Lower hiring intentions after referendum vote, CIPD says

British companies ratcheted down their hiring plans in the wake of the Brexit vote, the results of a survey found.

The percentage of employers who said they were expecting to hire more staff over the coming quarter fell from 40.0% prior to the referendum vote to 36.0%, according to a survey carried out by the Chartered Institute of Personnel and Development and Adecco Group UK.

Furthermore, 20% of the companies canvassed said they expected to cut investment in training and skills as a result of the vote and the weakening in the pound, which will make imports dearer, while 7% said they would invest more.

“Although many businesses are treating the post-Brexit period as ‘business as usual’ and hiring intentions overall remain positive, there are signs that some organisations, particularly in the private sector, are preparing to batten down the hatches,” acting CIPD chief economist Ian Brinkley said.