Just over 4 years ago, with a decade of Agency Tech Recruitment under my belt I decided to jump over the fence and become an Inhouse Recruiter. Lured in by the promise of greater job security, longer term financial stability and the mythical work/life balance I landed on client side optimistic. It was time to breathe, learn and become a more rounded recruiter free from the shackles of the billing league and the dreaded “Bad Month” that loomed over my agency existence. Sure, I would miss the buzz of being a Top Biller, lunch clubs, wild nights with the weekend millionaires but that was fine because now I had stability, a chance to put down some career roots and settle into corporate life. Only stability never came.
In the 4 years I’ve been inhouse I’ve been through 3 company acquisitions, consistent hiring freezes, seen countless redundancies and an ever present feeling that the Talent Function was always only one “Macro Economic factor” away from being surplus to requirements. Far from landing in a corporate oasis of calm I had in fact fallen on an ever moving conveyor belt of restructuring.
These have of course been unprecedented times. The tech recruitment industry, often viewed as the gateway to the digital revolution, grapples with a myriad of challenges that have rendered it increasingly unpredictable and volatile. The global pandemic, the great resignation, the transition to remote working and, the rapid rise of automation has had a monumental impact on the role of tech recruitment.
The future of work and what it means to have a stable job is fundamentally different to even a few years ago. The days of a job for life are no more, particularly in the Tech world. According to a turnover report from LinkedIn, the average lifespan of a tech employee is 1 or 2 years with a turnover rate of 13.2%. If this level of churn was not enough the level of lay offs within the sector have soared over the last couple of years. According to data compiled by Layoffs.fyi, the online tracker keeping tabs on job losses in the technology sector, 1,069 tech companies have laid off an estimated 244,342 staff so far this year, compared to 164,411 layoffs last year.
So as we navigate our way through these choppy waters what does the role of a Talent Acquisition Partner look like going into 2024. Let’s ask our AI overlords:
In the ever-shifting landscape of talent acquisition, the role of the in-house recruiter has undergone a profound transformation. Historically seen as gatekeepers of job applications and interview processes, in-house recruiters today play a multifaceted role that extends far beyond traditional hiring practices. The evolving demands of the digital age, coupled with advancements in technology and a dynamic job market, have reshaped the in-house recruiter's responsibilities, turning them into strategic partners vital to an organization's success.
Thank you ChatGPT, I couldn't have put it better myself, which I guess is the point.
For me the Talent Partner is more essential than ever acting in a multifaceted capacity as the Employer Brand Ambassador, Strategic Talent Advisor, Candidate Experience Advocate, DEIB Champion, among many more. Working as a Talent Partner I’ve had the opportunity to leverage my strengths in emotional intelligence, build excellent business relationships, implement strategic hiring processes, hire at scale in ever changing environments whilst utilizing the latest technology, ensuring that the recruitment process remains efficient, fair, and ultimately, human-centered.
The instability in the tech recruitment industry reflects the rapid pace of technological change and the evolving nature of work in general. Companies consuming one another is part of the game and according to M&A executives 2024 is due to be a bumper year. Stability is then relative. Short to medium term contract work, fractional project work, joining the next big thing will bring with it awesome opportunities and inherent risks. My own journey from agency to internal has shown that learning through change offers so many opportunities to grow and develop both as a Recruiter and as a person.
Adapting to change and showing resilience to whatever the job market throws at you in 2024 is the key to finding stability. As the war on talent continues to rage, there may not be stability, but there will always be lots of opportunity!