***TRIGGER WARNING - MENTIONS LAY OFFS IN TECH***
The tech industry is no stranger to big layoffs, and we don’t want to be ‘glass-half-empty’ with our approach here, but if the media is anything to go by - since the global pandemic, it's only gotten worse...
Wired has reported that In the last quarter of 2022, over 400 tech start-ups fired more than 74,000 employees – which was even worse than the mass layoffs in the second quarter of 2020 during the COVID-19 pandemic (when over 400 tech companies laid off more than 60,000 employees). In fact, more than 1,600 tech employees, on average, per day, were laid off so far in 2023.
It’s never easy to be laid off from a job, especially when it’s a tech position. It can be disheartening and even scary. You may feel overwhelmed with your next steps, especially if you don’t know what to do after being laid off in tech.
The good news is that there’s always hope. Here are some of our tips on how to bounce back from a layoff:
1. It may sound like a cliche but, stay positive...
It’s easy to feel defeated when you’re dealing with a job loss, but try your best not to let it consume you emotionally. Although at times this is going to be really hard, try not to wallow in your misfortune, instead try to use this time as an opportunity to focus on yourself and work towards something new; remind yourself daily that things will eventually get better! There’s a number of tools and apps you can use to help find peace of mind during periods of high stress. We recommend making use of: Better Health, Headspace and Happify.
2. Once you’ve mastered step one, or you’re at least in a slightly better head space...update your CV...
If you were laid off recently or if it has been a while since you last updated your CV take some time out of your day and give it a refresh! Make sure all of your skills and experiences are up-to-date so employers can see what makes you an attractive candidate for their open positions.
3. You may have heard the phrase ‘it’s not what you know, it’s who you know’ - network & reach out for opportunities...
Now, we’re not saying that you’re going to get the best opportunities purely based on your network. But, networking is definitely a step in the right direction of being at the forefront of where hiring activity is taking place. At this time, networking with other professionals in tech and reaching out for opportunities is extremely important. Dust off your Linkedin profile and make use of those valuable connections.
Knowledge is power - Utilise Online Resources And Tutorials: There are many free resources available online such as tutorials which can teach you new coding languages or frameworks that might make future employers take notice of your skillset if they didn't already see it on your CV/portfolio before contacting them directly regarding employment opportunities.
4. Keep your friends close, but your talent partner closer – make sure you’ve teamed up with a specialist tech talent partner...
These teams have their finger on the pulse of the market within tech and will be able to advise you on the best opportunities available to you.
Specialist tech talent partners are skilled and experienced in identifying job opportunities that match the specific skills, knowledge, and experience of tech specific professionals. They understand the nuances of different tech roles and can help you find the right fit.
Unlike generalists who are often overwhelmed by the complexity of technology roles, specialists have access to an extensive network of employers in the tech / digital sector so they can quickly identify suitable job openings. They also have expertise in negotiating offers, so will always find you the best package. (If you’re yet to have one of these, we know just the team, head over to www.weare5vtech.com)
So, with the above being said, make sure you look into all these options so you can maximise whatever aid there is available during this difficult time. Additionally, many companies provide career counseling services that offer free virtual sessions so be sure take advantage of those if they are available!
The fact of the matter is - nobody ever wants to experience layoffs but at times like these it's important stay positive and utilise resources available. With proper planning, dedication, and networking efforts hopefully everyone affected by big layoffs will soon bounce back from this setback!
If you're reading this and you're in the need of support in finding a new role - get in touch with our friends at 5V Tech - email@example.com