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      2023 Tech Hiring: 7 Ways to Stay Competitive in Tough Job Markets

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      It felt like not long ago employers were eager to fill open roles in anticipation of accelerated growth. Now, jobseekers are feeling the pinch of layoffs and a hiring slowdown due to market shifts. 

      Whether you are unemployed, underemployed, or feeling complacent in a role, it’s easy to feel the effects of a lackluster job market. That goes for jobseekers on Hired or out in the world when they don’t see an influx of interview requests or responses to applications. 

      While it is tough out there right now, it’s important to remain proactive and not let the weight of the hiring market bring you down. In this blog, we provide transparency on the state of the market, practical guidance for the job search, and resources to boost your employability during harder times. 

      It’s not you, it’s me the 2023 hiring market

      So, why is it so hard to find a job right now? The answer boils down to a number of reasons including economic instability, the Federal Reserve’s policy decisions, cloudy hiring processes, and industry-specific trends.

      Tech hiring landscape

      Following a high of over 4 million for tech hiring in 2022, we are now seeing the dust settle into some lows as tech faces particular hardship when it comes to the labor market. The plethora of headlines on thousands of tech layoffs has been hard to miss in the past year. 

      As you probably know, competition is tight for tech candidates. Tech companies are still hiring for positions but at a slower rate than before. In contrast to the beginning of 2022, you’ll find on average, one job opening for every two candidates on LinkedIn. Last year had a more even ratio of one opening per candidate.

      Quit rates 

      In this market, more workers are also staying put – thanks to factors including those mass layoffs, interest rate increases, and inflation. 

      The Bureau of Labor Statistics reported the number of people quitting dropped by 49,000 from March to April. The decreased quit rates indicate low confidence in the market. 

      Unstable hiring processes

      The abundance of jobseekers applying to positions adds pressure and time to many hiring processes. We’re referring to a 40% increase in applications compared to this time last year according to LinkedIn.

      There is also a lot of shakiness at the moment for numerous HR and recruiting teams as economic uncertainty has a ripple effect on budgeting and of course, hiring. 

      Many companies also have more team members incorporated into the hiring process (to boost equity and collaboration) but more people typically means a longer interview cycle. In fact, this year, it now takes 44 days to hire a new team member, setting a record high.

      What the experts are saying 

      During Hired’s Breaking Through Bias virtual event, career experts candidly weighed in on the leverage jobseekers have in the current job market. Read their firsthand insights below for a better grasp of the big picture and advice to empower your search. 

      Nina Roussille, Assistant Professor, MIT

      “Specifically, in the tech sector (defined narrowly as the Silicon Valley tech roles), it’s been more dire than it used to be… Try to redefine for yourself what a tech role is. There are now opportunities in tech occupations in companies that are not defined as tech firms. Every firm out there, even in the older industries, needs tech workers. Those industries have been way less affected recently than Silicon Valley firms. Broaden your perspective. Think a little bit more creatively about what a tech role should be. 

      The other one is remote work, which makes it so you don’t need to find a job exactly where you’re located. A lot of these dinosaur industries are more open to remote and flexible workers. My optimistic take is it will require more creativity and a broader search but there are still opportunities out there.”

      Maria Petnga-Wallace, Diversity, Equity, & Inclusion Consultant, Colorintech

      “There’s still a need for particular skills, especially in AI and machine learning. Within the company I work with in cyber, there’s still a real drive to have, for example, female and underrepresented group representation. I encourage everyone to network. Identify the organizations you wish to work with in the near future and engage with people in those tech firms.”

      Mercedez Bluebyrd, Program Manager of RISE, Gusto

      “You have leverage in really understanding who you are and what you bring to the table. If you’re a talented person who really understands what you can do for a company, there’s a value add there and that leverage is limitless.”

      New opportunities in new industries 

      Echoing Nina Roussille’s point above on broadening your perspective, there are currently established employers – not typically associated with tech – making a push to hire tech jobseekers. From hotel chains to retailers, investment firms, and the federal government, you might be surprised to find opportunities in other industries you previously hadn’t considered. A company doesn’t have to be in the tech industry to be a top tech employer. 

      1. Upskilling is key

      Identify high-demand skills and industry trends, and learn to align your application (or Hired profile) accordingly. Investing time in learning new programming languages, refining project management abilities, or earning relevant certifications will not only broaden your skill set but increase your marketability and adaptability amidst the competition. 

      Leverage online learning platforms, attend industry events virtually or in person, and engage in hands-on projects. Learning is the cornerstone of employability and a powerful tool to stand out.

      Get more details on why and how to upskill in this blog and check out these Hired partners helping tech jobseekers acquire in-demand skills. 

