Originally posted to Data Center POST
Brexit has been an unwavering focus of conversation since its controversial vote in the June 2016 referendum. From economic forecasts to social implications, Brexit has the potential to affect many facets of day-to-day life and business operations. Although there’s no shortage of conjectures about what may happen spread across the internet, the news and beyond, the truth of the matter is that no one knows exactly how the impending post-Brexit world will look. However, no matter what shape it ultimately takes, the EU egress will likely complicate businesses proceedings across Europe, particularly in hiring and employee retention. In the face of potentially dramatic limits on talent sourcing in the region, companies are anticipating an increase in the existing talent gap that has been plaguing the market for some time. As the business world awaits a more concrete decision on the new deadline of October 31 with bated breath, there are a few considerations that can bolster success in this time of uncertainty.
The Current State of Affairs
Presenting a number of changes relating to the intergovernmental trade bloc, security regulations and migration rules, Article 50 of the Lisbon Treaty (the official mechanism for Britain’s exit from the European Union) can tangibly affect employment and hiring practices in a number of ways. Over time and legislation, much of Europe has become more or less a single market, allowing goods and people to flow freely across borders. If Britain is removed from that market, the pool of applicants and critical skilled workers available to Britain and its STEM markets will drastically tighten, causing an increasingly tight labor market and an ensuing fight for talent.
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