– 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.
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%.
For recruiters in the sector, the signs of brexit are starting to be seen. The uncertainty caused by the political situation in Q1 led to a collapse in vacancies in law firms, where overall, volumes were down almost 100% compared to Q4 2018.
As mentioned previously, wheras Legal vacancies have dropped significantly so far this year, within the TMT industry specifically, overall activity has held up.
Analysing in-house by region, we see that activity in London has surged, with vacancies up over 30% since 2018. What this has meant is that the new inhouse vacancies being created are being disproportionately so in London, where the share within the capital has increased from 72% to over 83% in Q1.
Finally, in 2019 so far, KPMG have become the dominant recruiters for SAP, with vacancy volumes up 537% since 2018.
