Sunday, November 27, 2022
Published 3 Weeks Ago on Sunday, Nov 06 2022 By Mohamad Hashisho
Layoffs have been taking place slowly since the pandemic started. Spiking the anxiety levels among employees making them more uncertain about their jobs than ever. This year though, the mass exodus of employees and the intense wave of layoffs have reached alarming levels. Leaving many employees without their source of income in its wake. In contrast, when we consider that the big names will survive the layoffs, their employees might have better luck finding a new job after being laid off. We must turn to startups and contemplate the damage of layoffs and how they can drastically change the startup scene.
Layoffs and hiring freeze gives startups the window to pick up the talent they previously not in the job market since they would have been contracted to a job before. This sounds like a great opportunity, and it might be, but you need to approach it with a level head. Generally, startups have been held back because they cannot compete with big names when offering salaries. Such a gap in wages offers forced startups to find other ways to attract the remaining talent in the talent pool. Upon mass layoffs, startups can scoop in to try and capitalize on the opportunity for high-skill employees on a lower salary expectation.
Moreover, most employees laid off from a big tech giant often possess the skills needed by startups. A good starting point is locating lists of employees recently laid off. Then, seek out potential employees who share your vision and mindset and ensure they will be flexible regarding your salary offerings. Especially post-pandemic, workers would be more prone to accept less pay for moral reasons, and startups have a moral advantage in the job market. Often these employees are looking for a purpose in their future jobs, and in startups where innovation is front and center, they might feel at home.
Finally, you might face a challenge in the mindset. Startup layoff is way different from significant companies’ layoffs. It will always present a risk, yet it can reward you if you approach it as a test of your recruitment skills and process. After all, it is about rigid and robust hiring and training processes. Allowing you to acquire the best talents and shift them to fit your company’s visions and goals.
Firstly, and most importantly, if you are satisfied with the level of skill you possess in your craft or even honestly believe in the potential you have to grow in a sector you choose, you might get the bargaining power you need. Post layoffs, and ironically, demands for workers sometimes increase. It might be the perfect chance to take your time and find the proper fit. Economic pressure continues to grow, and the needs to meet bills and financial deadline keeps creeping out further. Yet the atmosphere in the tech sector allows you to make some thought decisions and weigh up your options wisely.
Furthermore, various people became part of tech companies to leave a mark at an innovative venture. The reality of just being another brick in the wall can limit creativity. Such a significant shake-up can present you with the perfect opportunity to seek a minor role yet with more creative leeway that might prove ideal for you as a job seeker. Often such startup roles are much more suitable for your newly acquired aspiration post a layoff. And the upside is in case of a layoff. A startup layoff will not sting as much.
In a way, layoffs are inescapable. Companies will never stop slashing their workforce to save money. All businesses during their lifespan will experience a layoff phase. It usually affects poor performers in the company, but sometimes it might contain an arbitrary aspect to it. Making you feel like just a number on a sheet. But how can you avoid a startup layoff?
Employees’ job is frequently excellent, but there are often too many unnoticed results. Employee effort and outcomes are meaningless if no one sees them or notices them. Utilizing LinkedIn for recommendations is a terrific approach to gaining attention. This is a fantastic approach to sharing significant achievements with coworkers and peers.
Employees frequently grow complacent and stop looking for opportunities to challenge, develop, and progress. This could sometimes be challenging, especially when an organization goes through upheaval. Employees must constantly seek ways to keep current and avoid letting the pace of change get in the way.
Employees that are unwilling to take on new work or initiatives outside of their regular job description can be immediately identified by management. It’s simple to refuse more work, yet challenging oneself and taking on new tasks leads to job security. No matter how courteously an employee declines labor outside their regular obligations, it still reflects poorly on them. The management will retain the workers who can change their careers and fill the slack when layoffs are an option.
The first place many managers look when deciding who needs to be let go during a reduction in force is the documentation of performance reviews. Companies defend themselves against legal action during a decrease in power by using written reviews and reprimands. Make sure you regularly meet with your manager to discuss your performance review. This will guarantee that you are informed of expectations and feedback. Additionally, you must ensure that any performance gaps are filled.
The recent trend of layoffs is at a time of low unemployment and high demand for workforce and talent. Startup layoff does not always mean that there is an apparent effect on tech employment as a whole. When releases occur, it is not black or white. Instead, it is a gray area. You can appeal to laid-off workers by trying to incorporate them through a contact or temporary basis. Many of these recently unemployed workers would take you on that offer directly. The gray area exists since most employers turn to these workers as a quick way to ensure delivery on critical projects. In the long run, employers must stay diligent and aware of the macroeconomic aspects of significant layoffs and minimize startup layoffs. Startups are necessary to ensure the market does not get too complacent with the whales around.
Layoffs are bound to happen, even when they seem unrealistic or unnecessary. Big names will always use this as a form of correction. Startups cannot afford such luxury, and then back to a wall, a startup might collapse rather than let go of its committed workforce. But it remains your duty to not only focus on the harshness of the current job market but to adapt to it as much as you see fit.
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