Inability to hire talent is damaging UK tech businesses
Talent visibility, lack of internal resources and competition cited as the biggest obstacles to hiring staff
Britain’s tech businesses are having their growth inhibited by a lack of top talent and the time it takes to hire, research from Hired reports.
More than half (55%) of tech companies agreed that hiring issue affect their project development, revenue, productivity and team morale, compared to the 11% of businesses owners which cited fundraising as the biggest issue.
86% of CEOs, CTOs and senior managers in UK tech businesses said long hiring times have a negative impact, while the biggest obstacles to hiring were listed as talent visibility (33%), competition for talent (28%) and lack of internal resources (20%).
A total of 42% of those surveyed said they take between one and two months to hire candidates, with 20% taking between two to three months.
Stats from London Tech Advocates and Tech City have shown that last year there were one and half million tech workers in the UK, 45,000 unfilled positions and one million tech jobs advertised – with these numbers expected to grow in 2015 and beyond. Digital employment in the UK is predicted to grow by 5.4% for 2020.
Sophie Adelman, Hired UK general manager, commented: “With the number of tech companies flourishing, companies will increasingly struggle to engage and find top talent in the UK’s competitive landscape.
“Accessing top talent is crucial to company success, but importantly, companies need to understand employee’s expectations in terms of salary and company culture, as well as streamlining their recruitment process and training their interviews as these facilitate the hiring process, making it much faster and more efficient, enabling business to hire the best talent.”