According to a June survey by Blind, only 9 per cent of tech workers have confidence in their job security, a huge drop from the 80 per cent of tech workers who were confident in the job market and looking for a new job in March.
At the time of the June 20-21 Blind survey, the companies with the highest proportion of affected workers were Compass, where 95 per cent had less confidence in their job security than a year ago, Twitter (91 per cent), Robinhood (90 per cent), Instacart (90 per cent), and Coinbase (83 per cent).
According to Crunchbase data, more than 32,000 people were laid off from the U.S. tech sector in 2022, and while there is a lack of confidence in the job market, there is an equally high demand for tech workers.
According to Rick Chen, Blind’s head of public relations, they may not have as much bargaining power as they did in early 2022, but tech workers are still well positioned to look for a new job when they are laid off.
Workers considering a move are advised to take time to think about what they want most from their careers. They are also advised to ask more questions to gauge a prospective company’s stability.
“Be wary of descriptions like ‘hyper-growth’ in the job description and dig deeper. Learn more about the steps they are doing to support employee retention or how they are growing responsibly,” says Ginny Cheng, a coach with Career Contessa.
The sources for this piece include an article in CNBC.