The demand for specialized workforce in ICT increased by 5.3% in a single year
The turnover of technology service companies also grew (+4.6% year-on-year), which makes us a true driver of the demand for qualified employment.
The need for talent in the service sector related to Information and Communication Technologies (ICT) has increased by 5.3% in the last year, according to the results of the first ‘TIC Monitor’ by VASS. This makes companies in the sector, among which we include ourselves, a real engine in terms of attracting specialized employment. In fact, this figure doubles the national average of activities related to the service sector.
Focused on analyzing the year-to-year evolution of Spanish technology companies in terms of employment needs, business figures, and business climate, the VASS barometer has as its main objective facilitating the monitoring of the economic cycle in a key sector for the Spanish economy and its digital transformation, such as the ICT.
According to this report, which VASS will publish every month, Spanish ICT companies also maintain an ascending rhythm regarding profits and we have a year-on-year growth of +4.6%, which results on a quarterly average of +7.2%, more than one point above the average for the service sector.
For the responsible party of ‘TIC Monitor’, the professor of the Department of Economic Structure and Development Economics of the Autonomous University of Madrid (UAM, due to its Spanish name), Antonio Rueda, these figures clearly show that “we are facing one of the strategic sectors and employment catalysts and activity in Spain.” “IT consultancy has been less punished by the crisis and has shown greater strength in the maintenance and generation of employment. Faced with a relatively flat behavior of the service sector, IT consultancy marks a dynamic growth, very indicative of the digital transformation of the Spanish economy. Anticipating even structural problems due to the shortage of talent and adequate profiles that allow continuing this positive dynamic“, he emphasizes.
These clearly positive trends, both in the demand for specialized employment and in the evolution of ICT business figures, also have their reflection on the expectations of growth and activity that the ICT consultants themselves have on us and our sector.
According to ‘TIC Monitor’ of the month of May, an overwhelming majority of us (71.5%) believe that the dynamics will continue to be of growth within the next three months. This means that only 28.5% perceive a worsening situation or believe that their future prospects will be less satisfactory than those of a year ago, which makes a positive net average of 43% on a scale of +/- 100.
When asked regarding the expectations of three months of activity, the data is even more positive: 82.5% of the Spanish ICT consultancy firms believe that there are better business prospects for the next three months than there were just a year ago. Against this, 17.5% perceive a worsening, which means a positive net growth of 65% on a scale, also, of +/- 100.
VASS, a benchmark in ICT research
As we announced, this ‘TIC Monitor’ is the result of collaboration between VASS and CEPREDE, we have united to jointly analyze the tendencies in the technological consulting area. This study, whose results will be announced on a regular basis the third week of each month, is included within ‘VASS Research ‘, our innovative platform for the study and development of innovation with which we want to establish ourselves at the forefront of ICT research in Spain.
Our goal is to become a benchmark for ICT sector trends with a monthly barometer that will bring an original and unprecedented perspective in relation to the evolution of activity, employment, and business prospects, in the field of information technology and ICT, both in Spain and in the European Union.
In order to do so, official data from the National Employment Institute (INE, due to its Spanish name) and the European Commission are analyzed together with other current and accurate data regarding the evolution of the IT consulting subsector, both nationally as well as in different autonomous communities.