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2 / The IT skills shortage - Implications for CIOs and IT Departments Overview It is acknowledged that IT has a crucial role to play in the UK’s future prosperity. However, with intensi ed competition from Europe and the fast emerging Asian economies, Britain must have the right level of skills, competencies and abilities to compete globally and sustain economic potency. The problem is there are serious concerns over the IT skill shortage, which remains acute. A recent survey by the CBI1 showed that 39% of rms surveyed are already struggling to recruit workers with the advanced technical STEM (science, technology, engineering and maths) skills they need. Further, 41% of the rms believe that the shortage will persist for the next three years. City AM2 also reported that technology rms in the London area are having to pay increasingly higher salaries to recruit talent. Salaries for technology jobs have risen by 26% in the last year alone with an average salary of £48,307 in London and £38,247 nationally. In the software and application development space there is a shortage of developers particularly in the UK where the digital economy is growing exponentially and in-house development is back in fashion3. Here, demand for developers is accelerating with rising salaries and increases in the number of vacancies. While rms look to up their e orts and investment in sourcing the talent required to sustain their business growth, IT project delays continue to be reported with IT request backlogs growing at a rate of 10 to 20% per year. The European Commission predicts that the UK will need an additional 500,000 IT professionals by 20154 1 http://www.cbi.org.uk/media-centre/press-releases/2013/06/businesses-fear-skills-shortage-could-hold 2 http://www.cityam.com/article/skills-shortage-hitting-uk-tech 3

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