Last winter, economists and reporters puzzled over the Great Resignation. This winter, though, a new mystery is afoot. How did the job market grow so unexpectedly and dramatically strong this January — especially after precursory tech layoffs across the country?
Early this month, a January jobs report announced an increase of 517,000 new jobs, plunging unemployment to 3.4 percent — a 53-year low. It was a cause for celebration for many. Secretary of Treasury Janet Yellen all but declared 2022’s economic downturn over when she said: “You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.”
As economists and markets percolated over the unexpected surge, only one thing was clear: hiring had more than doubling economists’ expectations. And though uncertainty may hound optimists looking to declare a complete recovery from the challenging circumstances of 2022, the jobs numbers did point to a clear truth: tech companies are hiring. There are jobs to be had in 2023.
This month, Built In Chicago featured seven organizations building out their workforces as they prime themselves for future growth. From healthtech to wealth management to cybersecurity, these companies from the breadth of the tech industry are committing to growth in 2023. Learn how you can join in on their efforts below.
What they do: Provi operates a management solution platform for alcoholic beverage programs that serves clients from every part of the alcohol industry, including bars and restaurants, distributors and brands.
The perks
- A focus on employee mental health, including an employer paid EAP program
- Financial benefits including a 401(k), performance-based bonuses and company equity
- Paid volunteer time, including opportunities to partner with Big Shoulders Chicago on Provi’s days of service
Bringing greater connection to the hybrid workplace: “Authentic connection and consistent informing are the top two challenges of the hybrid model,” SVP of People Erica Golden told Built In last July. “To drive more connection for our existing and new employees, we are holding a multi-day company conference called ProviFest, where we will be having leader training on Britt Andreatta’s neuroscience work, talking through company strategy and holding many other small-group sessions, in addition to other social moments to prompt the deepening of new work relationships.”
What they do: Avaneer Health is a member-based network that offers payers and providers the answers they need to initiate and optimize care for people across their lifetimes.
The perks
- A 401(k) with 6 percent company match, fully vested from day one
- Professional development perks including customized development tracks, learning and development stipends and online course subscriptions
- Healthcare including no-deduction options, dental, vision and mental health benefits
Advancing healthcare solutions: “We’re driven to understand our clients’ most fundamental administrative and clinical problems and build a solution that progresses the industry,” David Schramm, senior product manager, told Built In last July. “Avaneer Health is a tightly-knit team, working to design a solution that’s going to lower administrative costs, create efficiencies and facilitate a better healthcare experience for everyone.”
What they do: Hireology is an HR and recruitment platform that allows companies to attract, hire and manage their people in a single system.
The perks
- Company-wide volunteering opportunities, two days of paid volunteer time and partnerships with non-profit organizations like Re:work and The Urban Alliance
- Wellness benefits including a paid mental health day off each month
- Highly diverse management and an employee-led DEI council
Encouraging wellness in the remote world: “We offer date of hire benefit coverage so new hires can access their health benefits from day one,” People Business Partner Dina Fox told Built In last May. When we started hiring during the pandemic, we quickly realized that new hires felt more comfortable with healthcare coverage that began on their first day, and now our health, dental and vision insurance all kick in on the first day. We also implemented a new wellness platform that makes understanding benefits coverage easier to ensure our remote workers feel just as part of the team as those who choose to come into the office.”
What they do: Northern Trust providers wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals.
The perks
- A DEI framework that has earned accolades from organizations like Human Rights Campaign and Bloomberg
- Professional development benefits including tuition reimbursement, mentorship programs, paid certifications and more
- Health insurance including dental, vision, and mental health benefits
Solving serious problems: In a recent Built In interview, Senior Manager Full Stack Engineering Sunder Rajan described the challenging work the company’s Digital Collaboration Hub is undertaking to to modernize clients’ wealth management experience: “In order to utilize the myriad of benefits — both for the bank and our clients — that come from using the cloud, we have to demonstrate that our client’s data is secure. We must ensure that the technology solutions we build have best-in-class information security controls built in to make sure it is both preventative and detective.”
What they do: Basis Technologies is an enterprise marketing automation software provider and digital media platform that offers programmatic, site-direct, advanced TV, search and social services through a single interface.
The perks
- Generous parental and family medical leave, adoption assistance, childcare benefits and a post-parental leave return to work program
- A mentorship program, continuing education stipend and time allotted for learning
- Company equity opportunities and 401(k) and matching
Encouraging learning throughout one’s career: “Learning and adding value are two of my main motivators, and I learn something new at Basis every day and continue to be given the opportunity to add value,” SVP, Basis Customer Experience Jennifer Schaen, a 15-year veteran at Basis, told Built In last November. “To this day, I am challenged and never feel alone or unsupported. I love Basis, believe in what we are doing and am grateful for all it has afforded me over the years. Being able to build a team and providing them the tools and support to also be successful is incredibly rewarding.”
What they do: CyberCube is a SaaS technology company developing cyber risk analytics and modeling.
The perks
- An FSA Dependent Care plan that allows employees to pay dependent care expenses up to $5,000 with pre-tax dollars
- Health insurance with Deductible covered 100 percent for expenses such as office visit copays, hospital deductibles, prescription copays and other services
- Stock options through the company’s employee profit sharing program
Opportunities to fly: “CyberCube has given me the opportunity to spread my wings and truly demonstrate what I am capable of,” Principal Product Manager John Anderson told Built In last June. “My role has transformed a few times already, enabling me to grow, refine my skill set and truly feel like I’m doing the best work of my career. I started in professional services on the client success team and have grown into the product lead and product manager for one of our core products.”
What they do: Caterpillar is a construction and mining equipment manufacturer. The company’s digital and technology arm, Cat Digital, uses data, technology, advanced analytics and AI capabilities to serve its customers in industry.
The perks
- 401(k) matching and company equity opportunities
- Online course subscriptions, paid industry certifications, tuition reimbursement and time allotted for learning and professional development
- Volunteer activities such as the Chase Corporate Challenge
Transformative solutions at scale: In a recent interview with Built In, Senior Digital Architect Pranita Usgaonker discussed Cat Digital’s massive telematics-device gateway migration.
“Our challenge was to migrate all of our 1.2 million telematics devices to the new gateway — each customer device had to be repointed to the new platform without losing connectivity,” Usgaonker said. “Many teams collaborated to develop and test all aspects of the end-to-end systems and resolve any device software or connectivity issues. We took steps to ensure that our apps received 100 percent of their data, regardless of which gateway the device was talking to.”
