the trend for IT employment. Whilst it is unsurprising that the capital city attracts a high number of skilled professionals, the latest data shows that London now generates 41.4% of the country’s entire IT positions.
The market share of IT contracting jobs used to be spread across a number of regions. However, austerity measures put into place by both public and private sectors have meant that many employers have not been able to create any new technological posts. Whilst the South East contributed 23.8% of IT jobs in 2008, this has now fallen to 22.5%; this is almost half of those offered within London.
Information showed that London has largely been insulated from many of the cuts being made across the country and has therefore been able to continue offering IT jobs. In fact, the ‘Silicon Roundabout’ region of London has over 500 start-up technology firms now occupying it, indicating that the capital is becoming Europe’s technological hub.
Recruitment expert Michael Bennett said: “There has been a long term decline in the number of candidates with IT qualifications coming onto the market. This has intensified poaching and bidding wars for talent among tech start-ups. The problem start-ups face is that larger organisations can usually outbid them, which means they can find themselves constantly fighting for skills.”
For recruitment agents in London, especially those specialising in IT staff, this means that the prospects for employment look lucrative. For contractors across the country, considering a London move could be wise.
Geoff Newman from flat fee recruitment agency RecruitmentGenius.com believes employers will shortly become paranoid. “Whilst there is a lot of collaboration and good spirit with employers within Silicon Roundabout attending the same employment fairs I’m sure attitudes will soon change as they have in Silicon Valley. In the Valley not only are people fighting to get staff but losing sleep trying to keep them.”