With Twitter, Meta and Salesforce axing large swathes of their workforces, tech workers will understandably be concerned about whether their jobs are safe from the squeeze of a recession.
But while a number of big tech companies have taken action to slow, freeze or even reverse hiring in pre-emptive efforts to save costs and streamline, the outlook for the tech industry as a whole looks a lot more optimistic – at least, for now.
Job hunters primarily focus on scouring job boards to find their next role. Little do they know, they are missing out on the hidden job market, a treasure trove of jobs that are not posted online. People unfamiliar with the hidden job market feel excluded from a secret stash of exclusive jobs unavailable to the average job seeker.
However, the reality is more mundane. Companies, for a variety of reasons, don’t want to disclose certain job openings. Discreetly replacing a manager, hiring from within, employee referrals and not wanting to publicize the salary ranges make some job listings unavailable to the public.
An emerging trend is occurring within the jobs sector in the U.S. and abroad: More employers are looking to hire workers based on their skills rather than how much experience they have.
About 45% of companies are adopting a “skills first” approach, a strategy that helps reduce bias, and 33% are replacing resumes as a top gauge with other skills-based assessments.
That’s according to a new survey conducted by HireVue, a video interviewing platform that uses AI-driven software to help companies seek equitable hiring.
“Typically, the traditional way to view a potential employee is through a resume and a vita, but that’s quickly changing,” said Dr. Nathan Mondragon, HireVue’s chief industrial-organizational psychologist. “Those two methods can be limiting in terms of determining someone’s potential and skill set.”
A new survey by Stride Health, a platform that connects independent workers to the benefits marketplace, gathered the feedback of over 4,000 independent and gig workers and found that 24% are currently uninsured. Of those, 58% cited prohibitive cost as the reason they opted not to purchase coverage, with 80% saying they believe monthly health insurance would cost more than $100 per family member .
“Coverage is more affordable than ever for Americans, but there’s a huge education gap,” says Noah Lang, Stride Health’s CEO. “Healthcare is expensive, and the average American knows that. People don’t understand the benefits that have been created to help them lower those costs.”
In fact, the survey respondents who reported having purchased insurance paint a much different picture of current options, with 45% reporting $0 in premiums, thanks to tax credits and expanded qualifications obtained through the American Rescue Plan Act (ARPA), the Inflation Reduction Act (IRA), and the Affordable Care Act (ACA). Another 27% paid between $1 and $100 per family member per month, with 72% of those insured reporting spending less than $100 per family member. These numbers speak to the major education gap within this unique workforce — one that employers should work to close.