With the triggering of Article 50, Brexit is now officially underway. And, make no mistake, it will affect your business.

You will either be directly impacted by changes to supply chains, regulations, contractual relationships, tax or financing arrangements; or indirectly impacted by the long term dampening of economic growth. 

So how can you prepare for the storm ahead? 

The Great Repeal Bill seeks to reassure us that it will remain business-as-usual when we formally leave the EU by transposing all existing EU legislation into UK domestic law by default, effective March 2019. The government has also indicated that priority legislation will then be reviewed and potentially amended at a later date. An act now, ask questions later approach, you might say.

While such reassurances are welcomed, with such an unprecendent political and legal undertaking ahead, it remains prudent to plan ahead and prepare for a messy divorce. 

So, what can you do to address the ongoing uncertainty? What proven interventions can you rely on?

1. Impact Assessment - If you have taken a "wait and see" approach or think you are somehow immune to the impact of Brexit, think again. An impact assessment is a must for all UK businesses. At its most basic level an impact assessment is about defining the extent of any proposed changes, determining key differences between the current and proposed changed state, evaluating the impact of the gap between the two, and prioritising the possible effects by risk and possibility. 
2. Workforce Planning - If you have never undertaken a workforce planning exercise now is a great time to start. This is a formal process that considers the need for agility without compromising the long term goals of the business. It should acknowledge that it may be harder to attract skilled EEA/Swiss nationals and address the need for the cultivation of new talent pools. 
3. Change Management - As anyone who has been involved in a restructure, reorganisation, acquisition or merger will tell you, it is crucial that uncertainty is managed effectively and trust maintained. Senior management will need to address any feelings of job insecurity that may arise, ensure transparent consultation and communication, and engage with middle and local managers to potentially reposition the employment or business offering. 

Our clients tell us that much has been made of Brexit in the media but little has been said about how businesses might practically respond. For this reason, our next breakfast discussion will look at what HR can do differently to effectively manage the anticipated challenges ahead.  

We are keen to secure participation from senior HR leaders, change management, hiring and development professionals to debate these current issues and share best practice.

Email us if you would like to join.