02 Feb Brexit and the Impact on the Skills Shortage

Until the terms of Brexit are finalised and the new deals and new relationships agreed upon, uncertainty will continue. At the same time, skills shortages, in many areas, mean the recruitment market continues to be candidate-driven, so employers must make the most of their talent acquisition and retention strategies. Business can take steps to address the causes of already, clearly understood, challenges; such as sustainability, an ageing population, the ever faster pace of technological change and a lack of diversity at senior levels; but other imponderables as a result of Brexit (50% of employers indicate that leaving the EU is already having or will, in the future, have an impact on the skills shortage) may require a more agile and flexible approach.

Currently, three in five (59%) senior business leaders think that the skills shortage will worsen now that the UK has officially left the EU, with employers in both Scotland and Wales expecting the impact to be much worse (67% and 64% respectively).

Building a talent pipeline is increasingly complex. There is a shortage of skilled talent increasing competition for the best, brightest and most experienced employees. Often, the best talent is not even actively looking for a job. Employees who are satisfied with their current roles, professional development prospects, compensation, work culture and leadership are not scouring job boards, activating social networks or submitting applications and CV’s.

An overview of talent shortages

• Candidates lacking the right hard skills, e.g. technical knowledge
• Salary expectations of candidates too high
• Candidates overqualified for role offered
• Candidates unwilling to relocate
• Candidates receiving counter-offers or multiple job offers