– Key European cities benefiting out of jobs being migrated include Zurich, Frankfurt, Paris, Dublin and Warsaw.
– Amongst the Bulge Firms, front and middle office roles were down 14% in 2018 compared to 2017. So far 2019 is continuing the same trend.
– Interestingly, among the American banks, what we also see is that while some jobs are migrating to the EU, many are moving back to New York.
The tech talent shortage is growing in the UK. The 2018 Tech Nation Report showed that only 24% of companies were positive about their ability to recruit skilled workers. In 83% of clusters, the tech community named a lack of talent as their biggest challenge.
Talent shortages remain a key area of concern, where the impact of Brexit is meaning that the UK is no longer as attractive for EU nationals and given that 25% of Tech Talent in the UK is not British, the threat to the IT labour pool is real.
With this, businesses are increasingly turning to the Human Cloud as the solution, in this report we analyse why this is becoming a solution.
– In terms of activity so far this year, should it continue, we expect volumes to increase, with the forecast being for vacancy growth of 21.5% compared to 2018.
– Within the EU 27 specifically, we see that within the top 10 countries, the biggest increase in activity was seen in Italy, up by 100% since 2018, thereby overtaking Belgium and France.
– However the biggest year on year increase amongst the top ten countries has been in the Netherlands, where since 2018 recruiting activity has exploded by 200%.
As time ticks away in the run-up to October 31, the concern for the Government will be that businesses are now with-holding investment until it becomes clear what the relationship will be between the UK and EU, where the Insurance market is one of many sectors where this trend is visible.
As an example, when comparing 2019 to 2018, what we have seen is that the overall volumes in Insurance have decreased by 16.7%.