The recent layoffs have continued to impact the job market, and tech talent is no exception. According to reports, a large number of tech professionals are now looking for new opportunities in both established and emerging technologies. This influx of available talent has made it easier for employers to select qua lified candidates with the right skill sets while also offering them more options to choose from.

For employers, this presents an opportunity to find tech professionals that are not only trained in the latest technologies but also have a deep understanding of specific business needs and goals. On the other hand, job seekers can benefit by being able to select from a wide range of potential employers and opportunities. The current market is highly competitive, so job seekers need to have a well-crafted resume and portfolio that showcase their experience and skills.

In this article, we'll look into the current job market for tech talent and provide tips to both employers and job seekers on how they can make the most of this influx of available talent.

With the influx of tech talent, employers no longer need to hire more people than necessary. Instead, they should be looking for candidates with a specific set of skills and experience that will help them meet their business needs. In a note to staff members about recent layoffs, Meta CEO Mark Zuckerberg stated: "At the beginning of Covid, the world quickly shifted online, and the explosion of e-commerce led to outsized revenue growth. Many individuals believed that this acceleration would last forever and carry on even after the epidemic. Sadly, things didn't turn out the way we had expected. This means that employers should be more mindful of minimizing costs and hiring only necessary talent.“

Patrick Collison, CEO of Stripe, gave a similar explanation for reducing employees by 14%. He pointed out that when the pandemic started in 2020, there was a sudden shift towards e-commerce worldwide. The growth rates in 2020 and 2021 were much higher than what was observed before. However, he also noted that these growth rates were unsustainable, and after a certain point, the company had to go back to its original hiring strategy.

The takeaway for employers - it pays to be judicious when it comes to hiring tech talent. It's important to understand exactly what skills are required for each job and then find candidates who possess those skill sets. On the other hand, job seekers should be aware of their own strengths and weaknesses and create a portfolio or resume that showcases them in the best light possible. With this influx of available tech talent, employers have plenty of options, while job seekers can benefit from more opportunities as well. Ultimately, both sides will benefit if they approach the current market with careful consideration.

A Chance for Traditional Businesses to Revitalize

The epidemic caused corporations to change the way they operate. They understood that their business practices needed improvement. For example, remote work requires more than just video meetings from home. Managers can now effectively run an entire bank's currency trading platform from their homes, just like they would from a corporate headquarters.

This is a great opportunity for traditional businesses to reimagine how they function. They should look for ways to adopt remote technologies and other digital solutions to stay competitive in the current market. At the same time, employers also need to recognize that there's an influx of tech talent available who can help them with these efforts. Job seekers should also take advantage of this change by staying updated on emerging trends and learning new skill sets related to digital transformation and automation. This way, they can stand out amongst their peers when applying for jobs and present themselves as a valuable asset to potential employers.

Traditional businesses should concentrate their hiring efforts on candidates who can assist them with the following tasks: implementing a remote workforce, analyzing and improving the customer journey, implementing customer service, gathering and utilizing AI-driven insights to improve sales efficiency, automating employee performance management, enhancing supply chain management, and enhancing human resource planning. Target, Nike, Home Depot, Hasbro, and Best Buy are examples of successful digital transformation narratives. Failures include GE, Ford, and Procter & Gamble. The success or failure of the transformation initiatives in each case hinged on the workforce.

If you work for a traditional company, you should take advantage of the recent layoffs to look for candidates with the following qualifications:

Candidates with expertise in the above-mentioned fields are in high demand right now as they are key to successful transformations. Companies should look for candidates who can handle the complexity of technological changes, integrate different systems and processes, and ensure data security. They should also consider hiring a mix of experienced professionals and freshers to ensure that the team has both theoretical knowledge and practical skills.

Apart from conventional sources such as job portals or hiring recently laid-off employees, companies can also consider

 . With the focus shifting to remote and digital operations, tech companies have had to be agile to stay competitive. Consequently, the top talent in these firms is usually up-to-date with the latest technologies and trends. Leveraging this expertise can provide traditional companies with a much-needed boost of energy when it comes to their digital transformation projects. Therefore, businesses should explore hiring tech professionals from technology giants such as Google, Microsoft, Amazon, Apple, Facebook and several others who are familiar with all aspects of digital transformation.

One way to access this tech talent is through executive search firms, which specialize in placing personnel with the right skills and experience. They can locate the best candidates faster than traditional recruitment methods and ensure that they are well-suited for a particular role or project. Another way is to leverage the platform like 

, which meets the specific needs of businesses looking for tech talent. They provide access to professionals from leading companies who are experts in their respective fields and have the technical know-how needed to drive digital transformations.

