In reading through GP Bullhound’s article that was published last week aptly titled “Titans of Tech – Pandemic Proof” one thing has become incredibly clear; the tech industry is flying.
All across the board, from companies reaching unicorn status to tech employees receiving more and more opportunities. We’ve seen a vast transformation occur throughout society that has resulted in the European tech ecosystem now being worth an astonishing $801bn – a growth of nearly 9 times since Bullhound’s last report.
But why is this? Despite the astounding and unprecedented events of the last two years, why is it that by and large, the tech industry (with some obvious exceptions of course) has been able to not only survive under the unfortunate circumstances but thrive?
After sitting down with the MRJ Recruitment team, we believe it boils down to one simplified attribute of the tech industry: Adaptability.
With the emergence of the COVID-19 pandemic and the tearing up of normality within ordinary life, every company, sector and person has had to adapt quickly and abruptly to the changing circumstances of the world.
No longer is face to face service considered the optimal way of communicating anymore with lockdown after lockdown resulting in businesses having to update their archaic tech systems to cope with the sudden new influx of online activity. Digital transformation, which traditionally may have been considered a side project for an organisation has now been brought front and centre to their list of priorities and company goals.
In this shifting of goals, we've been able to experience a societal shift occur toward the already steady evolution the world was naturally moving towards, that being a largely more digital way of living. (think the internet of things with some face-to-face exceptions when necessary).
That has brought with it a wealth of opportunity within the tech industry for Developers and Engineers to step up to the challenge and help fill in the gaps that other sectors across the world may have encountered in their online operations
The GP Bullhound article in referencing this phenomenon highlights the food delivery sector amongst others as an area that has benefitted greatly from the tech industries contributions and in turn, boosted techs overall worth across society:
“European tech companies stepped up and kept lives moving by providing solutions for food delivery, ed-tech, med-tech, entertainment, home working, and virtual conferences”
As the great unifier for society during the lockdown, the online space has created an almost two-way model of success for tech and its users whereby the digital industry will receive more work (which is obviously beneficial) whilst on the other side sectors and businesses will receive solutions to the wide array of problems that may have arisen internally and externally because of the pandemic.
Reading through GP Bullhound’s article paints an overall positive look for the tech landscape. Its ability to adapt during the pandemic offers a wide array of tech companies a chance to “fill a need” and lay claim to a particular societal need, whether that be to talk (Zoom, and Microsoft Teams rapid rise to fame) or shop (old eCommerce systems being updated).
What is clear though, in no uncertain terms, is that the tech industry before and after the pandemic continues to deliver year after year with the digitalisation of our lifestyles continuing to occur both now and well into the future.
This of course, from the side of recruitment, makes tech roles all the rage right now, with there being huge monetary gains experienced through tech on both the organisational and personnel side that we have been able to see first-hand.
With no immediate reason to slow down, it remains to be seen what the tech industry will look like in a few years, but MRJ Recruitment remain certain that the continual need for Tech's services will only continue to increase as navigate through the end of the pandemic.