Wednesday, March 29, 2023

As a leader in pre-hire skill assessment tech, Xobin helps over 700 companies in 35 countries to with online assessment tests for pre-hire screening and training. The company tracks multiple data points to keep a pulse on the shifting trends in recruitment.

The world has been hearing of constant lay-offs in the tech industry worldwide. In 2022, over 1,000 tech firms around the world laid off over 1,54,000 workers. In January 2023 alone over 220 companies have reportedly sacked over 68,000 tech workers. However, the situation is not as bad as it is made out to be, according to a recent worldwide study by Xobin. The study shows that over 575 tech companies worldwide are actively hiring for tech talent. It says the companies that could never compete with FAANG & Big Tech companies on scale and employer brand are now swooping in on the laid-off tech worker.

The study says, US remains the largest geography which has witnessed 32.9% of the global tech hiring, followed by European Union (9.15%), India (8.43%), UK (8.07%) and APAC (6.79%). Of the companies studied, 16.89% are open for remote hiring and 9.58% are remote hiring in US alone.

Over a quarter of the tech hiring were for engineering and software development roles. Software development accounted for 59.4% of all the tech roles. The other domains for tech hiring included Sales (13.42%), Marketing (9.45%), HR (9.09%), Customer Success (7.47%), Finance (6.07%), Ops (4.74%) and Design (3.41%).

“The take-home of the survey is that not everything is as bad in the IT/tech recruitment scenario as projected out there. The skilled tech workers will find ample opportunities to find a new job,” said Guruprakash Sivabalan, CEO, Xobin.  “Many of the recent tech lay-offs are as a result of imitative behaviour. Even if there has been lay-offs by a few big tech companies, there have been big tech companies that have seen no down-sizing in their workforce, with some vowing there will be none in the immediate future,” he said.