That tumultuous time was the catalyst for many tech startups to become innovative and create products that support the continuity of businesses due to the restrictions that popped up, limiting in person transactions and interactions.
With the increased demand for on-demand services in the comfort of our own homes, tech companies saw a dramatic upsurge in hiring. And with millions of people transitioning to a do-it-all-from-home routine, the tech industry started to fill the gaps.
Read on to learn more about the growth of tech startups in the wake of the pandemic, some of the bumps these companies have endured, and why you should consider working for a tech startup.
The Surprising Influx of Layoff As We Recovered From The Pandemic
Although there was great excitement about major investors coming to the plate to throw down big numbers in support of the remote/pandemic shift, there have also been a number of major layoffs in the industry that scared a lot of people away from turning to tech and tech startups for employment.
You may recall seeing the antithesis of startups like Peloton, Carvana, and even Netflix, in recent news, performing major layoffs or announcing hiring freezes, as we made our way out of the nucleus of the pandemic. And it felt like, to many, if these organizations were making these mistakes and having to lay off employees, how could startups survive?
But that’s not necessarily the case, especially since many of the startups were born and bred from the pain points that the pandemic uncovered for us. Some major mistake these companies made (whilst possibly cutting corners as they scaled so quickly) was to anticipate what the future held for them when:
- We began rolling out vaccines, gaining herd immunity, and reopening the world.
- They may not have considered sustainability as a major part of their plan when demand shifted from extreme, during the pandemic, to what it is now – remote, to hybrid, to in person, and the preferences of their target markets and audiences since the introduction of remote and hybrid work.
- They considered what their sustained capital may be during tumultuous times.
Today, and for the foreseeable future, tech startups are still able to thrive. It’s simply about ensuring they have a cash runway to secure a profitable future. However, it’s important to consider that technology is one industry that is always progressing, regardless of the current market. And therefore, is a fairly safe bet when considering it a fruitful place to seek out potential job opportunities.
Tech is Still a Hot Industry
While the amplification of layoffs in the startup space, through news articles, has made things feel a bit “doom and gloom”, the tech startup industry is red hot. As we mentioned before, technology is forever progressing each day, and while companies may not be hiring as many positions as they were to fill the demands of the pandemic, they’re still looking to scale. And that means hiring people to help them do so.
Here’s what we know about the tech industry as it stands:
- Tech industry employment has increased by 144,000 jobs just this year.
- 60% of firms are looking to add jobs this year.
- When larger corporations announce layoffs, other, smaller employers take advantage by adding tech talent opportunities to their roster.
Remember, the cup runneth way, way over in 2021. And as we all know, those were unprecedented times. It’s hard to predict when we might have another world-altering event that impacts nearly every aspect of our lives, creates a major boom for tech, and launches new products and services to adapt to our new way of living.
The Good Stuff: Why you Should Consider Working for a (Tech) Startup
If you thrive in an instant gratification type of setting, you might be interested in working at a tech startup company. While these companies usually consist of small, unique teams of skilled individuals, it is normally a fast-paced environment that is solution-driven to reach goals quickly.
So, you’ll be able to learn a lot, fast, and not have to cut through a lot of red tape (if any) to drive your visions to completion, test what’s working, what’s not, and adjust as needed. And that makes the work very exciting, because there’s a real sense of ownership in what you accomplish.
You’ll need to be prepared to trip, fall, and get up - a few times. That’s what makes the startup space so fun. Each time you’ll bring new experience, learning, and innovation to a new strategy as your very own consolation prize. At a startup, you’re bringing agility, creative thinking, and new ideas to the table each and every time you take a seat.
Here are some of the other top reasons to join a tech startup:
- Fast-paced, exciting environment
- Experience-based learning
- Innovation and autonomy
- Creativity and mission-led
- Feeling of belonging, forget hierarchy. Everyone has an equal say
If you’re excited to be a part of a small team and see the fruits of your labor come to life, tech startups are a perfect environment to do so. You may uncover an even deeper passion or spirit of entrepreneurship than you could have ever imagined, kicking it with a small team of like-minded people. And the market is not so bad at all, it’s booming.
If you’d like to keep the conversation going, reach out to us at info@gokatch.com! You can also explore our job opportunities here.
