Companies continue to lay off 8-10% of their workforce, especially in tech with YouTube, Discord, and Paypal. The latest is SpiceJet, the latest organization letting go of their tech and non-tech staff. Pairing with funding winters which continue to plague the start-up world, the employee. With Growth being replaced by Profit, the bottom line chase has impacted the employees significantly.
The rise of the number of employees in 2022 from 80,000 to twice, coming at roughly 164,969 tech workers and the number rising for non-tech workforce. Signs for the tides being turned and slowly the market becoming more employer-focused, the job seekers need to understand these new trends where job security has come out to be a myth.
There is a lot that can be done from your end to make yourself a star candidate for the current times –
- Have transferable Skills
Knowing your domain is excellent but having transferable skills that can be used in various industries will help you widen your net for prospective opportunities.
- Have a dazzling Resume
No matter what you do, have a resume that speaks for itself. It truly should represent not only what you have done so far but also your future career prospects.
- Network, Network, Network
It may seem redundant but having a professional network will always outweigh a good application. Here you already are a shoe in and all you need is to get through the interview process.
Build that network which acts as a security blanket.
- Mental Fortitude
It may seem as if every career coach, HR, or even one random LinkedIn account will give you the same advice, and that is to know that getting laid off in this economy has nothing to do with your talent or skill, it is simply an arbitrary decision. Keep your job hunt going before the final gong so to speak.
- Start your job hunt ASAP
This may seem counterintuitive especially if you like where you work, everything is hunky dory but having a backup would always add to your confidence and let you also see the opportunities available in the market.
These are only some ways to weather the storm that looms over the horizon, but also to bolster yourself with skills that are in demand within your domain, recessions come and go but knowing your worth and enhancing your skill will always be in trend.