Throughout the pandemic, the importance of technology - and indeed the talent associated with the industry - was front of mind. But despite that, the industry looks to be facing a talent shortage. And, when coupled with 'The Great Resignation', it all makes for a worrying outlook.
But what could this mean for your organisation?
Recent reports show that the UK technology sector has a talent shortage which could "stifle growth".
There were more than two million UK job vacancies in tech last year, more than any other labour area. Whilst an industry coalition says nearly 12 million workers lack essential digital skills.
The article continues to explain that candidate numbers for job vacancies within the sector are falling due to the following reasons:
Earlier this year, the government announced its new digital strategy at London Tech Week, which included several measures to increase the amount of tech talent in the country.
But, as of yet, these plans have yet to bring meaningful change.
So, can the industry help drive change? According to some experts, tech companies need to start playing their part in driving change.
In an interview, Dr Graham Herries, co-chair of Innovation and Skills at the Institution of Engineering and Technology, began by saying: “It is a huge concern to see a talent shortage within our technology sector. Employers need to recognise they play a significant role in addressing the skills gaps they face - engaging with local schools, colleges and universities with employees acting as STEM ambassadors and exciting future generations should be a priority for employers."
Work remains to improve the future outlook for the industry. But what can tech companies do about retaining staff in the meantime, and why is this so important?
As touched upon earlier, the tech industry has seen a boom in recent years, with COVID accelerating digital transformation strategies by an average of seven years.
Yet, organisations with a high staff turnover may find themselves running at a deficit and playing catch up to others in their space as they try to fill vacancies. Equally, it could stifle growth and impact more than just their productivity levels. So, how do you keep employees happy?
According to UKTechNews, they need to do one of the following things:
But, another solution could already be here for organisations - regardless of if they're a tech company or are short on tech talent. That answer is in the form of Managed Service Providers (MSP).
Many businesses ask if they need an MSP, and in short, the answer is almost unanimously a yes.
MSPs operate as an extension of your in-house IT team - or become a standalone department - offering a flexible solution built to your specific needs.
They can help with tasks ranging from round-the-clock user support, cyber security, data protection or strategic planning, being a trusted port in a storm for businesses globally.
All of this means that no matter the levels of available talent, you're ready to continue business as usual.
The realities are that a talent shortage is impacting several industries globally, not just technology. And, when there are countless other things to worry about, you don't want to be concerned with your IT network - or your security.
But it doesn't have to be doom and gloom. Working with an MSP - such as Fifosys - can offer you peace of mind, as we can work as an external extension of your in-house team and offer round-the-clock maintenance, support, and advice whenever - or wherever - you need it.
Your journey can begin today by messaging our team of experts. What are you waiting for?
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