Hiring in IT during a recession

IT Professionals Go Full Steam Ahead

The fascinating thing about the technology sector is that it keeps growing through each recession. When Microsoft's former CEO Steve Balmer predicted the rise of cloud technology in 2008, he also predicted the need for more tech professionals.  

As we increasingly turned to technology in marketing, product development, infrastructure, and other areas, the need for professionals with that skill set also grew. And with each recession, the demand for technology professionals has increased.

The need for a highly skilled workforce is still a priority for tech companies, but with the current climate of Meta and Twitter laying off staffto account for recent changes in their business strategies, in addition to many sources reporting hiring freezesin the sector, it will be interesting to see whether the IT sector will buck the overall trend once again

So how will organizations approach hiring during a recession with thousands of top-tier talents from Meta, Twitter, and Amazon suddenly available in the current market? 

In October 2022, we surveyed 1,000 IT decision makers in the US and UK to determine how well prepared they are for an economic downturn. We discovered that the ability to attract and retain top talent is the biggest concern for 62.3% of the organizations surveyed over the next year. Additionally, over 60% of the enterprises surveyed are implementing hiring freezes of staff reductions in response to the prospect of a recession. 

We can't tell you who to hire but ensuring that you understand your needs as an organization before hiring can make or break a quarter. Hiring is, of course, just one of many challenges we will face in 2023. If you want to learn more about the other challenges we could be facing in the coming year, click here.