In 2014, I (Philip Fanthom, Managing Director at Jenrick IT), have witnessed the biggest gearing up in staffing demand for over a decade. Every statistic being released speaks of growth in all sectors and the increase in demand for skilled workers. The ICA (Institute of Chartered Accountants) in conjunction with Grant Thornton has announced in the BCM (British Confidence Monitor) that over 450,000 private sector jobs will be created in the next 12 months. And that’s not all; the City is set to break all records in hiring in 2014 and 2015, despite Barclays recent announcement of cuts.
Nottingham has created over 9000 jobs over the last 12 months and Manchester is set for a record hiring spree of over 13,000 jobs. Birmingham is also set for 10% increase in employment opportunities with an estimated 47,000 jobs being created over the next few years. In addition, we have a rapid increase in demand for professional contractors, especially within the Technology Sector.
As with all great things, there are some ‘health warnings’ that company bosses need to be aware of – where are you going to find the skilled people to fill these vacancies?
In the Technology Sector we have seen a huge growth, over the last 10 years, in Outsourcing, Off Shoring, Near Shoring, Home Sourcing…..etc etc. However, the CTO’s that I am speaking with are expressing a strong desire to harness technological talent in-house. In attending a recent CIO/CTO seminar I listened to a hotly contested debate regarding the challenges of hiring top technology talent. I learned that there is a growing community of CIOs and CTOs who are hungry to grow 'revenue positive' IT departments by building and continuously releasing ‘value driven’ products to the business (This is a topic on which I will write more in a few weeks).
So, what is the key challenge? Hiring top talent!
One of the areas of advice I delivered during the aforementioned debate was to suggest that companies, and the executives within the organisations, need to start thinking of acquiring talent (particularly technology talent) as they would when acquiring new clients. In the last 18 months there has been a fundamental ‘power shift’ when it comes to potential employer and potential employee. Of the companies we work with; the ones enjoying the most success in hiring top talent to deliver revenue-driven IT products and services are the ones who go out of their way to promote a kind of “Why you should work with us!!”.
We recently assisted an organisation run a campaign day to attract and on board some of the brightest technology minds. It reminds me of the days of the University ‘Milk Rounds’, but it works. We spent weeks working with the organisation to put together all the information about why it was a great place to work. In fact, one senior exec approached me and thanked me for reminding him why he loved working with the company. It can be an incredibly invigorating experience of everyone involved. The days of the imposing interviewer questioning the interviewee until they pass or fail are over……at least for now. It’s very straightforward – if you want to hire the best, you have to ask yourself one question:
“Why would one of the brightest minds in technology choose to work with us over anyone else?”
CompTIA’s workforce study shows that the majority of executives expect to grow their business this year and 62% plan to increase investment in IT products and services. 44% of IT executives interviewed suggested that they were quite some way behind their hiring plans.
It’s a very competitive environment for IT professionals. How will you win your ‘War for Talent’?
Article written by Philip Fanthom, Managing Director at Jenrick IT
IMAGE SOURCE: Courtesy of vitalangels.com FURTHER INFORMATION For information on anything in this article, please contact Philip Fanthom, Managing Director at Jenrick IT directly on 01932 245 500 or email firstname.lastname@example.org