A frequent consequence of any economic downturn is that organizations are forced to reorganize or lay off staff to remain competitive. EdTech companies are not immune to this phenomenon; many instituted staff reductions in early 2020, even though demand for EdTech products and services increased as educational institutions around the world found themselves pivoting to distance learning due to the COVID-19 pandemic.
As demand for e-learning software solutions has continued to grow, many organizations now find themselves grappling with the reality that they need to hire staff again. This shift creates several exciting opportunities for EdTech organizations to leverage strengths and resources to continue growing the business and serving an expanding customer base.
Recognize the Need to Increase Team Size
For EdTech companies in this situation, it can be challenging to know when it’s the right time to look for talent. After all, the last thing you want to do is fill roles only to have to downsize again. The reality is that the EdTech market is booming, with an expected compound annual growth rate of 18.1% between 2020 and 2027. Organizations that find it challenging to meet demand today will likely be unprepared to compete as the projected surge continues.
Recognizing and reacting to the need for more talent will also have a positive impact on existing employees. When organizations are understaffed, employees can struggle to meet clients’ and prospects’ needs. Feeling unsupported, these workers will then be more susceptible to overtures from your competitors who are proactively increasing their ranks. Losing experienced talent could multiply your company’s staffing problem, making it more difficult for you to meet the current and growing demand for your products by school districts and other educational institutions.
Re-Hire Team Members
In many cases, EdTech organizations could attempt to re-hire the very workers they had to let go. If former employees are still available and are relevant to the direction the organization plans to go in the coming months and years, re-hiring them can be beneficial.
Leveraging the skills of your organization’s former EdTech sales, marketing, or product professionals means you’re bringing in workers who will hit the ground running without the need for a significant amount of onboarding, orientation, or training. Former staffers know your company and should understand the ins and outs of your product offerings. The return of key employees may provide a talent boost and a culture boost as the team reunites.
Re-Scope Roles and Reimagine Employee Resources
When you are under pressure to quickly hire more talent, it can be tempting to pull the old position description from a file and use it in your candidate search. However, industry changes or even changes to your products, customer experience, or organizational structure may necessitate updating job descriptions to find candidates who can do the job you need them to do today.
Consider the need for skills and technical knowledge. Today’s EdTech sales professionals must be able to prospect, market, sell, and manage relationships with educators and educational institutions in a largely-digital sales environment – skills that are not the same as those used in face-to-face client interactions. Some roles will be combined, and others become more focused. Taking the time to update your job descriptions will help make the best use of everyone’s time in the hiring process and benefit your company in meaningful ways in the long run.
Re-Brand Your Organization’s Value to Employees
The rapidly-expanding market for EdTech services offers a valuable opportunity for providers to reimagine their employee experience and company culture – from office layout to benefits and everything in between.
Take a critical look at the image your company projects to candidates and employees. How does the benefits package stack up to your competitors’ offerings? Do you offer both “hard” and “soft” skills training? What do current employees love about their roles, and what do they see as areas for improvement? Consider the physical space, technology tools, and flexible hours options. Ask for feedback on employee engagement and take what you learn to heart. Is your work environment relevant to a diverse talent pool? Even small changes may make your company more attractive to prospective employees.
Re-Fuel Your Organization Through the Power of a Skilled EdTech Talent Acquisition Firm
The growing market for EdTech offers providers an opportunity to shine. When your organization recognizes the need to hire and is fully staffed with the right people, it will be positioned to serve an ever-growing customer base.
Using the support of a demonstrated leader in the EdTech talent acquisition space to help source candidates can ensure your candidate search is conducted deliberately while freeing you up to concentrate on serving customers and growing the business.
If your organization needs to hire talented EdTech professionals, The Renaissance Network (TRN) can help. TRN has been assisting organizations to source specialized talent in the education technology space since 1996, working closely with clients to understand and meet their needs.
To learn more about our process and our commitment to excellence, contact TRN today!