Businesses anticipate skills shortages during the second half of 2016

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Research from Robert Walters has revealed that almost 40% of UK businesses believe that they will be impacted by skills shortages in the second half of 2016.

In addition, one quarter of employers believe that Britain’s decision to leave the EU will further compound this shortage.

“A significant proportion of UK businesses believe they may face skills shortages as a result of the referendum’s outcome,” said Chris Hickey, CEO of the UK, Middle East & Africa at Robert Walters.

Looking to talent pools abroad

If businesses are unable to fill vacancies with professionals from the EU and the UK talent is pool is unable to meet demand, it is likely that we will see employers turning to other strategies for recruiting staff from overseas.

Hickey continued, “In the case of more junior roles, younger professionals on short term tier 5 visas from countries such as Canada, Australia, New Zealand, Japan, Hong Kong and Korea can provide a valuable source of talent.”

“However, these professionals may be unable to achieve permanent residency status in the UK, meaning that employers must be conscious to maintain a sufficient talent pipeline with enough staff recruited into in junior positions who can eventually move into management roles.”

Hiring strategies

"A significant proportion of UK businesses believe they may face skills shortages as a result of the referendum’s outcome."

The survey also showed that almost 80% of businesses do not plan to alter their recruitment strategies in 2016 as a result of the referendum, with only one in five businesses stating that Britain’s decision to leave the EU would impact their hiring plans.

“The fact that businesses are showing resilience around their hiring strategies, despite the uncertainty following the referendum is an encouraging sign, indicating a significant degree of confidence in the strength of the UK economy,” said Hickey.

“While it is likely that the economic landscape will change over the coming months, employers are evidently keen to maintain their hiring strategies despite the potential for a change in market conditions.”

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