London remains the most attractive destination in the world for tech talent looking to relocate.
A survey by the Boston Consulting Group found that London has retained its title as the most attractive city for tech workers with 12 per cent of 9,900 respondents saying they would be willing to relocate to the UK capital. Singapore ranked in second place with a score of 10 per cent and Amsterdam was third.
“Workers in digital roles emerged from the COVID crisis relatively unscathed and are now entering an overheated talent market with many options,” said Orsolya Kovács-Ondrejkovic, an associate director at BCG and a coauthor of the report.
With tech workers in high demand the report warned that a great resignation wave could be on the horizon. As many as 40 per cent of employees working in digital fields are actively job hunting, and nearly 75 per cent are expecting to leave their current role in the next two to three years.
For the UK, which was confirmed as the fifth most popular destination for tech talent globally, a mass shake up in the sector could help ease chronic staff shortages in the tech space which reached 102,661 at the start 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, salaries for tech talent have skyrocketed to a level where few employers can compete,” said Kovács-Ondrejkovic, who revealed that financial compensation is now the third most important consideration for tech workers looking for a new role, up from fifth in 2018.
“However, our research shows that money isn’t 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 become top priorities for tech workers during the pandemic.
The research was conducted by BCG in conjunction with The Network, a collective of more than 60 recruitment websites.