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A time to reflect – COVID-19 and its… Opportunities?

2020 has seen some of the toughest tests for even the most resilient industries in the market. Working from home has been a rollercoaster for many, but there aren’t many other industries better prepared than the technology industry.

At the start of lockdown it felt doom and gloom for many, as redundancies caused a high volume of job seekers to jump into the seemingly endless task of job searching and applications. The applicants to job ratio was massively top heavy, and it became a worrying time for all.

As a recent graduate, I had been in my new role for less than 2 months when the government restrictions begun, and the news was filled with what seemed to be knee-jerk redundancies. It was an anxious time, and it’s easy to fall into the misconception that when you are low on the career ladder, you are expendable. This couldn’t have been further from the truth, especially in a small, well-run business. The Furlough scheme began, which at first seemed like a setback, but as time went on it allowed me to upskill, create personal and professional goals, form a healthy addiction to golf, and I even moved out of my family home for the first time. Not so bad after-all?

When I made my return to work, I found myself to be much more reflective yet determined, partly due to the appreciation of being able to return to my job – unfortunately unlike many others. When looking back at 2020, perhaps we could think about what it allowed us to do, both from a personal and professional perspective, instead of what it stopped us from doing.

Market-wise, in recent months, are there signs of normality and recovery? Here at Marshall Wolfe, like many others, it’s been ‘business as usual’ to an extent. We’re now starting to enter what seems to be, a time of recovery and reflection after what has been some of the most challenging months. In a recent article (cio.com), it was suggested that the ‘worst was behind us’ as the technology industry is driving digital transformation forward. Consequently, the demand for IT professionals is increasing and vacancies in the tech sector within the UK have increased by 36% in the last 2 months, according to Yahoo Finance UK. However, similar to everything so far this year, I am hopeful that this stays consistent and this blog does not age badly.

At Marshall Wolfe, a surge in new permanent work has been at the forefront of recent weeks, with new roles all over East Anglia. Contract work on the other hand, may be a bit late to the party, but it is coming along. One of our main missions since returning has been catching up with old contacts and friends to see how they’re adapting, or just speaking to the local market, and seeing what we can do to help them.

The technology and recruitment industry is recovering, and although there are uncertain times ahead, there seems to be increasing opportunities for businesses and individuals to gain a new dimension of growth and hardiness to take forward into the future.

Don’t hesitate to get in touch: mike@marshallwolfe.co.uk

Sources:

https://www.theguardian.com/world/2020/jul/31/uk-coronavirus-job-losses-the-latest-data-on-redundancies-and-furloughs

https://uk.finance.yahoo.com/news/coronavirus-uk-tech-jobs-it-vacancies-hiring-software-230119311.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAGepqRtf0T9doCPOBEPJwlAWpgtNXvYMJBIlkdnIqVohuJN_exdL9Frrg8TALk8ScqnC-fkgzVCkKnIYvofOfIdjCvNHEw09cfakdrI-Zii4jez5oAu_lyZLy1lxhZogeX87Y_DX-028vxa2uSD6TY3U6gqkgytRwXuKPqBBeyFL

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