RECESSION 2022

Leaders accelerated tech dependence, while Losers stalled

Everyone understands how important technical talent is and how it’s never going to fully diminish. The strength of your technical talent bench is what ultimately creates transformative impact — in the products and services you offer and in the market itself.

"Winners who continued building tech during downturn"

  •  Netflix – Thanks to its “digital distribution service,” Netflix grew revenue by over $4 billion from 2008 to 2009 and became one of the largest streaming services in the world.
  • Starbucks – Went from a 28% drop in profits at the start of 2008 to the world’s largest coffee retailer with a 40% market share by pivoting from expansion to building personalized customer relationships and embracing newer technologies like mobile apps.
  • Apple – In June 2007, Apple launched something called an “iPhone.” A few months later, the recession hit, yet they set a revenue record at the end of 2008 during a time when everyone was spending less.
  • Dominos – At the height of the Great Recession, Dominos announced it was increasing spending by millions on research and marketing over its new pizza recipe. During that time, it also became one of the first companies to take online orders. After the recession, Domino’s stock rose by 5000%

Where do leaders stand in this situation?

Our promise

HOW CAN WE HELP YOU DURING THIS DOWNTURN​

Becoming future-ready

If you treat your IT workforce as silos you will likely cut costs via staff reductions. However, if you treat your IT a profit generator, you must look to technology to help drive efficiency, cut costs or even invest in future opportunities to leverage during the downturn.

be future ready
Cloud Skills Candidate Report

Becoming a rubber band

Moving your IT systems to cloud allows you to expand and contract like a rubber band. You can expand when demand requires it, and when not, you can contract to reduce your spending. However, cloud transformation requires right skill set. Moreover, accurate skill assessments to build a right team.
 

Closing immediate hiring needs

If you have any urgent open positions, pick from our home-grown talent pool of 4Mn techies. Assess their skills, interview and close the position. We will work with you as a partner.

Conducting a skills gap analysis

skills gap analysis identifies skills that your workforce does not necessarily have but needs. By analyzing skills gaps, you can guide hiring priorities, create training opportunities, and prioritise skills that your business needs the most.

Automating hiring as much as possible

When the economy is struggling, you may have more demand for open positions than usual. Recruitment can quickly become overwhelming for your recruiters. Add automation to your hiring process to prepare for this. 

WeCP is an automated skill assessment tool that enables recruiters to identify the most qualified candidates fast. Our algorithm ranks candidates based on current skills, future potential, and productivity.

hiring planning

Reducing costs by hiring remotely

Businesses may believe they cannot hire during a recession because they lack the resources. The good news is that you can now hire remotely. The cost of hiring remote workers is often lower, they are more affordable, and they are able to bring a variety of skills to the table. 

Using our remote interviewing software, for instance, can help you engage potential candidates and get a sense of their personalities. For new hires to get up to speed faster, we recommend conducting a remote reference check and providing remote onboarding resources. 

Being skill first, and pedigree later

The purpose of our skill tests is always to help you become skilled first. A person who proves their skills shall be hired, and one who fails to do so will not be.

In addition to skills, understanding a candidate’s future potential is crucial. Through deep analytics on skills, we help you understand the future potential of the candidates.

Become a winner of the downturn!