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Market Correction


Inevitably, the frothy, hot, market driving, record-breaking technology investment could only go one way. We have finally found some relief from the painstaking skill crisis, but the effects of the market correction stretch much further than this, and we need to be prepared to weather the storm. At Inspire, we’ll be ensuring our clients benefit from the fluctuations.

For example, crypto companies are rapidly shedding tech staff, making the talent pool available for fintech, finance, and software teams grow at an exciting rate. It is also means that those left standing following the crypto winter will be those still hiring will enjoy rich pickings from the talent pool.

Our clients at major banks are already attracting talent who were previously committed to crypto and start-up culture and packages. It’s worth noting, too, that some crypto clients are actually expanding.

Part one:

Recent history, where the skills shortage in tech had left the employee in a position of unprecedented power is changing. With the onset of market correction and the sobering effect its having on salary offers and demands to work from home, the landscape of the tech industry is once again being driven by money flow.

Are we are returning to the days of the employer calling the shots? Consider the constant change required through this period: downsizing, upsizing, reacting to the political climate, and altering your company’s processes – Inspire can offer all the support needed to navigate you through.

Part two:

Wage inflation has been driven by a huge uptick in retail investors, both in public and crypto. Equally, it was the wall of money from VCs and PE that put salary increase in tech on steroids, but as the wall of investment shrinks, caution regarding tech spending is more important than ever. Developing software solutions in a more savvy way can take three routes:

1.Consulting – consider consulting alternatives such as offshore development and downsizing according to where you are in the SDLC. Offshore development can be upsized and downsized as needed without any financial burden or change in scope of work. The cost of using the big companies for the early stages of projects can be very high (also, with worse delivery) than us, as we can provide support at a fraction of the cost.

2.Project teams (statement of work) – build-operate transfer and flexibility up/downsize… we have a unique model that allows our clients to make key hires, test them and internalise them without having to deal with internal HR teams for hires. We are also speedy to market when there are demands not necessarily within our expertise.

3.Redeployment – we also have a large coverage across the banking and insurance market, making us able to utilise resources across multiple assignments. Clients who wish to downsize can offer consultant alternative roles immediately and provide clients a variety of options when demand is urgent.

4.Software offshore development – this can be much cheaper for technical talents, and changes to the scope of your work will not cause such financial burden. Inspire can help you to build out your teams, providing tech leads and groups of offshore developers to deliver.

Lastly, looking towards your management and training: we help our clients with change development, and ensure that your product does well when taken to market. Our approach will always be tailored to meet your company’s specific needs, supported with behavioural research of consumers and the right communicational match for you.

The effect of the market correction on the Asia Pacific region is vast, but with our help, you will have access to the best collection of specialists to support companies through this change.

To see for yourself how Inspire have supported businesses, look to our case studies below…

1.Virtual Bank Case Study:

This company sought support in technical expertise, and guidance on headcount distribution for their two locations. We successfully supported their goals, whilst bearing in mind a tight budget and the competitiveness of the market.


2.Research augmentation to support digital transformation (Insurance sector):

Insurance group, AIA, were faced with the great task of migrating all digital applications to their infrastructure following a merger. We supported them by embedding the right people for their business, facilitating the development of applications, and coaching employees to make the most of their applications.