Tech jobs were hit hard. In the first two months of the year, 423 tech companies laid off over 120 thousand employees. It may not be as bad as it seems. "This kind of realignment happens regularly, and often companies take the opportunity to do this under cover of an economic downturn," says Rachel Bellow, a co-founder of Bonfire.
If we look at hiring and firing numbers over the past year, we can see that companies like Meta, Microsoft, and others have hired a lot more people than they have fired. Technology, information, and media have seen the biggest declines since last spring. Job seekers need to keep their tech skills up to date.
Staying relevant in your current position, surviving a company reorganization, or securing a new role will serve you well in your career. Career experts and tech veterans were asked to weigh in on the skills you need to succeed in tech in 2023, and some of them aren't very techy at all.
Since the world and the way we work have changed, how we define terms like management, communication, and leadership need to keep up with the times. The likelihood of us staying relevant and valued will always be there if we are wise about how we choose to grow, develop, and reskill.
The Most In-Demand Skills Report is a good place to start when assessing your experience and where you need to strengthen your skills. Companies are looking for developers who can weave in their knowledge of finance, sales, operations, and cloud computing too.
Twenty years ago, people were told to be specialists, but that's risky now when a skill can be automated. Danielle Boris is the CEO and founder of Sandbox, an HR technology company dedicated to empowering and motivating talent. Boris says that people should have a wide range of knowledge in one area, making them more valuable to organizations.
Many employers have shifted to a skills first mindset when hiring in the current job market. Andrew McCaskill, creator of The Black Guy in Marketing newsletter, says that a candidate's skills are just as important as a degree or previous experience. McCaskill suggests that you consider your skill set as your career toolkit and that you make a list of skills you don't have. He says that a skills first strategy can give you the confidence to navigate the job market.
Upwork released a list of the most in-demand skills in the next five years, and data showed that 60 million Americans performed at least some work as a result of being a freelancer in the last year. Having a complete toolkit is important for success for a person who works for themselves. Ryan Clark says that he developed most of his technical skills through self-teaching and trial and error. The more high-quality skills I have, the more opportunities I have to learn and be on the cutting edge of technology.