      2. Refine your personal brand

      What should people think about when they hear your name? What populates when hiring managers or recruiters search for you online? Your personal brand is a reflection of your skills, experiences, and values. 

      In an employer-driven market, it’s more important than ever to articulate your unique value proposition. By developing a distinct and authentic brand, you effectively differentiate yourself from other candidates and leave a lasting impression on potential employers. So, how should you go about it?

      Start by identifying your unique strengths, skills, and values, then tailor your resume, cover letter, and online presence to reflect these qualities. Showcase your expertise through thoughtfully crafted content on professional platforms, engage in relevant industry discussions, and seek out networking opportunities to build a strong professional community. A cohesive personal brand not only boosts your visibility to recruiters but also demonstrates your commitment to personal and professional growth.

      Watch this panel discussion for expert advice on how to develop and build confidence in your personal brand.   

      3. Leverage the power of networking

      Your network is your – you know the rest. And with thoughtful networking, it is true! It’s not just about making connections. It’s about building meaningful relationships that can open doors. 

      Outreach may sound pretty terrifying for some but getting out of your comfort zone might bring more opportunities than you realize. Start with second-degree connections such as friends of friends, acquaintances, and old colleagues.

      Before reaching out, determine the value you offer as a professional, your main skills, and your objective. Keep a consistent narrative across platforms (showcase that personal brand!). And remember, you’ll get in return what you give, whether it’s value, concern, or empathy. Entering networking relationships with a ‘giving’ mindset is key.

      Use this resource as a more comprehensive guide for networking with intention and confidence. 

      4. Make every interview count

      You may have to work harder with what you have on hand. This means preparing more and practicing your code or other technical skills to ensure you ace assessments and interview questions. 

      You may also consider having fewer interviews as less cumbersome to manage than if you were white-boarding thrice a week and not performing your best each time. You run the risk of interview burnout when multiple opportunities are spreading you thin. Consider the silver lining and make every interview count with the added focus you can give to each one at present.

      Check out our interview prep partners for some extra guidance. 

      5. Follow up with companies

      The nature of recruitment can be fairly volatile right now, with a host of factors causing delays in companies getting back to you. You may have to adopt a more proactive approach than normal and be the one to steer hiring conversations forward.

      Add your updated availability to each follow-up note and balance your tone to be cooperative versus demanding. For example, “I enjoyed chatting with you last week! I wanted to share a few times I am free to continue our conversation in case you are as keen to assess a mutual fit…” Overall, be genuine, pragmatic, and most importantly, empathetic in your follow-up.

      You might add a note to your calendar to check in every 10 or so days. If a company happens to share a timeline for its next update, stick to that. Be courteous in referencing previous highlights from your conversation and check in to see if scheduling the next steps is feasible. Do not use these notes to sell yourself. Save the humble brag for the next round of interviewing if and when you land it. 

      Instead, focus your notes on relationship building. Connect your reader to what they care about. Perhaps, add a link to an article on a topic of interest to them. Think back to previous chats and recall what they might have shared with you. 

      6. Practice patience

      Finally, remember that every job search, especially in a tough market, is a marathon – not a sprint. It’s natural to experience periods of slower progress. 

      And keep in mind: even the most qualified candidates may have to wait a bit longer to land their perfect role in these market conditions.

      Remember, hiring teams are often spread thin. The layoffs in the last twelve months included a lot of recruiters too. They’re also sharing that they’re getting a ton of applications right now – many of which are from unqualified applicants. Even with tech tools, like applicant tracking systems, it’s a lot to work for lean teams. 

      So, make it easy for them to see what a great match you are and how you’ll bring what they need to be successful.

      If you’re a tech (or sales) candidate on the Hired Marketplace, use the guidance from the Candidate Experience team. It could help you get better matches and more interviews. 

      7. Adjust salary expectations

      Beyond the general job function, do your research to understand how your particular niche and location might impact your earning potential. Software engineers, for example, can earn wildly different salaries depending on their specialty – and this can differ significantly by city.

      In addition, you may need to calibrate your expectations based on the company in question. Startups may offer a lower salary with higher equity, and the company’s funding status might also have an impact. A startup looking to raise funding, for example, might be willing to negotiate a post-funding round raise.

      Related: Try Hired’s salary calculator

      While you want to ensure the salary you deserve, it’s important to align your expectations with the state of the market too. This is where doing that research and being realistic about the state of the economy comes into play. 

      If you do lower your salary expectations, there are still plenty of benefits to negotiate as part of your total compensation. See our Salary Negotiation Guide, created in partnership with Educative.

      Continue your search with confidence 

      It’s clear the factors we shared here will play crucial roles in continuing to shape the labor market’s direction. While the job market has undoubtedly become more challenging, with the right strategies and resources, you will successfully navigate this change. 

