- Many tech companies, including those in blockchain and crypto, have been impacted by the economic downturn.
- Recruitment firm i-Recruit told Insider what it sees in blockchain and crypto recruitment.
- He shared quarterly crypto and blockchain job board traffic statistics associated with employer inquiries.
Coinbase’s leaked emails revealed in July that it was shutting down its affiliate marketing program in the US, crypto bank Celsius filed for bankruptcy the same month, and the crypto’s market cap plummeted 66% from its peak in fall 2021.
But recruiting experts and engineers told Insider that amid this high-profile turmoil, the job market for crypto-related roles remains mature, and there are still more openings than qualified candidates in the industry. domain.
Large companies like Deloitte, Accenture, Google, and Affirm are currently hiring blockchain engineers, while many startups are also hiring in the space.
i-Recruit, an online recruitment agency, launched its blockchain and cryptocurrency category in 2020, and it shared quarterly job board traffic associated with applications from qualified employers looking to hire people.
A qualified survey is determined based on whether the company is a legally registered entity that currently employs at least five full-time employees, but startups with fewer employees than that also seek to hire blockchain engineers.
Additionally, i-Recruit caters to a variety of industries — not just in the blockchain space — and has quantitatively shown slowing hiring numbers, while crypto-specific recruiting companies previously told Insider. that the demand exceeds the supply of qualified blockchain engineers.
The number of qualified employer inquiries mirrored stock market performance between the third and fourth quarters of 2021 and has since fallen. But in stark contrast to the nose drop, the job board’s unique traffic to the crypto and blockchain categories has skyrocketed over the same period.
Jim Ortega, senior account manager for i-Recruit, told Insider the company hasn’t received any qualified employers in North America since early June. A qualified lead is a request from a legally registered entity that currently employs a minimum of 5 full-time employees.
“This year started strong, but the market saw a sudden shift in February and new leads completely dried up due to the hiring freeze,” Ortega said, noting that i-Recruit only managed to place seven blockchain engineers this year as it placed 52 blockchain engineers throughout 2021, making it well below the pace.
“In March, most of our active job postings were withdrawn at the request of customers and some even began canceling job postings from candidates who were waiting for their start date,” he added.
Ortega said the concern at the start of the year was “candidate supply and quality,” but now the downturn has prompted i-Recruit to shift its resources to other IT teams – a reallocation that, according to him, will not reverse until the course of action. growth returns.
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