The Impact of Brexit on the Technology Labour Market
The technology sector is living in interesting times and the industry seems to be bumping from one challenge to the next. However, what of Brexit? And how after a couple of years are we coping?
No business can thrive without the right people. In cases where fewer people are looking for work, the talent pool is reduced, and employers struggle to find qualified employees. This is happening right now within the UK Technology Market. A recent report by KPMG stated that, due to Brexit, there has been a 12% reduction in immigration into the UK’s technology sector, which is placing greater strain on the delivery of technology programs.
With the rise of technological transformation and huge investment in initiatives from Greening the IT, Cloud computing and Artificial Intelligence, what can businesses do to attract, develop, and maintain resource?
What can businesses do...
Adopt a longer-term approach: It’s a marathon, not a sprint. Build a family not just a team and focus on meaningful relationships, not casual work relations. Maintaining a high-quality attitude and mindset is essential when there is a shortage of candidates.
Offer career opportunities, not just jobs: Make sure you create opportunities for employee growth within the organisation. Create tailored employment growth plans focusing on work conditions, benefits, training, and career progression within the organisation. As new members join your team, be transparent and clear about their potential growth plan. Make their journey exciting from day one.
Get to know your people: Go beyond the salary and work on employee engagement. Make sure you understand the people you have hired.
Be creative to stand out: Don’t rely on pay as the only incentive you offer. This is the right time to be creative with your brand to build a competitive advantage that will differentiate you in a crowded labour market. Think about what you can offer to make work more enjoyable for your employees.
Build trust in uncertain times: As Brexit has created fear and instability, make sure they see you as a trustworthy employer and resource.