The CIPD’s acting chief economist has urged leaders and employers to not cut spending on their workforce’s skills.
Based on a survey carried out two weeks before and after the EU referendum on the 23rd May, the CIPD and Adecco Group UK & Ireland found roughly one-in-five employers (21%) are expecting to reduce investment in training and skills.
Ian Brinkley, acting chief economist at the CIPD said: “The economy had positive momentum going into the referendum and there is a risk that employers will create a self-fulfilling prophecy if they over-react in the expectation of a downturn. Instead of looking at cuts, now is the time to be talking about investment in people and in processes.”
Employers were also concerned about the uncertainty caused by the fallout of the referendum, with 45% requiring more guidance on employment law.
Among employers that recruit EU migrants (62%), two-fifths believe Brexit will make it harder to recruit migrant workers.
John L Marshall III, CEO of Adecco Group UK & Ireland commented: “Organisations need to understand the make-up of their workforce, how restrictions on migrant talent may affect them, and where they are strong and weak on skills. The next step is thinking about how to get the right talent through your door.”