Employees' hiring guidebook in the era of lay-offs – The Ken

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Now what?
Globally, thousands of employees have been laid off by hundreds of startups as the economy slows; Indonesia’s tech talent has been impacted as well
However, instead of taking up any job that is available, the country’s tech talent is becoming increasingly picky
A study from Michael Page shows that among those surveyed who were laid off, 40% had been unemployed for more than six months
But can talent afford to be picky? While startups need to demonstrate stability and flexibility to attract talent, the job market doesn’t really favour employees
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It’s a common refrain—any job is better than no job. But with every passing crisis, especially the latest round of layoffs in Indonesia’s tech sector, that’s no longer the case. The country’s tech talent is getting increasingly picky about the jobs they’re willing to accept.
“I was a bit panicked. I was going to be without a stable monthly income. On the other hand, if I apply for jobs and get accepted, but the work comes at the cost of my well-being, I wouldn’t take it,” a former employee at edtech startup Zenius told The Ken. They were among the 200 employees the startup let go in late May. Software-as-a-service (SaaS) startup Lummo too laid off 150 people in July, according to data compiled by layoff tracker layoffs.fyi.
Globally, the latest round of layoffs has affected 61,627 people at 439 startups, according to layoffs.fyi. Another layoff tracker, TrueUp, reported a higher figure—551 layoffs at tech companies with 91,362 people affected. June was the peak month in terms of the number of people impacted. One of the biggest layoffs that month was carried out by India’s Byju’s, which let go of over

2,500 employees 2,500 employees Byju’s lays off over 2500 employees across Whitehat Jr and Toppr India Today Read more . About

13% 13% India Times 13% Of Global Layoffs Since April 2022 Were By Indian Startups, Says Report Read more of the recent global tech layoffs since April 2022 took place at Indian startups.
While layoffs.fyi has reported numbers only for Zenius and Lummo, those in the industry say the number of those laid off is likely to be in the thousands. A talent directory set up by Ecommurz, a meme account that keeps a close eye on tech developments in the country, has amassed over 1,400 names who have been sacked by at least two dozen companies since late May.
If this were any other time, most of those laid off would be scrambling for jobs right about now. However, a study on talent trends in Indonesia for 2022 by recruitment and headhunter agency Michael Page found that people were waiting for the right job at the right company with the right set of values and culture.
Among those surveyed who were laid off, 40% had been without a job for more than six months. The report also found that 68% of respondents were willing to forgo a raise for more happiness, better well-being, and work-life balance—this was consistent across generations, gender, sexual orientations, and industries.
It’s not that people are opting out of work altogether, nor are they rigid about working in startups again.

Based in Bali, Dita writes about Indonesia’s growing digital economy, including how technology is shaping the lives of young Indonesians and impacting traditional industries. She was previously a reporter at The Jakarta Post.
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