When 'Quitting' was cool

Who remembers when quitting your job was a trend in 21-22?

The past few years have seen the Tech market rise and fall, we've seen the following trends, The Great Resignation, Quiet Quitting, and now we're preparing for the 'Big Stay'.

But what can we prepare ourselves for with the rest of 2023, and how should we navigate the market?

Let's jump straight in.

First, let me bring you back to..."The Great Resignation"

(If you're an agency recruiter reading this, you'll remember Q1 with fond memories)

The Great Resignation, an era marked by a surge in job-hopping and employee turnover during the pandemic, has come to a close, but what was this trend?

Quitting your job in 21-22 was almost considered a 'cool' thing to do. with Quitting becoming a trendy phenomenon, which meant millions of workers left their positions.

Employees were considering what work/life balance meant to them post-covid and were striving for better pay, more flexibility, and better work culture.

Now we're seeing 'the Big Stay'

Now we're seeing fewer people switching jobs, indicating the start of a new workplace trend, which people are calling "the Big Stay" This shift reflects a growing number of workers opting to remain in their current roles, reluctant to risk uncertainties associated with changing employers. (with all the talk of a recession looming over us)

Higher salaries and bonuses for job switchers have diminished, while skill shortages have prompted businesses to focus on enhancing employee experiences to retain staff.

We're seeing salaries stabilise, and employers becoming increasingly picky with whom they hire, making it more competitive for workers.

The upcoming months will witness a wait-and-see approach from many workers as they anticipate a favourable job market before considering new opportunities.

It is no longer a candidate's market, and we're seeing even the tier one tech giants cut back on costs when it comes to employee perks and benefits.

Embracing Diversity and Inclusion: Responding to Industry Demands

The tech industry has faced increasing calls for diversity and inclusivity in recent years. Companies have started taking more action to create equitable and inclusive workplaces. One of the key areas where change has been observed is in recruitment practices.

Companies are now requesting diverse candidate shortlists, and the focus on diversity goes beyond the hiring process itself; it is about fostering a culture that celebrates individuality and inclusiveness.

Tech companies must openly support diversity, promote their commitment to inclusive hiring, and hire based on skills, experience, and cultural fit to strengthen the industry.

If you are not implementing DE & I initiatives you may be losing out on great talent. (Check out our Force for Good initiative, and reach out if you need help understanding how to implement these initiatives into your hiring practice and culture)

The Skills Gap (Cyber Security, I'm looking at you ????)

I'm going to say this first, companies need to be focusing on graduate and entry-level candidates, we've seen the tech industry face criticism for favouring mid-to-senior level roles, leading to a shortage of junior talent.

I've even seen entry-level roles asking for 2-3 years of experience, which, fresh-out-of-uni, you're not going to have.

We need to address the skills gap.

Addressing this gap requires companies to invest in training programs, hire and mentor junior professionals, and provide opportunities for skill development.

Gone are the days of Ping Pong tables

In a competitive tech job market, companies need to stand out to attract top talent. Strong employer branding, transparent job listings, and a well-defined application process is critical.

Streamlining an interview process, and providing adequate, and timely, feedback to unsuccessful/successful candidates is essential.

Additionally, companies should offer attractive compensation packages, flexible work arrangements, and meaningful benefits to appeal to candidates' needs and aspirations.

The takeaways:

• Investing in junior talent
• Embracing Diversity
• Promoting Transparency and Streamlining recruiting processes
• Building a Great Company Culture, and Company brand

I hope I've hit the nail on the head here, this information is all from daily conversations with candidates and hiring managers.

As always, please reach out if you need any help, guidance or insights into the Tech Market - I specialise in Cloud, Ops and Cyber but I have a team behind me that covers pretty much everything from Software to Project Services.