- Tech talent is becoming harder to come by in Silicon Valley as other cities become powerful innovation hubs and attract workers, a recent survey by the Brunswick Group found.
- The Brunswick Group said that about half of the Bay Area tech workers it surveyed said it’s becoming harder to find and recruit talent.
- Respondents also said Silicon Valley was seeing more competition from other cities and countries that are drawing some of the top talent away from California.
- Forty-one per cent of 18- to 34-year-old tech workers surveyed said they planned to leave the Bay Area in the next year.
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Silicon Valley is known as the center of tech and innovation, but people in the industry are noticing that its dominance is starting to slip.
A recent survey of 300 tech employees in Silicon Valley found that 49% said they expected a region outside the San Francisco Bay Area to emerge as a center of innovation. A report on the survey, compiled by the Brunswick Group, said that most of the tech workers – 74% – said they expected China to become more of a competitive threat to Silicon Valley’s tight grip on the tech industry in the next five years.
The Brunswick Group said that even as more jobs in tech emerge, about half of workers surveyed said it’s harder to find and recruit talent now than it was a year ago. That could be because the younger generation of tech workers is looking outside Silicon Valley for work – 41% of 18- to 34-year-olds surveyed said they planned to leave the Bay Area in the next year.
Despite an anticipated decrease in tech talent and increase in industry competition, Silicon Valley is still optimistic about the future. More than half of the tech workers surveyed said they expected their companies to grow, and about half said they think Silicon Valley’s best days are still ahead.
Read the full deck from the Brunswick Group’s tech talent survey:
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