“The figures shine light on a gloomy reality – the UK is facing a major labour challenge. As uncertainties around non-UK workers’ employee statuses continue, even fewer will likely sign-up for the risks Brexit could bring to their career. With little government reassurance, companies believing this is a risk to them must focus on how they can change approaches internally to avoid the talent shortfall they anticipate.
“The pressure falls on HR leaders to find the right solution for their business to attract and retain talented employees. Knowing how your organisation could be affected and having a contingency plan to balance any negative impact is the first step. HR must now take a fresh look at current employment strategies and reassess whether they are rightly balancing the needs and wants of both the business and employees. Furthermore, emphasis must be placed on establishing open communication and succession planning programmes to encourage employee fulfilment and allow a greater sense of career security from within the business.
“The key to driving these decisions is workforce data. It comes down to preparing the business for all unique eventualities and ensuring employees feel supported, secure and able to perform to their full potential. The UK is at the threshold of a major labour market change, so it is key that businesses are prepared for the challenges this brings and retain a motivated workforce through a period of uncertainty.”