Sep 5, 2023
Recent news has been filled with reports of massive layoffs in the tech industry. Google, Amazon, Microsoft, Meta, Twitter, and many other large tech companies have laid offed thousands of employees in 2023.
These major layoffs have left countless highly skilled professionals seeking new opportunities. While these layoffs are disheartening at first, they present an unexpected silver lining for small businesses and workers. The availability of talented individuals from various tech fields can serve as a great resource for smaller tech companies.
The Blade team will explore how small businesses can leverage tech job cuts, as well as the new norm of remote work, and acquire skilled workers who can help propel their growth and innovation. And better yet, these employees will find new opportunities where their work and skills are more meaningful.
Tech Companies are Laying Off Employees Like Never Before
The amount of layoffs in 2023 at tech firms and global tech companies is unprecedented. In total, almost 200,00 employees have been laid off from hundreds of tech companies so far in 2023.
The tech industry, like any other, is not immune to issues with the global economy. Over the past months, we've witnessed several of the world’s biggest tech companies undergoing significant tech layoffs due to various reasons such as restructuring, mergers, the need to cut costs, or changes in market demand. While these developments have undoubtedly had a large impact on the affected individuals, it's important to recognize the potential opportunities that arise from these situations.
A Very Skilled Pool of Tech Talent
The main advantage for small tech businesses is the availability of highly skilled professionals. These individuals have a diverse range of expertise, including coding languages like HTML, Java, and Python, app development, database management, UI/UX design, cybersecurity, and more.
Their experience in cutting-edge technologies and their ability to adapt quickly to the evolving industry can prove invaluable for smaller companies striving to stay competitive in a rapidly evolving field.
Why Your Business Can Benefit from New Talent
More Capabilities
With the expertise of these professionals, small businesses can bolster their company’s capabilities. They can develop or improve websites, improve their online presence, implement new tech solutions, and better utilize analytics to make more informed decisions. There are now more available coders that would be able to take on projects you couldn’t before.
Drive Innovation
Big tech layoffs present an opportunity for small businesses to get fresh perspectives and ideas into their organizations. By hiring team members with diverse backgrounds, these companies can develop a better culture full of innovation and creativity. This can result in the development of new products, services, or improvements.
Tech Professionals Benefit Too
What’s important to remember is that the professionals that were part of staff cuts can also benefit in a big way from moving to a smaller company. Their happiness is of the utmost importance.
Tech professionals that are used to working in large organizations might find the possibility of working in a small business environment exciting. The agile nature of small businesses allows for faster decision-making, greater autonomy, and the ability to have a direct impact on the company's growth. Their opinions automatically matter more, and the work they are doing will have a greater and more direct impact. It’s also a way for their hard work to get noticed.
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