Another way of tapping into tech talent is to invest in faltering tech companies or start-ups. Due to the current economic downturn and changing consumer behavior, many organizations are facing financial distress. This presents an opportunity to acquire skilled personnel or even entire teams who can contribute value to businesses in this new digital era. For example, buying a company with established product lines gives access not only to their resources but also to their talented workforce, who have been working on those products for a long time.

Some startups have patents that end up being useful assets for the buyer. Some startups have generated forthcoming brands or innovative company concepts, but they lack the resources needed for a large-scale launch. Now, businesses may buy such priceless assets at a bargain to uncover their worth.

With the rise in tech talent flooding the job market, companies should take advantage of this opportunity to source and leverage their expertise. Whether it is hiring from traditional sources such as job portals, executive search firms or investing in faltering tech companies, there are various ways for businesses to gain access to tech talent that can help them achieve their digital transformation goals.

By understanding the current digital landscape and making strategic investments in tech talent, companies can position themselves for success and remain competitive in the long run. Alternatively, the employees have the chance to take advantage of this opportunity and expand their skills in the digital field, opening doors to new opportunities. This is the perfect time to initiate a fruitful transformation.

Get valuable insight into the shift in the job market caused by layoffs, including how employers can find qualified tech professionals and how tech talent can take advantage of more options for employment.

The ResourceQueue blog's industry insights category provides valuable analysis and commentary on the latest technology trends, industry news, and market developments. Stay informed about the latest innovations and emerging technologies that are shaping the future of software development and technology.

Industry Insights 

Unlocking Opportunities with Tech Talent Flooding the Job Market 

If you are a corporate employee, then, in all probability, you've heard, read, or overheard the word "attrition" more than just once. The internet is full of articles, opinion pieces, and expert panels debating attrition. But what does attrition mean, and how does it impact organizations and employees?


Whether you're a corporate employee, business owner, working professional, or industrialist – understanding the concept of attrition is essential to running any successful organization.

For those of us who are not familiar with the term, attrition can feel like a complex concept.

Simply put, it is the natural decrease in the numbers or size of a workforce due to retirement or resignation. It occurs when an employee leaves voluntarily or involuntarily from their position without being replaced.


Losing employees is an unavoidable, albeit unfortunate, process in all organizations. Regardless of their industry or sector, businesses of any size must determine a baseline range for normal attrition and then track trends within that range to be proactive in hiring and training new team members to replace those leaving.

In this blog post, we'll discuss what attrition is, the different types of attrition, and how to calculate your organization's own employee turnover rate. Knowing these key aspects can help you maintain morale among existing staff while managing personnel costs as you seek out qualified talent replacements where needed.

Attrition is the natural decrease in personnel due to resignations, retirements, and other voluntary or involuntary separations. It's a normal part of any organization's life cycle as roles evolve and different skills are needed to stay competitive. Layoffs, downsizing, and mergers and acquisitions can also cause attrition.

The types of attrition can be classified as voluntary, involuntary, internal, and demographic-specific.

Voluntary attrition happens when an employee voluntarily leaves the organization for another job or to pursue a new career opportunity. It is important to monitor voluntary attrition levels to gain insight into why employees are leaving and take action on how to retain them.

Voluntary attrition occurs when an employee is terminated from the company due to performance issues, reorganization, budget cuts, etc. Companies should strive for minimal involuntary attrition as it indicates that there may be problems with their management practices or operational processes that need to be addressed.

Internal attrition is when employees leave their current position and switch departments within an organization.

Replacement attrition occurs when a position is vacated and filled by a new employee. Companies should monitor their replacement attrition rate as it indicates the level of difficulty in filling open positions or the need for better recruitment processes.

When people of a particular age, gender, or ethnicity start leaving an organization, it is called Demographic-specific attrition.

Such attrition should be a cause of concern for organizations as it indicates a bias or discrimination against a particular community of people.

Total attrition includes all forms of employee turnover, including voluntary and involuntary departures. This type of attrition is often used to measure an organization's overall health and stability, as it can be indicative of a lack of morale or other issues within the company. Companies should track total attrition over time to identify any trends that need to be addressed.

Attrition is an unavoidable part of operating any business. While it cannot always be prevented, companies should have processes in place to monitor different types of attrition and take steps to address any issues that may arise. By doing so, companies can ensure they retain their best employees and create an environment where all employees will thrive.

What Is Attrition Rate & How To Calculate It?

Attrition rate is a measure of employee turnover, indicating the number or percentage of employees who leave an organization within a certain period. Organizations must track attrition rates, as high levels of turnover can be detrimental to productivity and morale. 

