In 2022, talks of a possible recession and layoffs dominated headlines. But companies are now pivoting by reducing or realigning their workforce as the tech industry readjusts to new technologies (and new opportunities) for growth.

Hottest Tech Sectors to Watch in 2023

1. Cybersecurity is a Safe Bet

The threat of online security breaches and the hacking of personal information continues to influence the tech sector as cybersecurity is expected to grow globally by 14% before 2029 (Fortune Business Insights Pvt. Ltd.).

As many organizations move away from network-centric security towards a multi-cloud strategy, the need for more secure networks is fueling a greater demand for cloud-based data security. And the job market can’t keep up: 43% of organizations globally are struggling to find top talent, leading to an even greater reliance on automation and managed security tools.

2. A Blockchain Boost

Cryptocurrency has traditionally dominated the blockchain space. Due to the mass adoption of Web3.0, experts predict that blockchain will add $6.097 trillion to the global economy by 2030, a big part of which is decentralized finance.

This technology is also infiltrating retail, media, and entertainment. Analysts predict that decentralized finance will become more prominent within traditional banking, financial services, and the insurance sector.

3. Artificial Intelligence (AI) Gets Real

As machine learning and automation become increasingly more integral to service-based industries, AI software sales are booming. According to data compiled by Gartner, the AI software market increased by 21% since 2021, and workers with AI experience—especially in senior or leadership roles—are in high demand.

Many companies are utilizing AI to increase productivity and profits. Some 92% of large companies utilizing AI reported high returns on their AI investments. AI has the power to ease the stress felt by workers by eliminating menial tasks, freeing them up to focus on more thoughtful areas of their jobs.

4. AR/VR Become a Common Source of Connection

While the Metaverse still appears to be a distant reality, augmented reality (AR) and virtual reality (VR) look set to get further ingrained into our everyday lives. This is especially true for remote workers who will rely on AR and VR to help them connect with their teams.

5. Vitals Remain Strong in HealthTech

The HealthcareTech sector saw better overall improvement than most this year. Not surprising considering HealthTech companies proved critical value during the pandemic. This will likely translate into more success in 2023.

Additionally, the current workforce is accustomed to mental health checkups from home, and they expect this perk to continue as companies insist they return to the office. Preventative healthcare was also a highlight, buoyed by innovations that assisted with detecting and managing chronic diseases.

6. Sustainability Tech Maintains Momentum

ClimateTech remains a popular category among young tech talent. Though comparatively less capital flowed into the sector overall last year, median valuation grew 41%. The Inflation Reduction Act pledged $370B to combat climate change which should help the sector remain strong in 2023.

Globally, people are deeply focused on the environment. Tech companies are responding with environmentally friendly products and processes popular with both consumers and talent.

7. EdTech Teaches Us a New Way To Learn

EducationTech got a significant pandemic bump. That momentum continues in 2023 as educators and families adapt to a generation of children familiar with remote learning. More than 70% of colleges launched new online undergrad programs in the past few years, and nearly 2/3 of teachers in the U.S. use digital tools daily. Industry growth is projected to be $100B by 2025.

The State of The Labor Market

1. It’s Still a Candidate’s Market
   Today, candidates have a myriad of employment suitors. Companies need to be prepared to tempt talent with generous compensation and benefits packages, as well as company culture and personal incentives.
   
   
2. Upskilling/Reskilling Your Existing Workforce
   If you’re not in a position to hire, consider grooming up your existing team. According to a recent survey, 72% of US employees said that they were likely or very likely to stay with their current employer should reskilling/upskilling be offered (Randstad 2022 Employer Brand Research).
   
   
3. Surprisingly, People Still Want to Change Jobs
   Even with recession fears, 40% of US workers said they plan on leaving their job in the coming months (McKinsey’s 2022 Great Attrition Survey). To combat this, ensure you are offering every available advantage to your current workforce, and check in with them periodically to gauge employee satisfaction.

