Tech Layoffs: 5 Steps To Recession Proof Your Tech Career

Tech Layoffs: 5 Steps To Recession Proof Your Tech Career

Tech Layoffs: 5 Steps To Recession Proof Your Tech Career

 

Unfortunately we are seeing more tech layoff’s as companies cut costs ahead of 2023. Meta, Twitter, Stripe, Opendoor, Chime made big layoffs recently adding to earlier announcements by Bytedance, Microsoft, Getir and Peoloton as tracked by layoffstracker.com.

Over the last two years tech talent has been in record demand with layoffs being minimal. But the tide is starting to turn. 

Here is the good news, there is no need to panic. Tech talent now has more options than ever before to stay in work. Here are Gigged.AI’s 5 Steps To Recession Proof Your Tech Career. 

  • Build your brand

Freelance superstar Sophie Miller talks in the First Time Founder podcast about how she built a brand with over 100k+ followers using instagram and Linked In. This developed into a very successful freelance business helping companies build social media campaigns. Building a brand on Linked In is a great way to always generate new opportunities.

  • Learn new tech skills

Updating your tech skills seems like a no-brainer but it is easy to get side-tracked. Learning new development languages and in-demand tech skills is a great way to stay relevant and employed. Learning more about data and blockchain is a good investment. The Data Lab offers free courses in Data for Work and Coursera has some great courses for learning more about Blockchain.

  • Start a side-hustle

If you have a little extra time on your hands then a sidegig can be a great way to earn some extra money. Most freelance work doesn’t have to be completed during the regular 9-5, giving you the ability to complete projects alongside a full time job. Side projects are also a great way to develop new skills, get experience in new sectors and work with cool start ups. The best way to get involved is through freelance platforms, LinkedIn Groups and Freelance Forums 

  • Join a freelance community

Underpinned, Freelance Business Community, Gigged Talent Community, Freelance Heroes. These are just a few examples of some great freelance communities offering various ways to network, improve your freelance lifestyle and develop your career. Communities are a great way to keep yourself involved with the global freelance economy. Communities can also be used to find other freelancers to work with and get advice from, it is also another place to find side gigs.  One thing to note is that some communities do come with a monthly fee for certain services and resources but can be worth it in the long run to invest in your career.

  • Join a growing and funded company

Contrary to what you might have seen in the news, not all VC funding has dried up and those that have secured funding will usually have a runway for at least 18-24 months. Joining a company that has just received significant funding to grow could be a good way to ride out the recession.

TechCrunch highlights climate tech as a hot industry that is hiring and worth considering:

Climate tech has been booming relative to the rest of the market, with startups in the sector raising $5.6 billion in the first half of this year, short of 2021’s crazy hauls but still well ahead of 2020

Tech Layoffs: 5 Steps To Recession Proof Your Tech Career Conclusion:

It clear that this is an uncertain time that we are going through but what is clear is that having a sole revenue stream such as a  9-5 is a risk. However, what is clear is that spending some time to make sure you always have a secondary income stream is a great investment to help Recession Proof Your Tech Career.

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