According to a close majority of votes in 2016, the British people voted to leave the European Union (EU). Brexit will have repercussions on the UK job market but how it could specifically affect UK Nationals searching for jobs remains in the balance. Here are some of the ways Brexit could affect the search for jobs in the UK:
Some businesses might have to relocate after Brexit. Economists say that tough financial times are to come, and there might also be a recession. However, in the short term, Britain will not see too many changes. In light of the economic turmoil speculations, one in three employers believe that Brexit will be good for the job market. This seems apparent through the number of job applications currently flowing in, along with the vacancies that jobs are currently advertising. For most recruiters, business seems bustling as usual.
EU nationals who entered the UK legally, under rules that still exist, will be allowed to stay in the country. Moreover, British businesses that have employed workers from other EU nations will not have to lay them off. However, this is not guaranteed. Proper decisions are based on future negotiations. In case an employee is worried about their employment status, it is highly recommended they speak to a member of the HR team or an attorney.
Salary and Working Rights
Depending on the state of the economy and the role played by the industry and individual, his salary and working rights will be determined accordingly. The National Minimum Wage will have to be honored. This is now known as the National Living Wage and stands at 8.21 pounds for those over 25 years of age. However, in case of a financial downturn, salaries may be affected. Moreover, contract legislation, including working time and rights of workers, need to be determined by EU regulations.
Work in Europe for UK Citizens
The common assumption is that finding work in the EU will become difficult for UK workers due to Brexit. Citizens of states who are members of the EU are allowed free movement of labor around the union. However, since UK is no longer a part of the EU, there will be no more free movement of labor for British nationals. This means that getting work in the other 27 countries of the EU may prove to be difficult. A visa or work permit may be needed to secure employment in the EU. This makes finding a job that much harder. However, this can still be changed depending on whether free movement becomes a future condition of Brexit.
Sectors Most Affected by Brexit
There are some industries that will be more highly impacted by Brexit than others. These include the tourism agency, financial services, automotive industry, and manufacturing. The National Health Service may also see a large impact since non-UK workers may be asked to leave the workforce.
Right now, the existing EU laws are subject to change. We will know more once there are additional updates on this topic. Make sure to keep checking Global People Strategist to stay up-to-date.