To calculate your organization's attrition rate, you must first determine the total number of employees who left the organization during a selected period. Dividing the number of employees that leave by the number of employees at the beginning of that period and multiplying it by 100 will give you the Attrition Rate.

= (Number Of Leaving Employees / Number Of Employees ) x 100

For example, if an organization had 100 employees at the start of the month and 10 left during that month, its attrition rate would be,

If you want to get more specific, you can also calculate the attrition rate within a precise time frame.

You can gauge early attrition that occurs within the first 90 days (probation period) of joining by dividing the number of employees leaving by the total number of new employees that joined your organization and then multiplying them by 100.

Suppose 70 employees joined your organization within the last 90 days, and 14 of them quit before completing probation; then, the early attrition rate would be as follows:

= (Number Of Employees Quitting Before End Of Probation / Total Number Of New Joinees) x 100

Understanding your organization's attrition rate can help you better maintain morale among existing staff by providing targeted support and resources where needed. This could include improved recognition programs, career development opportunities, or flexible work arrangements.

By understanding which positions are most likely to experience turnover, you can be more strategic in allocating your personnel budget when seeking replacements. You can also use this information to plan ahead and forecast costs related to recruitment and potential training investments for new hires

Knowing the reasons behind why employees choose to leave your organization can help you evaluate current practices, policies, and processes—allowing you to take steps toward improving employee satisfaction. This can help reduce attrition rates, allowing you to develop a more stable and productive workforce that is better prepared for long-term growth.

4. Identifying Retention Strategies That Work:

With an understanding of the various types of attrition and their causes, organizations can craft tailored retention strategies that address specific issues. From offering additional benefits or resources within the organization to developing creative incentives like career progression opportunities, identifying these most effective strategies can be invaluable in helping you retain existing staff while attracting qualified new employees.

5. Calculating Your Organization's Turnover Rate:

The formula for calculating employee turnover rate is as follows:

(Number of Separations/Average Number of Employees) x 100 = Employee Turnover Rate

By tracking the number of separations (employees who leave the organization) annually and comparing it to your average number of employees, you can accurately determine your employee turnover rate. This figure will provide key insights into how sustainable your staff retention strategies are and how successful you've been in attracting qualified new employees.

Attrition can be a costly endeavor for companies of all sizes, but understanding the different types and how to calculate your organization's own turnover rate are key steps in managing personnel costs. By taking the time to implement effective strategies that fit within your budget constraints and organizational culture, you'll ultimately be able to create an environment where employees feel valued and engaged — setting up your business for greater success in the long run.

Decoding Attrition: Types Calculation & Importance 

In our blog article "Decoding Attrition: Understanding and Addressing Employee Turnover," we provide insights on the causes and effects of employee attrition and practical tips for reducing turnover in your organization. By identifying the warning signs of attrition, addressing underlying issues, and improving employee satisfaction and engagement, you can retain your top talent and build a more productive and successful team.

Decoding Attrition : Types, Calculation & Importance

Who thought that a single virus could change the lifestyle of every person on this planet? Literally no one! But unfortunately, the COVID-19 has done its job, took the lives of lakhs of people, left many others jobless and homeless, and is now continuing to transform their lives. Right from large scale industries to small scale industries and businesses to corporations, this dreary virus has reformed workforce management.

Although some changes are enforced due to COVID-19, they are serving as a catalyst for reinventing the future of working professionals in making things better. New technologies are introducing new roles which push the employees to upgrade their skills. Plus, employees are also taught a new mindset, values, and behavior to adapt to the changing workforce quickly.


Empathically, the world is responding rapidly to these changes by making WFH a new normal and following many other guidelines. Additionally, several things have changed in workforce management due to COVID-19, which we will look closely at in this post.

Workforce Transformation - A Necessity To Cope-Up During Covid-19:

Workforce Transformation

From digitizing the relationships between sellers and buyers to employers and employees, everything has taken a new turn in the span of just one year. As a result, trends like automation, digitalization, and innovation are now becoming fast-track methods to handle the mess created by COVID-19.


As this pandemic is resetting the major work trends, HR management leaders have started to rethink the workforce, employee management, performance management, and experience strategies. They have been put at a crossroad where companies that take up post-covid opportunities positively will find themselves in a better position to retain their expertise. Plus, they will also attract new resources and projects when the situation normalizes. Contrarily, companies that fail to adapt will be left behind, putting their employees' financial conditions at risk with layoffs and closures.


If you are wondering what changes the workforce management is taking post-COVID-19, then here they are.

A survey by Gartner revealed that 48% of the employees would prefer remote work at least part-time after COVID-19 versus 30% before the pandemic. Thus, it has become necessary for companies to explore critical competencies and think about their employees' experience strategies as most of them prefer remote work after COVID-19. They also have to consider the strategies for performance goal-setting and employee career evaluation while they continue to work remotely.

