No panic in IT recruitment despite Brexit says Harvey Nash

Almost two-thirds of UK business leaders say the result of last week’s Referendum is an “opportunity” for the UK to “innovate and reshape its relationship with the world”, according to research done by global IT recruitment firm Harvey Nash.

When the 500 UK business leaders were asked about how Brexit will affect their business’ profit over the next five years, one quarter (27 percent) thought their profit would increase, one-in-three (29 percent) thought it would be unaffected, and 43 percent felt their profit would decrease.

The majority of respondents thought the UK would be “successful” at negotiating a reasonable trade deal with the EU (57 percent) and 71 percent felt the same for trade deals with the rest of the world.

The Leave result “came as a bit of a surprise” to many businesses, with only 29 percent having had a response in place, whether it be a communications plan or a business contingency plan.

Albert Ellis, CEO of Harvey Nash Group, said: “Despite the Referendum outcome being a shock for many, what this survey shows is that business leaders are now beginning to plan for the future. It may be a somewhat bumpy ride in the short-term, however the results suggest a mood of ‘let’s get on with it’, and some organisations are seeing potential opportunity.”

He added: “As with all seismic economic events, the winners will be the opportunistic and innovative. Retaining and engaging with staff will be absolutely key.”

To bang home its message of positivity in the IT recruitment space, Harvey Nash has also just issued a trading statement for the four months up to 31 May 2016.

“The Group has achieved an 8 percent increase in gross profit compared with the same
period in the prior year.

“The directors are encouraged by this performance. While mindful of economic uncertainty
following the EU Referendum, we believe that Harvey Nash is well placed to deliver further resilient performances through uncertain times.”

@AntonySavvas