Hanover’s Post

Chicago’s tech scene is booming, but did you know it’s facing a serious talent shortage? Despite being the third fastest-growing tech city by salary, demand is outpacing supply, leading to stifled innovation and declining competitiveness as businesses struggle to fill key roles. Curious how you can stay ahead in this talent war? Then read Hanover’s latest insight, which looks at: 1. The hidden opportunities within Chicago’s tech layoffs 2. Why you should be spotlighting Chicago’s benefits in your employer branding 3. The importance of bridging the opportunity gap in Chicago’s tech workforce Read the full insight today and discover how these trends are shaping the future of tech hiring in Chicago and what it means for your business: https://lnkd.in/esaYkgDF

Struggling to attract top tech professionals in Chicago? Well, you’re not alone. Despite being one of the world’s most important recruiting hotspots, The Windy City is facing a talent crunch in its tech sector, joining the 78% of employers experiencing hiring challenges in IT this year. The good news is that Hanover’s latest insight by Cedric Kuakumensah tells you how your business can turn the tide in three simple ways. Here are some key takeaways: 1. Waves of high-value tech talent are leaving their companies this year, some due to layoffs, others due to forced RTO mandates 2. Chicago’s overall cost of living is 35% lower than in San Francisco and 30% lower than in New York, the two other major tech cities 3. Only 14% of Chicago’s tech workforce is made up of people of color. Bridging the opportunity gap is your key to bridging the talent gap Don’t let the talent crunch stunt your growth. Read the full insight today to understand how to attract exceptional talent and keep your business thriving in Chicago: https://lnkd.in/esaYkgDF

Struggling to attract top tech professionals in Chicago? Well, you’re not alone. Despite being one of the world’s most important recruiting hotspots, The Windy City is facing a talent crunch in its tech sector, joining the 78% of employers experiencing hiring challenges in IT this year. The good news is that Hanover’s latest insight by Cedric Kuakumensah tells you how your business can turn the tide in three simple ways. Here are some key takeaways: 1. Waves of high-value tech talent are leaving their companies this year, some due to layoffs, others due to forced RTO mandates 2. Chicago’s overall cost of living is 35% lower than in San Francisco and 30% lower than in New York, the two other major tech cities 3. Only 14% of Chicago’s tech workforce is made up of people of color. Bridging the opportunity gap is your key to bridging the talent gap Don’t let the talent crunch stunt your growth. Read the full insight today to understand how to attract exceptional talent and keep your business thriving in Chicago: https://lnkd.in/esaYkgDF

If organizations needing technology talent thought recent layoffs meant talent would be readily available they were wrong. The competition remains fierce. This article sheds light on this misconception and highlights further insights from BCG on where company leaders should focus to win over tech talent.

All of those LinkedIn posts about layoffs aren't lying, but how deep do the tech layoffs really go? Our CMO sat down with Kevin V. Nguyen at The San Francisco Standard to talk about the current state of tech jobs. #TechHiring #hiringtrends

All of those LinkedIn posts about layoffs aren't lying, but how deep do the tech layoffs really go? Our CMO sat down with Kevin V. Nguyen at The San Francisco Standard to talk about the current state of tech jobs. #TechHiring #hiringtrends

All of those LinkedIn posts about layoffs aren't lying, but how deep do the tech layoffs really go? Amanda Hahn sat down with Kevin V. Nguyen at The San Francisco Standard to talk about the current state of tech jobs. #TechHiring #Recruitment #HireVue #BayArea #HiringFreeze #TechIndustry #Innovation

Rightsizing: Is Your Job Future-Proof? The recent layoffs across giants like Google and Citigroup has brought the term "rightsizing" into sharp focus. This phrase makes it seem like such adjustments are benign, but they have a significant human impact. While many organizations grapple with how to hire, retain, and fire employees, a pattern emerges - a tendency to over-hire during economic booms and resort to layoffs during downturns. The reactive approach, often lacking in long-term workforce planning, leads to instability and turmoil for companies and employees. Rightsizing is not just about reducing costs. It means constantly analysing and investing in skill development to ensure that the right people with the right skills are available when needed. The proactiveness to optimize requires understanding that talent needs are inherently fluid and adapting accordingly. It is about building a flexible workforce that thrives on change, not perpetually teetering between boom and bust. The ongoing layoffs carry quite an evident message: relying solely on reactive measures such as "rightsizing" can leave businesses susceptible to future disruptions. Therefore, they must encourage strategic workforce planning and invest in long-term talent development to build a resilient and adaptable workforce.

Excited to share our latest INSEAD Knowledge article, "Three Lessons from Tech Layoffs on Building Career Agility," co-authored with Winnie Jiang and Claire Harbour. In the face of over 100,000 tech layoffs in the past two years, we delved into how tech professionals navigate these challenging transitions. Here are the key takeaways: 1. Don’t Wait to Diversify: Cultivate side gigs to open new career doors. 2. Slow Down to Find Your Spark: Take time for introspection and deliberate moves. 3. Keep Your Pipeline – and Network – Open: Maintain an open flow of opportunities and connections. These insights, grounded in real experiences, underscore the importance of our 4 E’s framework: Explore, Experiment, Engage, Expand. Embracing this iterative approach can significantly enhance career resilience and agility. Check out the full article for a deeper dive into these strategies and the inspiring stories behind them. Let’s continue to support each other in building fulfilling and adaptive careers. Thank you, Katy Scott and Geraldine Ee, for your invaluable assistance in editing the article. #CareerAgility #TechLayoffs #CareerTransition #4EsFramework #ProfessionalDevelopment

Big tech layoffs in 2022 and 2023 painted a picture of a flooded tech job market. But hold on! Despite the influx of talent, companies are still locked in a fierce competition to snag the best. So, what's the disconnect? Why is attracting and retaining top tech talent such a challenge? The challenge lies in finding the perfect match. Here's why: 👉 Fierce Competition: It's a seller's market for qualified candidates. Attract them with a compelling offer beyond salary! 👉 Growth Mindset Matters: Top talent craves opportunities to learn and grow. 👉 The Skills Gap is Real: The rapid pace of technological change creates a constant need for upskilling. So, how can companies bridge the gap and attract the best? Here are some winning tactics: ✅ Think Outside the Box: Broaden your search beyond traditional recruitment channels. Explore coding bootcamps and diverse talent pools to unearth hidden gems. ✅ Transparency is Key: Build trust and loyalty with clear communication about company culture, goals, and challenges. Open and honest dialogue goes a long way in boosting employee morale and satisfaction. ️ ✅ Prioritize Well-being: The pandemic redefined work-life balance for many. Offer flexible work arrangements, remote work options, and a genuine focus on employee well-being. Bridging the tech talent gap requires a strategic approach. Share your current challenges, and let's explore effective solutions together! #techhiring #worklifebalance #techindustry