Months of waiting, wondering and campaigning are over, and the Conservative party came out on top meaning that Boris Johnson will return to No 10 as Prime Minister. Whatever your opinion on the PM, he has claimed time and time again that he will ‘get Brexit done’ and speaking to Conservative activists on Friday morning he stated that this result means it can now be completed. “With this mandate and this majority, we will at last be able to because this election means that getting Brexit done is now the irrefutable, irresistible, unarguable decision of the British people.”
Brexit, however, was not the only thing addressed and promise made during the Conservative campaign that will impact how businesses run. We have presented a few of these below.
With Brexit guaranteed to be ‘done’ before February 2020 and talk of a new points-based immigration system, this could pose as a problem for businesses that rely heavily on EU talent for low-skilled work. This system focuses on high-skilled workers that will bring the most value to the UK, meaning that low-skilled workers will not be as much of a priority. This could impact those firms that need a steady flow of these workers and cause extreme uncertainty for both the employers and the candidates.
The Conservatives have promised to make changes to the National Living Wage, raising it to £10.50 per hour for ages 21 and above by 2024. While this will not pose much of a problem for larger firms as they have plenty of time to prepare, it is the smaller businesses with large numbers of low-paid workers that may struggle to pay workers this. While we are still waiting to see if this comes to fruition, there are no planned increases in income tax, meaning that HR will not be looking to change renumeration packages for more senior staff.
Recent price increases, poor public transport and constant delays and cancellations have meant that those who commute struggle to be productive at work. Conservatives have guaranteed that these issues would be looked it, including building new train lines, fixing potholes and road maintenance. This sort of work, however, isn’t expected until closer to the year 2040, which means that HR may have to be flexible on how their staff work in order to counter these commuting woes, e.g. offering flexitime and the ability to work remotely/from home.
If you’d like further support, guidance or advice relating to what this means for HR, contact our team of CIPD accredited HR Professionals today on 01223 855440.