The United Kingdom and the whole of Europe have been paying close attention to the last few politically-intense weeks. Here in the UK, Brexit is undoubtedly the most-spoken about topic for both the local population and the foreigners living in the country.
It is within this context that the Spanish Chamber of Commerce in the UK celebrated on the 24th of January the first edition of the Human Capital Forum of 2019. This session carried the title of ‘Are you ready for Brexit?’ and explored the key questions and different possible scenarios of what is in store for Brexit.
We were honoured to welcome three speakers from Ernst & Young, and in particular from the People Advisory Services: Chisom Jide (Senior Manager), Juan Pablo Riesgo (Partner) and Iván Sáez (Executive Director).
The forum focused on the following sections: the implications on Human Resources of Brexit, market trends and insights and potential changes in both the UK and Spain in the areas of immigration, security and taxation.
Two main conclusions were able to be drawn from the forum: First of all, Brexit has brought about not only some challenges but also opportunities for those who are lucky enough to be able to easily adapt to the new economic and political landscape. Secondly, immigration regulations and visa requirements will change, making access to the right talent more restrictive. It is of crucial importance that companies are considering how talent is sourced, structured and retained, while also recognising the taxation, social security and compliance implications.
While focusing on the Spanish side of things, it has been remarkable the consequences of Brexit on immigration. In the case of departure without agreement, the contingency measures of the Spanish Government will seek to safeguard the interests of British citizens who, before the date of the withdrawal of the UK from the European Union, exercised their right to free movement and to reside in Spain.
This session of the Human Capital Forum was very well attended and a fantastic discussion was generated, with all participants having the opportunity to get involved by sharing their thoughts and opinions. We would like to thank the speakers from Ernst & Young for sharing with us their invaluable knowledge and expertise and also Mónica Hernanz of the Client Academy for chairing the event! We are already looking forward to the next edition of the Human Capital Forum which will be held in April.