      And speaking of resources, here are some of our popular ones to give you more direction in your search: More

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      in Talent Acquisition

      Want to Ace Behavioral Interviews? A Guide to Prep Jobseekers

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      No matter the role you’re interviewing for, companies want to know that you’re curious, hard-working, and most importantly, a good fit for their team. The behavioral interview is a way to gauge if your past experiences, current interests, and future goals align with the company’s needs. 

      Hired and SheCanCode are here to help you build confidence in this part of the process with our new guide. 

      What is a behavioral interview?

      Behavioral interviews specifically evaluate a candidate’s past behavior to predict their future performance in the prospective role. 

      Expect questions like, “Can you tell me about a time when you faced a conflict while working on a team?” or “Describe a situation when you had to use your leadership skills to resolve an issue.” 

      Get more insights into the kinds of questions to expect in the eBook and this blog.

      Situational versus behavioral interviews 

      Unlike traditional interviews, which focus on hypothetical scenarios or inquiries about qualifications and skills, behavioral interviews dig deep into your past experiences. 

      In a situational interview, you might be asked, “What would you do if you were given a project with a tight deadline and limited resources?” The goal is to understand how you would handle potential scenarios in the future, rather than analyzing how you’ve handled situations in the past.

      Why behavioral interviews matter

      The primary purpose of a behavioral interview is to assess whether you have the capabilities to excel in the role. These types of interviews are based on the premise that past behavior is the best predictor of future behavior.

      By analyzing your responses, interviewers identify patterns, understand how you approach problems, deal with challenges, or collaborate with teams. They’re not looking for the “correct” answer. Instead, they want to understand how you think, operate, and react in various scenarios.

      Behavioral interviews help employers get to know who’s behind the resume and uncover the skills they know the job requires. They capture insight into your problem-solving skills, adaptability, communication abilities, leadership qualities, and other key characteristics. 

      While your technical skills and qualifications might get your foot in the door, your behavioral competencies often determine whether you’ll fit into the company’s culture and perform well in your role. 

      Behavioral interviews and the hiring process

      Behavioral interviews typically happen during the later stages of the hiring process, often during the second or third round of interviews. Typically, a hiring manager or someone who has a deep understanding of the role and its requirements conducts behavioral interviews in those stages.

      However, the timing of the interviews varies depending on the company and the specific job role. Some organizations may have a behavioral interview right off the bat. In this case, you’d likely be interviewed by the recruiter. 

      Whomever your interviewer may be, they’re seeking a well-rounded perspective on your behavioral traits and potential fit in the company.

      But don’t get too nervous – Hired and SheCanCode are equipping you with everything you need to ace your next behavioral interview!  More

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      in Talent Acquisition

      Tech Candidate Spotlight – Abel Hernandez, Lead Product Manager

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      Let’s start by discussing your educational background!

      I don’t have a “traditional degree.” I went to trade college for Audio Engineering and I have some unfinished semesters at city colleges. What changed my career trajectory was attending General Assembly’s Full Stack Developer Immersive Bootcamp.

      Related: Thinking About a Career Transition? General Assembly’s 4 Immersive Tech Programs to Help You Pivot

      I eventually pivoted into Product Management. While getting real-world experience at tech start-ups, I obtained industry certifications from Scrum Alliance and Product School.

      I’d say the BrightTALK series and being part of the Pivotal Labs practices and culture made the biggest impact on my career. Keeping in touch with my mentors and staying active in the lean UX and agile communities also helped quite a bit.

      What would you like to learn more about?

      Self-care and preventing burnout. I want to learn more about taking better care of myself. Although I’m passionate about tech, it’s important to learn how to unplug and walk barefoot, lay on the grass, and look up at the sky. We spend way too much time in front of screens.

      What led you to pursue a career in tech?

      I was tired of living paycheck to paycheck and lacking a clear career path. Eventually, I learned about outcomes and had the opportunity to leverage technology to impact people’s lives.

      Related: Expert Tips: How to Manage Your Finances While You Job Hunt

      How has your skill set evolved over the course of your career?

      I’m a lot more focused on understanding people’s motivations and pain points. I value problem-solving while leveraging my team’s expertise to help me determine how we can make a powerful impact.

      What did you choose to specialize in?

      Helping people navigate through ambiguity, or problem-solving by prioritizing ruthlessly. In short, I’m focused on being a champion for lean UX and agile methodologies.

      Is your new role different from previous ones and what excites you about it?

      Yes and no. I continue to work in a heavy compliance-driven environment. However, I do get to work with the private sector as opposed to only the public sector. I also have more opportunities to travel outside the US now.

      I’m excited to work with Data Science and Artificial Intelligence in this role! I’m also looking forward to continuing to provide solutions for folks in the military through healthcare tech initiatives.

