While the demand for top tech talent was a common trend in the U.S last month, the shortage of viable tech talent and the ways companies are addressing the issue was an overwhelmingly popular trend this month for the U.K. The demand for tech talent accompanied by the skills shortage has left the industry searching for solutions and competing for top candidates that will help fuel their companies’ growth and success.
According to UK Tech News, a strong company culture and values is the key to circumventing the tech talent battle and attracting top candidates. A study by Digital Nation revealed just how important company culture is to job seekers. For example, 67% of respondents turned down a job offer because of the company’s values. Additionally, 62% think company culture is equally as important as pay when it comes to selecting a job.
The skills shortage when recruiting tech talent has been a struggle in the UK. According to a study by Accenture, the digital skills gap could cost the UK £141 billion in GDP growth over the next ten years. Callum Adamson, CEO at Distributed, explains why certain tactics such as outsourcing and direct hire won’t solve the issue and what companies can do instead such as hiring globally and expanding the candidate pool.
Velocity Global surveyed 500 UK tech companies and the findings were similar to what has been trending for months - the lack of tech talent is resulting in companies expanding globally. Specifically, 42% of British tech companies say their interest in expanding into other regions is fueled by a desire to recruit the best tech candidates. Another factor in the hiring expansion is to help grow companies’ customer base. The benefits to global expansion are evident but with those benefits also comes challenges such as differing payroll processes, conflicting time zones and immigration management.