Firms cough up as much as £100,000 and perks to keep EU workers after Brexit | City A.M.

British firms are coughing up as much as £100,000 in pay rises, bonuses and even school fees to keep hold of top EU workers, a new study suggests.

According to a survey of 1,000 HR directors conducted by law firm Migrate UK, six in 10 companies have paid additional incentives since the Brexit vote to retain staff.

A fifth of firms have paid between £50,000 and £100,000 in extra benefits in the last two years, with one per cent even paying more than £100,000.

The extra benefits coincide with fears of a skills shortage, as 66 per cent of HR directors said they have struggled to find sufficient skills since the referendum.

Banking is the sector most under pressure, as 86 per cent of hiring chiefs report difficulties recruiting, closely followed by 83 per cent of those working in finance and 79 per cent in IT.

Almost 40 per cent of organisations questioned said they had already lost EU workers to other European countries. The most popular relocation destinations were Germany, Ireland, Sweden, Italy and France.

The most recent government data showed that EU migration to the UK has fallen to its lowest level in five years.

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Perks handed out to workers in a bid to make them stay include medical insurance schemes, which have been introduced by a fifth of respondents. Some 22 per cent also pay for accommodation, offered increased holidays or added company car schemes.

Seven per cent have even paid to privately educate the children of EU employees.

Jonathan Beech, managing director of Migrate UK, called on the government to reassure EU workers to stop the country haemorrhaging more talent.

“The government’s recently proposed EU Settlement Scheme, granting settle status to EU citizens who have lived continuously in Britain for five years, will certainly help to stabilise the skills situation,” he said.

“But, after two years of uncertainty, the government needs to give some form of guarantee that the status of EU workers in the UK is legally binding and safeguarded against any threat of change in the future, otherwise EU workers will just continue to leave.”

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