The Barclays Employers Survey 2014 claims that UK technology companies are among the most confident British businesses when it comes to the coming year.
In fact, ‘UK Plc’ as a whole predict positive things in the year ahead. Overall, 57% of the firms polled by the bank claim they plan to raise employee pay, with 39% saying that’s going to be for their entire workforce.
Of all the businesses contacted, 21% thought that unemployment would fall enough to trigger a raise in interest rates this year, while 25% thought interest rates wouldn’t rise until 2016 or later. However this figure comes before last week’s announcement that unemployment had fallen to 7.1%.
The tech sector – represented by 32 firms - came third for confidence in the survey after telecoms and travel.
The faith in the future of Bristish technologists was demonstrated in the finding that the majority (71%) of technology firms are planning to increase wages this year.
When their motivations for this were queried, only 16% said pressure from employees was a major concern, compared to 65% of firms claiming that their decision was not influenced by employees, for example.
Commenting on the new, Barclays said: “This is a very optimistic sentiment and a shift from the wage freeze environment of the last few years, which can only be a positive for employee morale.”
The use of apprenticeships also saw growth within the technology sector. In 2012, 30% of tech businesses hired apprentices with 19% planning to take them on in 2013. By contrast, in 2013 more, 34%, took on added apprentices, with 40% planning to add more young employees like this in 2014.