#27 - What's going on with the tech talent market?
What is the state of today’s tech talent market? Where is the market headed?
In this week’s newsletter, we will dive into some of the recent reports around tech talent addressing the current situation and explore ways to optimize your plans to scale with these trends.
Let’s dig in!
Is the tech hiring market seeing a downfall?
Naukri.com, in its latest report - The Naukri Jobspeak index, reported that tech (IT) hiring has rapidly slowed down significantly since last year.
As per these trends, there has been a 31% decline in new jobs created since June last year.
Additionally, Karthik Mandaville (CEO at Springworks) recently tweeted that he received over 3000 resumes in 48 hours for roles across the spectrum (product, founder’s office, SDE etc.)
Is the market bad? Yes. Is all hope lost? Not really.
For starters, look at the bright side - If you are an up-and-coming organization planning to scale, now is the best time to build a power-packed team of talented folks to grow your organization.
Also, while it’s too early to conclude, we are already seeing some early signs of the chaos settling down.
If you take a closer look at Naukri’s Jobspeak Index, you can already notice an uptick in Machine Learning & Data Engineering roles (which could also be a result of the world becoming more AI-driven).
Not only that, we very recently introduced Lightning by Cutshort for hiring companies and have already onboarded 23 companies hiring for 100+ open positions.
Money, misconduct, and recruitment.
Tata Consultancy Services, India’s largest IT services company was recently hit with major allegations of corruption involved in their recruitment.
As per the reports, an internal team of recruiters favored certain staffing firms and their candidates over others in return for a monetary gain.
While this did lead to TCS losing some really talented folks, the bigger concern here is about the ethics & professionalism of these staffing agencies and the banned employees.
Are staffing agencies bad for your organization?
One incident can’t be used to make such a bold statement, can it now?
While there is not enough data to make a conclusive statement, there’s one thing we can guarantee - Lightning by Cutshort can help solve your hiring woes and you’ll never have to worry about diluting your team.
What is Lightning by Cutshort?
Our brand new offering - Lightning by Cutshort is an agency service only for tech roes that can take you from JDs to offers in just 21 days!
Curious to know more? Head here to for more details and to try it out yourself.
That’s all the updates we have for you this week. See you in the next one with more exciting updates!