As Covid-19 restrictions ease across the UK and life slowly returns to something approaching normal you might well have noticed the increase in job postings across the tech sector.
In general there’s been a rise in confidence from tech companies about the potential for near-term growth. According to KPMG’s quarterly index, in the first quarter of 2021 the optimism regarding growth in the tech sector had peaked to its highest point since 2014.[i] This rise in optimism has also resulted in more and more money being invested into the tech market. Between 2015 and 2020 £48 billion of venture capital went into the market.[ii] On top of this the pandemic increased the pace of digitalisation as businesses adapt to remote working. All of these factors have culminated in a massive drive for hiring across the sector.
Hiring has undoubtedly increased across the sector in 2021. According to KPMG tech companies in the UK have be hiring at the highest rate since 2019.[iii] The number of vacancies have risen to over 100,000 advertised on job sites every week and remained above that level consistently since February, with 12% of all UK job posting being tech-related in May.[iv] To give some comparison to last year, in April 2021 there were 9783 vacancies for software developers, compared to 5630 in April 2020.[v] Data collected by Adzuna and Dealroom for the Government’s Digital Economy Council suggested that there are now more tech jobs available than there has been at any point since 2016.[vi] Any way you look at it, it’s clear that the market is booming and showing no signs of slowing.
This increase in hiring is a good symbol of economic recovery, but what does it mean for hiring managers across the UK who now have more competition in an already candidate-driven market? Realistically, it means that those roles will be even harder to fill. While there have been more people retraining throughout the pandemic to enter the tech sector it’s clear that demand is currently outstripping supply. It’s vital that firms seeking to hire do more to attract candidates (and you can find out more about how to do that here. At Acorn Technology we’ve talked to various clients who have found that the number of direct applications they receive has decreased sharply this year. It’s not always possible for companies to spend the number of hours needed to find suitable and interested candidates and many don’t have the resources to do so. More companies are turning to recruiters to help source candidates.
At Acorn Technology we have a network of candidates who we’ve worked with across the years and we use a variety of tools to headhunt candidates, including LinkedIn Recruiter, as well as using tech-specific platforms like Stack Overflow and GitHub. You can read more about our approach here Additionally we take the consultative aspect of our role seriously. We utilise our in-depth knowledge of the job market to help our clients remain competitive in a tough market. As our recruiters specialise in particular areas, we really know what we’re talking to – and nothing can put candidates off more than being approached about irrelevant jobs. Our focus is always on quality of service so you know that the candidates we send to you are suitable for your team.
If you’d like to find out more about our services then you can book a call via our website https://www.acorntechnology.co.uk/.