While many tech giants are unfortunately in the phases of downsizing due to various reasons (inflation, interest rates and broader geopolitical tensions), there is a silver lining to all the negative headlines we see daily.
There have been many companies making headlines this week for decreasing headcount. At P&H, we often support Founders and CxOs of small-midsize businesses, many of whom are taking the opportunity to continue their moderate and realistic growth while approaching the amazing talent that is now actively on the job market. Many candidates, whom we would not have been able to get an audience with six months ago (due to the security they felt that their “big brand” provided them with) are now considering new ventures – and it’s not just the people who have actually been affected by downsizing measures; many potential candidates are more than secure in their roles right now, but are savvy enough to know that they should consider their options in the short-term, with a view to long-term survival.
Often, big brands are associated with providing stability, a corporate ladder with opportunities to climb and broader global exposure. While this is true in many circumstances, these factors don’t necessarily manifest in tight market conditions. We find that in uncertain economic times, our small-midsize clients who are appropriately positioned, tend to be the ones who continue shifting the needle. The ability to pivot quickly and be nimble in turbulent times, is what allows growth to continue, and this is far easier for a smaller business to execute on.
From the experience of an employee, being on a first name basis with your entire organization provides an entirely different sense of comfort and coupled with the ability to get broader business exposure and grow much quicker professionally, working with a smaller business makes a lot of sense for anyone who is looking to accelerate their career trajectory. At least, that’s what we’ve been told by the various leaders whom we’ve helped transition out of a conglomerate into a smaller, growth-focussed environment.
At the end of the day, everyone has different needs, and a small-cap organization is certainly not for everyone, but this is an exciting time for more agile organisations and we’re here to help companies and candidates alike find the perfect match!
by Travis Hann
Partner, Pender & Howe
Published on November 6, 2022