Impact of UK Referendum result

After months of campaigning and uncertainty, the UK has voted to leave the European Union. The implications of this landmark decision will be far-reaching and will undoubtedly affect the world of work, with HR and L&D professionals being at the forefront of these changes.

This is a hugely complex area, so it’s important for us all to take a breath, take stock and recognise that changes will not be immediate. There are still a significant number of uncertainties as to how the decision to leave will play out in practice, the impact it will have on the Irish labour market and our relationship with Britain and Northern Ireland.

The UK’s exit from the European Union will take many months at the very least, giving the economy, businesses and individuals time to adjust. It’s very important that we take this time to properly assess the long-term effect of proposed changes and that, as the HR profession, we are a voice of calm throughout this process.

While the UK’s official exit from the European Union is unlikely to happen until 2018, some of the effects of the ‘leave’ decision may be felt sooner. Where UK organisations may start to consider moving operation to other EU countries, including Ireland, our readiness and capacity to deal with such developments is important. UK or global organisations making the decision to expand in Ireland will increase demand for certain skills. Retaining these has to be a major and ongoing point of focus. Any upward pay cost pressure will also need to be tightly managed.

The vote will have significant implications for Northern Ireland on a number of fronts. CIPD Ireland will work closely with our HR colleagues in Northern Ireland to navigate the significant people and labour market issues that will emerge in this new landscape.

As your professional body, the CIPD is here to support you through this period of change and we will continue to work closely with government and key stakeholders to ensure that your voice is heard as we continue to champion better work and working lives for the benefits of individuals, businesses, economies and society.

We will be hosting an event in the coming weeks to identify and discuss the emerging people issues. More details will follow.

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