Management Today is speaking to bosses around the country to find out the impact Brexit has had on them so far, and how they’re preparing for the big day - whenever that may be.
David Morel, CEO Tiger Recruitment, says he is increasing investment in order to mitigate any shocks and ensure that the London-based recruitment company can exploit new opportunities.
"Recruitment is often one of the first sectors to be hit at times of uncertainty but, thankfully, we are yet to see any negative fall-out from Brexit. This is partly due to the low unemployment rate and candidate shortages, which mean there is still a high demand for quality recruiters.
"UK businesses have also shown incredible resilience so far and, while we have seen some caution amongst London-based SMEs, this has been more than offset by other areas.
"However, by no means are we resting on our laurels, and Brexit has encouraged us to diversify our offering – both to minimise our exposure to any future declines, and to establish a foothold in markets that look set for growth in the future. This is a strategy which worked well for us in 2008; we’ve also found that it provides an effective way of keeping current talent engaged and motivated.
"For example, we are taking steps to expand internationally by opening a New York office in January 2020. This will be headed up by one of our top London managing consultants who expressed an interest in working abroad. This is win-win for both of us: as her employer, we’re able to hold onto her valuable skillset and experience while, for her, Tiger provides an opportunity to progress her career and start a new chapter overseas.
"I believe that there will be real opportunities for us to succeed over there – while mitigating any dips on this side of the Atlantic. We made a similar decision when setting up our Dubai office in 2017, which is now paying dividends as the business there goes from strength to strength.
"Closer to home, in Europe, we’ve undertaken market research and built stronger client ties to ensure that we can take advantage of the shift of business operations to major cities across Germany, France, Switzerland and beyond.
"This investment has already borne fruit, with a number of our financial services clients having opened offices in mainland Europe, sparking an increased demand for multilingual candidates. We have supplemented our international offering further by providing temporary recruitment and payroll services internationally, giving clients an additional reason to choose us.
"Our diversification strategy has also extended to new industries and roles that complement our existing offering. For example, we launched our hospitality division in December 2018, predicting increased demand for hospitality staff after we exit the EU (due to increased restrictions on Europeans taking these roles).
"The key is to ensure that the business evolves with the times, and that we’re agile enough to take advantage of opportunities as and when they arise."
What are you doing to prepare your business for Brexit? Let us know on Twitter @MT_editorial or email via email@example.com.
Image credit: Tiger Recruitment