Changes in Tech Hiring Since COVID-19 and How Companies Can Adapt

Everyone has seen by now that hiring and job security has changed in nearly all organizations. At first, many thought that the industries most affected by COVID-19 (airlines, restaurants, etc) would be the only ones affected, and while it’s true that these verticals are taking a larger hit in hiring than most, many other companies are not exempt from the barriers that make way for layoffs and hiring freezes. This is especially prevalent in technology startups; Crunchbase estimates that at the start of April, almost 200 startups have begun laying off their employees and over 15,000 individuals have been laid off as a result, and these numbers continue to rise. Even in the realm of internships, community data shows that there are just under 300 internship programs that have been cancelled, and most of the companies within those 300 are big names like Yelp, Sony, and Quora. Moreso, with smaller startups taken into account, this number is likely much larger than 300.

Nowadays, it’s a common sight to come across a LinkedIn post regarding someone’s recent layoff. In response, there have been many solutions that have looked towards helping people through the hiring journey during this tough time. On the other side of the spectrum, companies ranging from new startups to Fortune 500 companies are searching for ways to keep their organization chugging despite their loss of talent. Many are doing so with the help of product agencies.

Product agencies fill the gap between the need for quality work and sensitive timelines. At a reasonable cost and flexible to work for short and long-term duration, they can help relieve some of the pressure that hiring losses have produced. Whether there was a valuable project that a group of new hires were set to work on or a halt in your product’s backlog, agencies can help continue the innovative processes within an organization. At Waker, we have the design and software support to help build out custom software for startups, large multinational companies, and everything in between.

Despite some of the struggles throughout the technology sector, there is still steady growth seen throughout most organizations. Whether it be the downsizing or the incorporation of external help, it’s encouraging to see that the solutions to make ends meet have been starting to work and build traction for companies. If you or your organization could use some help to continue your innovation processes during this time, feel free to reach out to us for a free consultation on how we can help.