Lack of face-to-face interaction has made employees feel demotivated and discouraged while working from home during COVID-19. They desperately seek an energetic environment and inspiring events to keep going in these challenging times. Hence, companies are teaching employees to learn a new mindset and are preparing them to deal with this abruptly changing environment.


This workforce change is also combined with the quick adoption of new technologies. It eventually serves as a catalyst for accelerating the creation of new roles and opportunities for the employees. Sometimes, these frequent changes in workforce management during COVID-19 have created an imbalance in resource allocation. But reskilling and upgrading them have helped the companies to push their business from one place to another.

Another workforce change that’s happening during COVID-19 is that companies have increased their employee data collection. With the use of new technologies, they are able to monitor their employees with methods like tracking computer work usage, virtual clocking in and out, monitoring employee emails, and other internal communication. These methods are helping companies to track the productivity, engagement, and well-being of their employees to understand their work experience while they work remotely.

Increased value for trust and transparency:

One thing that COVID-19 has taught all of us is to support and understand each other because everything is uncertain. It has let employers and employees control their work-life balance by allowing them to trust each other with enough transparency at ongoing tasks. Eventually, this has helped employees to work with kindness and contribute an equal share towards their home chores.

They are learning what works at home and what doesn’t. Plus, they are learning to manage their surroundings while holding virtual meetings, which never got so long before. Apart from this, employees are getting closer by being in constant contact with each other in the name of remote work. Regardless of the situation, they are connecting as a community with a purpose that is surely changing the workforce like ever before.

Transformation in leadership competencies:

Leadership and management resources have to take up new challenges to cope up with the changes enforced because of COVID-19. Right from handling large teams virtually to delivering exceptional results, they have been time-tested and proved worthy enough to keep the business going. Along with honing everyone’s digital skills, leadership and management resources need to focus on empathy as disruptions and modifications become a new normal in employees' careers.

Handling a large number of people working remotely, all at once, was surprisingly unpredictable. But with the unfolding events, companies have shown how fast they can adapt to the workforce changes and proved that they could move faster with approaches like agile work models.

It’s a way of working in which companies empower employees to work with maximum flexibility and minimum constraints to improve productivity and performance. Thus, with the interruptions of COVID-19 impacts, businesses realized what is possible and what is impossible outside their traditional work process. All in all, this process has helped companies to adjust the pace and scale of workforce management during COVID-19 and operate their work in a simpler yet faster way.

Once people start returning to work, their physical workplace won’t remain the same as it did before COVID-19. Implementation of temperature checks, sanitation protocols, and social distancing rules will likely be of high priority for the well-being of employees. As people will seek social interaction and engagement after a long time, there will be a shift towards a collaborative workplace.

Before COVID-19, employees preferred working independently in offices. But after a transformation in the workforce, they will now use their physical workspace to meet colleagues, have social gatherings, and brainstorm new ideas. Through this change, they will aspire to create a work environment that promotes creativity, collaboration, and innovation.

Giving attention to team’s connection and engagement:

A team’s engagement	highly determines the success of an organization. To maintain this engagement, companies paid more attention to their employees' way of the connection while they worked from home. Although there are many positive sides of WFH, its negative effects are more detrimental, like loneliness and social isolation. And hence, the managers had the extra task of keeping their teams motivated and productive all the time during this pandemic.

The managers are continuing to organize virtual team building activities to drive team productivity and engagement. These activities could be as simple as hobby-based workshops, celebrating birthdays, or sharing achievements through video conferencing. Some companies even included virtual games to keep their employees engaged in the activities. This workforce change due to COVID-19 has ultimately helped boost teams morale and encouraged them to work better amidst the disruptions.

COVID-19 has already transformed the lookout of workforce management around the world. Yet, even with these changes, the companies and employees thrive well to keep the economy running. The only factor that needs to stay consistent is the flexibility that builds a suitable workplace and aligns with the new normal.

Workforce Changing After COVID-19

In our blog article "How Is the Workforce Changing After COVID-19?," we explore the impact of the pandemic on the workplace and provide insights on the changes that businesses can expect in the post-COVID world. Our article examines the shift towards remote work and its benefits and challenges, the importance of flexibility and adaptability in the new work environment, and the need for businesses to invest in digital technologies and infrastructure. Visit our blog today to learn how to navigate the changes in the post-COVID workforce and build a successful future for your organization.

Industry Insights

3 Articles

Unlocking Opportunities with Tech Talent Flooding the Job Market

Decoding Attrition : Types, Calculation & Importance

How Is Workforce Changing After COVID-19?

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