Brexit concerns prompt hiring freeze
More than one in three firms are putting recruitment plans on hold amid concerns that Brexit could squeeze profits and increase costs, Secondsight research finds.
The study also found almost two-thirds (62%) of HR professionals expect quitting the EU – which will begin with the triggering of Article 50 – to affect their HR strategies.
Uncertainty surrounding the process is leading HR departments to take a cautious approach, with 37% saying they would not hire anyone over the coming year.
Worryingly, 5% of employers plan to remove their benefits packages altogether in 2017, with 34% expecting Brexit to hit profits and 43% believing their costs will increase.
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