London remains the most attractive destination in the world for tech talents who want to relocate.
A survey by the Boston Consulting Group showed that London has retained its title as the most attractive city for technology workers with 12 per cent of 9,900 respondents saying they would be willing to relocate to the UK capital. Singapore ranked second with a score of 10 percent and Amsterdam finished third.
“Employees in digital roles emerged relatively unharmed from the COVID crisis and are now entering an overheated talent market with many opportunities,” said Orsolya Kovács-Ondrejkovic, associate director at BCG and co-author of the report.
With high demand for technology workers, the report warned that a major wave of layoffs could be on the horizon. As many as 40 percent of employees working in digital fields are looking for active jobs, and nearly 75 percent expect to leave their current position within the next two to three years.
For the UK, which was confirmed as the fifth most popular destination for technology talent globally, a mass shake-up in the sector could help ease chronic staff shortages in the technology area, which reached 102,661 at the beginning of the month, according to REC data.
Bumper salaries may be needed to attract top talent, according to the report’s authors.
“As companies across all industries digitize, the wages of tech talent have risen to a level where few employers can compete,” said Kovács-Ondrejkovic, revealing that financial compensation is now the third most important consideration for tech. workers looking for a new role. up from fifth place in 2018.
“But our research shows that money is not everything – employers can still be attractive to digital talent with the right workplace culture and values,” she added, pointing out that a good work-life balance and strong relationships with colleagues have also been top notch. priorities for technology workers during the pandemic.
The survey was conducted by BCG in collaboration with The Network, a collective of more than 60 recruitment sites.
Read more: UK tech jobs return as investment hits record highs