After the technology industry experienced a hiring surge, the tides have turned.
This week, Redfin and Compass laid off a combined 900 employees.
Coinbase said it’d be laying off 18% of its workforce.
While it’s difficult to see companies—technology or not—lay people off, the writing’s been on the wall.
Between inflation, a looming recession, and many technology companies trying to grow too quickly, a pullback was inevitable.
Still, technology hiring and staffing strategies shouldn’t fall by the wayside.
In fact, we’d argue that now’s the time to double down.
Wellington Steele & Associates can help.
Here’s how WSA can help with your technology staffing needs:
Hire People Who Can Have an Immediate Impact
Good times or not, the name of the game in tech is the same: Speed.
Innovation is rampant, and the companies that can change the game the fastest will usually come out on top—just ask Canva, Asana, Shopify and countless other technology and software companies that answered the market’s call.
While we can attribute many factors to the success of these companies, a lot of their success had to do with their ability to hire people who’d come in and make an immediate impact; slow sprints and failed launches are the downfalls of many.
Unfortunately, finding these right-fit candidates capable of making an immediate impact isn’t always easy—unless companies have a strategic partner in their corner with a vetted talent pool at the ready.
By working with a partner with proven technology staffing solutions, companies not only bypass the often time-consuming and tedious processes related to recruiting and interviewing via recruitment process outsourcing, but the right partner can significantly increase the likelihood that a new hire will fit in with the company, its go-to-market (GTM) strategy, and culture.
The result? Someone who makes an immediate impact.
Fast Hiring to Keep Pace with the Unpredictable Tech World
If speed is the be-all and end-all for tech companies, flexibility is just a clip behind it, and recent times have shown us why.
Consider some of the shifts companies of all shapes and sizes made over the past couple of years.
Peloton dove deeper into workout technology to take advantage of the at-home fitness boom.
Traditional brick-and-mortar retailers, like Best Buy and Dick’s Sporting Goods, bought into curbside pickup and digital ordering to navigate store closures.
Spotify pivoted to podcasts as ad revenue fell when advertisers stopped spending during the COVID-19 pandemic.
When the world throws a curveball, and these pivots can make or break any company, it’s not uncommon for there to be a need to hire people with skill sets and expertise not currently in-house.
Best Buy, for example, may have needed people with logistical skills and the know-how to successfully implement curbside delivery, while Spotify could have needed to hire an executive with experience scaling a podcast engine.
Whatever the reason, there was an immediate hiring need; a need that staffing and recruiting companies are equipped to handle with their talent pool full of candidates with diverse skillsets and expertise.
Hire with Confidence
The average cost of a bad hire is at least 30% of the person’s first-year expected earnings.
So, a tech company based in New York City hiring an Information Technology Director for $200k would be out at least $60k, on average, if that person doesn’t work out.
While bad hires are inevitable, companies can take steps to lessen their chances.
One of those steps is to work with a technology staffing solution partner, like Wellington Steele & Associates, that only brings vetted candidates to the table, so when companies make a hiring decision, they can do so with the confidence they need to know they’re making a smart decision in the best interest of their company and GTM strategy.
WSA: Helping Technology Companies Hire Top Talent
The tech world is unpredictable.
That’s one of the reasons why the industry is so exciting, but it’s also a big reason why the life expectancy of even the world’s biggest companies continues to drop.
There will always be market forces and consumer behaviors out of the control of tech companies; there’s no getting around that.
But one part of their business they can always control is their hiring and staffing strategy.
For nearly two decades, WSA has been helping technology companies keep up with hiring trends in tech while identifying and procuring people who can help them thrive now and in the future.
Want to learn more about how we can help with all of your technology staffing and recruiting needs? Reach out today to learn more.