      What was your job search experience like before you joined Hired?

      It was brutal. There were no standards and I came across too many fake recruiters only seeking to get contact details. There was also a lot of ghosting! 

      Related: 9 Smart Tips for Jobseekers to Identify & Avoid Job Scams in 2023

      What’s your best advice for job seekers registered on the Hired platform? 

      Put in the effort to fill out your profile. Include a recent photo and update your criteria often as potential employers focus on that. Also, make sure you reply ASAP when you get a message. It’s important to show you’re active on Hired.

      Related: Want More Interviews and Better Matches? 5 Key Tips!

      Any general advice you’d like to give other tech professionals?

      I don’t want to sound cliché but don’t give up! Stay up-to-date and consistent in the community. Don’t make excuses as there are so many useful resources out there for tech jobseekers. If you put in time and effort, you will find the opportunity you’re seeking. 

      About Humana

      Humana creates innovative solutions and resources that help people live their healthiest lives on their terms – when and where they need it. Founded in 1961, Humana has 10,000+ employees and is headquartered in Louisville.

      Benefits

      Health/dental/vision/life/disability insurance, 401K plan/matching, paid time off, tuition reimbursement, work from home flexibility, employee discount programs, and more. More

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      in Talent Acquisition

      The Rise of Passive Candidate Recruitment

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      The global talent shortage is a major challenge for businesses of all sizes. In the United States alone, there are currently 11 million open jobs. This means that there are more job openings than people are looking for work.
      One way that businesses are addressing this challenge is by targeting passive candidates. Passive candidates are people who are not actively looking for a new job, but who might be open to a new opportunity if the right one comes along.
      There are several reasons why businesses are targeting passive candidates. First, the pool of passive candidates is much larger than the pool of active candidates. This means that businesses have a better chance of finding the right talent by targeting passive candidates.
      Second, passive candidates are often more experienced and qualified than active candidates. This is because passive candidates are typically already employed and have been successful in their current roles.
      Third, passive candidates are more likely to be a good fit for the company culture. This is because passive candidates are not actively looking for a new job, so they are more likely to be happy with their current situation.
      Atlas World Group’s Approach to Passive Candidate Recruitment
      Atlas World Group is a global logistics company that has been struggling to fill key positions in IT and technology. In order to address this challenge, they have shifted their focus to primarily targeting passive candidates.
      Atlas’s approach to passive candidate recruitment is two-fold. First, they use LinkedIn Recruiter to target passive candidates who have the skills and experience they are looking for. Second, they leverage the social media of their current team members to share job openings with their networks.
      The Benefits of Targeting Passive Candidates
      There are several benefits to targeting passive candidates. First, it allows businesses to reach a wider pool of potential talent. Second, it gives businesses the opportunity to build relationships with passive candidates before they are actively looking for a new job. Third, it allows businesses to target passive candidates who are a good fit for their company culture.

      Start by building a strong employer brand. Passive candidates are more likely to be interested in your company if they have a positive impression of your brand.
      Make it easy for passive candidates to learn about your open positions. Your job postings should be clear and concise, and you should make it easy for candidates to apply online.
      Personalize your outreach. When you reach out to passive candidates, take the time to personalize your message. This will show that you are genuinely interested in their skills and experience.
      Highlight your company culture. Passive candidates are more likely to be interested in a company that has a strong culture. Be sure to highlight your company culture in your outreach materials.
      Offer opportunities for growth. Passive candidates are often looking for opportunities to grow their careers. Be sure to highlight the opportunities for growth that your company offers.

      Conclusion
      The global talent shortage is a major challenge for businesses of all sizes. However, by targeting passive candidates, businesses can increase their chances of finding the right talent. Atlas World Group is a great example of a company that has successfully implemented a passive candidate recruitment strategy. By following Atlas’s example, businesses can overcome the challenges of the global talent shortage and find the right talent to help them achieve their goals.

      To follow Kelly Cruse’s work in employer brand, connect with her on LinkedIn. For help identifying the values and culture you want to create in your company, get in touch.
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      Breaking Through Bias: How to Overcome Tech Discrimination & Get the Job You Want (VIDEO)

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      How can jobseekers advance their careers despite systemic hiring biases in tech?

      Watch this on-demand webinar to hear experts discuss key findings from Hired’s 2023 State of Wage Inequality report and share approaches to help you advocate for yourself in the job market.

      You’ll hear from:

      Co-Founder & Author, Ladies Get Paid, Claire Wasserman

      Assistant Professor, MIT, Nina Roussille

      Diversity, Equity, & Inclusion Consultant, Colorintech, Maria Petnga-Wallace

      Program Manager of RISE, Gusto, Mercedez Bluebyrd

      Vice-Chair, Techqueria, Marco Lopez

      Read an excerpt of the conversation here and scroll down to access the full webinar. 

