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Technology

Tech layoffs: Smaller companies still hiring top talent as tech giants cut jobs

April 27, 2023

Technology

Tech layoffs: Smaller companies still hiring top talent as tech giants cut jobs

April 27, 2023

Photo by Annie Spratt on Unsplash

So the question is, are you getting just an absolute deluge of new clients, people who have been laid off who are looking for new work? And, are they able to find it? Is it relatively easy still?

NEHA NAIK: Yeah, that's a really good question. Yes, I'm getting a couple of different clients actually. So I'm getting clients that are people that are laid off unfortunately. And yes, we are able to place them still in a pretty decent time, which is anywhere from 6 to 9 weeks.

Now the reason behind that is while the bigger tech companies are laying off, the smaller tech companies or product companies, especially the B2B SaaS world are still hiring for top talent, top tech talent. Now they might not be hiring for hundreds and thousands of jobs, but they're definitely hiring for 7 to 10 positions every quarter. So we're still able to place a fine and place top talent for those companies.

I'm also working with companies that are scaling steadily. And they might not be scaling a lot by a lot of numbers, but they're scaling enough to where they still need recruiters help to find the top talent because, again, the market is now saturated with a lot of talent. And so having recruiters like myself in my agency to really kind of figure out what the right person is for their specific company goes a long way. And then I have clients who are also hiring me to transition people off. So transitioning employees off post layoff and how to kind of secure their future as they look at other companies to join.

- Even amid layoffs, and even on the other side of that, the kind of talent acquisition strategy that companies are going to be rolling out as they do perhaps restaff or retrain or skill in some other parts of the business, where do you think artificial intelligence plays a role in that? Is it on one side making the layoffs for the companies? Is it making that a more clear decision for them or an expedited decision? Or is this something on the other side that they're also employing to say, OK, if we've laid off in one category driven by an AI decision, where is AI telling us to add on in other parts of the business?

NEHA NAIK: Yes. And you know, what I will say is tech companies are always innovating. They're always growing. They're always looking to do the next best thing. So integrating AI to kind of manure those decisions for them is huge.

And so where I have seen AI really come in, I mean, I'll talk about talent acquisition in a little bit, but also just the rework. So we have a client right now where they're using AI's help to do a complete company reorg just based on where the need is for their products and services and how they can potentially pivot, and so using AI to guide those strategies. So they might be laying off people from one department, but they're growing another or they're doing a complete restructure of one department. And they're telling people like, if you this is not what you want to do because your job description said differently but we are pivoting, then you are welcome to walk away. And we'll happily provide severance.

From a talent acquisition standpoint, the way that companies are using AI is to just reduce talent acquisition cost. So having AI do any type of initial prescreening or reviewing or resumes or protocols so that they are not having to pay a sharp fee when a company finds someone. So they're still using the element of interviewing and prescreening internally, but then they're actually using AI to make the process a lot more streamlined and efficient.

Read the full report here

While layoffs continue among tech giants, smaller companies are quick to snap up "top tech talent."
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