As fellow Talent Acquisitionists we’re constantly focused on meeting our targets by recruiting the needles from the haystack with the desired calibre. While that’s good we also need to be aware of the changing scenario across the Globe and how it can affect the Indian Market.

Staying updated about such developments poses a problem when we’re constantly flooded with information.  Even a simple process of selective attention is hindered and choosing what information to retain becomes difficult. Sometimes just having a simple discussion like our popular Wednesday discussions becomes the perfect outlet to gain clarity of aspects that concerns us. With that being highlighted our discussion was on, “Impact of Brexit on the Indian IT industry and its Effects on on-site opportunities available in European countries” as suggested by our Pune Group member Amruta. And here’s what we discovered…

To draw conclusions is still too early without any base besides a lot depends on how the negotiations take place, the decisions made, the policies and trade agreements drafted thereafter as pointed out by several members resulting in the negative aspects out-weighing the positive ones. More importantly India’s gateway to EU being Britain can have a drastic effect on everything as we know it so read on to find out what these Pros and Cons are…

Pros

1. The Industry miniscule in terms of the overall ratio minimising the effects
2. The probability for major changes taking place immediately is less due to the 2 year delay
3. On-site opportunities will increase for other EU countries
4. Indian companies will focus more on other countries like Nordics & Scandinavian countries
5. Indian organisations are more likely to renegotiate rates with the Brit organisation

Cons

1. IT firms with headquarters in UK are more likely to get affected first
2. Volatility of the British pound is expected if the decision pulls through
3. 15% of India’s total IT revenue comes from UK
4. Major changes in the financial and banking system are expected
5. Companies to set up their offices in Britain
6. Conduct trade elsewhere in Europe
7. Entry to other EUs being problematic can be a setback thus affecting the above two aspects
8. Uncertainty about future policies & agreements between UK and Europe increase

Well the future seems grim but we’re optimistic so who knows the tables might just turn anytime, so stay connected with us @SourcingAdda to receive real time updates to our upcoming sessions, events and activities. In the meantime you’ve got lots to think about so we’re leaving you to your thoughts do let us know what aspects you’ve covered we’d like to hear from you.