Increase in private equity / fund backed businesses tapping into Godel’s talent pools
The biggest barrier to growth highlighted by technology leaders within the industry is the limited quantity of quality technologists available globally – talent.
Whilst technology leaders and their firms find it tough to expand technology resources within the firms headquartered location, this challenge has led to businesses growing teams of technologists further afield in onshore, nearshore and offshore locations.
Over a third of digital technology businesses report that candidates are asking for salaries which the firms are unable to afford to pay, and in UK cities, where talent exists, its in short enough supply that senior, experienced, technology professionals can essentially name their price, which is exacerbating high attrition within technology departments.
Salaries aren’t the only factor; developers are keen to work on innovate projects with the latest technologies in order to keep their skills up to date, which also means that unless organisations are willing to deliver utilising the latest technologies, its very difficult to attract or retain talent – a tough challenge not only suffered by the technology leaders within firms, but a major blocker for private equity and funding firms in the growth of the companies within their portfolios.
“Technology skills lie at the heart of almost every industry, however it’s clear that we are in the grip of an UK wide skills shortage which is slowing down businesses.” Explains Jonathan Bell, Director at LDC.
“The primary focus of private equity firms are to help grow businesses. I often see gaps where we are backing businesses to grow but our investee’s struggle to recruit the skills required to deliver against growth strategies and that’s an acute challenge for us.”
Godel, which has seen a dramatic increase in the number of private equity / fund backed clients over the past two years is in a prime position to resolve some of its clients and funders needs by allowing its partners to tap into the talent pools built by Godel within its software engineering centres of excellence in Belarus.
Paul Green, Chief Commercial Officer at Godel commented – “Whilst access to talent is a limitation, what doesn’t seem to be a blocker currently within the industry is access to funding and the support of technology businesses to expand, growth and ultimately, increase revenue and profitability.
“The key to private equity firms and funders seeing the growth value from their investment in a 3-5 year duration is going to come down to the talent their investment companies employ, their ability to retain that talent and ability to scale talent quickly when required.” – Green continued.
The firm, which boasts over 800 technology specialists has increased its national presence in Belarus by adding further offices in Grodno, Brest, Mogilev and Gomel and has recently cemented a place within the top 10 Belarusian IT companies (Belarus HTP) and with a solid pipeline of exciting projects, the growth looks set to continue.
With continued investment into its service delivery, sales, marketing and technology divisions within the UK, the firm’s Managing Director, Neil McMurdo, believes the company is in great shape to aid private equity firms and their investments –
“We are working with a number of high profile private equity or fund backed firms and understand the pressures that both the funders and investment companies are under to deliver the ROI for each other. This is embedded deeply and clearly into our mission, which is the key element when clients carry out knowledge transfer into our teams in the UK and Belarus. It gives them a real insight into what is at stake and therefore, is clear as crystal upon the team engaging.”