      What’s the temperature on the leverage candidates currently have in the job market?

      Nina

      I won’t deny what the economic situation is. Specifically, in the tech sector (defined narrowly as the Silicon Valley tech roles) it’s been more dire than it used to be. That being said, I’ll try to be optimistic a little bit for the crowd. There are two things I think are interesting. 

      One of them is very actionable: try to redefine for yourself what a tech role is. There are now opportunities in tech occupations in companies that are not defined as tech firms. Every firm out there, even in the older industries, needs tech workers. Those industries have been way less affected recently than the Silicon Valley firms. Broaden your perspective. Think a little bit more creatively about what a tech role should be. 

      The other one is remote work, which makes it so you don’t need to find a job exactly where you’re located. A lot of these dinosaur industries are more open to remote and flexible workers. My optimistic take is it will require more creativity and a broader search, but there are still opportunities out there.

      Claire

      I read recently that despite all of the layoffs, a lot of these companies actually still have more employees now than they did at the beginning of the pandemic. Take data and statistics with context. 

      Marco

      It is true. Even though there were massive layoffs, a lot of people kept their jobs. We have a certain loss per se of DEI experts in the marketplace but we still need more representation. 

      Maria

      A number of our members have been impacted in terms of mental health and the experiences of belonging. However, a lot of the large tech firms still do have a commitment to engage in networks with potential employees. 

      If it’s not now, it’s certainly with a view of engaging with talent in the near future. There’s still a need for particular skills, especially in AI and machine learning. Within the company I work with in cyber, there’s still a real drive to have, for example, female and underrepresented group representation.

      I encourage everyone to network. Identify the organizations you wish to work with in the near future and engage with people in those tech firms.

      Mercedez

      Of course, we have seen some major shifts in the DEI work in a lot of companies, but I have to double-click on what Maria said. There are still companies very much committed to the work. There has been a shift in availability and what is actually being done on each team to where it can feel very performative. I don’t think we want to ignore that some companies are just doing what needs to be done to hit numbers. 

      But you have leverage in really understanding who you are and what you bring to the table. If you’re a talented person who really understands what you can do for a company, there’s a value add there and that leverage is limitless. 

      What’s really important is understanding what you can do for a business and using that as well as any demographic aspects or DEI work to create value. 

      There are some performative companies out there but if they are at least being performative that’s another notch for you to utilize as a way to get a job. So either way, figure out where you want to be and what you bring to the table and use that. 

      Also, make sure you’re working somewhere where you want to work. Are you just taking a job because you need a job? Some of us are and some of us are looking for the perfect unicorn job. Be aware of what that really is so you’re holding yourself to those parameters and doing something that works for you, whether it’s to pay your bills or because you really want it to be the perfect place.

      What else does the summit cover? 

      Why networking is essential 

      How to ask about a company’s DEI initiatives 

      How to negotiate a fair salary

      Culture fit vs culture add

      And more!  More

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      in Talent Acquisition

      Tech Candidate Spotlight – Albert James, Full Stack Engineer

      by

      Please tell us a bit about your educational background! 

      I have a traditional background with a Bachelor’s in Electronics & Communication Engineering and a Master’s in Computer Science. My first introduction to programming was in high school. In the last few years of high school, I was introduced to C++. We wrote code on paper and later tried compiling it on computers once per week to see how it ran. Writing code primarily on paper was helpful in writing errorless code.

      Related: Code Your Career: Staying Competitive in the Developer Job Market (VIDEO)

      As for my overall tech career, I believe my Master’s degree made the biggest impact. It was the first time I learned a lot about programming and computer science fundamentals. I believe a formal education in computer science is really useful, especially if the coursework involves a lot of project work.

      What would you like to learn more about?

      I would like to learn more about Astrophysics. I’m really passionate about physics, and astronomy was something I loved reading about. Eventually, I plan to enroll in a learning course to get formal training in astrophysics. I might even switch careers someday!

      What led you to pursue a career in tech?

      For me, I think it came down to two aspects: problem-solving and money. Tech and coding are really interesting. You have to constantly learn and the problems you solve are neither mundane nor boring. It also helps that the salary is nice!

      How has your skill set evolved over the course of your career?

      I was primarily an electronics engineer who knew some C++ when I started my first job. Over time, I acquired skills in machine learning, database design, back-end engineering, and Android development. I was also exposed to a wider variety of problems and approaches to solving them. 

      If I could choose a specialty, it would be back-end development. I like the technologies in this area and love learning the nitty gritty of database design.

      Is your new role different from previous ones?

      It is similar to my role at DraftKings. There are commonalities in the responsibilities but the role is in a new industry. The day-to-day work is similar to what I did at DraftKings but it’s a deviation from my tasks at Google.

