next role completely for free. Your next employer will be charged for all of our admin costs helping you find a new role. So, what are you waiting for?