For those tech companies on a mission to find top software engineers, developers, data scientists or Board level executives right now, a lot of factors are in play that are making this extremely tough (something of an understatement).
If you already have recent, direct, experience of this you will have found job postings plus wider recruitment activities returning few suitable applicants; stiff competition for the attention of top flight candidates; salaries that are several levels beyond those being paid pre-Covid.
Here are some of the factors that have led to this:
Challenging jobs market (Summer 2021)
- the loosening of lockdown restrictions has led to a sharp increase in recruitment activity. According to the ONS, labour market demand has risen at its fastest rate since the early 1990’s and the number of job vacancies has increased - although still below pre-pandemic levels
- the demand in the UK for highly skilled software engineers outstrips the supply many times over, especially in London, Oxford, the M4/M3 corridor and Cambridge (so expect huge competition)
- the talent pool, pre-Brexit already small for the most in demand skills, is now measurably smaller owing to the EU settlement scheme, the decline in EU talent looking to work in the UK and complications of visas for non UK candidates
- in recent weeks there has been an uptick in the number of available IT candidates but these are largely more junior and less experienced people
- remote working is now more widely available both for people based in the UK and for candidates located across Europe to join UK based companies. This will widen the available talent pool for tech companies that can accommodate remote working
- the contract market (although coming under some pressure in certain sectors) remains pretty strong
- the ongoing difficulties on the back of Covid further complicate matters
The effect of all of this is that recruiting for such talent is, for now at least, measurably more difficult and more frustrating for everyone.
At RWA we believe we have some answers.
As a starter, we are happy to work with clients to brainstorm an approach that is tailored to your particular strengths on the ground; to compete on your terms.