Umbrella Company Employees specialising in the field of IT contracting are benefiting from buoyant optimism amongst the UK’s tech sector firms, whose hiring activity is outstripping all other private sector industries.
The latest Tech Monitor UK study by KPMG and Markit, reveals that 49% of tech companies plan to expand their headcounts over the coming 12 months. The findings are line with the latest PMI Employment Index, which suggests that hiring amongst UK tech firms is significantly outpacing the UK private sector average.
In March, the UK Tech PMI index, which measures business activity in the tech sector, posted a score of 60.0, well above the no-change threshold of 50.0 and only marginally shy of the ten-year high of 60.9 recorded at the close of 2013. The average score for the private sector as a whole in March was 58.1.
Commenting on the findings, KPMG’s head of technology, Tudor Aw, said that the tech sector was having a positive impact on the UK’s overall economic activity, with tech firms playing an important role across the country in facilitating the burgeoning recovery.
Mr Aw added: “It is time the sector received the recognition and support it deserves. There are some fantastic advocates in government and business for the UK’s buzzing startup scene but we must not neglect the wider tech sector. We should ensure that the sector as a whole gets the profile and support that it needs, such as focused government policies that help develop and encourage education in STEM subjects, and ease access to tech talent on a global basis.”