- IMS People Possible investigate the current state of the UK Tech sector.
- We explore the impacts the current economy has had on recruitment in the UK Tech sector.
According to studies from Technation, the UK’s digital tech sector is valued at £184bn (2018), a rise from £170bn in 2016. Ranking the UK 3rd in the world ranking for digital tech company investment, just behind the USA and China.
The UK has some of the most exciting tech companies that are experiencing tremendous growth, such as Deliveroo, Funding Circle and TransferWise. London isn’t the only city benefitting from the thriving tech market with 16 towns across the UK experiencing high levels of tech employment including Burnley, Livingstone and Reading.
As part of their studies, Tech Nation spoke to over 3,500 people, discovering some of the challenges that tech employment hopefuls experience, in the search for jobs with poor transport options and access to funding featuring as main issues.
Another issue the industry faces is the recruitment of women, with only 19% of jobs filled with female employees a severe drop from the national average of 49% across other sectors.
While challenges are present for those seeking a career in the tech industry, the statistics show that only 8.4% of tech graduates are unemployed.
The report reflected the optimism surrounding the future of the tech industry, even in the face of Brexit and the expectation that digital tech industries will expand or at least stay the same.
Despite the challenges tech hopefuls face in securing employment in the industry, the consistency in growth of tech firms are generating more opportunities and jobs. Research shows that the tech sector is generating jobs twice as fast as any other industry. Although, there is evidence to show that a skills shortage may be apparent in the effort to fill the roles.
In response to the potential skills shortage, the UK government have put into practice plans to support UK tech talent by setting up tech hubs, financial support and development initiatives.
In conclusion, the UK Tech sector is thriving despite the current difficulties it faces within the economy. While the industry still has some challenges to overcome, considerable progress is being made for the future, and the time is perfect for pursuing a role in the industry, especially with the amount of support available.
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