Tech workers are being laid off in staggering numbers and many are successfully negotiating their exit terms.
As the tech industry continues to whittle down its numbers by reducing its tech workforce, laid-off workers are asking for more additional benefits in their severance package.
There’s a saying in business – everything is negotiable. And now this ideology is spreading to an unlikely group, tech workers.
Most individuals in the tech industry chose their career path due in part to their inherent interest in technology.
It makes sense.
If you like working with technology, why not work in technology. But it’s widely known that many workers in the tech industry are not savvy business entrepreneurs, slick table-top negotiators nor can effectively leverage their skillset for additional gain.
Until recently that is.
More and more tech workers are seeking added severance package benefits either in addition to the standard package or in lieu of it. Many are even seeking the help of professionals, even attorneys, to negotiate the terms of their departure benefits.
The Pandemic Rise
During the early days of the pandemic, countless corporations and mega-businesses went on a desperate hunt to pick up and hire tech workers as their mode of survival to keep up with the demand of the changing workspace.
As the nation buckled down and organizations found ways to work remotely, the tech industry boomed during this fight to keep pace.
But now that the pandemic has been deemed “officially over”, many organizations have been adjusting for it and now have less of a need for tech workers.
Most businesses lay off because of cost savings. But the current wave of downsizing has mostly been attributed to the lack of need for tech workers.
According to CompTIA, an information-technology trade group, technology jobs within the economy have gone down by 32,000 in January of this year.
The Severance Negotiation
Prior to the increase in layoffs, tech workers were routinely sought after and had little to no trouble finding employment. In fact, most tech workers had the luxury of leaving one tech company for another for either more money, better benefits or often both.
The tech industry workers have grown accustomed to having control.
But now the shoe is on the other foot and tech companies are laying off instead of searching for staff.
This puts tech workers in a precarious position. But the tech industry workers have built such an expectation for getting what they want – this dynamic has now transformed into negotiating outgoing terms.
You may be wondering what leverage a tech worker may have over their employer. Not much, but enough to be effective.
Many employers understand that former employees could take to social media sites like Twitter and Linked In to voice their displeasure over the way they were asked to leave the organization.
One unhappy employee doesn’t have much leverage, but an entire workers’ industry in a similar position is of concern to these companies. They would rather avoid bad press and reduced morale among the remaining staff that they are more willing to negotiate the severance package.
Not All About Money
This hasn’t been a war between outgoing employees and employers. It simply changed the landscape of what a severance package could look like.
Former employees have asked for things of more intrinsic value and less monetary.
For example, one employee asked for his employee profile to remain on the company’s website for three additional months to help in the job search. The company agreed and kept him on the books but put him on unpaid leave for that time.
Another asked to keep the company laptop and computer as part of the package, they agreed.
An older employee negotiated a deal because he was only months away from being eligible for Medicare.
One of the more popular options for employers is to offer big incentives to employees to have them agree to “relinquish all future right to sue for claims both known and unknown.”
Cybersecurity – It’s Here to Stay
An industry within the tech sector that is not doomed to lay-offs is cybersecurity. The demand for cybersecurity is here for the long term as it is designed and required to keep a human element to cyberspace to protect information, data, intellectual property and much more.
In fact, the space is largely short-handed, and companies are willing to pay handsomely for qualified cybersecurity professionals.
If you’re looking for a cybersecurity training module to learn how to become a cybersecurity professional, Haiku is one of the leading organizations.
We at Haiku offer cybersecurity training to both beginners and advanced users alike – and everything in between. You can start building your resume and experience today.
One of our treasured strategies is that we provide a gaming experience to cybersecurity training. We genuinely understand that today’s generation want to be engaged with the learning experience. Simply sitting at a desk and listening to a teacher lecture is not engaging – and just not fun.
That is why we go through great lengths to create these digital cyberpunk training environments. We want to combine learning and fun because we understand it is possible.
You will be glad you entered the cybersecurity industry because it’s one that will not need a severance package negotiation any time soon – if ever.
Experience cybersecurity training that's not only enjoyable but also unforgettable. Haiku stands at the forefront of cybersecurity upskilling, leveraging video games to immerse you in a flow state for accelerated, enduring learning.