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Is it time to invest in talent?

DCA members are, of course, talking about the layoffs – and considering the talent acquisition opportunities they present.  This week Meta (Facebook) announced 11,000 layoffs, piling its colossal reduction in force atop RIFs from other high-tech household names.  CNBC has a running tally of recent layoffs here. 

A lost job is always bad news, but finding a new job has arguably never been easier: the U.S. economy has 10.7 million open jobs.  Which is to say – until recently, finding the right talent has never been harder. 

What to do?

Talent-starved companies suddenly have a major opportunity to hire the right people – just as dark clouds roll in to darken the economic skies.  What to do? 

Questions DCA Members are Asking:

  1. Should we stay committed to picking up key talent – even as we are tightening our belt in other areas?  Or should we suspend some open positions until we know what’s next? 
  2. Should we “trade up” for better-fit talent than we have now?  More bluntly, should we reduce our own staff and then take advantage of a better labor market? 
  3. Should we take the opportunity now to pull our staff back into the office?  
  4. Should we hire in our geographical market, or simply target the best-fit talent wherever they may be?  And if we do the latter, can we still bring our current staff back into the office – since we’re hiring new people who will always be remote? 


Related DCA Resource:

Commerce Code Episode 125: Hey, Where Did Everyone Go? Employee Shortages and Labor Market Economics

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