UK European Union Referendum: Potential Implications for Relocation Programmes
On 23 June 2016, British voters go to the polls to decide whether the UK should remain a member of the European Union (EU), or whether the country should leave. Widely known as ‘Brexit’, this issue has dominated debate in the UK since the referendum was announced by the British Government in February 2016. Our latest Mobility Insights reviews how a leave vote might affect companies that relocate their staff to, from, and within the UK.
Britain in the EU
Britain has been a member of the EU since 1973 and whilst not part of the Euro currency or the borderless Schengen area, the country’s trade, businesses, laws, migration, taxation, and employment regulations (to name just a few areas) are inextricably linked to the EU framework. As such, this referendum poses many complex and far reaching questions for British voters.
Should there be a majority leave vote on 23 June 2016, it is clear that negotiations to unravel Britain’s membership of the EU will take many years to complete. However, with key areas like the UK economy, housing market, and migration likely to be impacted, companies relocating staff to, from, and within the UK, especially from other EU countries, should be aware of, and give consideration to, the potential of a leave vote on their relocation policy and programme.
Tips For Relocation Managers
- Keep up to date with the debate and the advice given by leading sources, in the lead up and - most importantly - afterwards, in the event of a leave vote. This will ensure all aspects of planning are covered comprehensively.
- Record the profile of those assignees likely to be affected by Brexit, so that appropriate short- and medium-term planning for international assignments can take place.
- Audit your relocation policy and consider any potential areas of additional cost like COLA, home/host compensation, visa/immigration, etc.
- Build extra time, where possible, into the assignment planning process, especially for any visa/immigration requirements.
- Ensure any relocation planning, in the event of a leave vote, is in lock-step with preparations being made in other areas of your company, e.g., legal, tax, finance, HR, etc.
Read our UK EU Referendum: Potential Implications for Relocation Programmes Mobility Insights for more details.