#Brexit dampens hiring enthusiasm

The latest KPMG and Recruitment & Employment Confederation (REC) report on jobs has been released today, indicating that political and economic uncertainty has dampened UK businesses’ willingness to hire.

Kay Cooper, Managing Director for RPO in EMEA for Korn Ferry, gave her thoughts on how the HR and recruitment functions need to be transformed from cost centres to profit centres for businesses to thrive in such uncertain times:

“Businesses are operating in a dynamic environment where nothing is certain and ambiguity is a constant, and Brexit and other geopolitical factors are accentuating this volatility. But what does not change is the fact that success begins and ends with your people – even more so now that organisations need the adaptability, creativity and strategic thinking to navigate this complex landscape.

“In the wider economic context, it’s understandable that businesses are reversing the trend of the last few years and are holding back on new hires. But this phenomenon ultimately illustrates that for most businesses, HR and recruitment are seen as cost centres, to be cut back in times of uncertainty.

“This is unfortunate, as having the right people onboard and ensuring that you’re getting the most out of them is absolutely vital to prosper in difficult times. When pursued in a strategic way, talent acquisition and management can become an enduring point of advantage for businesses, and HRs should use these times as an opportunity to prove their value to the business as a profit centre.”