There’s no denying the dramatic shift Covid 19 had caused regarding remote work. However, when we look at inner city London, the shift back toward hybrid working has made the industry adapt to a new style of working while embracing the old.
We’re still seeing plenty of our clients preferring London-based candidates - despite having the opportunity to hire someone from elsewhere on a potentially lower salary. Salaries are also continuing to increase in this region and, as of September 2021, 1 in 5 jobs throughout London were in the tech sector. This shows the digital industry is continuing to thrive here, and it’s unlikely to stop anytime soon.
The pandemic has highlighted the importance of being adaptable and embracing change. And, if you’re unwilling to progress with the times, there’s a strong chance you’ll get left behind and could lose your best talent. Candidates know their worth, with many getting a 20-30% salary increase when they switch to another role - as well as at least 2-3 opportunities at once. Counter offers are getting higher due to this level of competition.
London is still undoubtedly the tech capital of Europe, and there are no signs of slowing down anytime soon. But, as we move into 2022, I think employer branding should be a huge priority for companies. Competition is steep with candidates having multiple offers on the table, making standing out from the crowd absolutely essential in order to stay relevant (and keep your best talent on board).
At the rate we’re going, competition is only looking to increase. I predict retention being a potential struggle for some companies - meaning employer branding must become a top priority for many this year. Candidates are being presented with more offers than ever, and we continue to be passionate and committed about delivering innovative talent to our clients.
Our experts interact with hiring managers and candidates daily, giving us unique, real-world insights into the latest salary and benefits trends.
London is without a doubt one of the greatest cities in the world. Whatever you need, London will cater for. It's a city steeped in history brought to life by it's diverse, creative, ambitious residents.
On the flip side, some aspects of living in London are unavoidable. You'll pay a premium for everything from your morning coffee to rental accommodation. In fact, unless your salary is within the top 30% of earners, you'll likely be flat-sharing or facing a long busy commute in and out of the city.
If you're working for one of the major financial businesses which make up a huge number of the tech roles in the city, you'll likely be based in and around Canary Wharf, for the remaining digital tech professionals working for creatives or startups you'll have the pick of tech clusters spread across the city.
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Whether you’re in Sydney, New York or London, we have recruitment specialists available around the world to help you source the best candidates in tech. Get in touch to learn how.