Specialized technological profiles are difficult to find, but in Europe, the number of experts is increasing rapidly. Because of this, the so-called Technological Talent War has exploded among IT companies. Companies want to find candidates with the most resilient and specific knowledge possible and competitiveness is growing. This is accentuated taking into account that the state of the technological world in Europe has been strengthened more than ever throughout 2017. In this article we explore what this Technological Talent War consists of and the state of its work environment in Europe.
The Technological Talent War has generated a pressing need for HR services in outsourcing in the relevant environments. Therefore, at Loadjobs, we have experts in digital recruitment, we put at your disposal a team capable of finding professionals with the most specific IT skills. To better understand this "War of Talent" we will start by analyzing the origins of the concept.
The origins of the Talent War
The term of the Talent War was born in 1997 by the strategic consultant McKinsey & Company. Later they would realize that this concept defined events that had happened in the past. Thus, through historical analysis, they positioned the first Talent War in the 1980s. This timeframe was marked by the passage from the industrial era to the information era.
In the industrial era, tangible assets were valued more, such as machines or the capital of the company itself. During the information era, however, intangible assets began to gain importance. In this way, brands, intellectual capital, and talent finally got the consideration they deserved. The companies then began to worry not about mass production but about recruiting the best professionals.
Today we find the beginning of a War of Technological Talent. The most demanded profiles are now young professionals with very specific studies and experience in environments related to the world of technology and telecommunications. These professionals rotate the company with great ease and are willing to sacrifice time, money and comfort to continue forming. The restlessness and dynamism that define the new generations have undoubtedly been the fuse that has exploded this "war". Companies are in a search for permanent talent because they know they can not keep it for long.
The state of Technological Talent in Europe
To understand the Technological Talent War in Europe, we must know the state of this environment in the old continent. According to Atomico's The State of European Tech 2017 study, the number of STEM graduates in Europe has doubled: science, engineering, technology, and mathematics. These professionals are valued more and more since they will be the response profiles of the Digital Transformation of the global economy.
There are already more than 5.5 million developers on the continent and recruiters are targeting them. According to Atomico, the level of optimism of investors in the European technological environment is 90%. However, in the United Kingdom, these investors are somewhat more pessimistic, affected by the Brexit. This phenomenon has generated insecurity in the processes of contracting, investment and the location of offices.
The geographical diversity of the European territory has allowed companies to finance themselves across borders. In addition, the European technological environment is sustained by a talent coming from all corners of the planet. Larger corporations can afford to offer attractive salaries to recruit the best professionals, and the number of developers seems to keep growing.
The Technological Talent War and the increase in investment
The capital allocated to the technological field in Europe has set another record throughout this year. This figure now amounts to 19,000 million euros. The European Tech sector has 4 times more investors than in 2012. We are especially looking for technical profiles in Artificial Intelligence, and that in Europe this specialty is also spreading. In this sense, the European technological community has reached a broad agreement to prioritize regulatory changes and thus encourage the development of AI, blockchain and autonomous vehicles. It must also be borne in mind that the growth of technological investment and the consensus between traditional companies and Tech companies is very good news for the global business environment.
Where is technology being exploited most? In the following list, we show the nations in which more STEM experts work according to the Atomico study. These are, then, the countries that are winning this Technological Talent War:
European countries with most Technological Talents
- United Kingdom
As we said, the United Kingdom is in the first position, but the Brexit is not a positive stimulus for investors. We will see that most of the institutions best considered in technology are in this country. It is evident, then, that in the United Kingdom the technological environment is exploited to the maximum.
The Technological Talent War in figures
Forecasts at an educational level in the technological field are more than optimistic in the old continent. Europe has 5 of the 10 best institutions in computing science in the world. Below we present the 10 best training centers in the world in this discipline, highlighting in bold the European training centers:
- Stanford University
- Massachusetts Institute of Technology
- Oxford University
- Federal Polytechnic School of Zurich
- University of Cambridge
- California Institute of Technology
- Carnegie Mellon University
- Georgia Institute of Technology
- Imperial School of London
- Federal Polytechnic School of Lausanne
Although access to these educational centers is complicated and expensive, Europe enjoys a high level of teaching issues. In this sense, at Atomic, they assure that 1 of every 5 MBA graduates in the best business schools of Europe is integrated into the technological industry.
The study has also calculated the average annual salary of software engineers in Europe for leading cities. This list is representative of how well valued the technological environment in this continent is:
Average European salaries in software development
- Berlin - 59.700$
- London - 54.800$
- Paris - 50.600$
- Barcelona - 40.800$
- Milan - 37.300$
- Lisbon - 32.000$
- Varsovia - 24.900$
- Bucharest - 15.000$
As we can see, in some European cities the salary amount is high. However, in this case, and to give an example, the Romanian capital does not offer high expectations. The location of cities in which technological development is promoted will increase the geographical movement of talent.
The future is technological
Technology communities are flourishing throughout the European continent. From Atomico ensure that this year we can begin to call any European city as a technological city. The specialized professional STEM profiles are more in demand than ever and this trend will continue as long as the technology continues to be explored. The expectations regarding the European technological environment are, as is clear, very positive.
Europe enjoys the best imaginable conditions to maintain the technological sciences sector. The educational level is very high, salaries are growing and the number of professionals continues to grow. It is not surprising, then, that this War of Technological Talent has broken out. Now, the responsibility of maintaining the health of the technological environment rests with the hands of the organizations. Although this competitiveness can be positive, we must not forget that the goal of technological talent should be to try to promote the development of solutions and devices for the sake of a better world.