Increase in tech start-up employment by 22% during the current year
In the dynamic world of technology, the competition for top tech talent is fierce, with both tech start-ups and established businesses vying for the best professionals. A recent survey by the Silicon Milkroundabout community, a significant UK deep tech hub, offers insights into this competition.
While London leads with 34% of job vacancies, Cambridge follows closely with 27%. Interestingly, Brighton and Bristol also have a substantial presence, accounting for 11% and 8% of the job vacancies respectively.
The survey reveals that the tech sector is leaning towards start-ups, with two-thirds (67%) of software engineers, product managers, and designers expressing a readiness to join a tech start-up. In fact, a quarter of the surveyed professionals would only consider a tech start-up for their next job.
One of the key reasons for this trend is the expectation of learning opportunities. A staggering 98% of respondents expect learning opportunities at start-ups, compared to just 61% at established businesses. This suggests that start-ups, with their agile and innovative culture, are seen as more conducive to personal and professional growth.
However, established businesses have their advantages. They often offer more resources, greater stability, and structured career development. Their reputation and brand recognition can also attract candidates seeking a proven market presence.
Yet, established firms face challenges in competing with start-ups. The innovative culture and flexible work environments start-ups promote are major draws for tech talent. Bureaucracy and slower decision-making processes can frustrate tech professionals who prefer agility. Start-ups often offer equity stakes and a closer connection to product impact, which established companies might find harder to match.
The perception that start-ups provide a more dynamic and cutting-edge tech stack compared to legacy systems in established firms is another hurdle for established businesses. However, it's essential to note that this perception may not always be accurate, and many established firms are making significant efforts to modernise their tech stacks.
The Silicon Milkroundabout community acknowledges the competition for niche tech talent and the need for tailored approaches to talent acquisition by different types of companies. This platform, which supports connections between all tech companies and talent through meetups, events, and matching services, highlights the vibrant startup culture in the UK.
As of April this year, there were 3,229 job positions open at technology start-ups. The number of jobs available at technology start-ups has increased by 22% since last year. This growth indicates a thriving startup ecosystem in the UK, attracting top tech talent with its opportunities for learning, job satisfaction, and dynamic work environments.
Established businesses may need to offer greater learning opportunities, job satisfaction, or higher salaries to compete with start-ups for top tech talent. While the survey does not directly report specific findings about the opportunities and challenges established businesses face, it underscores the need for these businesses to adapt and innovate to remain competitive in the tech talent market.
For more specific, quantified data or direct study results, consulting Silicon Milkroundabout’s official publications or reports would be recommended.
[1] Silicon Milkroundabout community website: https://www.siliconmilkroundabout.com/
[2] Silicon Milkroundabout community events: https://www.siliconmilkroundabout.com/events/
- The survey indicates that start-ups, with their agile and innovative culture, are perceived as more conducive to personal and professional growth in education-and-self-development, making career-development opportunities in establish businesses seem less attractive to tech professionals.
- Despite the advantages of resources, greater stability, and structured career development that established businesses offer, their inability to match the dynamic, cutting-edge tech stack, innovative culture, flexible work environments, and equity stakes of tech start-ups could hinder their ability to attract top tech talent in the competitive business and finance sector.
