Brexit’s Impact on London & Global Talent Acquisition
July 13, 2017 RELEASE
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There’s a crisis slowly unfolding at executive search firms across London due to the U.K.’s decision to leave the E.U. The crisis is most notable among recruiting firms within the financial services sector, but many other industries such as global life sciences and energy are also being affected. Both the Big Five and boutique executive search firms based in London are fixated on the meaning of Brexit for their businesses in the months and years to come. Asia and Europe to its east and the United States and the Americas to its west, London has long been a critical hub for global business. A close look at this dynamic landscape shows why. London has spawned a gigantic entrepreneurial workplace environment that now requires an enormous number of trained, well-educated business professionals. But London is dealing with a talent shortage. According to talent acquisition specialists and executive recruiters who crisscross this city every day, those shortages are impacting competitiveness and productivity to levels not seen here before. As the struggle to find the right talent becomes even more difficult – and with Brexit now a reality, London itself is under pressure as a premier ‘talent destination’ to attract the best workers that will drive business forward.
An exclusive Executive Summary highlights the short and long-term effects of Brexit on the U.K. and closely aligned global recruiting markets. Expert analysis and insight from Hunt Scanlon Media’s editorial team focuses on the uncertainties and implications that the U.K. referendum is having and will continue to have on talent acquisition and recruiting strategies. Commentary from leading industry sector CEOs are combined with insights and feedback from top CHROs, chief talent officers and heads of talent acquisition across the U.K.
“In our view, the U.K.'s decision to exit from the European Union could have a potentially devastating effect on how companies with major business interests in the country deal with their senior-level talent acquisition strategies. We take an in-depth look at how companies and their external recruiting partners are tackling critical hiring issues and offer up some surprising predictions.”
London Global Crossroads Report Editor-in-Chief, Hunt Scanlon Media
Viewpoints from some of the leading brands in executive search are presented in this dedicated section. Here, search firm chief executives and managing directors discuss their search assignments and lay out the process they use for identifying, and convincing, talent to move from one company to the next. This unique ‘Industry Viewpoint’ section covers a gambit of industry sectors. Search professionals also give clear vision and expertise on what their firms are doing to deal with the fallout from the U.K. decision to abandon its business ties with Europe. These viewpoints are ‘must-reads’ for anyone interested in the future of global talent acquisition.
“Dubai and Singapore are making aggressive moves to take away London’s primary business power base. Will they succeed? We’ll all know soon enough.”
CEO, Hoggett Bowers
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