A recent survey reveals that IT skills shortages are taking a toll on businesses, with nearly a quarter of IT decision-makers estimating that these shortages are costing their companies over £100,000 a year. The costs include recruitment fees, temporary staffing, increased salaries, and investment in training lower-level employees.
The survey, which polled 200 IT decision-makers from large businesses, also found that 77% of respondents reported an increase in IT recruitment costs over the past three years. Additionally, 45% stated that these costs have risen by more than 10%.
One of the contributing factors to the skills shortage is the extended duration of job vacancies. Currently, 27% of companies take more than two months to fill a vacancy, which is higher than the figure from two years ago.
Interestingly, the survey also revealed that many businesses that manage their IT systems internally are spending significant amounts of money on in-house management. In fact, 36% of these businesses spend over £250,000 per month on managing their IT systems. However, 90% of them admit that adopting a managed services approach would save them money, with 61% believing they could save more than £50,000 per year.
Charles Courquin, Sales Director at Symatrix, commented on the findings, stating that businesses need to look externally to address the IT skills shortage and minimize the financial losses incurred. He emphasized the benefits of managed services in filling the gaps that persist in-house and driving value from investments.
The survey also highlighted the potential cost savings associated with adopting a managed services approach. 38% of businesses that have already adopted managed services estimate saving over £100,000 per year. Even those not currently using managed services recognize the cost benefits, with 61% believing they could save more than £50,000 per year by using a managed services provider.
The survey results also indicate that opting for a managed services approach guarantees return on investment (ROI). Respondents using managed services reported achieving ROI, with a higher proportion recording ROI within a year compared to those managing their IT fully in-house.