Is it a good time to hire

Is it a good time to hire?

Some tech companies are hiring again. Is this the bottom of the market and is that light we are seeing at the end of the tunnel? Business has been slow at Prime Team for the past 6 months as the market rapidly cooled after the post pandemic hiring boom. From our perspective it appears that…

Published on August 21, 2023
Written by Prime Team Partners

Some tech companies are hiring again.

Is this the bottom of the market and is that light we are seeing at the end of the tunnel?

Business has been slow at Prime Team for the past 6 months as the market rapidly cooled after the post pandemic hiring boom. From our perspective it appears that the market may be bottoming out, with some clients now starting to hire again.

There is currently a surplus of technical talent on the market due to well documented mass layoffs at tech companies. Some clients are taking advantage of this unprecedented opportunity to build their teams via the much larger than normal pool of skilled tech workers available for recruitment.

The current market represents one of the best hiring opportunities we have seen in our 18 years in business. In fact, the last time we saw a large talent pool of this size was in the aftermath of the 2008 Global Financial Crisis. However, GFC layoffs were not as technology-focused as the ones we have seen recently, making the current market particularly advantageous for tech companies.

Companies that are willing to invest in talent now will be well-positioned to take advantage of the exceptional talent available. While it may be tempting to hold off on hiring until the market fully stabilizes, doing so may mean missing out on the best candidates.

From our perspective, there is reason to be optimistic about hiring picking up. Prime Team exists because there is usually fierce demand and competition for the best tech workers. While that demand may have temporarily abated, we expect an incremental return to a more normal and highly competitive market this year.

Published on August 21, 2023
Written by Prime Team Partners

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Bridging the Talent Gap for Venture-Backed Companies

Mitigating Financial Drain from Bad Sales Hires

Navigating the Post-Pandemic Job Market: Strategies for Technology Workers