The privacy calculus, along with broader macroeconomic headwinds, have mowed down the digital media economy’s workforce(s) in recent weeks, with even “Big Tech” players such as Facebook and Google issuing notes of market caution.
The alarming rate of layoffs has resulted in a jobs landscape where tens of thousands of workers now find themselves looking for paid employment, around 25,000 from Amazon, Meta, Microsoft, Snap and Twitter alone.
As further economic challenges lie ahead, there are beacons of hope for those looking to re-establish their footing on the career ladder, although expectations will need to be managed. Sources tell Digiday that a new generation of start-ups could flourish from the current wave of difficulties, with the budding ambitions of new entrants to the advertising market also a potential source of job opportunities. .
However, those expecting to enter a start-up and earn a salary comparable to the levels they pocketed on Facebook or Google will have to readjust their expectations, with multiple sources noting how such candidates may come with baggage.
“These companies were hiring a lot during the pandemic, and there’s a perception that a lot of these people went there to hide,” said Jay Stevens, a veteran executive in the start-up landscape, “I mean we’ve all heard of ‘resigning quietly.’
Separate sources have noted how Big Tech entities impose a system that doesn’t engender a work culture that encourages ingenuity. “I wouldn’t hire a Facebook or Google salesperson,” said a startup CEO who declined to be named.
“Anyone who has spent several years in a system that is not flexible will have to readapt, especially in a role where people don’t come to you and you have to rush just to get a meeting.”
Dan Goldsmith, managing director of 3 Pillars Recruiting, also noted “a perception out there that Big Tech Media salespeople aren’t really selling,” but he later added, “there are people out there who have enormous sophistication and mastery of platforms that will not exist elsewhere.
Although Stevens observes that not everyone who has spent time in the Big Tech sphere lacks the skills needed to start fresh, especially those who got there by way of acquisition. “There are a lot of people I know who have left places like there because they just don’t like bureaucracy,” he added, “I’ve hired people from Google in the past, and although there was a period of readjustment, and they were expensive, they were good and helped us build and get out.
Meanwhile, sources also noted how those entering the job market after Big Tech’s recent round of layoffs could also look to similarly sized players with budding advertising ambitions with Amazon and Apple identified as two prospects. potentials.
Although, separately, sources have noted how candidates entering the job market can I have the most opportunity in the emerging retail media sector, or potentially even joining an “in-house operation” even more than the much-loved CTV landscape.
Goldsmith of 3 Pillars Recruiting added: “I think the companies that can make substantial or smart moves on available talent will be completely non-endemic companies that are in housing, their practice of digital media, it’s quite rare that companies like that hire someone who has worked at Google or Facebook.
He later added, “Then you have retailers looking to create their own media practices, and that’s great, but I think that [any future job recovery] will come from beyond the media.
Meanwhile, Stevens, whose experience spans the social media, programmatic and automated TV landscape, noted how companies looking to transition to the CTV landscape can seek candidates with legacy experience.
“CTV is tough because the talent that’s really needed is the ones that have a traditional knowledge base around television because that’s the budgets they need,” he noted. “If you hear about people being laid off in the traditional television industry, that’s where CTV players will be looking to hire.”
Experts tip in-house operations and retail media as the most fertile landscape for new job market entrants
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