We learned last week that the UK economy was back to pre-pandemic levels in November. That’s a relief, but recent research by Pantheon Economics, as reported today in the broadsheets, notes that “the proportion of workers changing jobs surged in 2021 to reach its highest level in the past 20 years but lower confidence and a sluggish housing market will drive job moves back to pre-Covid norms this year.” In addition, firms struggling due to labour shortages will not be encouraged by ONS estimates that employment fell by 567,000 since the pandemic hit. All of which suggests that the scramble for staff is going to get worse during the economy’s reopening.
The Pantheon Economics’ and ONS studies are, of course, broad-ranging and not confined to the IT sector: nonetheless, the findings ring true to us, with IT (as well as hospitality and construction) being particularly hard hit by the shortfall, with increasing competition for workers leading to pay rises for new staff (spoiler alert – our forthcoming Career Planning Study shows that pay is, by some way, the most important attribute of any new job for techies).
Furthermore, Gabriella Dickens at Pantheon Macroeconomics, notes that “there is usually a close relationship between housing transactions and labour mobility, with the latter likely to suffer if housing is not available where people want to work.” This, in my opinion is not such an issue for IT (second spoiler alert – our Career Planning Study will note a huge demand for flexible – and especially totally remote – working).
The world of work (or should that be ‘worlds of work’?) has altered significantly in the last few years, with Covid dramatically accelerating changes that were already (slowly) being felt by employers. One of the outcomes of the pandemic has been an increase in the number of IT Directors seeking more flexible resourcing
I’m pleased to report that Be-IT Projects is already working with a number of companies to deliver project-based strategic goals, without the client having to divert internal permanent resources or rely on an expensive System Integrator solution. Whether it’s a one-off small project (typically from a smaller tech company which doesn’t want to invest in the medium-long term in perm staff) or as part of a much larger project involving big consultants who might lack the local knowledge and contacts to provide the talent to deliver, we can help. For more information, contact me here.
Matt Druce, Client Delivery Director, Be-IT Projects