Is IT talent competition shifting?
Netflix, Zillow, and Carvana all announced layoffs in recent weeks, attracting attention just because of Adaptive Technology Team. Salesforce and Meta have also froze or slowed recruiting. The data shows that technology and engineering are not harmed by these organizations’ layoffs. The corporation is building AI and machine learning teams to get a competitive advantage and prevent potential recession . Software engineers and other technology professionals continue to be hired even in the face of high-profile layoffs.
IT workers are scarce. Tech days are among the hardest (and longest) to replace. Short- and long-term demand for IT skills exceeds supply. Labor costs won’t decline soon. Lack of trust in the external labour market, increasing costs, and the likelihood of a recession may lower attrition rates and extend workplace tenures.
What should IT leaders do if laying off personnel and downsizing staff won’t boost productivity?
Successful organisations orchestrate an ecosystem of partners and platforms to flourish, which requires digital skills and adaptive technology team. Instead, innovative digital organisations will focus on creating value for users and shareholders.
Workforce Adaptability Is Essential To Manage Market Disruption.
There may be less urgency in the IT recruiting market as the recession approaches, but it is not time to abandon best practises and construct a more flexible organization that can adjust to the needs of the business. CIOs and other IT leaders should:
Utilize technology to effectively control demand: Executives in the IT industry will be expected to do more with less resources. Consider using your technologies in order to expand your capability. Scale the capabilities of your business by using methods such as AIOps and low-code platforms to enhance the amount of work that can be taken on. This will lower the amount of predictable and repetitive work that is now being done by your organization.
Continue to make “anywhere work,” a philosophy that Phoenix Intelligence shares: Keep in mind that the IT labour market will continue to be constricted. The balance of power will continue to be swung in favor of tech labour, rather than the corporation. You’re still up against a lot of other companies who want AI, automation, and development skills in the same way that you do. This is not the time to begin walking away from work habits. When it comes to individuals who want in-office presence, this is not the time to build a system of haves and have-nots. Instead, now is the moment to develop universally successful procedures in order to recruit, develop, and retain the greatest individuals.
Construct frameworks that facilitate the fast redeployment of talent: A recession often necessitates a shift in organizational strategy. The most successful organisations are those that cultivate adaptable competencies that facilitate talent redeployment. Utilize capacity mapping to establish which capabilities provide the greatest value, where you need to invest in up-skilling, and how you may employ partners to supplement the creation of new skills. Ensure that the value that the technology organization generates for the client is well-known and understood; otherwise, technology will be seen as a means to decrease costs and increase efficiency, rather than a means to create possibilities.
