Cambridge tech companies plan for growth in 2017
Significant' number of tech companies plan to double in size over the next 12 months, report says.
High-tech recruiters ECM have released an annual salary and benefits report, with findings showing that many Cambridge tech businesses have significant growth plans for the coming year. The report aims to allow companies to compare salary levels and benefits packages to ensure they retain key staff and can continue to attract the most highly sought-after candidates. It also looks at companies’ recruitment plans.
ECM have reported that a large proportion of respondents revealed significant growth plans for the coming year, many stating that they intend to expand by 10-20 per cent in 2017, and ‘a significant number’ of companies in the 25-50 employee range say they hope to double in size over the next 12 months.
The report’s author, ECM director Martin Constantinides, says: “As in previous years, many of ECM’s more established clients grew in 2016 and we saw a good number of new clients coming onto the books. Unfortunately lots of these companies are looking for the same exceptional candidates! This has led to pressure across the board on starting salaries, which is detailed in our report.”
The report also asked Cambridge companies how they thought they might be affected by Brexit. ECM report that ‘probably the most accurate’ comment received was: “Don’t know (who does?)”.
In 2016 there continued to be news of very substantial rounds of investment in the high-tech sector, as well as some high profile, and high value, takeovers. Investors reportedly remained attracted by the prospects of early-stage tech companies.