Oxford and Cambridge Technology Survey highlights the

difficulty of finding quality staff

Access to quality staff has been identified as one of the key concerns faced by technology businesses in Cambridge and Oxford.  A survey of 500 businesses by Peters Elworthy & Moore (PEM) in Cambridge and James Cowper in Oxford, highlights recruitment of quality staff as one of the most important issues for technology businesses in both regions.

Over 60% of respondents considered that their specific location gives their business a competitive edge over businesses in other areas of the UK.  Highly rated was the strength and reputation of the Universities in both cities, linked to a commitment to technology transfer, which provides a pool of exceptional technical and academic expertise.  However, a significant majority of Oxford and Cambridge respondents highlighted the difference between recruiting technical staff and experienced, ‘multi-tasking’ professionals - the commercially-minded executives who will prove critical in helping technology businesses succeed during difficult periods.

An experienced board was also singled out as a key factor in business success in both regions.  Cited as the most important external source of business support, aside from the influence of the Universities, an experienced board is seen as helping companies attract and manage funding, suppliers and customers, and bringing advantages through access to board members’ networks, advice and expertise.  

Ann Fisher of Bailey Fisher Executive Search says: “Having spent the last 10 years working with early stage technology companies, the fundamental success comes down to the quality of the management team and the ongoing support of the Non-executives. Non-executives are often appointed to compensate for lack of in-house expertise (due to the current position of the business in its life-cycle) and provide in-depth sector experience. The key to the ultimate success of the business will be the strength of the management team.”

Technology clusters have often maintained higher growth rates during periods of economic downturn and 61% of respondents in both Oxford and Cambridge expect to see continued growth in 2009.  The quality of staff is key in helping these businesses succeed.  The report concludes “During the recessionary period ahead, technology clusters and regional leaders must pay special attention to the development and migration of quality staff – specifically the retention and production of skilled and professional staff.”

About Bailey Fisher Executive Search:

Established in 1998, Bailey Fisher is one of the UK’s leading independent executive search firms specialising in the high-growth technology sector.  Clients include the portfolio companies of leading venture capital funds as well as the professional services firms advising this sector.  Start-up technology ventures, corporate and academic spin-outs and listed companies have all benefited from Bailey Fisher’s in-depth knowledge of their target market, coupled with access to an unrivalled network of executives, entrepreneurs and investors.

www.baileyfisher.com

About Peters Elworthy & Moore (PEM):

PEM is one of East Anglia’s leading business advisors.  PEM Technology is a division of PEM which focuses on delivering sector specific advisory and financial services.  Chris Walklett, one of the driving forces behind the technology survey heads up the Business Tax Department and Technology Division at PEM, working with pre-revenue start ups to listed clients.  Previously, Chris was Head of Tax for easyJet, before being sourced for the role at PEM by Bailey Fisher Executive Search.  www.pem.co.uk

Copies of ‘The Oxford and Cambridge Technology Race’ survey, conducted by Peters Elworthy & Moore and James Cowper, are available from Sarah Burt, PEM on 01223 728301 or email: sburt@pem.co.uk

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