Welcome to your roundup of some of the past week’s most interesting surveys, statistics and reports relevant to those involved in the UK tech industry.
This week, we have statistics covering the growing IT skills shortage, cyber safety, real estate and the ever-topical future impact of Brexit upon young entrepreneurs.
IT skills shortage
Some 62% of IT leaders expect to see an increase in people from non-tech backgrounds entering IT departments over the next two years. This information comes from ‘Tomorrow’s Tech Teams’ survey by Experis. With priorities changing, the need for individuals with a wider skill set is complicating the current IT skills shortage.
Geoff Smith, managing director of Experis, said: “The prevailing narrative of the IT skills crisis is that we need more skills in specific tech areas in order for businesses to embrace emerging technologies, innovate and remain competitive.”
The research also revealed 97% IT leaders believe the most successful teams of the future will be those that support continuous learning, and 94% believe successful IT teams should have a training strategy that responds to emerging tech trends. Worryingly, however, 15% claim their organisations have no training in place.
“Individuals that challenge and question existing systems and processes in order to make improvements, displaying a growth mindset, will drive innovation,” continued Smith.
IT leaders say failing to offer the right learning and development opportunities is likely to reduce business growth and competitive advantage. It will also increase stress on IT teams (53%), reduce morale (46%) and reduce productivity (43%).
Research conducted by FTI Consulting on behalf of Nabarro revealed 86% of those polled believe the majority of occupier demand will come from companies in the technology sector in the next two years. Those surveyed were 302 UK-based real estate investors, developers and agents.
Some 88% also believe the demand for flexible work environments is set to rise and transform the office of the future. Millennials, who will make-up 75% of the workforce by 2030, prefer the flexible work ethos, which allows them to work anywhere at anytime.
Meanwhile, 59% believe 3D printing will be fully utilised within the next 10 years as part of the UK construction process.
Ciaran Carvalho, senior partner and head of real estate at Nabarro, said: “Technology is changing the way we live and work while disrupting traditional business models. The impact on our offices, workspaces, infrastructure and the way we transact, build and occupy commercial real estate means we have to spot trends fast in order to make the most of the future, rather than be overtaken by it. The real estate sector needs to be a fast follower, not a slow adopter.”
‘Countering Cyber-crime in Financial Services’, a report by GreySpark, has estimated 95% of cyber-crime is attributed to human error. Training programmes covering the basics of cybersecurity should thus be an integral part of learning and development support for all staff.
Evolving technology and expanded electronification are increasing potential risks and challenging the cyber-defences of financial institutions, and Rachel Lindstrom, GreySpark senior consultant, said: “Cybersecurity for financial institutions must evolve as fast as the technology and techniques used to breach their defences.
“By engaging with experts who specialise in carrying out assessments and tests of cyber-security plans, financial companies can quickly and easily benefit from shared expertise,” Lindstorm concluded.
Business after Brexit
Some 63% of millennial entrepreneurs say they intend to start more than one business, according to the Sage ‘Walk With Me’ report.
In a post-Brexit world, it is the younger generation of business people that will have to adapt to the consequences of the referendum.
With 34% of millennials saying they started their business to be master of their own destiny; 24% to turn their ideas into reality, and just 21% to make money, the future generation of entrepreneurs is promising.
Stephen Kelly, Sage CEO, said: “Millennial entrepreneurs have a huge role to play in the startup economy and are shaping the modern workplace at great pace.”
Of the respondents, 62% said they’d sacrifice profit to stay true to their ideals in terms of operational innovation, market focus and social responsibility.
“They will be our next generation of business builders, the heroes of the economy, and understanding what makes them tick now stands us all in good stead for the future,” concluded Kelly.
Some 63% of mobile device users across Europe will be banking by mobile within 12 months, according to the ING International Survey – Mobile Banking 2016.
The survey also revealed 71% of mobile bankers say it helps them manage money better, with many saying the benefits are increasing over time.
Ian Bright, senior economist at ING, said: “The mobile revolution is not a fad. People not only want to use their mobile phone in their everyday life to manage their money but many also reckon it helps them manage their money better.”