According to a recent survey carried out by East Midlands Chamber, “two thirds” of companies in the region expect to experience difficulties recruiting and retaining staff post-Brexit. With the UK’s exit from the European Union rapidly approaching, we take a look at the impact Brexit could have on recruitment.
The current state of play
The UK is scheduled to leave the EU in under a year’s time. On 29th March 2019 we will enter a “transition” period during which a new UK-EU trading relationship will be agreed. As every business owner knows, a stable economic and political environment is conducive to growth, but such stability appears a long way off even at this late stage.
What impact will Brexit have on recruitment?
At Frontline we believe firms need access to a flexible and affordable labour market, especially at times of economic uncertainty. Whilst nobody can say with any great authority what kind of long-term impact Brexit will have on the job market, in the short term we could be looking at a decidedly rocky landscape.
Firms that rely heavily on EU migrants to populate their workforce will be hoping for greater clarity and agreement over the status and employment rights of immigrant workers post-Brexit. If no agreement is reached, companies will be forced to recruit from a vastly reduced talent pool, which could mean undertaking a potentially costly overhaul of their recruitment strategy. Many firms could be compelled to shelve their expansion plans as a result.
Moreover, Chris Hobson, Director of Policy at East Midlands Chamber has noted that access to the best talent post-Brexit is vital to “ensure the region can continue to be a respected player and global leader” in a variety of industries. “Without access to the right workforce”, he says, “we could quickly fall behind global competitors, which would ultimately damage the UK economy and our reputation on the world stage”. This could cause problems for firms whose workforce is solely UK-based, too, as there will be a greater volume of companies competing to secure the home-grown talent they need to uphold their global reputation. Some will inevitably lose out, and many will be forced to fall back on inexperienced candidates.
The simplest way to deal with this period of upheaval is to make sure you are fully prepared. If you are concerned about sourcing and retaining the best staff to suit your needs, call Frontline today for a confidential consultation. We can give you access the very best home-grown and international talent in a variety of business sectors, and our experts can help you to put contingency plans in place should you experience a shortfall in staff numbers post-Brexit.