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Net migration to the UK has fell to a two year low in the year up to September 2016, as the initial effects of Brexit begin to impact the British economy.
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Net migration fell from 322,000 to 273,000 which is the first time in two years it has dropped below the 300,000 mark. 10,000 fewer migrant workers came to the UK from Poland, Slovakia, Latvia, Lithuania, Czech Republic, Hungary, Estonia and Slovenia moved to the UK, while 39,000 people from these countries also moved away from the UK.
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However from Romania and Bulgaria there has been a rise from 19,000 to 74,000 coming in, although the full effects of Brexit are unlikely to be truly revealed for a long time as many of its conditions are yet to be agreed with the EU.
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UK businesses will have to adapt their recruitment process and policies to adapt to the changes in workforce mobility, more employee will have to be found from within meaning developing skills is crucial. Some industries such as retail and food have major concerns particularly regarding seasonal staff and the lack of them because they rely heavily on EU workers. Talent gaps will be a major hurdle companies will have to clear.
For advice regarding your HR department please contact HPC on this website or through social media.
Link: http://www.hrmagazine.co.uk/article-details/net-migration-falls-in-months-after-brexit-vote