Odgers Interim’s head of technology practice, Mr. Paul Wright sheds light on the severity of coronavirus on the recruitment of senior-level professionals in the technology world.
In what seemed like a flash of light, the technology industry witnesses an unprecedented turn of events for senior tech experts and the world’s economy. As evident in the rapid consolidation of communications systems contrary to the seven years’ prediction for remote activities.
What has emerged is the surge of more digital business forums and market outlets like online stores, online deliveries with credits to the fussing of the communications market. Even medical personnel all had a fair share of the hike in service demand while the transport agencies, transport corporations, and hospitality had face-offs with a reduction in services as they align their activities with the government’s directives.
In light of the prevailing realities, senior tech expert’s recruitment experienced a somewhat erratic event which is similar to the current scenario in companies’ operations. The most hit by this volatile occasions is the transformations. Our recent dealings have been with clients withdrawing their initial request for transformation directors. The major culprit in this game has been the startups and the big tech guys. We’ve also had our clients doubting the possibility of accurate financial predictions, no thanks to “virus volatility” and we clearly attribute this to the caution other scale-ups now take in decision making.
This reality has compelled our bigger B2B and B2C clients to hold-off on contracts and channel funds to areas of urgent demand. As expected, the jolt has been heavy on their transformation programs with the influx of cancellations and postponements to new “front-line.” As anyone can guess, it hasn’t been a pleasant impact on the transformation people.
In barely a week into the lockdown, we were bombarded with demands from PE corporations searching for ready professionals in finance, restructuring experts, or CEO with restructuring background. Who were willing to render their expertise on demand in the event of suffering financial distress in their portfolio companies. This certainly yielded immediate response for some restructuring personnel.
The sales sector was not left out in the unusual attention as seen in private equity supported software firms. We had remote working and cyber jobs with records of increased sales as well as unified communications and information safety firms. This duo is reported to have relocated their sales staff and main office staff to the sales outfit for order-taking responsibilities. We have also received tons of request for sales officers that can resume duties immediately in a bid to manage the mammoth orders. In the same vein, we also received requests from software corporations for a sales executive who could resume and takeover the supervision of a model design direction for 220 + person sales team with a flat-line revenue.
At this stage, it wouldn’t be strange to find an overwhelmed HR with a flood of duties up to their hands and many requesting assistance and some also resorting to remote hiring. Smart tech firms are beginning to make concerted plans for a more reliable workforce for the future.
Similarly, the CTO or VP are not exempted from the rush as the scenario has them breaking forth despite the pandemic impact. The last thing the tech firms obviously want to deal with is not being able to meet their demands, as shown in the robustness of the B2B and consumer forums. This as anyone can rightly suggest rest on the shoulders of the CTO as they are extremely overwhelmed at the moment.
The health tech expectedly isn’t spared the rage as we have in our list firms with a need for a coronavirus detection app as well as additional support for their management to help with B2B, CPO, and VP engineering.
For education, the EdTech is active and has been created for online educational activities when the need arises even though we are yet to receive a request for them.
With the wave of the pandemic and the erratic economic situation, recruitment in the technology environment may take a different shade in the next few months. But as normalcy returns, the bloom will be orchestrated from your proactive leadership and business.