      I really love back-end development and with this role at Arrowstreet Capital, I have the opportunity to be a part of the company’s foray into the cloud. This offers a plethora of interesting problems and projects while providing plenty of opportunities for personal growth.

      What was your job search experience like before you joined Hired?

      It mostly consisted of messaging people and applying for jobs via LinkedIn. I’d say I have had mixed experiences with LinkedIn. I found it easier to find job opportunities after landing my first role but before that, I never received responses regarding applications.

      What’s your best advice for jobseekers on the Hired platform? 

      Keep your profile up-to-date and stay active on the platform. Don’t be passive in your job search! Take skill assessments and certifications to showcase what you can do and have learned. Keep updating your resume and profile to optimize it and impress prospective employers.

      Related: Want More Interviews and Better Matches? 5 Key Tips!

      Also, use the resources Hired provides as they are really useful in the job search. This helps you during every aspect, from beginning your job search all the way to negotiating an offer.

      Related: Meet Hired’s Candidate Experience Team: Supporting Jobseekers Every Step of the Way

      I had a wonderful time as a jobseeker using the Hired platform. Hired is really thorough and supports you throughout the job search process. It’s a fantastic platform for jobseekers and I encourage other tech professionals to make the most of it!

      Any general advice you’d like to give other tech professionals?

      Keep up with the job market. Update skills and learn new technologies accordingly. Read at least a few technical books per year to brush up on your skill set. Complete a personal project you enjoy even if it’s silly or lacks a use case. It helps in unexpected ways and demonstrates your drive.

      Thanks for sharing, Albert! Land your next tech or sales role on Hired and complete your free profile today!

      About Arrowstreet Capital

      Arrowstreet Capital is a systematic global equity asset manager providing solutions for institutional investors around the world. Founded in 1999, Arrowstreet Capital has 201-500 employees and is headquartered in Boston.

      Tech Stack

      React, Python, C#, AWS, Infrastructure More

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      in Talent Acquisition

      Leaders Share Tips to Build Career Resilience as a Woman in Tech 

      by

      No career journey is complete without some level of uncertainty along the way. Discover tools to support you in times of uncertainty, whether you’re an individual contributor or spearheading a team. 

      In this blog, we share insights from the “Building Career Resilience in Times of Uncertainty” workshop led by: 

      Erica Yamamoto, SVP of Marketing & Partnerships at Hired

      Kelly Griffith, Global Director of Coaching Services at Ezra Coaching

      Use their strategies to thrive amid the unpredictable waves of today’s job market.

      The state of the hiring market

      The recent hiring market has been characterized by uncertainty, volatility, and contradiction. We’ve seen layoff trends fluctuate significantly over the past several years. We’ve learned to brace ourselves for change. Big picture, we’ve faced a potential recession, significant hiring freezes, and layoffs. 

      Related: Recently Laid Off? A Jobseeker’s Guide to Bounce Back Better Than Ever

      Unfortunately, these effects disproportionately impact women. 

      Prior to COVID, average attrition rates at companies were actually higher for men. However, during the pandemic, 1 in 4 women considered leaving the workforce or downshifting their careers. That compares to 1 in 5 men.

      In fact, globally, women lost 64 million jobs in 2020, amounting to a 5% loss. Black and Latina women comprised almost half of COVID workforce losses. For men, that was 3.9%. 

      2022 saw improvements in women’s labor force participation. However, it was still behind participation highs and below rates for men – who have regained all the jobs they lost during the pandemic.

      As of December 2022, women’s labor force participation was at 58.1% compared to 70.4% for men.

      Source: Bureau of Labor Statistics

      The gender wage gap

      Inequality in workforce participation and unemployment also impacts wage equality. Hired’s 2023 State of Wage Inequality report reveals the wage gap – the difference in salary between white males and underrepresented groups – continues to be prevalent in the tech industry. 

      According to the data, Hispanic men, Black men, Hispanic women, and Black women saw widening expectation and wage gaps. These groups earn $0.97, $0.93, $0.92, and $0.90, respectively, for every $1 a white male counterpart earns. 

      Asian women and white women reported improvements in the expectation gap. Data shows increases from $0.97 to $0.99 and $0.94 to $0.95, respectively, for every $1 a white male counterpart earns. This has consequently driven improvements in the wage gap. 

      Further improvements arise from recent salary transparency laws, which show potential to reverse gender wage gaps in tech.

      Related: Read the full 2023 State of Wage Inequality report

      We are making some progress, albeit slowly. The challenge lies in sustaining this progress even as the economy wavers. 

      Prioritizing women’s health 

      The increasing shift to remote work is associated with increases in imposter syndrome. As employees gather more evidence about the quality of their work over time, their confidence grows. 

