The insurance sector has come under plenty of pressure in the post-Brexit environment – but on the back of several promising earnings reports it appeared the storm may have settled into calmer waters.
However, does that mean that you can start job hunting under the impression that it’s business as usual again? Not if a recent survey is to be believed.
CIPD carried out a survey of British employers and discovered that they are likely to be increasingly cautious when it comes to hiring – and indeed are less likely to invest in training for their existing staff too.
The survey’s results, reported on by
Reuters, show that the proportion of employers expecting to increase staff has slipped from 40% to 36% since the Brexit decision.
Furthermore, one in five employers plans to reduce investment in skills and training as a result of the referendum with just 7% planning to increase their investment.
Speaking to the newswire, Ian Brinkley, the acting chief economist at CIPD, highlighted that some employers may be reassessing their plans.
“While many businesses are treating the immediate post-Brexit period as ‘business as usual’ and hiring intentions overall still remain positive, there are signs that some organisations, particularly in the private sector, are preparing to batten down the hatches,” he said.
Meanwhile, when examining migrant workers, most employers stated it was too soon to assess if they would leave as a result of the Brexit but one in five did state they would consider moving away over the next 12 months.
The results come as a stark reminder that things are yet to settle down following slow growth in the country and the fear about a potential recession.
Related stories:
Prudential may move parts of business post-Brexit
Aviva UK boss on Brexit crash: ‘We never worry’
Zurich CEO says Brexit has no risk to UK business
