How Brexit Will Affect the UK Job Market

Posted on 2016-07-11 by GenUK Dove

 

Since the referendum, the country has been swept with uncertainty and our recruitment team in Newbury have been inundated with questions about what the futures holds for Britain’s job market.

 

Whilst we don’t profess to have all the answers and firmly believe that time will tell, we thought we’d try to put your minds at rest with a collection of articles from those in the know.

How will the Brexit affect the recruitment industry?

 

Source: http://www.recruitmentgrapevine.com/article/2016-06-24-how-will-brexit-affect-the-recruitment-industry

 

In this article, Recruitment Grapevine present thoughts from around the world of employment.

 

Some of those interviewed remain positive saying Brexit should encourage the UK to take a new approach to business whilst others raised concerns about having access to the talent needed to fill UK jobs.

 

The overall consensus from the experts interviewed in the piece is that it’s too early to know about the long and short terms effects however, most believe that if the UK government are mindful of our need to employ from outside of the UK during negotiations, the UK job market will unfreeze and continue to prosper.

Green Park CEO: How the Brexit will redesign Britain’s workforce

 

Source: http://www.recruitmentgrapevine.com/article/2016-06-29-green-park-ceo-how-the-brexit-will-redesign-britains-workforce

 

Raj Tulsiani, the CEO of Green Park discusses how businesses should use Brexit as an opportunity to protect and develop their foreign talent and continue to recruit during these uncertain times.

 

Raj predicts an increase in the use of temporary staff and warns businesses to maintain relationships with key foreign staff members to reduce the risk of them being poached by European based organisations.

What will Brexit mean for UK jobs?

 

Source: http://www.ft.com/cms/s/0/c86df908-3d07-11e6-8716-a4a71e8140b0.html#axzz4CyzlJ9uE

 

Sarah Conor of the Financial Times urges us to reflect on the 2008 financial crisis and outlines the key lessons we should take from it.

 

Firstly, she remind us all that whilst the Brexit may have been a shock to some, it is not a global financial crisis, nor is it any sort of crisis at the moment. It’s simply a time of uncertainty.

 

Sarah rightly states that during the 2008 Global Financial Crisis, unemployment rates fell and are now at 5%, the lowest since 2005. With the market in such good shape it going to take a lot to bring it down.

 

On the flip side, Sarah warns that the drop in the pound could result in a decrease in wages and a large increase in inflation. If the British economy and Sterling begin to suffer, Sarah warns the UK workforce could begin to look for jobs elsewhere taking valued talent away from our job market.

What does Brexit mean for you? Holidays, homes and jobs

 

Source: http://www.theguardian.com/politics/2016/jun/24/homes-holidays-jobs-what-does-brexit-mean-for-you

 

The Guardian reiterates the sentiment that only time will tell and asserts that the future of the UK job market will largely depend on whether the Brexit causes a recession. As stated in the other articles, the future for UK employment and legislation surrounding it will be dependent on the deal the UK government strike with EU member states.

 

They also predict that post-Brexit, UK citizens will find it harder to get work overseas if visas are required to live and work in Europe. Again, this largely depends on the agreements made with EU members.

 

The Guardian also points to a survey by Path Motion in which 25% of employers said they would increase their intake of British graduates if they were unable to freely hire EU graduates. This could result in fewer graduates struggling to find work and provide a boost to the frozen job market.

What’s Our Opinion?

“Our experienced Recruitment team will continue to work closely with our clients and candidates providing support and advice where they we can. We remain positive that Recruitment in Newbury will continue to thrive, offering local people great job opportunities despite any potential changes as a result of Brexit. We will continue to match high calibre candidates to our clients specifications and change our approach to recruitment, where appropriate, to ensure Dovetail stays relevant and up to date with any changes that may occur in the weeks, months or years ahead.”

 

If you would like more information about how Brexit will impact the job market or advice on finding a job, contact our team of recruitment specialists today!

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