A new report by curated developer marketplace platform Deazy has revealed that 72 percent of Chief Technology Officers (CTOs) in the UK believe there is a severe shortage of quality developers, raising concerns about the country’s future in the rapidly evolving tech landscape.
Titled “State of Development Landscape and Trends for 2024,” the research sheds light on the pressing issue, with one-third of CTOs admitting that the shortage of tech talent is causing sleepless nights.
The main culprits identified for this shortage are the inadequacies of the UK education system in producing quality candidates and the rapid pace at which technology is advancing, making it challenging for candidates to keep up – both factors cited by half of the respondents.
Beyond these primary reasons, the report highlights other contributing factors such as the deterrent effect of AI potentially taking over much of the work (36%), the tech industry discouraging diverse candidates (35%), and Brexit shrinking the talent pool (35%).
We are approaching a crisis point
Andy Peddar, CEO of Deazy, commented, “A lack of tech talent has been an issue for years, but it feels like we could now be approaching crisis point. CTOs need to put in place measures that address this in the longer term, but also plug gaps in the short-term to ensure projects don’t suffer.”
Recruitment challenges for CTOs are compounded by both internal and external factors. Also, 37 percent of respondents noted that their organizations lacked the budget required to attract top candidates, while 31 percent cited a lack of time and resources for effective candidate sourcing.
External factors identified by CTOs included a shortage of expertise and skills in specific areas (43%) and a general lack of quality candidates (35%). Economic uncertainty further exacerbates the situation, with 31 percent of CTOs stating that candidates are increasingly hesitant to switch roles in the current climate.
How can you recruit top tech candidates?
CTOs emphasised that the most crucial benefits to offer when recruiting quality tech candidates are opportunities for progression and development (53%) and a competitive salary (50%). Surprisingly, only one in four CTOs considered being a purpose-driven organisation as the most important factor, contradicting popular perceptions of candidate preferences.
Peddar continued, “The role of CTO is pressured at the best of times, but the current recruitment challenges and dearth of tech talent are making it even harder. Attention must be paid to becoming a purpose-driven company and creating a culture that engages people and attracts talent.”
In response to these challenges, CTOs are urged to explore measures beyond their organisations, including establishing academies and training camps to ensure a continuous influx of skilled individuals equipped to meet the demands of the digital landscape.
The full Deazy report, “State of Development Landscape and Trends for 2024,” is available for download here.
Amelia Brand is the Editor for HRreview. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at the University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.