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After the Great Resignation, Tech Firms Are Getting Desperate

Faced with a shortage of qualified workers and fierce competition, companies are offering candidates money to interview and plush perks if they stay

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JOY NAZZARI, THE founder of British proptech startup Showhere, is desperately trying to hire 16 people—a combination of senior-level developers, project managers, and designers. But her pool of candidates is running dry.

“It’s never been harder or more expensive to hire new people,” she says. “Yet you also have to defend who you already have, because they’re seeing the bright lights—being hit up on LinkedIn and hearing stories of friends attracted by big salary packages.”

Nazzari is among the employers who have found it difficult to replace the wave of workers who quit in The Great Resignation, which began last year and hasn’t let up since. In the US, the number of workers quitting has now exceeded pre-pandemic highs for eight straight months, according to consumer data company Statista.

It’s a similar story in the UK. Sanjay Raja, chief UK economist at Deutsche Bank, published a report in January that found that people are resigning at the highest rate since 2009. Huge numbers are leaving the labor market entirely and more than 80 percent do not want a job—the highest on record since 1993, according to Raja’s analysis. This has left gaping holes in the workforce.

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