www.thehrdirector.com
another two years. As the owner of a business, I was keen to see what the update would report in terms of recruitment. It stated that: Employment growth intentions had slowed a little further, partly reflecting deferrals of some recruitment decisions prior to the EU referendum. Recruitment difficulties had eased, though remained above normal. I found it interesting to compare this statement to a few recent headlines in the newspapers. A few that caught my attention were: “Lloyds axes 3,000 jobs despite jump in pre-tax profits”; “Huge jobs boost for Britain plc as businesses pledge to invest millions”; “Surprise delay in UK nuclear plant deal (Hinkley Point) may affect expected jobs boost” and “Amazon boss becomes world's third richest". I’m sure we will continue to see a mix of both positive and negative headlines over the coming months, both connected and unconnected with Brexit. However, the positive headlines made me reflect on positive responses from our survey. Thirty percent of our surveyed clients felt Brexit would be good for the UK. Twenty-seven percent felt the general outlook for their business was either positive or very positive over the next two-to-three years and this rises to 38 percent over the next five-to-ten years. When asked about opportunities for their businesses as a result of the referendum I was encouraged by the responses. They included the following: “We have been forced to think of new, different and better ways of doing business; “more rapid expansion in sales across Europe to set up footholds and satellite offices”; “there have been changes and improvements to supply chains”; “we have increased profitability due to the GBP/USD exchange rate”; this will also aid the export of our services; "lower interest rates investment opportunities have arisen with exporters”. Whether businesses will be positively or negatively affected by Brexit, there will be a need to make changes, big or small, to navigate the next few years. From a talent and HR perspective; 26 percent of those surveyed stated that they didn’t have, or were unsure if they have, the skills and resources available internally to deal with the times ahead.
These are the top ten areas identified where gaps are emerging: Analysis and change management; problem-solving skills generally; people with experience of working overseas; sales, fundraising and business development;
a nimble management team; tax and legal knowledge; procurement and contract experts; risk management; project management; financial expertise and skilled engineers. I was struck with how quickly and effectively our new Prime Minister acted in her first 24 hours of service from restructuring her cabinet and shutting down certain ministries to speaking with world leaders and helping to stabilise the financial markets. Businesses need to move just as fast. If the last few months have shown us anything, it’s that we don’t know what’s around the next corner. So, best not to sit still; as an HR leader your role will be central so what can you be doing to capitalise on opportunity, be proactive and seize the
partners - outsourced HR teams, for example; stay fit and healthy and assume longer working hours than planned especially once we are out of the summer holidays. Review and rework your talent proposition (employer brand); are you distinctive and compelling so that people will want to work for your organisation? This applies just as much to organisations with under five staff to those with over 50,000. Ensure you have the change management skills needed to help navigate this period of uncertainty. You might consider bringing in an experienced, independent interim manager for a few weeks or months to help you fast track thinking across many of the areas on the list above.
A KEY ISSUE WILL BE THE MOVEMENT OF TALENT ACROSS EUROPE. BUSINESSES NEED TO ENSURE THEY DON’T LOSE SKILLED STAFF AND THEY ALSO NEED TO MAKE THEMSELVES ATTRACTIVE TO THOSE SEEKING OPPORTUNITY FROM OUTSIDE THE UK
moment. Here are some thoughts in the form of an action list: Avoid losing the best people; don’t be afraid to employ the best and pay top quartile salaries. Communicate, listen, communicate, listen, communicate, listen to your staff at all levels - there will more heightened levels of uncertainty and nervousness. Get on top of any “doom mongers”! Ensure your behaviours and body language are positive; staff look for non-verbal indicators that things aren’t going well.
Brief your leadership team including the CEO on this to ensure they are being positive and sending out the right messages. Work closely with the leadership team to review the overarching business plan; then review the organisational structure and consider how things can be restructured against the changing business imperatives; review all management information to ensure you can make informed decisions across the HR area including reviewing all costs. Do not sacrifice the long-term for short-term gain; monitor key staff closely; be ready to identify how they can be used for emerging business opportunities and motivated in their career paths. Closely examine key HR business
I feel a key issue will be the movement of talent across Europe. Businesses need to ensure they don’t lose skilled staff and they also need to make themselves attractive to those seeking opportunity from outside the UK. This is a particular concern of mine. Forty-six percent of the British interim managers that we previously surveyed have worked on a project that required them to be based outside of the UK. Businesses across the world are obviously keen to get the right person for the job, despite the added difficulty of procuring them from a different country or continent. But I really don’t see the referendum result impacting on this movement of talent, when it’s so obviously necessary and successful. In summary, I think it’s obvious to say that Brexit has left businesses dealing with both negative and positive repercussions. I wouldn’t expect any of us to have many “dull moments” over the months ahead as we support our organisations through this period of uncertainty, and I would urge you to focus on any positives and see how you can quickly steal a march on your competitors.
FOR FURTHER INFO
www.russam-gms.co.uk
SEPTEMBER 2016 thehrdirector 49
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
