Articles by Smart Recruit Online

New Survey Results: Measuring the Impact Of Brexit On UK Businesses

Brexit Flag

Extracted from an article originally published by Andrew MacAskill and supporting commentary by Mark Stephens, CEO at Smart Recruit Online.

There is a lot talk and speculation around the impact of Brexit on UK business and recruitment at the moment and many ‘what if’ scenarios being discussed that highlight the current economic uncertainty.

So I thought that this survey and report published in Executives Online provided an interesting overview on the potential effects that Brexit talks were already having on UK business so far and provided some useful insights into the perceived post Brexit impacts that we can expect.

The data generated is certainly interesting, bust as much of it is subjective and emotionally charged, I think that this survey would be far more valuable if it was done again 6 months after Brexit and a direct comparison of both sets of data was considered.

The following extract is taken directly from an article originally published by Andrew MacAskill for Executives Online:

The UK’s decision to leave the EU has ushered in a period of political and economic uncertainty. There is no precedent for what to expect over the coming months or years, and although the UK is only just starting to take its first steps on this journey, as an international recruitment business, we were keen to understand more about the impact that individuals and businesses are seeing so far.

We asked 1,000 senior business leaders eight questions about the impact of the UK’s decision to leave the EU, 500 in the UK and 500 in European countries.

The questions we asked were about:

  1. Their role function
  2. Their industry
  3. The impact they’d seen so far
  4. Likelihood of continuing certain business initiatives
  5. How they expect their interim hiring to be affected
  6. How they expect their permanent hiring to be affected
  7. The biggest opportunity for their business function
  8. The biggest risk for their business function

The data below relates just to the UK responses that we gathered, in a later post we will be comparing this with the European data we have also collected.

Summary of Key insights:

  • 58% of individuals have seen no change to their business following the UK’s decision to leave the EU.
  • 8% have seen a positive impact on their business so far.
  • 35% have seen a negative impact on their business so far.
  • The industries who have seen the biggest positive impact or the least disruption so far are the Media / Marketing / Entertainment and the Charity / Not for Profit industries.
  • The industries who have seen the biggest negative impact so far are Financial Services / Banking, Business Support Services and the IT / Telecoms / Technology industries.
  • Interim or temporary hiring is most likely to increase
  • Permanent hiring is most at risk of decreasing

Read the full article here

Key areas covered in the full article are:

1. What has the impact of the UK’s decision to leave the EU been on businesses so far?

2. How Is Hiring Going To Be Affected?

3. Permanent Recruitment

4. Interim Recruitment

5. What Next?

6. How’s Your Hiring Process?

7. About The Data

 

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