EU Referendum- PwC comments on the impact for businesses and their workforce

Published at 09:00 AM on 24 June 2016

Ben Wilkins, partner at PwC, commented: 

“The vote to leave will have significant implications for businesses and their workforce, in a very wide range of areas from immigration and global mobility to social security, pay and pensions. The difficulty for all employers and employees is the uncertainty- the exact implications of the vote to leave depend upon the government’s next steps and the final negotiated agreements with the EU, which could take over two years. But in the immediate aftermath of the result, employers will need to concentrate on keeping abreast of the changes, reviewing the implications for their workforce and then communicating with their employees. 

“Employers are used to EU employees currently having the right to live and work across the EU without restrictions and applying EU regulations on social security coverage and benefits to EU mobile workers. Employers need to be prepared that these rules may not be in place after leaving the EU and be ready to address specific employee queries on the position throughout the exit negotiations as well as assess the cost implications for the business.” 

 

Ends

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