      However, remote work and isolation from colleagues usually mean less face time and feedback. With less input, employees have less reassurance of their work quality, regardless of their performance level.

      In an effort to champion women in the workplace, many organizations are paying closer attention to how they might support women’s health. This includes supporting employees through menopause. CIPD estimates that 1 million women have already quit their jobs because of menopause. 

      Given that women over 50 represent the fastest-growing employee demographic, organizations have much to gain by enhancing menopause care. After all, this pool of talent is also likely to aspire to leadership roles. This aligns with many companies’ goals to boost female representation at senior levels.

      Related: How AND Digital & Dropbox Boosted Women in Tech Talent Hiring Pipelines

      In terms of health for leaders, stress tends to be an inevitable part of work. Regardless of how much planning you do, there will likely be moments when things do go wrong. In these situations, stress may actually be a good thing. A pounding heart and a flood of adrenaline help you galvanize your team, handling what needs to be done to solve the problem.

      However, long-term stress is associated with a host of difficulties. Chronic stress causes health problems such as anxiety and personality disorders, obesity, eating disorders, and more. 

      To mitigate these risks, consider partnering with a coach or mentor to build personal resilience. This is a great strategy to greatly reduce burnout and boost confidence. 

      Career resilience

      What is career resilience? 

      Resilience is the ability to swiftly rebound from difficulties. As for career resilience, think of it as the ability to adapt to career changes as they occur. This might include: 

      Anticipating risks 

      Feeling comfortable with change 

      Limiting damages during turbulent times

      Regrouping and bouncing back when facing the worst-case scenario

      Related: Insights for tech and sales careers

      Perhaps you are active in your job search or are optimizing in your current role. Actively building career resilience will give you the strength to:

      Endure uncertainty

      Adjust to changes as they arise

      Position yourself for success in future opportunities

      Career resilience also enables you to be an effective leader for teams when they need it most. 

      Building career resilience is an active process. It needs just as much attention as building job-related skills. Make these resilience-building activities a habit – you’ll soon see the impacts in your career.

      Start building career resilience

      As a leader, you often have to absorb other people’s stress, work through difficult situations, and bounce back. You’re expected to be ready to take on the next challenge. 

      That’s not easy. Sixty percent of leaders say they feel “used up” by the end of the day. Twenty-four percent are considering leaving their company because stress levels are so high. 

      The trick here is to develop strategies allowing you to lead your team effectively through difficult situations – without destroying your well-being in the process. 

      Pause to reflect on areas of strengths and areas of continued focus. This is a strategy to self-assess and identify gaps in skills or your network you might want to develop.

      Your personal SWOT analysis 

      SWOT stands for strengths, weaknesses, opportunities, and threats. This model is often used for project management but is an effective tool for reflection too.

      Simply pausing helps us create awareness and new insights. In turn, this enables us to focus on the areas that are most important.

      Here’s the recipe for resilience:

      Be self-aware: Even for senior leaders, having more resilient teams starts with ensuring you’re leading by example regarding reflection and positivity.

      Set reasonable expectations: “Above and beyond” is a great buzzword. However, make sure the goals you set for yourself and your teams are SMART.

      Ask for help: An often-underplayed component of resilience is the ability to understand your limitations and seek help when you need it.

      Get dedicated support: Are you a leader or aspiring to be one? An external viewpoint will help you navigate challenging situations, which can be invaluable to your growth.

      Revisiting this exercise regularly is a great way to pause and take stock of what’s going well – and where you can make adjustments or improvements. 

      This quickly instills an increased feeling of control over what may be a turbulent situation. It ultimately enables you to keep pushing forward.

      Resilient leadership

      A fundamental element of being a good leader is being able to instill confidence in your team. You need to keep the boat steady during times of uncertainty. How might you apply these personal insights to your experience and actions as a leader? Let us introduce you to The Change Curve.

      Applying The LHH Change Curve

      Research and experience tell us that people have a common transitional process they go through in times of change. People gradually accept the details of a new situation and the changes that come with it. 

      The five-stage LHH Change Curve Model is applicable to both positive and negative change.

      Food for thought: 

      Consider an example in which you’ve been through this curve (either as a leader or team member).

      Considering your personal SWOT, how can you leverage your strengths to support your team through change?

      What areas might you focus on developing to support your team even more?

      Having seen the change curve model, is there anything you’d add into your SWOT?

      Related: 10 Books to Add to Your List for Insights in Leadership and Management

      Moving forward (with resilience)

      The world has experienced some major shakeups over the past few years. Along the way, each of us felt anxiety and stress at levels we had not felt before. Everyone at some point has had to demonstrate some level of resilience.

