F I GHT I NG THE G I ANT
By: Ivaylo Guenov Concord Chief Technology Officer GIANT Big Tech is trying to take your people – here’s how to protect your investment. Fighting the
In 1997, McKinsey & Co. coined the phrase “the war for talent” to describe the competitive nature of recruiting top candidates. In the tech industry, it’s a war that’s never won. When you’ve secured a great candidate or invested in an employee’s training, other companies come along to poach them from under you and profit off your effort.
T ech giants are known for accumulating pandemic put a halt to the expansion of their physical office space. Pinterest reportedly paid $90 million to break the lease for their new Silicon Valley offices, where they planned to expand. Other giants like Google and Amazon show no signs of slowing down their brick and mortar expansions. But whether they continue to move into new cities or not, the pandemic has altered the way Big Tech recruits and perceives the accessibility of talent. property in cities worldwide and scouring local companies for their best talent. For some, the The move to remote work over a year ago proved to be more efficient for many companies. Beyond that, many employees opt out of return-to-work scenarios to favor the convenience and work-life balance remote
work provides. The result is a massive expansion of permanent or partially remote employment opportunities. This shift opens the floodgates for tech giants to recruit previously inaccessible talent from around the country and beyond. At a range from 2.4% to 4.6%, tech unemployment is consistently less than half of the overall rate of unemployment in the country, despite increases in job insecurity from the pandemic. Even when tech unemployment is at its highest, there is still a scarcity of talent in the ever-growing industry. Competitive hiring practices are an inevitable part of operating a tech company, but that doesn’t mean you have to surrender your best talent.
20 | Fighting the Giant
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