Recruiters in the UK professional jobs market have forecast that employers will adopt a "wait and see" approach to permanent hiring whilst increasing their contracting assignments in response to impending Brexit negotiations.
Findings from the survey by the Association of Professional Staffing Companies (APSCo) also showed that while 85 per cent of the professional recruitment leaders surveyed report confidence in the successful growth of their businesses in the coming 12 months, and nearly a third (30 per cent) believe that Brexit will have a subduing effect on financial performance.
The survey, part of a campaign to gain new insight into the current issues associated with growth in the professional recruitment sector, confirmed that talent was the key to growth, with 98 per cent of respondents agreeing that ‘having the right people on board’ was crucial to business growth.
With regard to the expected impact of Brexit, 50 per cent of respondents anticipate fewer permanent vacancies as clients ‘wait and see’, whilst 44 per cent predict that they will see an increase in contract assignments. 40 per cent are planning to review business strategy in response to Britain exiting the EU.
APSCo’s CEO, Ann Swain commented on the findings, saying they confirmed that access to “great talent” is essential for growth.
She added, “It is unsurprising that the impact of Brexit is being felt by the professional recruitment sector. However, it is encouraging that business leaders are preempting possible consequences so that they can flex and adapt in response.”