06Jun

After a booming phase during the height of the Covid-19 pandemic, the tech industry is currently facing a trend of mass layoffs. Companies such as Microsoft and Google have cut thousands of positions in the last few months. In an effort to prepare for a darker economy, there are new layoff announcements emerging from Big Tech every day. Since the start of 2022, over 200,000 tech jobs have been lost. 

Tech jobs remain strong

While the recent layoffs at Spotify, Meta, and Amazon might seem daunting for those working in the industry, this isn’t to say tech opportunities are fading.

“Technology reaches far beyond the big names and is needed in almost every other field. These companies over-hired during COVID, and even with the layoffs, they are still larger than they were pre-pandemic. The IT workforce remains strong,” said Matt Schirano, a newly named Partner leading the Information Technology practice area at Green Key Resources. “Healthcare, finance, hospitality, retail, and other industries all require tech professionals to aid in their online presence and digital platforms.” 

So, despite these layoffs in the tech sector, tech skills will still be sought-after throughout 2023. ZipRecruiter mentions that employees are finding new positions quicker than expected, often in different industries.

They say, “Tech skills are in high demand across the economy, with government agencies, aerospace companies, health systems, and retailers frequently noting shortages of software engineers, cybersecurity professionals, data analysts, and web designers. Had tech companies continued growing at the breakneck 2020-2021 pace, they would have monopolized U.S. tech talent and made it impossible for employers in non-tech industries to hire tech talent. Now, other industries may stand a chance.” 

Opportunities in tech recruiting

This is also a great sign for the staffing industry. Tech recruiters will be able to reassure their candidates that their job opportunities are not diminishing this year. Every company nowadays is, in a sense, a technology company. Positions in coding, data, and AI are always going to be in demand.

The New York Times elaborates, “A lot of traditional industries need tech employees, so this is an opportunity for those companies to scoop up talent. The health care industry, the federal government, private companies in retail or manufacturing — all of them need engineers and other people with high-tech skills. What is Google’s loss could be Walmart’s gain.” 

If you’re seeking a new move within your tech career, the Information Technology team at Green Key is ready to help lead you in that direction. Browse our open jobs or connect with us on LinkedIn to start a conversation and work with our talented tech recruiters. 

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Green Key

Businesses are Seeing the Value of Blockchain

The bloom began falling off the blockchain rose a few years ago, as companies conflated the technology with the cryptocurrency frenzy. In a handful of sectors, however, companies continued to explore how blockchain could benefit them.

Now organizations in sectors well beyond the pioneers in finance are investing in blockchain to protect data, decentralize processes and facilitate asset and data transfer.

“It’s an appealing model for many sectors, promising transparency and trust as it helps make value exchange possible,” says a SmartBrief article. Although focusing mostly on the financial sector, which is where blockchain found its earliest uses, the article mentions the steady creep of the technology into other industries and even slowly becoming commoditized as “blockchain as a service.”

“Amazon and Microsoft both currently offer BaaS, and enterprises as well as startups are taking advantage of it,” says SmartBrief. Citing a Gartner survey of CIOs, the article notes that “60% expected their firms to start or continue adopting blockchain-based technology between now and 2023.”

Earlier this year, Deloitte issued a blockchain trends report. Besides describing the evolving technology and the features each different approach offers, Deloitte found that some of the fastest growth in blockchain investments was coming in such unexpected industries as professional services – a sector that includes the staffing and employment industry – and energy and resources. In each of those 38% and 43% respectively of the firms surveyed were spending at least $5 million each on blockchain initiatives.

Not unexpectedly, the largest percentage of businesses investing in blockchain were in technology, media and telecom.

“More organizations in more sectors — such as technology, media, telecommunications, life sciences, health care, and government — are expanding and diversifying their blockchain initiatives,” Deloitte observes.

Like the financial sector, life sciences and health care deal with highly sensitive medical data they must protect or face legal consequences. Those two sectors are where blockchain “can have a more immediate and meaningful impact,” says Deloitte. They are in an industry, the report explains, “In which data transparency, speed of access, immutability, traceability, and trustworthiness can provide the information necessary for life-altering decisions.”

Interestingly, Gartner assigns a similar importance – not life or death, but still vital – to blockchain’s value to media.

“Organizations and governments are now turning to technology to help counter fake news, for example, by using blockchain technology to authenticate news photographs and video, as the technology creates an immutable and shared record of content that ideally is viewable to consumers,” Gartner said.

As companies increasingly see how blockchain can work for them, and, as SmartBrief observes, with issues of interoperability and standards being worked out and “well-known financial firms and governments” becoming ever more involved, blockchain is fast becoming “more than a passing trend.”

Photo by Maxim Hopman on Unsplash

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Green Key