Chancellor's Silicon Valley Ambition underpinned by skills availability, says expert

Responding to the Chancellor’s Autumn Statement, Matt Weston, Senior Managing Director, UK & Ireland, at Robert Half commented: “We certainly welcome the Government’s commitment to bolstering the UK’s digital and tech standing.

"However, its ambition to make the country the world’s next Silicon Valley will be underpinned by employers’ abilities to access and develop skills. Indeed, our latest 2023 Salary Guide, which analyses and reports on market salaries, hiring trends, and skills requirements across the UK, reveals companies are already struggling to attract tech talent due to increased counteroffers. 

"Our research shows 44% of the CIOs who responded are increasingly seeing candidates asking for higher salaries after being counteroffered by their current employers.

“However, this heavy reliance on financial incentives to not only retain talent, but also attract candidates, simply isn’t a long-term solution to the skills crisis affecting businesses, particularly in the current economic climate. 

"The UK needs a sustainable talent pipeline, and unless there is action to bolster skills domestically and enable international talent to work in the country, the UK’s tech standing is at considerable risk.”

To learn more about Robert Half visit https://www.roberthalf.co.uk.