If you’re in the tech industry, you’ve probably heard 2 terms nonstop these last couple of months: hiring freeze and layoffs.

The tech industry is going through some changes – nothing new there. The surprise this time has to do with the fact that these changes are different to the ones we were used to: rapid growth and success overnight. We are now seeing the tech industry in a new light and for us to thrive in it now, we need to start thinking about the long game. 

Tech companies are confronted with a new reality and the focus must shift to maximizing what you can actually control.

Shifting your focus might be difficult, as it comes with uncertainty and unknown territories. But if you think about it, a hiring freeze could be a blessing in disguise or at least we like to think the glass is half-full. The list of opportunities is endless, that’s why we compiled 3 key areas you can start with:

• Build and strengthen your relationships in the industry.

• Retainment as a priority.

• Give back to STEM.

Let’s deep-dive, shall we?

Build and strengthen your relationships in the industry

Unfortunately, we really don’t know what will happen tomorrow (if only crystal balls were reliable!). Tech is a fluctuating ecosystem that comes with a few plot twists every now and then. Don’t let it find you unprepared. That’s why nothing should stop you from growing your network and staying in the loop.

Relationships take time and as you build them, you never know what will spark from something as simple as a conversation.

It is a chance to learn more about your market and meet experts. If you’re stuck in knowing where to start, hosting a Meetup and welcoming a tech community is a good start.

Retainment as a priority

Now is the time to protect the health and comfort of your team. You want to make sure that you keep your MVPs happy and in case women are leaving your engineering team– make sure to take it seriously. Understanding the why is the first step which will lead you to what you can do.

Rough patches come and go but ensuring an engaged team must be a priority.

You can also use this time to set internal policies to ensure the well-being of your employees. For example, you can create a diverse Slack code of conduct. If you’re looking for insights and practical advice, then check out our guide on How To Retain Women In Tech according to Sheree Atcheson.

Give back to STEM

As a tech company, you have the responsibility of leading change and setting the tone in the industry. Being aware and acknowledging that you create an impact can help take diversity and inclusion to the next level. The good news is:

Giving back to STEM isn’t as hard as it may sound.

If you’re looking for things you can do to help close the gap in tech, we have a step-by-step guide for you.