Experts are advising businesses to become global employers after Brexit.
Leaders in tax, immigration, employment law, relocation and corporate spoke to businesses at the Brexit Consortium ahead of our planned departure on 29th March 2019.
They say that for business interests to be safeguarded, it’s important for the government to be clear about what these are, ideally before the White Paper on immigration is due to be published in the autumn.
One of the key concerns for British businesses is the impact Brexit will have on employee management and mobility, especially in the UK’s services-led economy.
Lord Callanan, minister of state at the Department for Exiting the European Union, says that our services economy is a ‘global success story’,
‘The UK plays host to many world-leading firms and I have full confidence that the proven track record and resilience of our services sector, combined with the government’s commitment in securing the best possible deal for services, will see it prosper during and after we leave the EU.’
Communication is important
The next 10 months ahead of Brexit will be a key phase for businesses to make sure that employers and employees are ready to make the most of global opportunities.
Pharmaceutical and financial industries are already preparing for and responding to the future environment, by surveying employees and educating them on post-Brexit options.
These include issues around residency applications, relocation and updates on any developments of Brexit negotiations.
However, other businesses are reticent about informing employees about developments on the horizon, but communication with employees is essential to build trust and reassure staff that they are aware of their personal challenges.
Dale Collins, managing director for EMEA at Graebel, says that there’ll be a more ‘dynamic’ flow of people coming in and out of the country as we leave the European Union.
‘British businesses need to gear up for the possibility of losing some of their staff and ensure that they are positioned to attract and keep the best talent to replace them.’
‘The UK’s exit from the EU represents one of the greatest changes out country has undergone in living memory and as with all changes, if businesses thoroughly prepare and create an environment of wellbeing, it can be a bottom-line opportunity’, he adds.