The latest REC and KMPG UK Jobs report for January 2019 shows the sharpest fall in candidate supply since 2013. This, coupled with high employment rates amongst permanent staff, also reflects a reluctance among people wanting to move jobs amid Brexit uncertainty. What does that mean for businesses in sectors where growing new markets and excellent trade relationships for high quality products and services will be crucial to their business success, post Brexit?
In the case of the Manufacturing and Engineering industries, the media would have us believe that great skills in these sectors are moving abroad at a fast rate. With the fast pace of technology and perceived lower costs, some businesses are already producing in places like Singapore and overseas, and this for some, may increase. However what is evident is that employers in these sectors still prize the highly experienced, well qualified, specialist talent we have in the UK. The issue is; they aren’t moving.
Now more than ever, boardrooms are resource planning. Over the next two years they will need to continue to identify the effects of Brexit, pro-actively rethink business models and review their access to market. The challenge will be how to appeal to those reluctant to move due to this uncertainty.
For those who are moving, it is no surprise we are seeing a rise in higher starting salaries across the board. Talent is in high demand and unlikely to abate. However, within our specialist sector; Sales Directors and Senior Executives in the Engineering and Manufacturing field, the bigger picture is also being significantly investigated when considering a move. It’s not only about the salary package, it’s about the culture, the vision and the opportunities for both them and the business. This heightened awareness amongst individuals that may be either looking at what the market place is like or passive within the market place, means that confident employers who show they are looking at opportunities beyond Brexit in the areas of supply chain, M&A, talent and innovation, will be the ones to attract and prise away the best talent.
My advice would be start your resource planning if you haven’t already. Reluctant talent may, for a time, take a little longer to recruit and being ahead of the curve is where most businesses like to be.
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