Post-Brexit issues for Global Mobility and Human Resources
Brexit has raised concerns that employers may now find it difficult to find and recruit employees with the required talent or desired skills. There is widespread opinion on the continent that the British are particularly unskilled when it comes to their multi-lingual ability. As a result some in Europe have predicted that there will be a major brain-drain of European linguists as British organisations who wish to operate internationally will require employees that can communicate with their target markets.
Several businesses are also known to have hired EU nationals in their IT and creative designs teams and in some cases have their support teams based in other European countries. They too lament the impending changes and what it could mean for their businesses as they share the belief that there will be a thinning of the talent pool without the ability to hire staff across Europe.
Immigration laws are almost certain to be affected, given that one of the cornerstones of the Leave campaign was the UK’s perceived inability to control immigration across EU borders. It is likely the UK will no longer be subject to EU free movement principles and so thousands of employees, such as EU nationals in the UK or expatriates and their families, will be affected.
Whilst these changes are highly unlikely to affect the rights of EU citizens living and working in the UK prior to the invocation of article 50 , employers should begin to prepare for major changes to their staff and their recruitment processes to ensure that all scenarios are prepared for fully.
Considerations to employee remunerations must also come into play, if UK businesses want to ensure they are able to compete in attracting and retaining the best talent available. This could mean drastic changes such as the removal of the bonus cap for financial services companies as well as many firms revisiting employee perks (such as employee share plans), as these will become increasingly important factors in a firm’s hiring processes once the UK has withdrawn from the EU.
If you have any immediate Brexit questions please email us or send enquiry as we are interested in discussing this with you.