Brexit has taken500 million times a day, in 92 million conversations — and for good reason. While the UK has yet to leave the EU, potential impacts of Brexit has already rippled through industries all over the world. The UK’s technology sector is no exception. While innovation endures in the midst of Brexit, data reveals that inventive business are losing the ability to attract parties from all over the world and are suffering from a substantial talent leak.
It is no secret that the UK was already experiencing a flair dearth, even without the computed pressure created by today’s political scenery. Technology is developing rapidly and demand for tech craftsmen continues to outpace supply, creating a frantically competitive engage landscape.
The shortage of available tech flair has already originated a deficit that could cost the UK PS1 41 billion in GDP growth by 2028, curbing innovation. Now, with Brexit peril the UK’s cosmopolitan tech landscape — and the economy at large — we are to be able to soon see international tech talent moving elsewhere; in fact, 60% of London businesses think they’ll lose access to tech talent formerly the UK leaves the EU.
So, how can UK-based companies proactively lure and retain top tech aptitude to prevent a Brexit brain drain? UK transactions must ensure that their hire pours are a top priority and focus on understanding what matters most to tech talent beyond payment, so that they don’t lose out to US tech centres.