It will take a long while to sort out the consequences- both intended and unintended, of last week’s Brexit. Three immediate thoughts (limited to TA) are these:
- Financial Services firms especially multinational employers with an EMEA headquarters presence in Britain will be well served to create a comprehensive strategy for communication, hiring and retention with their HR partners ASAP. As this Fortune article implies there may be significant retention problems when firms like Goldman and JP Morgan Chase with 22,000 employees in London collectively consider publicly they may have to move out. And shifting headquarters from London to another EU capital will not bode well for the unprepared. Communication and transparency are key. Doing nothing till the smoke clears is a mistake. #allayfears
- The opportunity for Employers to source British citizens or bring back US expats that have relocated to Great Britain and who have scarce skills may never get better than this year. #strikewhiletheironishot.
- The Unintended Consequences of any major change are, by definition, unknown at the time they first happen. Expect a curve out of left field. #keepsomethinginreserve
PostScript: The Wall Street Journal quoted this post in an article written by Lauren Weber, Big Employers Are Urging Calm, on June 28
If you wait for your leaders to ask you to contribute to their contingency plan, you are behind. Have at least one or two scenarios studied and solutions for them in your pocket.