Britain Leaving The EU May Affect Your Talent Pool
Good candidates are hard to find at the moment and they’re not hanging around long either, they’re being snapped up like hot cakes. Employers may find it even harder if Britain decide to leave the European Union too. Research published today by Manpower, have shown that the UK’s hiring intentions were the highest at the start of the year since 2007.
A survey compiled of 2,100 UK employers has shown that hiring in the UK is optimistic with London, East and South West showing +10% on the index.
James Hick, Manpower Group Solutions managing director, said: “British businesses continue to create the job opportunities that have helped get Britain back to work since the 2008 financial crisis. But while there’s clearly the demand for workers, we also need to protect the supply of talent. Employers of all shapes and sizes rely on the free movement of people inside Europe to find the skills they need. “The latest employment statistics showed that of the 521,000 jobs created in the last 12 months, 215,000 were filled by people from elsewhere in the EU.”
Britain leaving the European Union could also affect the UK graduate job markets. Cross-border collaboration is crucial for both businesses and higher education institutes to flourish.
Mike hill, the Chief Executive at Prospects said: “For business, being part of the EU enables access to this market and through trade deals with developed and developing economies. There will be reduction in UK investment as people move to invest in continental Europe, particularly Ireland. As we saw in the last recession, the graduate labour market is particularly vulnerable to issues in the financial market, which we will see if Frankfurt takes over as Europe’s financial capital. The ability to recruit overseas talent will also be quashed. “For higher education, the flow of talented young people into our system at an undergraduate and postgraduate level would be severely affected with a knock-on effect on the viability of some Masters courses, which rely heavily on overseas participants, as well as diminution of the skills and abilities of UK domiciled graduates.”
This blog ties in with last week’s blog ‘Internships Lead to Top Talent Retention’. Businesses may see a decline in their graduate scheme participants as some graduates come from across Europe. As research has shown, the key to talent retention is internships and Britain leaving the Europe may create a smaller talent pool.