A study has found that half of the businesses in the UK believe that Brexit will have a negative impact on skills shortages. As a result, almost 66% of employers believe that their business will suffer at the hands of Brexit because there will be a lack of workers who possess the required skills to carry out roles. The study involved 1,355 employers across the UK.
Along with this, around 25% of businesses in the UK believe that the country is not in a position to compete on a global scale because of the skills gap with over half of employers believing that the shortage will have the biggest impact at mid-management level.
With Brexit looming and the uncertainty surrounding it, it is likely that employers will have to take an additional approach to the way in which they attract the best talent but also how they retain it.
These findings, which suggest a problem and staff shortages around mid-management levels are a result of the 2008 financial crisis and the long-term impact that it has had, especially as levels of graduate recruitment dropped drastically.
In an attempt to deal with the ever-decreasing pool of skilled workers, nearly 50% of UK business have said that they would be willing to train and upskill workers in preparation for them to take on new roles.
It is likely that employers will need to take a broader approach when considering their hiring criteria and so, they should look to hire professionals who have transferable skills from other backgrounds. As well as this, employers should think about building healthy relationships with universities and colleges and how that would enable them to reach out to students as a way of making them look as though they are highly regarded employers. Along with this, it will also provide students with the chance to enhance their skills early which will have a positive impact when they get into the workplace.
One industry that has suffered significantly as a result of this is the construction industry. Wages have increased as businesses have found it difficult to find skilled builders at a time when businesses are already having to deal with an increase in the cost of materials following the decision to leave the EU in 2016.