      Building resilience is an essential habit to grow in your career and maintain your well-being along the way. It’s also a critical priority for businesses. They need leaders who can inspire a workforce and keep people focused, confident, and productive in times of uncertainty. 

      Give yourself space to habitually self-reflect on what brought you to where you are now and where you still have to go. This regular practice creates a map to follow amid turbulent times. It keeps you on the path to success in your career. More

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      in Talent Acquisition

      Getting Ahead in the War for Talent

      by

      Navigating a world in the throes of rapid change as we are in today is a challenging feat. The war in Ukraine, energy price spikes, higher borrowing rates, and chronic inflation affect consumer and business confidence domestically and internationally. The impact on organisations – employers and employees alike – is enormous, and we must adapt to survive.
      Recruiters have long grappled with the ever-shifting tides of uncertainty as the employment sector often resembles a wild rollercoaster ride. From the disruptive onslaught of the COVID-19 pandemic to the subsequent post-pandemic boom, the rise of the ‘Great Resignation,’ and the rapid advancement of artificial intelligence, recruiters have weathered these storms with varying degrees of confidence.
      The UK recruitment sector is optimistic
      Against this backdrop, including concerns about a possible recession, a recent survey of 2,500 industry professionals by independent research firm Dynata on behalf of recruitment firm Monster shows that UK recruiters are optimistic about the future, with 87% looking to hire in 2023.
      Also, on the positive side, 92% of recruiters are confident (45%) or very confident (47%) of finding the right candidate. This sounds high, but UK recruiters are less confident than their compatriots across Europe or the USA. Why is this? It’s because The UK is facing a unique set of circumstances, including Brexit, that have created significant economic uncertainty.
      Nevertheless, recruiters across all sectors still believe that they can scope out the terrain of roles, define them with precision and assess candidates through the interview process, according to our survey. However, addressing the talent shortage is still the number one task facing industry professionals across the UK, Europe and the USA, and a constant challenge persists: the need to identify, interview and secure candidates faster than the competition.
      UK recruiters struggle to access talent as the skills gap widens
      The same survey highlights how amidst this battle for talent, 51% of UK recruiters claim that finding candidates with the necessary skills is the most significant challenge they will face in the next three years. The report reveals that finding candidates with the right skills is the biggest obstacle to recruiting in 2023, with 29% of recruiters indicating that the skills gap has widened compared to a year ago. 86% of recruiters “sometimes” or “very often” struggle to fill vacancies due to this. Of the 87% of recruiters looking to fill vacancies, 44% are replacing or backfilling roles, while 43% are hiring for net new job requirements. Only 13% of recruiters anticipate hiring freezes.
      The UK’s battle for talent is intensifying
      Across all sectors, accessing quality candidates is getting harder and is especially difficult in automotive (57%), leisure & hospitality (46%), education (45%), and insurance (45%) sectors. The survey also found that recruiters are searching for radically different soft skills from candidates from different generations. For instance, 13% of Gen Z recruiters are searching for dependability, compared to 57% of Boomers. In contrast, 40% of Gen Z recruiters seek managerial skills, compared to 17% of Boomers.
      To survive in 2023, recruiters must develop new strategies for success
      To thrive in this challenging environment, recruiters must forge new strategies for success. The reliance on traditional approaches is no longer sufficient; embracing innovative technologies and solutions becomes imperative to match talent with opportunities effectively. Casting a wider (digital) net offers recruiters many opportunities to engage with potential applicants.
      The battle for benefits
      To help them secure top talent, recruiters may need to engage in a “battle for benefits” to attract the top talent.
      The demand for flexibility takes centre stage in 2023, with 53% of candidates expecting more flexibility in where they work and 39% expecting more flexibility when they work. However, the survey reveals a disheartening reality: only 25% of businesses offer genuine flexibility to new hires.
      To succeed, recruiters must balance the demands of employees and employers and address candidates’ extended benefits wish list. As flexible options, including increasingly a four-day week, become standard in many industries; salary is no longer the primary determining factor.
      The top five benefits employees are seeking in 2023 are remote flexibility (50%); flexible work schedules (49%); skills training/learning and development (45%); salary protection/fair compensation (44%); and healthcare benefits (41%) according to the survey.
      Improving search techniques
      In addition to honing the quality and range of benefits they offer, firms need to improve their candidate search techniques. Our survey found that only 24% of UK recruiters leverage online recruitment sites, tools, and new technologies to engage talent – far lower than recruiters in the USA and Europe – and are less confident of finding suitable candidates. This means that 76% of recruiters should improve their search methods or face being left behind in the battle for top talent.
      Matching your benefits offerings to your candidate’s requirements and improving search techniques will go a long way to helping businesses find and recruit the individuals that will ensure the business survives and prospers in a challenging economic environment.
      By Rod McMillan, Marketing Manager, Monster UK.
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