Tips for finding a job in a tough market

It’s hard out there for tech sector workers looking for a new role.

There have been a rash of layoffs over the past few years, causing increased competition for available positions. And while the majority of recent job losses took place in late 2022 and 2023, there have been significant layoffs this year as well.

Employers are increasingly seeking out candidates who possess transferable or portable skills.

Food delivery app SkipTheDishes let go of 800 workers in July, while EdTech company Paper laid off its entire Canadian tutor workforce. Digital product startup Sampler also shut its doors, and Toronto-based Cohere shed five percent of its staff this year after announcing a $500-million USD funding round.

A recent report from jobs site Indeed found that job postings also fell below their pre-pandemic level in June, and by July were down four percent from February 2020 levels. This is undoubtedly affecting the confidence of those who are currently unemployed, but there are signs of how job seekers can effectively adapt their approach in the current environment.

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Understanding the current landscape

The Indeed report found that only 37 percent of those who were out of work and actively looking for a job were at least somewhat confident they could find a job within the next month. That’s down from 43 percent the year before, and well below the confidence level of 51 percent that employed job seekers report.

That’s because early-career workers are already at a disadvantage.

Data shows that entry-level jobs are being eroded. An analysis of around four million job postings since late 2017 has found that 35 percent of postings for “entry-level” positions now ask for years of prior relevant work experience, and over 60 percent of listings for entry-level software and IT services jobs asked for three or more years of experience.

While early career workers probably do have some relevant experience in the form of internships or placements garnered during their college years, along with the requisite educational achievements, they don’t yet have that solid on-the-job experience that companies are looking for.

Previously, younger employees entered jobs at a level where they benefited from mentoring from senior team members, received on-the-job training, and learned a lot in the process.

The landscape has changed, making job loss for a Gen Z employee feel a lot different than a redundancy for a Gen X worker who has had the benefit of skills development, as well the benefit of hindsight.

Soft skills = strong results

One solution for those in their early careers who have experienced a job loss, or even, as is common in the tech sector, multiple losses, is to re-evaluate what they are offering. In the absence of a lot of experience across hard technical capabilities, or example, soft skills can go a long way.

Employers are looking for more than core technical, or hard skills, and are increasingly seeking out candidates who possess transferable or portable skills. These are often categorized as soft skills, but are no less important. If you can demonstrate standout skills like communication, organization, attention to detail, leadership, or relationship-building, you’ll set yourself apart from other applicants.

Think of times you led group assignments during your studies, or how you managed a college social event, for example. Demonstrating that you have developed these human skills during college is a great way to signal that you’ll be a truly effective team member in the years to come.

The World Economic Forum (WEF) has given similar advice. In its 2023 Future of Jobs report, the WEF noted that analytical thinking and creative thinking will be among the most in demand skills by 2027, along with leadership, social influence, and curiosity.

AI is today’s top talent currency

And then there’s artificial intelligence, not just the tech world’s latest craze, but also an increasingly important skill for anyone navigating today’s job market. Recent research out of the United Kingdom identified that university graduates who have “AI capital” or business-related AI studies listed on their resumés, are more likely to get a job interview.

One report from Microsoft and LinkedIn predicted that AI skills could soon rival experience in the selection process. This isn’t limited to tech experts—businesses are increasingly seeking non-technical talent who can use generative AI tools like ChatGPT and Copilot.

Having AI expertise can also make you more likely to receive salary offers that are around 13 percent higher than those without it.

If you’ve experienced a layoff and are on the hunt for your next opportunity it could be the perfect time to take advantage of some career-proofing upskilling.

Ready to find your next tech role in Canada? Visit the Betakit Job Board today.