Brexit: what are the implications for HR?
HR has a key role to play in an organisation’s Brexit journey - from managing the immediate people implications of the referendum vote to business scenario planning. We currently see three priorities for HR leaders:
- Help the business create a positive mindset to take advantage of the opportunities that arise. This may include developing a proactive communications strategy which reaffirms company values of openness and inclusiveness and provides a channel for employees to share concerns.
- Address the ‘here and now’ issues. Assess how economic volatility is affecting bonus pools, incentive targets, and pension funding and decide what action is needed. Make sure your bonus plans will motivate employees through this transition period. Provide reassurance to employees and help them deal with practical concerns like residence applications.
- Look ahead to the longer term. Understand how immigration policy could affect your talent pipeline and review the impact of any business moves. Think about how your employee value proposition may need to change. Get educated on the implications of Brexit and be prepared to participate fully in your company's scenario planning. Finally, look at how you'll source the specialist resources required to ‘get Brexit done’.
HR has a crucial role to play in helping get leaders and the wider workforce energised and focused on the right issues, and also in implementing Brexit strategy, where people issues will rank highly among the practical implications.
The art of moving people in changing times
Brexit will have far reaching implications for many international organisations, especially when it comes to global mobility.
In this video, Ben Wilkins, Global Mobility Partner, highlights the need for organisations to reassess the importance of the different markets they operate in and outlines three immediate priorities to focus on.
Reward – thinking creatively to manage the future
In this video, Alastair Woods, Reward Partner, talks about how organisations can manage competing tensions in the reward space following the EU referendum: namely, managing costs and driving productivity, while engaging and retaining talent.
Why is workforce data so important?
Whatever the outcome of Brexit negotiations, it's key that organisations have robust information on their workforce.
In this video, Anthony Bruce, Consulting Services Partner, outlines some of the impacts of Brexit on the HR function, and explains how businesses can better navigate the challenges ahead by having a solid understanding of their people data and technology landscape.
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