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Attracting and retaining talent post-pandemic
When one door closes…
We’ve said it once, and we’ll say it again: Big Tech hiring freezes could result in big opportunities for startups.
In the last few months, five of the biggest leaders in tech, Amazon, Meta, Microsoft, Google, and Apple, have slowed their hiring pace, while the likes of Netflix, Peloton, Robinhood, and Tesla have laid off thousands of workers. The hiring freezes and layoffs have softened the labor market, putting startups in the perfect position to scoop up the best talent from bigger tech companies—but with opportunity comes competition.
Despite the economic headwinds, the tech job market remains hot. Companies posted 1.1M tech job openings in the first quarter of 2022, a 43% increase from the year before. But as hiring slows down and layoffs increase, startups will need to do more to attract the wave of new talent Big Tech has dropped on their doorstep.
Another opens
Times have changed, and employees are no longer willing to work under the same conditions as they did before the pandemic.
Positions reserved for high-quality candidates are getting harder for recruiters to fill, leading startups to brainstorm new ways to attract and retain their talent. New compensation strategies are on the rise as employers adapt their policies to include more flexible and unconventional benefits.
Tech companies are at the forefront of redefining the workplace and are deploying new technologies to optimize operations so workers can perform their best.
See our list: Tech Companies Optimizing the Workplace and Hiring Now
Trending in tech 👾
It’s not just a phase, mom
Across the globe, employees and companies alike are beginning to recognize that remote work is here to stay. By the end of 2022, 25% of all jobs in North America will be remote. Companies that previously relied on their flexibility to attract top talent will need to adapt their offerings and do more than just be remote.
With so many employees working from home, startups have begun to imagine new ways to give their employees more support while working remotely. Benefits like generous home-office stipends are trending as employers realize they will need to compensate for perks their workers previously received in the office.
Stress to impress
Mental health benefits continue to be a hot topic, with almost half of all U.S. adults reporting struggles with their mental health during the pandemic.
As a result, companies are reevaluating their employee benefits in order to offer better solutions with more efficient support and care. In the past year alone, 30% of employers have made mental health a top priority for their workforce—but many employees still feel they need more support.
In order to maximize their workers’ well-being, employers will need to de-stigmatize mental health care, break down barriers to access, and give employees the support they need to succeed.
See our list: Hiring now! 5 Companies Prioritizing Employee Mental Health and Hiring Now
Black women leading the way
The Great Resignation has seen employees leaving behind their corporate jobs in search of meaning, equitable pay, and more support. However, pay only plays a small role in employee turnover, as statistics show that corporate culture is a much more reliable predictor of increased attrition.
During the first six months of the Great Resignation, companies with the reputation of a healthy culture experienced below-average turnover rates. This has led to a wave of new entrepreneurs, inspiring many to start their own businesses.
Black professionals, in particular, are turning to entrepreneurship at unprecedented rates. Increasing the number of Black-owned businesses in the U.S. by 30% from before the pandemic.
Black women are at the forefront of the entrepreneurship boom, creating 1.4M jobs for Americans. Yet, funding is still disproportionate for Black entrepreneurs, with 37% feeling like they need someone white on their executive team in order to receive the proper funding.
Toxic cultures, a need for more career mobility, and more equitable benefits sit at the top of the list when it comes to why Black professionals leave their corporate jobs. As more companies seek to attract and retain talent, employers will need to make cultural changes that enable the retention of Black tech workers—all the more reason why there is a critical need for more Black founders in tech.
See our list: 5 Black-Owned Tech Companies Hiring Amid 2022 Layoffs
Techs response to Roe v Wade
In the wake of the U.S. Supreme Court’s decision to overturn Roe v Wade, major tech companies are tweaking their benefits policies to support and provide health care for women in their workforce.
The tech industry has an opportunity to step up and play a critical role in the safety, security, and well-being of their women employees. Tech giants like Amazon, Microsoft, and Meta have extended their benefits to include the expenses necessary to support every employee in their right to make the healthcare choices that are right for them.
While experts say that offering such benefits should be a top priority for tech companies trying to attract and retain talent, employers will need to address the stigma around abortion-related benefits and work hard to keep their employees’ data private and secure.
See our list: 5 Major Tech Companies Prioritizing Women’s Healthcare Benefits for their Employees Amidst Roe v Wade
From our Blog
A third of Americans have completely pivoted their career field since their first job out of college.
In fact, 72% of U.S. tech employees are currently considering a job change, and with over 11 million job postings open in the United States, it can be overwhelming (to say the least).
We want to make the job search a little easier for you by sharing our top 7 job-search tips to help you narrow your search and find your next job with ease.
Tech industries in the spotlight
7 Companies Hiring Top Tech Talent Amidst 2022 Layoffs
The job market is experiencing a shift with a wave of major layoffs across big tech companies pushing top talent to explore open roles at mid-sized companies. Here’s our list.
5 Tech Companies with Unbelievable Benefits Hiring Now
If you’re looking for a new role with benefits that fit your values, there’s no shortage of opportunities available. See our list.
5 Companies Offering Unlimited PTO and Hiring Now
If you’re interested in working for a company that promotes work-life balance, offers UPTO, and boasts other unconventional benefits check out our list.
Hot startups hiring now 🔥