TRENDS 2020 Job Fears and Brain Drain Share of UK executives who see Brexit among According to a recent Glassdoor survey, 40 percent of employees top 3 sources of business uncertainty in the UK say that Brexit has resulted in their company cutting Salzburg Date UK was JOB & HIRING jobs. Meanwhile, UK employers fear a possible tech “brain drain” Summit due to leave 65 following a hard Brexit. Similarly, a recent survey of 1,000 UK 60 business leaders by Salesforce found more than half of employers surveyed said they believe the country is at risk of a brain drain 55 GLASSDOOR'S after Brexit, particularly for tech talent. Severing the decades 50 old UK-EU relationship will likely erect new immigration barriers for skilled workers, making it much harder for the world’s top 45 software engineers and other tech talent post-Brexit to live and 40 work in the UK. 35 These looming questions about the impact of Brexit on jobs and 30 Sep Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul hiring have spurred a growing climate of uncertainty in the UK. 2016 2017 2018 2019 According to the Decision Maker Panel, which surveys a nationally representative sample of around 8,000 UK financial officers from Source: UK Decision Maker Panel, available at https://decisionmakerpanel.co.uk small, medium and large companies, business uncertainty from Brexit is on the rise. The nearby figure shows the share of survey A recent survey of over 2,100 employers by the Chartered Institute respondents who said Brexit was among the top 3 current sources of Personnel and Development found that more than half of UK of uncertainty they’re struggling with — hitting 57 percent in employers had no knowledge of government plans for post-Brexit August 2019. immigration rules, and only 7 percent had detailed knowledge of the latest proposals. We expect this to become the single biggest Other surveys show most UK employers today are not yet issue facing talent attraction professionals in the UK’s tech and prepared for the new immigration rules that may accompany Brexit. professional services sectors in 2020. 29