As much as four out of five UK businesses are currently struggling to source the talent they need to address their IT challenges, according to a new report from Hyve Managed Hosting, a managed cloud hosting provider.
A new ‘IT and Tech Skills Gap Report 2024‘ paints a less than promising picture when it comes to the supply of skilled IT and tech professionals in the UK.
The report, conducted in collaboration with Censuswide, surveyed 500 UK business and IT decision-makers and outlines in depth the key perspectives, challenges and solutions to an issue that has pervaded the tech industry for some time.
Hyve Managed Hosting found that the majority of decision-makers believe the skills gap is one of the biggest challenges to business success, alongside ongoing economic uncertainty and keeping pace with competition and technological advances.
It says that technological evolution is currently outpacing the speed of training and development of new talent, leaving businesses vulnerable and exposed. In fact, 31 per cent of respondents feel academic institutions are not keeping up with industry progress, resulting in a shortage of qualified candidates coming out of school or university and into the workforce.
A further 30 per cent claimed a lack of training in schools is not adequately preparing individuals for entry-level roles, calling the current curriculum into question.
Private sector companies also have a hand in the current state of play regarding skills and development. Thirty-five per cent of respondents believe the competition created by larger companies exacerbates the skills shortage, as tech giants draw many skilled professionals from the market. Twenty-seven per cent believe the high cost of hiring talent is widening the skills gap.
According to the survey, cybersecurity (43 per cent) and cloud computing (34 per cent) are the most sought-after skills. Machine learning and artificial intelligence (33 per cent); developers (26 per cent); and data (25 per cent) skills trail closely behind.
Closing the skills gap
However, many UK business leaders admitted to often struggling to identify the specific skills they should be looking for when recruiting tech talent. Over half (52 per cent) often settle for less qualified professionals due to a lack of suitable candidates.
So how are firms trying to tackle the skills gap? The new research found that the most common approach is investment in the training and development of in-house talent (including reskilling and upskilling), as well as improving recruitment processes and partnering with suppliers or managed service providers.
Sixty-five per cent of business leaders surveyed currently work with a managed service provider (MSP). Of these companies, 90 per cent confirmed they do so to address the issues created by the IT and tech skills gap. Thirty-three per cent also heavily rely on the expertise of their MSP to manage IT and tech processes.
“As we prepare for a data-driven future, there is clearly a growing divide between the technology skills employers need and the skills they actually have access to,” explained Charlotte Webb, operations director at Hyve Managed Hosting. “Our report highlights just how complex a strategy is required to address today’s skills gap – one that increases collaboration between business, government and educational institutions to promote STEM subjects and the importance of IT skills across the modern working landscape.”
“MSPs have an important role to play in that strategy – helping businesses to bridge the skills gap, focus on their goals, and smartly reappropriate resources. At Hyve, we recognise the significance of the expertise we offer customers in the face of the issues outlined in this report and are committed to helping businesses unlock resources, talent and skills for long-term competitiveness and success.”
