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|SME BeecherMadden concerned about effect of Brexit on the UK recruitment market|
|Friday, 03 June 2016|
BeecherMadden is a leading recruitment company, specialising in corporate governance, resilience & security and niche technology. We employ over 20 staff, with offices in London and New York. Our key clients are FTSE100 businesses, consulting firms and niche cyber businesses. CEO Owen Jobling, gives his opinion on Brexit and the future for BeecherMadden, 3 weeks ahead of the referendum.
BeecherMadden are well positioned to have continued success should the UK decide to leave the EU. With an office in the US, the company as a group, will still benefit from the high demand for cyber security and governance professionals. Indeed, in the UK, we do not expect to see a slow down in our sectors, due to the nature of the cyber threat and corporate governance landscape. However, should the UK opt to leave we do expect a number of businesses to put a large percentage of their recruitment on hold, while they assess the political and economic landscape. This is likely to slow down the recruitment process and for recruitment businesses which are focussed only on the UK, this may put them under significant strain. At BeecherMadden we may see new competition enter our markets, as other recruitment companies look to the sectors which will continue to have high demand.
In recent weeks, we have seen the effect of the uncertainty surrounding the referendum, with job offers being delayed, or not forthcoming for candidates who were otherwise assured of a job offer. While we are confident that the UK market would eventually recover from Brexit, as a medium sized business, it will be challenging to weather a slow recruitment market for several months or years. We would be forced to invest further in our US entity and potentially expand the European work we do, with a new office on the continent.
We are lucky to be in a strong position commercially but see significant challenges for us ahead, if we vote to leave on June 23rd.
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