Employers outside of the tech industry have struggled to find talented tech staff for years, but as tech industry layoffs continue, outside companies have the opportunity to secure top talent.
- Tech companies laid off around 160,000 employees last year and have already released around 100,000 employees this year.
- Companies outside the tech sector have a greater opportunity to hire incoming tech talent. Before, these companies would have been competing with big names like Microsoft or Amazon. Now, there is less competition.
- Recently graduated tech workers are likely where these companies want to focus. Hiring new grads allows companies to strengthen their tech staffing, Forbes reports.
- Younger workers value stability, flexibility, and making a difference.
Why it’s news
Businesses outside the tech sector may have less competition with Big Tech for new tech talent, but retaining that talent relies on the company’s ability to match younger employees’ values.
Mass tech layoffs have many worried about the stability of their current job, adding to the worries that recent graduates face. Younger workers are starting to apply to jobs further in advance of graduation, and many are looking outside of their preferred industry, Forbes reports.
While salary rates are important to younger workers, stability is among their top-ranking considerations. These workers look to companies known for adaptability and endurance in changing market conditions.
Flexibility is another critical factor younger workers are considering. Since the rising popularity of remote work, more employees have come to value the flexibility and work-life balance certain industries can provide.
Gen Z workers, however, are primarily looking for hybrid options rather than fully remote positions. While many want the flexibility of remote work, they also want the option to come into the office, Forbes reports.
Beyond stability and flexibility, most younger workers want to make a difference through their industry. The tech industry has been seen as one avenue to accomplish this, particularly in the climate technology, manufacturing, and semiconductor sectors.
These areas also happen to be industries where the federal government has recently made significant investments, causing the industries to grow rapidly.