If you’re a skilled tech professional looking for a new role, now is the perfect time to make the move.
This is because according to the latest data, the number of job vacancies in the UK has reached a record high. While this has left many employers are struggling to fill skills gaps, it also means that candidates have their pick of the best roles.
The Office for National Statistics (ONS) data for October 2021 found that there were a whopping 1.17 million unfilled job vacancies. This is a huge 400,000 higher than before the Covid-19 pandemic began.
The figures also showed an increase in hiring activity, with over 2.2 million hired into new roles between July and September.
What’s the situation like in tech?
Over in the IT and tech sector, there’s also been a significant rise in job vacancies. Data analysed by job search engine Adzuna for the UK Digital Economy Council and Tech Nation found that the number of advertised roles is around 42% higher than pre-pandemic levels.
During the first half of 2021, hiring activity gathered pace as businesses looked to recover from the worst of the pandemic and set to work on expansion plans. This coincided with a record-breaking amount of funding raised by UK tech startups and scaleups, which reached £13.5 billion by the midpoint of the year.
With over 42,000 tech startups and 10,000 corporate tech businesses, the UK has a formidable tech workforce. Nearly three million people are employed in the sector, which amounts to around 9% of the total UK workforce.
Secretary of State for Digital, Culture, Media and Sport, Nadine Dorries, commented on these latest tech hiring figures:
“It’s been yet another record-breaking year for UK tech – and that means thousands of high-quality jobs for people across the entire country.
“The jobs are there. We’re working tirelessly to make sure people who want to start careers and businesses in tech are supported with the skills they need to fill them, and to thrive.”
Employers need to work harder to attract and retain talent
With so many unfilled vacancies and increasingly urgent staff shortages, employers are facing a challenging period. Many are having to raise salaries and offer temporary bonuses in order to compete in a ‘price war’ with their competitors.
But experts are warning that employers need to think beyond this kind of short-term recruitment strategy. Gerwyn Davies from the Chartered Institute of Professional Development (CIPD) told the BBC that workers are calling the shots in today’s “job-seeker friendly labour market” and many are rethinking their career priorities.
To attract and then retain the talent they need, businesses need to work much harder on developing a competitive offer. This doesn’t just mean a high salary, but other key things that staff are looking for in a permanent role. For example, flexible working arrangements, opportunities to progress, upskilling and training.
Facing a recruitment challenge, or looking for a new role in tech? Whether you’re searching or hiring, we can help. Get in touch with our expert team here at Fairmont Recruitment today.