Britons Get Better Pay, Benefits as EU Workers Shun U.K. Jobs
British workers are starting to reap the benefits as the U.K. becomes a less attractive destination for workers from the European Union, according to LinkedIn.
EU countries accounted for 47% of international views of U.K. jobs, down from 52% a year earlier, the website said in a report published Monday. Analysis of its users across the bloc also showed that in the three-year period since the start of 2016, migration of professionals from other EU countries to the U.K. has fallen by 30%, it said.
In an additional survey of 600 U.K. recruiters, 43% said the U.K. is less attractive to candidates from the EU since the Brexit referendum and 64% said the split is creating a skills gap in certain areas due to diminished access to international candidates. Three quarters reported an increase in businesses looking to source candidates from within Britain, rather than internationally.
More than half of recruiters said firms were increasing salary offers to new hires and 43% reported companies giving pay rises to retain existing staff. They also reported employers are increasing benefits, as well as offering more flexible working, graduate programs and internships.
While Britons may benefit in the short term, Mariano Mamertino, senior economist at LinkedIn, warned that this may become unsustainable. “Fast forward a few months and this may take an extra toll on British businesses that are already reporting skills shortages in certain areas,” he said.
©2019 Bloomberg L.P.