Applications from EU graduates to UK jobs decline by 18%
The effects of Brexit on UK businesses are already becoming apparent, after research done by LinkedIn revealed that the number of EU graduates looking for jobs in the UK fell by 18 per cent between May and July 2016.
The same report, based on data from three million people, also showed that 14 per cent of all job searches are UK graduates seeking work abroad.
Josh Graff, President of LinkedIn, speaking to The Australian Business Review, stated that “this should be a warning to British businesses that face not only a critical skills gap but also what I would call an interest gap. Domestic and international talent is starting to look outside the UK for job opportunities.
“Whilst there remains a great deal of uncertainty about what Brexit means for UK businesses, our findings make one thing clear. If British business leaders don’t act now to shore up their talent pipelines for a post-Brexit age, they risk facing interest and skills gaps in the future.
“It’s therefore vital that businesses work closely with the Government to ensure that Brexit negotiations prioritise businesses’ access to top talent from across the globe,” he added.
Separate research released by the Chartered Institute of Personnel and Development (CIPD) and The Adecco Group has shown that, as reported in The Independent, specific sectors in UK businesses dedicated to EU graduates are already experiencing a shortage in labour.
The CIPD report, based on the accounts of 1,000 EU employers in the UK, has revealed that many workers want to leave their jobs this year and have considered moving out of the country.
Gerwyn Davies, labour market adviser for the CIPD, has proposed that if job positions are unfilled it could “act as a brake on output growth in the UK in the years ahead”.
Chief executive at The Adecco Group UK John Marshall said that the after-effects of the historic Brexit vote are starting to make an impact on the UK jobs market.
Marshall said: “Whilst the outcome of Brexit negotiations is still uncertain, employers’ access to EU migrant workers is likely to change. Investing in young people is a solid long-term strategy, but employers also need to face the facts and prepare for a situation where they might lose access to significant numbers of skilled EU workers in the near future.
“It is encouraging that some employers are beginning to look to new solutions for their future workforce with investment in retraining and apprenticeships, but many more need to begin this planning and investment in their workforce,” he said.