Estimated reading time: 6 minutes
most relevant
Layoffs have become an unsettling norm across industries. Companies that rapidly staffed up during the pandemic in response to surging demand are trimming staff as demand wanes. It¡¯s a vicious cycle ¡ª many of these companies will be hiring again within the next year to keep up with a constantly shifting consumer landscape.
Most recent layoffs have disproportionately affected non-technical employees, hitting departments like human resources, recruiting, and marketing hard. They¡¯ve also had other ripple effects ¡ª shelving diversity initiative progress and causing anxiety throughout the workforce. And to add to it all, companies are still struggling to recruit for tech roles and continuing to invest in digital transformation efforts in hopes they¡¯ll be more efficient and competitive in the future. A future that¡¯s already here.
TL;DR: There¡¯s a severe imbalance in the labor force, and companies need to think about modernizing their workforce like they think about modernizing their tech. It¡¯s time to move past the band-aid effect of layoffs and upgrade to a truly sustainable talent strategy.
Continue reading