The impacts of an impending Brexit are rippling through the UK and London, and we’re starting to see the effects on the labour market. So far, the emerging winners seem to be jobseekers. A labour shortage is giving job hunters advantages in improving their salary and benefits packages, and those already in jobs are seeing more promotion opportunities. At our leading London recruitment agency, we’ll let you in on what Brexit might mean for your career.
Job vacancies are at their highest level since 2001. There’s a surplus of jobs and not enough workers to meet the demand. Brexit has slowed the influx of migrant workers who companies would draw upon to fill roles in agriculture and retail. International talent sought by universities, pharmaceuticals, and financial institutions are staying away due to Brexit uncertainty.
Things aren’t about to change in the foreseeable future. Labour market growth is projected to shrink from 9% to 2.4% by 2025, leaving many companies wondering how they’ll keep their staffing levels up. The problem isn’t just at the bottom either. Many top-heavy businesses have an aging workforce at the helm, expected to slowly dwindle due to retirement. As such, companies are scrambling to find strategies that will bring in new recruits and fill the soon-to-be-vacant roles in senior management.
What does this mean for you?
While the media might be emphasising the doom and gloom of a labour shortage, as an individual, it’s a a great opportunity to advance your professional career. Whether it’s taking the step up from team assistant jobs to PA jobs, or to demanding EA jobs. What’s more, careers with high barriers to entry in the past may be desperate for talent and willing to consider your experience and enthusiasm. If you’ve had your eye on a career change for some time, Brexit might be the jumping point to make a big splash.
What can you do?
If you’re planning to remain in the same industry, it’s time to start aiming higher. These top-heavy companies will start seeing an exodus of senior management. Organizations will be scrambling to fill the roles from within, as there will be limited options outside. If you haven’t been networking, building your professional relationships, and updating your CV, now is the time to start. If you’ve been waiting for office manager jobs, or want to take the next step up the ladder, this is your opportunity.
Make your demands known
The market is in your favour, so make sure you take advantage and ask for what you are worth. Consider salary, benefits, vacation, and working conditions when negotiating—and put everything on the table. Businesses need you now more than ever, so make sure they recognize your value and compensate you accordingly. Brexit uncertainty will give employees the upper hand in negotiations for the foreseeable future.
With the international labour force drying up and the aging management team moving towards retirement, you have a great opportunity. Whether it’s negotiating a better compensation package for a new job in London or getting that internal promotion, you can benefit from Brexit. If you’re looking for temporary or permanent jobs in London, get in touch with London’s leading PA recruitment agency Love Success today and we can help you sail through Brexit with ease.
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