Keeping Talent Happy

The workforce has made their disdain loud and clear. In 2022 unions formed at Amazon, Starbucks, and Apple to empower workers to ask collectively for higher pay, benefits, and better working conditions. Additionally, ‘quiet quitting’ has become the latest workforce trend—where employees put in the bare minimum effort in their place of work due to unmanageable workloads, unclear input from managers, lack of support, or unreasonable expectations.

Monster economist Giacomo Santangelo says, “Companies need to create opportunities for people to feel like they belong, where they feel [empowered to] do their best work and have clear opportunities for career progression.” Employers must prioritize employee mental health and find ways to address these issues. Gutz’s advice: “…create a culture of appreciation for work-life balance with solutions for people who are struggling.”

6 Job Market Industries to Watch in 2023

Given the current economic climate, here are the six industries we expect to boom in 2023:

Technical job interviews are an important part of the hiring process for managers in the technology, computer science, and engineering fields. These interviews include assessments and technical questions that test a candidate’s role-related skills and can be particularly useful when niche tech roles are on the line.

1. Change Your Approach

Many recruiters make hiring decisions based on basic credentials, Ivy League college educations, GPAs, or high-level questions. Niel states that while these are good benchmarks, hiring a candidate involves a much deeper dive into who they are, what they have accomplished, and what they have to offer.

Roseman states recruiters should, “…carefully curate each step in the interview process to elicit detailed information on skill sets, actual accomplishments, cultural fit, and leadership potential.” This encourages candidates to have open dialogue about their job experiences and give the interviewer a better idea of their overall fit.

2. Dig Deeper Than the Resume

When screening resumes, Roseman looks for areas where he can push candidates to expand on existing skill sets. “I always look for how they measure their success, especially if they make comparisons or use percentages like ‘I grew revenue by 50% or I decreased downtime by 30%.’”

Instead of taking things at face value, find out what the applicant did in previous roles. Roseman notes that sometimes when high-level assertions like these appear on resumes, the person hasn’t actually done them or was only a participant and knew very little about the process. Top applicants can always explain and back up their statements, regardless of how deep your inquiries go.

3. Craft Smart Questions

Niel stresses that drafting curated technical interview questions is vital.

Your team should start by evaluating the job description and high-level skills required for the job, then research interview content on platforms like Glassdoor™ and Quora™ for inspiration. You can borrow questions from these sources and customize them to your organization.

Your team can then drill down into what granular questions to ask and what the ideal answers are. Roseman loves questioning engineering applicants on product design, saying “…great engineers should be more than order takers; they should be actively involved in product creation.”

Additionally, design questions that can help you learn how a candidate thinks. Niel suggests drilling applicants on specific previous products they’ve worked on or asking them to create a short portfolio presentation to determine their competency.

4. Assemble Your Hiring Team

Your hiring team helps you determine the quality of the individuals you hire. Every candidate necessitates careful consideration, so leaders must train interviewers and examine their decision-making processes. The feedback given by a hiring team should be concise and conclusive.

It’s vital to keep this statement in mind when training your hiring team:

• Don’t waste your time, the company’s time, and the candidate’s time by not offering detailed feedback. If, after the end of an interview, all you can say is “I kind of liked them, I think they’d be good,” everyone’s time has been wasted.

Generic answers to interview questions lead to ambiguity among team members, so be precise about what you like and don’t like about a prospect.

Here’s a distilled list of hiring rules to consider:

• Scrub the candidate’s résumé beforehand to understand their experience
  
  
• Alleviate everyone’s nerves by starting with proper introductions
  
  
• Have predetermined questions to help your hiring team recognize excellent responses right away
  
  
• Give plenty of time to complete any hands-on assessments (if applicable)
  
  
• Make a high-level inquiry. Examine how people think about the ‘big picture’ especially when it comes to tech projects

Modern recruiters should always take a holistic approach by evaluating a tech candidate’s talent, culture fit, and future growth potential. That said, the technical interview is by far the most efficient way to determine individual skill fit per role. With the 4 guidelines outlined above, you’re on the right track to finding the best fit for your next open tech role.

