Since the referendum that triggered Article 50, there has never been more uncertainty, that which was promoted to be gained should the UK leave the European Union (EU), as political reality set in and negotiations ‘tit for tat’ are splashed across the media.
As always, there are two camps of thought on this:
- Those who believe that the UK will be isolated, with no trade agreements, and the like, available to us in order for us to stimulate the economy, provide employment, etc.
- Those who see the opportunity that Brexit affords the UK, with some entrepreneurs and companies remaining optimistic about what lies ahead.
In reality, no one knows how Brexit will shape up, and what impact that will have on the UK, the economy and the workforce, even though countless number of economists and analysts have been offering their varied inductive scenarios of gloom.
Is it blind faith that those who remain optimistic about the future operate in?
Are they risk averse?
Or do they have an uncanny ability to “predict the future”, reading past scenarios and using them to navigate the current situation they face?
What of those of us who are in full-time employment?
How do we plan for the future ahead while we seek more information and hope of some clarity in the midst of constantly changing scenarios?
The 40-40 plan, or working in the same job for 40 years of ones life to retire on 40% of ones yearly salary for the rest of their days, is no longer feasible or viable.
How do YOU meet the challenge of what lies ahead?
Firstly, there is good news!
Numerous polls have been taken, both of entrepreneurs and of those in full-time employment, and there is a cautious optimism.
Smith & Williamson surveyed 200 business leaders and entrepreneurs for their Enterprise Index1, noting that:
- 75% of entrepreneurs are predicting growth over the next 12 months;
- 63% of respondents were optimistic about their prospects over the coming year
So, while British businesses have become more cautiously optimistic in the face of Brexit, there is some hope on the horizon, with Smith & Williamson reporting that some 57% of those surveyed are intending to increase their headcount over the next 3 months.
However, entrepreneurs are less optimistic, with only two-in-five entrepreneurs believing that government policy will be supportive of them. But this has never stopped the canny ability of entrepreneurs to seek out new opportunities.
On the flip side, employees are more optimistic, with the Employee Outlook of Spring 20172 Report detailing the results of a survey of 2,224 employees regarding external context, job satisfaction, employee engagement, career, performance and pay and job-seeking, amongst other topics by the CIPD, finding that:
- 59% of employees believe they won’t lose their main job;
- 65% of employees believe they need to learn new skills;
- 21% of employees are actively seeking employment with a different employer.
Of 2,002 employees surveyed regarding training they had received over the past 12 months, it was found that:
- 19% had received training from peers, of which 94 % found the training to be useful or very useful;
- 12% had attended instructor-led training, of which 89% found the training to be useful or very useful
While the number in work rose by 125,000 in the three months to June to a record 32.07m, pushing the rate up to at an all-time high of 75.1%, this has not translated to higher pay as inflation hovers close to 3%. (Howard Archer, Chief Economic Adviser at the EY ITEM Club).
Hays Recruitment found from their recent survey that almost two-thirds (66%) of employees are considering moving jobs within the next 12 months, compared to 62% pre-referendum, a notable increase. With business sentiment improving, it’s no surprise that the focus on recruitment hasn’t been impacted. Almost three-quarters of employers (73%) plan to recruit staff over the next 12 months3.
There may be dark clouds ahead according to the Organisation for Economic Co-operation and Development4 (OECD), having revised their forecast on the UK economy to grow slower than previously forecast. But as the proverbial saying goes: ‘every cloud has a silver lining’, and the OECD reported in June 2017 that global growth is expected to pick up modestly as confidence is increasing and investment and trade are picking up5.
International Career & Entrepreneur Events (ICEE Ltd)
International Career and Entrepreneur Events (ICEE Ltd) offer an innovative and creative approach to careers and entrepreneurship in the UK. In spite of the uncertainties that will bring to the British economy as a result of Brexit, the ICEE remains optimistic that new opportunities will arise, and thereby opening the door to new business models and potential for aspiring entrepreneurs and those seeking a career change.
International Career & Entrepreneur Events (ICEE Ltd) are hosting a 1-day event for Careers – Job Seekers, Career Changers and those returning to work – and Entrepreneurs – Startups, Entrepreneurs and those wanting to start their own business – to equip them with the skills and knowledge they require to be successful.
- Posted by International Career & Entrepreneur Events (ICEE Ltd)
- On 10 September 2017
- 0 Comments