Tech Talent Is Flooding the Job Market

A recent series of mass layoffs in the tech sector, including Amazon and Meta’s dismissal of tens of thousands of workers, has created an incredible opportunity for companies that previously aspired to grow their ranks but couldn’t because of the lack of talent. Traditional firms that previously struggled to modernize business processes now have access to some of the best talent in the world. The same traditional firms, that could never afford to compete with recruiters from jazzy Silicon Valley companies, can now swoop in and offer career lifelines to dismissed tech workers.

We believe that the current layoffs have created a great opportunity for traditional companies. By recruiting and hiring from the former ranks of the world’s leading digital companies, they can gain access to new talent in a less competitive market. This talent can help turn their stagnant business models into digitally agile models, to prepare for increasingly turbulent business…

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This article was written by Vijay Govindarajan and originally published on hbr.org