New research has revealed the severe impact of the Brexit vote on employee confidence across the UK workforce.
The study, which saw 2,000 members of the UK workforce surveyed, was commissioned by leading recruiter Badenoch & Clark and carried out by Opinion Matters. It found that a third (34%) of the total UK workforce feel less secure in their current roles as a result of Britain’s decision to leave the EU. Four in ten (42%) feel less positive about their long-term career prospects and (41%) believe that their employer will be negatively affected by Brexit.
Financial services workers are particularly negative about the future of their industry and their place in it, with 44% feeling less positive about their long-term career prospects after the Brexit vote. This compares with 41% of those in professional services and 40% of public sector workers.
The Brexit vote also seems to have led to an increase in Britons’ willingness to move abroad for a job. One in five (20%) said they were now more likely to look for a new role outside of the UK.
The figures are even more striking amongst the surveyed EU/EEA employees, with 75% of EU/EEA workers saying they were feeling less positive about their long-term career prospects. 54% said they were more likely to look for a new role outside the UK after the Brexit vote, and 67% of EU/EEA workers said they felt less secure in their current roles after the vote.
The findings suggest that employers across the UK must work harder to retain their staff leading up to and after Britain’s eventual split from the European Union. To help employers do this, Badenoch & Clark will publish a series of recommendations for UK-based businesses, advising them on how they can manage talent mobility.
The recommendations will urge UK employers to stay mindful of what motivates their staff to stay in their current role. 56% of the total UK workforce said pay increases were the biggest driver in encouraging them to stay with their employer, whilst 13% said they were driven by flexible working, 13% by promotions, 9% by training and development opportunities and 5% upskilling into a new business area.
EU/EEA workers in the UK were slightly less likely to be driven by pay increases (50%). They were more likely to be attracted by training and development opportunities (15%) and the chance to be upskilled into a new business area (10%).
Katy Crothall, Operations Director at Badenoch & Clark, said:
“We have always known that the UK boasts a highly mobile workforce, and Britain’s departure from the European Union looks like it’s going to exacerbate this trend further.
“Although the impact of Brexit isn’t yet known, this research shows that a significant section of the UK workforce feel less confident about their career and are considering moving away from the UK, a trend that is particularly strong amongst EU and EEA citizens currently working in the UK.
“Businesses must therefore be mindful of what drives their employee’s loyalty, and Badenoch & Clark are shortly publishing key steps to managing mobility to help UK businesses do just that.”