Tech Talent Search Spreads Through All Industries

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Oct. 18 (Bloomberg) -- Saul Klein, partner at Index Ventures, discusses how the battle for tech talent reaches every industry as companies look to poach others’ employees. He speaks on Bloomberg Television’s “The Pulse.”

Israel.

Great to have you on the program.

Talk to me about trechech talent.

Are the expectations, the aspirations different?

Tech talent is really becoming a major issue at the moment, because technology is so pervasive in our economy.

In the u.k., the internet accounts for 10% of our gdp.

So the notion of tech talent is in every sector of the economy, not just the tech companies.

Retailers and media companies need talent.

Financial services companies need talent.

Tech talent is really seeing demand across the board.

So, what you're saying is that we do not have enough of that talent and that is why they get post from one country to another?

We tend to focus on poaching within the tech industry -- twitter, google, facebook, apple, microsoft -- in a war for talent, but the reality now is that this talent is needed in every sector.

The problem is broader than facebook versus google or twitter.

Talk to me, we talk about pedigrees.

If you are at a certain company for a number of years, you would have understood stuff that you would not if you work for smaller company.

Is talent from google the most in demand?

Google is one of the great companies at the moment.

So if you are looking to build a multibillion-dollar tech franchise, or use technology in your business, google is going to be one of the places you will look to hire from.

How do i track that counts?

-- attract that talent?

Let's say i need someone digital and young, how do i approach them?

Do i need to offer them a lifestyle which is different than i iwere were to offer a chief operating officer?

The expectations of people who are tech talented are different from traditional expectations.

There is more of a flexible work environment.

People look for compensation not just in their salary but in upside in terms of equity or options.

People really expect, i think, a lifestyle and the social mission often.

And so, just having a great business sometimes is not good enough.

Looking to change the world as larry page is trying to do a google, as mark zuckerberg is trying to do it facebook, the mission as often as important as the economic outcomes to people.

It is a very different type of mindset.

I also wanted to ask you about, we talk about poaching.

Now there is also a trend, which is these big companies such as apple looking for luxury chief executive officers.

It's angela aarons.

That is because they need to transform themselves away from tech and more into something that keeps that desirability of high end luxury.

Burberry's has been a success because it's coeeo and leadership was the savviest tech leadership within the luxury in retail sector.

Burberry's pushed the envelope in terms of online and the integration of tech into the retail experience.

To me, apple wanted to hire the ceo of burberry is not as strange as it seems.

The other thing is to go back to the point of technology being ubiquitous.

When 3 billion people connected to the internet, and the internet is a larger proportion of gdp in the uk than education, health care, or construction, tech is a horizontal.

And every sector needs to understand how to integrate it.

One last question.

You focus a lot on partnering, uk tech companies with israeli companies.

How do they differ?

The two are extremely complement three.

Israel is known as the start of nation.

A place where big companies like intel or ge have gone to solve fundamental problems on the technology side.

The uk is much more of a scale up nation, a place where innovation can reach global markets, have access to huge customers, to the city.

So the partnership that is emerging between the u.k. in israel on tech is really the the

This text has been automatically generated. It may not be 100% accurate.

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