Reports of tech layoffs and slowdowns in startup funding keep coming. One estimate predicts that about 90,000 jobs will be eliminated by 2022. At least in the tech industry itself.
This might suggest tougher times are coming for tech professionals, but that’s not always the case. On the contrary, the technology talent job market remains strong, and demand continues to grow for technology professionals who can blend business requirements with tech-savvy skills.
These are the words of Jeff Williams, Vice President of Enterprise and HR Solutions at Paychex, and his take on the future of the tech talent market in the year ahead.
Q: Despite the headlines, is the balance still overall favoring tech professionals? Is demand for skills still strong?
Williams: “Technology skills will always remain important to businesses, regardless of changes in the macroeconomic environment. We are at a unique time when it remains a priority: scale may still be tilted, but note that demand for technical professionals remains strong as we plunge into an increasingly digital world. is important.
“Traditional IT jobs relied on infrastructure management and long and costly capital upgrade cycles. Today, with so much infrastructure in the cloud, physical components of IT systems are Getting the business requirements and configuration right has become more important than managing.
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“What was important to tech professionals yesterday may not be important tomorrow. Now that we can handle the structure, our technical experts are focused, and we are doing more to ensure positive business performance while making our operations more efficient each month.”
Q: What are the most important technology skills for employers, especially in uncertain economic times?
Williams: “The last few years have seen an explosion in demand for network and cybersecurity professionals. Today, we need people who can translate business, someone who can listen to business problems and translate them into technical solutions is a rare skill.”
Q: What types of companies will continue to have the strongest demand?
“From 2023 onwards, SMEs will need to sharpen their digital presence in order to grow successfully and attract talent. found a need for investment and automation in retail, service-based organizations, and healthcare, including a need for technical experts for companies looking to increase efficiency through robotic process automation is only rising.”
Q: What initiatives or actions should technology professionals take to demonstrate value to their business and continue to grow their careers?
Williams: “Technology professionals with business acumen are in high demand as companies continue to adapt to technology. Technology professionals who demonstrate how to do so are more likely to be hired or retained in the event of a headcount reduction effort. You can understand where the industry is going better than people.It is the driving force of your business and an irreplaceable asset.
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“Be a student at your company. Understand your income statement, balance sheet, competitors, and business environment. Go to places that differentiate you, your knowledge, and your advantages. More To build the bridge to senior positions, you must demonstrate that you understand your business and the role that technology plays in your operating environment and where technology sits within it. People who do tend to be the center of attention.”
Q: Should professionals consider entrepreneurial opportunities? Advice on starting or joining a startup?
Williams: “As we watch tech giants scale back, we often see laid-off employees leapfrog to start their own businesses. And it’s not as dangerous as it sounds. , often find it more attractive to outsource certain functions to third parties, which presents a great chance for tech professionals to succeed as entrepreneurs.
“But startups don’t last on ideas and opportunities alone. Hopeful entrepreneurs should question their motivations. Before starting a business, ask yourself, ‘The problem I have to solve here is What?’ You need to ask yourself, “What does my business need?” “Can I defend what I am building to my friends and relatives?” Love the story, but it really focuses on how you can create something of value in a very crowded market.
“Entrepreneurs also need to assess their talent needs. To create a solid business plan, they must first perform a realistic analysis of their own strengths and weaknesses. Identify talent: who will sell the product and how will they communicate its value to the market?
“Educate yourself on the relevant regulations. A stable business is a compliant business. There are growing nuances and sometimes contradictions across local, state, and federal regulations, so explore different scenarios.” It is important to plan, which includes not only limiting factors and controls, but also identifying available grants, funding, procurement, and revenue opportunities.”