Where is the Silver Lining in a Tech Market Correction?
In the technology market today, the term “unicorn” is on the decline, according to an article on Techcrunch. These privately funded businesses that are valued at $1 billion dollars or more, are turning out to be overvalued and making an impact on the market. Many people have spoken about a market correction coming. As recruiters, we capitalize in this type of market. It helps us to partner with strong emerging companies, in the tech sector, by building lasting relationships and confidence.
A market correction is a great opportunity for any company to shine. Unemployment is the lowest it has been in years, making this a candidate’s market. Candidates can pick and choose where they want to go and negotiate their salary and benefits. Since companies are after the same talent, they must differentiate themselves from everyone else. This is where we step in and generate the best experience for both parties involved. We add value by knowing what each candidate and company needs and wants, as well as matching a company’s culture and a candidate’s personality. We then deliver on their requirements.
If there is a market correction in the technology sector this will allow the true tech companies to stand out. It will help get rid of companies that are just hype or vaporware leaving the real technology in its wake. Recently there has been a lot of excitement around artificial intelligence, machine learning, augmented reality, etc. Once the hype has slowed down for these technologies, the companies that deliver real results are the ones that will survive. As recruiters, we love this type of environment! It helps us to bring opportunity and talent together to create longevity for the candidate and company. There is always a silver lining in any market correction and we are here to ensure the future for everyone.
Teare, G., & Glasner, J. (2017, July 12). The State of the Unicorn. Retrieved from: https://techcrunch.com/2017/06/02/the-state-of-the-unicorn/