Jessica Fino 9 Aug 2018 09:25am

Finance professionals request clarity on Brexit

UK financial firms have requested clarity be provided regarding Brexit to ease increasing concerns from their employees

A survey by Reed Accountancy & Finance found more than half of finance professionals lack preparation for leaving the EU, with one in three feeling less informed now than they did immediately after the vote took place.

Of the 800 professionals surveyed, 55% said their company was “slightly prepared” at best, while 29% said it was “not prepared at all”.

Rob Russell, director at Reed Finance, said, “Brexit is one of, if not the, biggest issue for businesses in recent decades, so the lack of clarity between employee and employer must be rectified.

“These findings show that where there are plans they need to be heard outside of the boardroom. For those who do share plans, they could find employees are reassured about their job security and strength of the board. It’s this reassurance, and making employees feel invested in the plans of the company, that could help businesses take a lead in retaining and recruiting talented team members.”

Russell also said that finance professionals want to see as little upheaval to deals and their current way of working as possible after Brexit.

“Stability, solidity and forward planning at boardroom level in times of uncertainty are a massive lure to top talent, and companies that can demonstrate this can secure the best in the industry. For the top candidates working in finance, stability is good, but clarity of how to progress is better,” he added.

Survey respondents said the government should prioritise securing a free trade deal during the negotiations, as well as securing employment rights for workers and retaining membership of the single market.