Estate agency recruitment consultancy Property Personnel is urging agents to hold their nerve following the shock Brexit referendum vote just a week ago - but he says he is concerned that so few property companies appear to have a plan in place.
Anthony Hesse, the firm’s managing director, says that said: “After a historic decision like this, hasty knee-jerk responses are the last thing the industry needs. It’s important that UK estate agents don’t feel bounced into taking decisions with long-term impacts they may live to regret.”
But he says a survey of recruitment intentions carried out by the Chartered Institute of Personnel and Development suggests 54 per cent of companies have no post-Brexit plan in place, with only 26 per cent currently working on a plan.
He is worried that a similar situation exists specifically in the estate agency sector.
“Issues such as employment law, immigration and the ability of employers to bring the right skills they need into their business were central themes of the EU referendum campaigns – so estate agents need to plan accordingly.
“It’s important to remember that our existing labour market already strikes a good balance between providing flexibility for employers and employment rights for workers. Currently, employers can bring in skilled workers from outside the UK to help support business growth and address labour shortages. It’s absolutely crucial that any renegotiation of our relationship with the EU takes this into account.
“Ultimately, we need to ensure that UK estate agents continue to recruit the best people to fill the jobs available. Access to the right talent is absolutely vital to ensure sustainable growth and prosperity – not only for the sector, but the country” says Hesse.
Meanwhile yesterday afternoon Bank of England governor Mark Carney hinted heavily that in a bid to stave off a downturn prompted by a lack of confidence, there may be interest rate cuts in the second half of 2016, starting this summer.