Thursday, October 20, 2016

The EU without the UK: Careers

The ref result (Brexit) has certainly caused a need for companies to readjust strategy.  Those that using the UK to produce inside the EU Single Market have good reason to re-adjust their plans. So do companies that using the UK as their European QHs.

Workers in the EU have good reason to do the same.

There are good reason why EU nationals have been job hunting in the UK.

a) Language
b) Location of EU production facilities and European HQs.
c) Other reasons

all leading to a very exciting and competitive market for jobs, especially executive ones.

A recent job advert for Communications Manager in a UK heavy regulated industry quoted a salary of 80,000-100,000 GBP. Where in the EU can you get that kind of salary. Not that many job markets.

The way Brexit is progressing, it seems a good scenario that new entrants in the UK job market from the EU will have to fulfill the same type of conditions US and Canadian (for example) workers do: Find a job of 35,000 of more.

For experienced professionals, especially in management, that is not a great hurdle to overcome. But it may be for younger ones.

Plus, a key strategic question is whether these jobs are going to remain in the UK or move to other EU locations or simply cease to exist.

The answer to that question is not easy (readers with some expertise on this issue, e CEOs or HR pros, are welcome to send me their view, nickpana2017@gmail.com).

Most of the jobs though are for the UK market. A Marketer hired in the UK manages the product for the UK market, an HR pro deals with in the UK operation, CEOs are "country managers". Inter-national posts in Marketing and HR exist but they are relatively small in numbers. Some corporations have European level senior managers, some regional ones some both. But the teams are comparatively small. Same in PR and Finance. A regional CEO traditionally has a Finance and a Marketing "adviser".

Are these teams based in the UK right now? Again, informed readers are invited to send me their views.

Consultancies may have to move, to be close to where the decisions are made at European level. Amsterdam seems a good choice, many multinationals have European HQs in the NL already.  Some in Belgium.

If one takes a look at executive jobs advertised on LinkedIn and job sites (Monster, Stepstone,  etc) one sees that most exec ads outside the UK require the national language. A good number does not.

My guesstimate is that Marketing and Finance (corporate) are more mobile. In PR and HR the requirement to know the national market is stronger. And Sales of course.

To executives/managers who speak English and German and French and Dutch and are willing to relocate, Brexit will probably not cause much trouble.

But where the executive jobs will go, that is to be seen.

I have not addressed the issue for City and Finance people. Will analysts, traders and fund management  move to Germany? Luxembourg?

For non executive jobs, I will do a separate analysis.

But one thing is for certain, 5-10 years from the now London and the UK are not going to be the employment paradise it has been for many years until the Brexit ref.

PS. The above are going to also affect UK business schools and other uni programmes.

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Nick

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