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How is Brexit Impacting the Talent Market?

21 August 2019 By Christian Kenny

Brexit Eu Europe 113885 (1)
Uncertainty continues to reign around all things Brexit. With UK employers left wondering how to ride out the storm and continue to attract the most valuable talent.

Brexit has dominated the headlines since June 2016, yet, in many ways, it seems we are no closer to understanding what it means for business. We have seen influential multinationals leave the country and politicians arguing endlessly about potential deals, no-deal, and the enduring legacy of the referendum on a divided country. But what about talent? Is the UK still a beacon for valuable international talent? And how can employers fill the gap if they are struggling to recruit in Europe and beyond? We explore the key ways Brexit is impacting the talent market, below.

It’s tougher to recruit from the EU

Unsurprisingly, some EU nationals are nervous about taking a job in the UK post-Brexit. In fact, the Office for National Statistics reported that in September 2018, net migration from EU countries had dropped to its lowest level in a decade. While a report from KPMG found that 50% of EU Nationals living and working in the UK felt less valued than they did in the past. This is, in turn, is driving up competition for top EU talent in almost every industry.

Upskilling is more important than ever

As we move past Brexit, and the end of free movement, it will become more important than ever that organisations can look to internal and existing talent to fill their skills needs. Supporting lifelong learning and budgeting for an uprise in internal training are just some of the ways that organisations are preparing to increase their upskilling efforts.

Small firms may be more prepared

Recent statistics suggest that small firms may be ahead of the curve when it comes to Brexit planning. Adecco’s Spring Brexit Tracker found that 34% of SMEs feel they have enough information to make recruitment decisions after Brexit in comparison to 22% of larger firms. Of course, the greater worry may be that this means that most SMEs and larger firms don’t feel confident making decisions in a post-Brexit world.

Employer branding is vital

The competition for top talent has escalated as organisations begin to feel the Brexit squeeze. This means that being an employer of choice has never been more important. To achieve this, organisations have to ensure their employer branding is compelling, creating an authentic voice that resonates with both candidates and employees.

We can’t deny that Brexit is a huge challenge for every organization. Particularly in the face of persistent uncertainty. But this lack of direction doesn’t mean companies can afford to face Brexit unprepared. A focus on workforce planning, a strong employer brand, and retraining and upskilling current talent could all be key to seeing organizations thrive in a post-Brexit landscape.

At Ventula, we understand that Brexit is tough on talent and our dedicated team are experts at discovering hard-to-find and passive tech and professional services candidates. Get in touch to discuss your Brexit challenges and talent needs.