Economic volatility always creates business challenges, but most of today’s challenges can be mitigated with digital transformation. If we do enter a recession, for example, and the current inflationary environment continues, customers will be forced to change their discretionary spending.
This opportunity exists in some form or fashion across every industry. But you can only benefit from it if you have the employees who can implement these technologies. Luckily, tens of thousands of these workers just hit the market.Recently laid off employees aren’t the only source of talent. Companies should also look to poach employees who still have jobs but want to leave tenuous positions at tech companies.
Tech workers in the U.S. who are from countries such as India and China are only allowed to stay in the country on H-1B Visas. If they’re laid off, they must find or they must abandon their visa and leave the country. Many of these workers who haven’t already been dismissed are likely concerned about the prospect.This is also an opportune time for traditional organizations to acquire tech companies and buy assets at fire-sale prices, especially those firms that are struggling to raise funds to sustain operations. Some acquisitions can take the form of acquihires, that is, acquisitions for the sake of hiring talent.
History has shown us time and again that downturns and challenging times create winners among those that capitalize on the opportunities and acquire the right assets, customers, talent, and competencies at the right prices. The recent spate of layoffs represents such a time.
Aren’t all companies tech companies now!
So many tech opportunities in Africa though
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