AFTER BREXIT: A WORKPLACE REVIEW ON THE IMPACT OF THE EU REFERENDUM 2016
On 23 June residents of Great Britain voted whether to leave or remain in the European Union. After months of campaigning from both sides, the decision was made to leave – with 52% of respondents voting this way. In the lead up to the referendum the impact on UK businesses and their employees was a main talking point. Several months on, research from Love Success Plc has measured the effects of the Brexit referendum on company attitudes within London – especially with regards to hiring and recruitment. The findings show that many companies have not been affected whatsoever by the referendum, despite the warnings from many ‘remain’ supporters prior to the vote. However, nearly one third of participants noted that their bottom line had been affected by either profits decreasing or costs increasing. With regards to recruitment, the majority of respondents had not endured any uncertainty over staffing within their businesses, and their recruitment plans have not changed substantially. However, the most prevalent concern among respondents was a general uncertainty over the post-Brexit state of the UK and how this may change going forward.
How has Brexit affected hiring and recruitment?
Only 15% of respondents reported that they had experienced redundancies or staff uncertainties in the aftermath of the Brexit referendum. Nearly three quarters reported no changes, while 4% were currently planning or discussing redundancies. Reassuringly, when it comes to recruitment of permanent staff, 81% of the participating companies permanent recruitment experienced no change at all, and only one in five reported a decrease. The findings were slightly different when it came to temporary recruitment. 65% of respondents noted no change at all, whereas 23% reported a decrease in temporary recruiting and 12% reported an increase.
The main concerns for a post-Brexit Britain
The research asked companies what their main concerns were now that Britain has voted to leave the European Union. By far the most popular answer was ‘general uncertainty’, with 62% of respondents citing this as their main concern. 46% also listed the risk of more expensive travel within the EU as a concern, and a further 38% were concerned about the potential restriction of movement within the EU.
How was the research conducted?
These findings came from research recently conducted by Love Success Plc on a sample of staff from companies across a number of sectors. These companies varied from financial services and accountancy to fashion and marketing. Participants held a range of positions within their companies, from graduate trainees through to middle management and senior managers.
Introducing Love Success
Love Success Plc is a specialist recruitment agency based in London. Funded solely by owners Jane Atherton and Julia Vassie, the agency specialises in the temporary, permanent and outsourced recruitment of high-quality candidates for office support and PA roles. With the majority of staff being shareholders and each consultant boasting an average of 11 years’ experience, Love Success Plc has built an enviable reputation within the London recruitment industry. As a testament to the agency’s quality of service, Love Success Plc has been formally recognised by the Prime Minister in the Fortuna 50 index of fastest growing female-led businesses.
For more information please contact Love Success Plc:
020 7870 7177