Whether service-based or product-focused, every new startup strives to achieve Product-Market Fit (or PMF). PMF is defined as the market demand for your product/service demonstrated by people buying it, using it, and telling others about it.

If you’re looking for a new gig, be prepared to roll up those sleeves and do some homework. You might find yourself being more than a little confused by the current economy. Today’s job seekers, particularly those in tech, are in one of the most economically convoluted and confusing marketplaces we’ve seen in recent years.

To date, there are over 11.3 million job openings which, according to ComputerWorld, declares nearly two jobs for every person searching for work—equating to roughly 3.98 million tech industry opportunities alone.

Employee productivity is the lifeblood of any business—without it, a company is destined to fail. And these days, with the remote model holding steady, many employers are wondering what the impact on their business will be. Emerging research sheds further light on some compelling factors concerning workplace vs. remote productivity.

Every worker in any organization shares common habits, concerns, expectations, and inclinations. A recent survey of over 2,400 U.S. professionals revealed five key productivity trends that have manifested since the global shift to a remote work model.

In 2021, the global economy was turned on its ear when tens of millions of workers stood up and declared in one unified voice; “I’m out.” On that day, one of the largest worker migrations in modern history was on; and the SOPs of recruiting, human resource management, and staffing changed forever.

Nowhere was this more evident than in the tech recruiting sector.

Resignations, Great & Small

From Beijing to Boston to Brussels, the impact of the “great resignation” on global markets, companies of every size, supply chains, and countless industries was unmistakable. The largest session of musical chairs for the modern workforce had left tech recruiters scrambling to rehire, backfill, and restaff huge turnovers. Something that occurred seemingly overnight, all to disruptive and potentially devastating effect.

What followed became one of the industry’s most sweeping technological overhauls in recent memory. Recruiters and HR professionals have been stretched thin ever since. To meet the demand of an ever-evolving workforce and the changing paradigms within tech recruiting, the industry accelerated innovation—essentially embracing new tech for tech staffing (something many believe was long overdue).

Today, candidates deliberate longer than ever due to multiple opportunities and legitimate job offers. They want to know they’re choosing their next career move wisely. Meanwhile, employers are scrambling because talent teams lack enough recruiters and staffing resources to fill numerous open positions.ate in the tech recruiting industry.

We are now fully entrenched in the age of workplace flexibility. The term “hybrid work schedule” dominates conversations (and hiring outcomes) between prospects and employers like it never has before. And for organizations looking to remain competitive, enabling and empowering employee autonomy will be the single most important catalyst of workplace flexibility and employee contentment.

New flexibility for a New Kind of Workplace

Workplace flexibility means ensuring workers can connect to the company network and get work done remotely via a mutually agreed upon schedule.

Flexibility is often not the goal for many employers who tend to want to control the workplace narrative. Furthermore, while flexibility is great, what employees appear to really want is autonomy. In this context, autonomy is when workers have the ability to decide how, where, and when they do their work with little to-no company oversight. This is a hot button debate in the tech recruiting industry.

Three Steps to Enabling Autonomy

Let’s see how businesses can empower employees with the necessary autonomy for mutual benefit:

1. Establish Principles, not Policies
   Policy-driven mandates on where and when to work are often rejected by employees based on their inherent disregard to autonomy.
   
   
2. Invest in Competence and Relatedness
   Self-determination is made up of three (3) parts: autonomy, competence, and relatedness. All three are highly intertwined and must all be present for humans to be motivated and fulfilled.
   
   
3. Give Employees the Tools to Work Autonomously
   The tools needed in industrial times brought workers to a physical workplace. Today, the location-specific way of working we still abide by has largely become outdated along with other ideas like the nine-to-five workday.

Technology enables us to work from almost anywhere at any time, a byproduct of changes necessitated by the 2020 pandemic. 71% of the global workforce now sees the physical office space as a social amenity and not mandatory for work. Studies show productivity increased 30% during the quarantine as workers were more effective working from home.