Referencing comment to article on cooling of the war for tech talent, and they “why’s” behind it. Here are my observations as to why, and advice to keep it from happening to other companies, tech or otherwise:
So many startups were like many large companies prior to the great recession that started in 2006. They were excited to be doing well and hired with gusto. Unfortunately, they hired based on excitement, not need, which resulted in painful downsizings.
TO MUCH EXCITEMENT, NOT ENOUGH LOGIC
When a startup receives money from investors or a bank, caution should be exercised. The joy of receiving the money is no different than someone receiving a extra sum of money as an individual, and instead of saving it, spend it as quickly as they can. Budgets aren’t watched, how many hours of work the spending represents isn’t considered, and money just slips through their fingers.
LESSONS TO BE LEARNED
We have all done it, but the lessons need to be learned so they aren’t repeated constantly. Use this to your benefit as an individual, family, or company of any size. Your peace of mind will thank you.
#warfortalent #techtalent #tech #startups #globaltech #layoffs #techlayoffs #downsizing