The tech sector is the UK's "modern economic success story", claims TechUK. The tech industry's contribution to the UK economy increased by 26.5% between 2010 and 2019. The Department for Digital, Culture, Media and Sport (DCMS) recently released numbers that showed the digital industry has boosted the UK economy by £150.6 billion.
The issue? The talent pool must expand at a rate that is equivalent to or greater than the sector's rapid expansion. We are currently dealing with a drought in the North West. The small pool we had accumulated prior to the boom has been depleted due to the enormous demand for new employees from start-ups and large enterprises.
What's the effect on resources?
The story that keeps coming up is that there has never been more competition in the market than there is right now, and that salary, perks, and flexible scheduling are all important negotiating chips to draw in top personnel.
The problem is that it's difficult for candidates to break through the noise and determine who is truly delivering something extraordinary now that everyone is yelling about what they have to offer.
Working with a tech stack that is uncommon in the North West just makes the skills deficit worse. The Manchester-based firm Rainy City Agency has had to modify its hiring procedure to take into account the additional time needed to fill each vacancy.
“As a Shopify specific agency, we’ve always found finding tech talent in the area tricky. Shopify is fairly unknown to developers in the Manchester area, so it makes our search even smaller. That, coupled with the overall tech talent search, has made hiring a lot more difficult over the past six months. Our advice is to really plan ahead – look to where you’ll need the new hires over the next 12-24 months and try to plan in the factor of a much longer hiring lead time will help,” said Rebecca Worsley, CEO at Rainy City Agency.
What can be done?
Take a tip from Rebecca and start putting time and money into the sector right now, whether you need it right away or not. Here are three methods for getting going:
- Maintaining existing customers. Take care of the group you already have! Making employees feel content, fulfilled, and invested in their particular function should be your top focus if the market is as competitive as it is because replacing them won't be simple or quick.
- Develop greater skill. It doesn't matter if this involves recruiting young people as an investment with the intention of developing them or offering presentations or seminars to students at the grassroots level to encourage them to pursue careers in technology in the future. It will require a focused effort to grow the pool of candidates to a sustainable level.
- Display appeal. Although employer branding and advertising are important, prospects nowadays are seeking a more all-encompassing, experience process. Utilise your greatest asset by using the knowledge and perspectives of your current team to demonstrate why potential candidates should want to join the journey. Make your benefits package more competitive than those of your rivals. Create a TikTok account to provide an unfiltered snapshot of your culture.