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A major concern highlighted at the meeting was the effect that Brexit could have on the mobility of employees, especially with regards to Britain’s massive service sector.
Lord Callanan, who is a minister of state within the Department for Exiting the European Union, claimed that Britain’s service sector was a success story of global proportions. He said that he believed in the resilience of the country’s service sector and added that it will prosper after Brexit once the government has secured a good deal on services with the EU.
Crucial next ten months
Many UK firms are worried about the impact of Brexit on their ability to attract overseas workers, especially those from the European Union. The consortium highlighted the next ten months as crucial for businesses to ensure that their staff are prepped on how to take global opportunities from leaving the EU.
The financial and pharmaceutical industries stand out as two industries who have already started to respond to the challenge by educating employees on the options post Brexit. Issues surrounding relocation and residency applications as well as the use of a corporate relocation are top of the list. Other industry sectors, however, have proved slower to catch on.
More dynamic staff
According to EMEA managing director, Dale Collins, Britain will see a far more dynamic turnover of international employees once it is out of the European Union. He said that British companies needed to be ready for the eventuality of losing staff, but make sure that they are in the best position possible to attract, as well as retain those who came to replace them.
Britain has a number of advantages which include English being used as the global language for business as well as its position between American and Asian time zones. Both these factors have contributed towards London becoming one of the world’s largest global financial centres.
Collins said that Brexit would be the biggest change that Britain has experienced within living memory, but that it could be used as an opportunity by businesses who prepare thoroughly and formulate a culture of wellbeing for their employees.