Working in recruiting means I spend a lot of time on LinkedIn. Six months ago, that meant a feed filled with exciting new job announcements. Now, those joyful announcements have been replaced with people sharing that they're the latest victim of layoffs, rescinded offers, or hiring freezes.
It's no surprise that candidates may feel nervous as they consider their next move.
At Zapier, we're committed to taking care of each of our team members. And that starts with ensuring that when we bring someone to Zapier, we're setting them up for success and giving them opportunities for growth.
While many companies are scaling back on hiring, we're actually hiring more. So what's giving us confidence that we can (and should!) continue to grow?
Why Zapier is built to weather a recession
Periods of economic uncertainty can be scary, especially if you're looking for a new role, but in the words of our Chief Marketing Officer, Moody Glasgow, Zapier was "built for a recession."
In addition to being loved by our millions of users, Zapier has been profitable since 2014 and holds zero debt. Our strong financial standing, including over $100M on our balance sheets, means Zapier won't need to raise money in a difficult environment. In fact, outside of our seed round in 2012, we've never had to raise money.
Your next career move is an investment in your future. Classic advice for investors is to invest in companies with low debt, good cash flow, and strong balance sheets—all of which Zapier has in spades. If you approach your next opportunity with the same mindset, Zapier is a good bet.
We also have some historical data to support our confidence. Zapier not only weathered the economic downturn of 2020 successfully—we grew! Why? Whether out of opportunity or necessity, entrepreneurs tend to start new ventures during downturns, and Zapier is a great product to support those new and growing businesses.
During a recession, businesses of all sizes will look to do more with less—including using no-code tools and automation to help them maintain or grow their businesses. Zapier connects with 5,000 apps, so it works no matter which business tools a company relies on. A business could replace its entire tech stack, and Zapier would be the one thing that stays the same.
How we're investing in our company and our teammates
Zapier is consistently investing in our product and our people. For example, we're currently building a Sales team for the first time in our ten-year history to accelerate growth and bring automation to more people and businesses.
We're also thinking about how we can support all of our team members through the next few years. From leveling up our benefits (most recently, adding a partnership with Carrot Fertility to support folks in their family-forming journeys) to helping our team members with career planning (check out our Next Play Program!), we're committed to making sure that once people join Zapier, they're supported to stay and grow here.
We certainly can't predict the future, but we can say that based on everything we know: we're feeling pretty good. We're confident that Zapier is a place where team members can not only ride out an economic downturn, but also grow their careers in the meantime.
P.S. Did I mention? We're hiring!