The digital sector in the North continues to expand, yet the challenge of sourcing skilled talent remains prevalent.
With vacancies far outnumbering available workers, companies strive to bridge the gap and maintain growth.
Digital companies in the North are grappling with a distinct shortage of skilled talent, a problem persisting despite the sector’s impressive growth. A report from Tech North and EY highlights that more than 50% of these firms cite talent acquisition as a pivotal challenge. With 712,750 roles advertised in the last three years, the imbalance is clear.
The sector’s growth, at four times the wider economy’s rate, has not been met with an equally rapid increase in talent availability. With a reported 168,671 digital tech employees, the demand heavily outweighs supply. The gross value added by these roles is significant, and the projected annual growth rate of 3.5% underscores future potential.
Bob Ward, EY’s North Senior Partner, reflects on the transformative potential of the digital revolution, which is reshaping Northern economies. He underscores the urgency of governmental investment in digital education, particularly in computer science training, as a critical component of future-proofing the workforce.
Despite these efforts, more extensive initiatives may still be required to keep pace with industry demands. The rapid sectoral advancements necessitate continuous adaptation and further investment to cultivate the necessary talent pool.
While addressing these challenges can be arduous, the potential for significant economic gain exists, provided the talent shortage is addressed effectively. The digital tech roles’ heightened productivity levels suggest a brighter economic horizon, given the right interventions.
With the right strategic responses and investments, the North can navigate this critical phase of digital evolution. The focus must remain on building and nurturing the talent pipeline necessary for realising the sector’s future potential.
The Northern digital sector stands at a crossroads, with its growth potential tethered to addressing the talent gap. The concentrated efforts of industry leaders and governmental bodies will be pivotal in surmounting these challenges and unlocking continued economic prosperity.
Addressing the talent shortage is essential for sustaining the North’s digital growth.
The sector’s future hinges on strategic investments and collaborative efforts to develop the requisite skills.